The increasing cases of COVID-19 have caused significant disruptions around the world, as well as an impact on the patient population's demand for urinary catheters. Urinary catheters were being used for surgical applications, and demand was influenced to some extent by the temporary postponement of various elective surgeries as authorities sought to ensure the availability of resources for COVID-19 patients. However, a few launches have contributed to the segment's steady growth due to the increasing infection rate.
According to Data Bridge Market Research the Rectal Catheters Market accounted for USD 601.67 million in 2021, and expected to reach USD 1134.00 million by 2029. The market is expected to grow with a CAGR of 6.8% in the forecast period of 2022 to 2029.
“Rising Chronic Cases to Facilitate Market Growth”
The market is expected to grow rapidly due to the rising prevalence of cardiovascular, neurologic, and urological disorders, as well as the increased use of minimally invasive procedures and the rising demand for antimicrobial catheters. Chronic diseases are becoming the leading cause of death and morbidity worldwide. According to the Brain Aneurysm Foundation in March 2021, brain aneurysms cause approximately 500,000 deaths worldwide each year, with half of these people being under the age of 50. In the United States, the annual rate of rupture is around 8-10 people per 100,000, or about 30,000 people. Thus, as the prevalence of neurovascular disorders rises, so the demand for neurovascular catheter devices also rises.
What restraints the growth of Rectal Catheters Market?
“High cost of rectal catheters”
The high cost of rectal catheters and complications such as bowel perforations, mucosal irritation, and others hamper the market growth. In addition, decreased awareness, social distress, and patient emotions will pose challenges to the rectal catheter market. However, a shortage of skilled professionals and the impact of COVID-19 on the supply chain will restrain and impede the growth rate of the rectal catheters market during the forecast period of 2022-2029.
“High Risk of Infections Through Catheters”
Catheters are either temporarily or permanently inserted into various parts of the body. However, any foreign object injected into the body poses the risk of infection. Urinary catheters, according to the United Kingdom Health Service, allow bacteria to enter the body. This can lead to infection in the urethra, bladder or in rare cases, the kidneys. Urinary tract infections are the name given to these types of infections (UTIs). As a result, the risk of infection may discourage patients from using catheters, slowing market growth.
Segmentation: Rectal Catheters Market
The rectal catheters market is segmented on the basis of product type, application, usage and end use.
- Based on product type, the rectal catheters market is segmented into simple rectal catheter, and compound rectal catheter.
- The application segment is segmented into management of chronic gastroenterological diseases, fecal incontinence, diarrhea, constipation, medication and fluid delivery, surgery and others.
- Usage segment of the rectal catheters market is segmented into disposable and reusable.
- Rectal catheters market has also been segmented based on the end use into hospitals, ambulatory surgical centers, clinics and homecare settings.
Regional Insights: Asia-Pacific is expected to dominate the Rectal Catheters Market
North America is expected to dominate the market because of the region's rising healthcare costs and high-quality medical facilities.
- In addition, the Asia-Pacific region is likely to register highest growth rate during the forecast period of 2022 to 2029 because of the growing patient pool and cost-effectiveness of treatment in this region. Furthermore, these companies launch products in new markets in order to increase their consumer base and revenue. Furthermore, the market is distinguished by using competitive strategies such as partnerships, mergers, acquisitions, joint ventures, among others.
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Recent Developments in Rectal Catheters Market
- In 2021, Medtronic plc launched its Prevail drug-coated balloon (DCB) catheter in Europe, following the CE (Conformité Européenne) mark. The Prevail DCB, the most recent coronary DCB on the market, is used during percutaneous coronary intervention (PCI) procedures to treat narrowed or blocked coronary arteries in patients with coronary artery disease (CAD). This will result in increased use of such catheters to treat cardiovascular disease, and market growth will benefit from rising minimally invasive procedure trends.
- In 2022, Cerus Endovascular received FDA clearance for its 027 micro-catheters, which are available in two lengths, expanding its product portfolio, which already includes the FDA-cleared 021 micro-catheter platform. Similarly, in February 2021, Health Canada approved Bactguard's TempSensor catheter.
The Prominent Key Players Operating in the Rectal Catheters Market Include:
- Coloplast Corp (U.S.)
- B. Braun SE (Germany)
- BD (U.S.)
- Laborie (U.S.)
- Sterimed Group (India)
- P3 Medical Ltd. (U.K.)
- Integra LifeSciences (U.S.)
- Gamma Group (Italy)
- Mediplus India Ltd. (India)
- Ivor Shaw T/A Pennine Healthcare (U.K.)
- Amecath (Egypt)
- gpcmedical (U.S.)
- Wellona Pharma (India)
- Narang Medical Limited (U.S.)
- Angiplast Pvt. Ltd. (India)
- Runfold Plastics Ltd. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of rectal catheters market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Rectal Catheters Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
