Global External Urine Management Products Market Expected to Garner $31,929.3 Million by 2031, Growing at 7.4% CAGR from 2022-2031 [225-Pages] | Published by Research Dive
The external urine management products market is expected to grow by 2031 due to growing application in hospitals. Disposable sub-segment is predicted to have a high growth rate. Market in North America to grow significantly.
NEW YORK, Jan. 17, 2023 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "External Urine Management Products Market, by Gender (Male and Female), Product Type (Urine Collection Catheters & Bags and Pads & Diapers), Product Category (Disposable and Non-Disposable), Distribution Channel (Online Channel and Offline Channel), and End User (Hospitals, Diagnostic Laboratories & Clinics, and Homecare Settings): Global Opportunity Analysis and Industry Forecast 2022–2031".
As per the report, the global external urine management products market is predicted to grow at a stable CAGR of 7.4% in the 2022-2031 timeframe, thereby garnering $31,929.3 million by 2031.
Dynamics of the Market
Drivers: Growing application of external urine management products in hospitals is expected to be the primary growth driver of the external urine management products market in the forecast period. Along with this, increasing frequency of overactive bladder disorders is expected to boost the growth rate of the market further.
Opportunities: Increasing use of external urine management products for prostate cancer is expected to offer numerous growth opportunities to the market in the analysis timeframe. Moreover, growing use of external urine management products in hospitals is estimated to help the market grow in the coming years.
Restraints: Post-operative complications due to infections, however, may dampen the growth rate of the external urine management products market.
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Covid-19 Impact on the Market
Due to the outbreak of Covid-19 pandemic, strict lockdowns and travel restrictions were put in place by various governments across the world. This negatively impacted several industries and businesses causing disruptions in supply chains and manufacturing processes. The external urine management products market, however, was an exception. As the number of hospital admissions increased due to growing Covid-19 cases, the demand for external urine management products surged. This provided a boost to the growth rate of the market during the pandemic years.
Segments of the Market
The report has divided the external urine management products market into different segments based on gender, product type, product category, distribution channel, end user, and region.
- By gender, the female sub-segment is predicted to have a dominant market share by 2031. The increasing use of protective pads, shields, diapers, and similar specifically designed absorbent female external urine products to protect females' garments against urinary leaks is expected to boost the sub-segment in the forecast period.
- By product type, the pads and diapers sub-segment is predicted to have a significant market share by 2031. The growing use of pads and diapers for individuals suffering from disorders such as incontinence, mobility limitation, severe diarrhea, or dementia is expected to boost the sub-segment in the forecast period.
- By product category, the disposable sub-segment is expected to have a high growth rate by 2031. Rise in prevalence of chronic renal disease and bladder infection, along with surge in geriatric population is expected to boost the sub-segment in the forecast period.
- By distribution channel, the offline sub-segment is predicted to flourish immensely by 2031. The product verification, authenticity, and certainty offered by offline distribution channels is expected to boost the sub-segment in the forecast period.
- By end-user, the hospitals sub-segment is anticipated to be highly profitable by 2031. Growing use of external urine management products in hospitals is predicted to help the sub-segment grow in the analysis period.
- By regional analysis, the external urine management products market in North America region is expected to be hugely lucrative in the forecast period. Rising occurrence of ailments such as bladder obstruction, urinary tract infection (UI), urine retention, and bladder cancer across the region is anticipated to boost the growth of the market in this region during the forecast years.
Significant Market Players
The significant market players of the external urine management products market are
- Teleflex Inc.
- Boehringer Laboratories LLC
- Sterimed Group
- Tilla Care Inc.
- Hollister Inc.
- B. Braun Melsungen AG
- Consure Medical
- Coloplast Corp.
- Cardinal Health
- Men's Liberty (BioDerm)
These key market players are developing different strategies like product development, merger and acquisitions, partnerships and collaborations to gain a leading position in the market.
For instance, in January 2022, HR® Pharmaceuticals, Inc., a healthcare consumables manufacturer, announced that it was acquiring Medical Technologies of Georgia (MTG), a leading catheter manufacturing company specializing in catheters for paraplegics. This acquisition is predicted to offer numerous growth opportunities to the acquiring company in the market.
The Research Dive report also summarizes many crucial aspects of the global market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
More about External Urine Management Products Market:
- When do Doctors Suggest Individuals Use External Urine Management Products?
- Global External Urine Management Products Market to Observe Extensive Growth with Increasing Occurrence of Urological Disorders
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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