Rising incidence of urinary incontinence in European countries is expected to be the key driver of the Europe urinary catheters market growth during the forecast period. According to the World Federation of Incontinence Patients (WFIP), there are 36 million people suffering from urinary incontinence in the 27 European Union (EU) countries presently. Out of these, 60% are women and the prevalence of the disorder is expected to climb due to the increasing life-expectancy of Europeans. Furthermore, the Global Forum on Incontinence states that in the whole of Europe, about 9.9% of the continent’s total population was reeling under the effects of urinary incontinence in 2018. These numbers will augment the expansion of the Europe urinary catheters market in the coming decade.
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The report covers :
o Global Europe Urinary Catheters Market trends, with detailed analysis on consumer trends & manufacturer trends.
o Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
o Key areas of investments identifying market opportunities and challenges in forecast timeframe.
o Competitive analysis of the industry players along with the overview on strategic management.
o Comprehensive company profiles of the major industry players.
Steadily Climbing Number of Aging People in Europe to Propel the Market
The Europe urinary catheters market size is slated for considerable expansion owing to the increasing geriatric population in the continent. The United Nations data on population shows that Europe houses the largest number of elderly people in the world, with one in every four Europeans being 60 years and above in age. According to the WFIP’s projections, by 2050, the number of Europeans above 65 years of age will increase at a rate of 70% and those aged above 80 will shoot up by 170%. Since urinary disorders are very likely to affect old people, a growing geriatric population brings good news for the Europe urinary catheters market. To add to that, life-expectancy in Europe has gone up at a healthy rate, elongating lifespans of people and driving up the demand for urinary catheters.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Leading Players operating in the Europe Urinary Catheters Market are :
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Boston Scientific Corporation
- Coloplast A/S
- Clinisupplies Ltd.
- ConvaTec Group PLC
- Teleflex Incorporated
- Braun Melsungen AG
- Hollister Incorporated
Increasing Number of Surgeries to Fuel Revenue Generation in Germany; Italy to Follow
With USD 0.26 billion of revenue generated in 2018, Germany is expected to lead the Europe urinary catheters market during the forecast period. The two main factors for this development are the rise in urology surgeries and growing number of elderly people suffering from urinary incontinence. Italy is anticipated to take second place to Germany in terms of revenue in the Europe urinary catheters market till 2026 owing to rapidly spreading awareness about urinary disorders. Increasing number of surgeries will enable France to register a high CAGR, with 1.1 million urology surgeries already been performed, as per the data released by the OECD.
Launching of Novel Products to Drive the Competition
Competition in the Europe urinary catheters market is driven by increased R&D activities to develop new products and mergers and acquisitions. For example, Coloplast launched a new range of products, SenSura Mio Baby and SenSura Mio Kids, specifically designed for kids and babies having to live with a stoma. Further, companies are acquiring other players to strengthen their grip on the market. For example, C.R. Bard, along with its urology and urinary incontinence products, was acquired by BD in 2017 to diversify their product range and establish a stronger presence in the market.
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