Nordic Urinary Catheters Market
Growth Factors of Nordic Urinary Catheters Market
The Nordic urinary catheters market size was valued at USD 68.6 million in 2022, and the market is now projected to grow from USD 72.8 million in 2023 to USD 111.1 million by 2030, exhibiting a CAGR of 6.2% during the forecast period of 2023-2030.
The Nordic urinary catheters market growth has been mildly impacted by the COVID-19 infection with delayed surgical procedures and altered hospitalizations. For instance, firms such as Coloplast A/S experienced decreases in sales. The market recovered in 2022 as many hospitals were visited more often and innovative products were implemented in 2023-2030.
The factors that have led to the increase of the Nordic urinary catheters market share are the high incidence of urinary incontinence caused by other conditions such as benign prostatic hyperplasia, diabetes and pregnancy. However, the greatest threat is afforded by the tendency towards an increase in population density, particularly the gerontology demography which implies higher incidences of incontinence. Such forecasts are expected to propel the market even further in the future.
Another prevailing issue in the Nordic market, which has attracted increased interest and customer preference from users and healthcare professionals, is the replacement of conventional urinary catheters with their technologically enhanced type. There is rising capital outlay on technology enhancements to serve this need. In addition, there is a focus towards employing green materials for the production of plastic medical devices. Advanced products’ adoption rate will probably rise significantly in the region because of the industry's higher number of innovations by major companies.
Comprehensive Analysis of Nordic Urinary Catheters Market
The Nordic urinary catheters market and healthcare industry is rising exponentially due to its market segmentation. This market expansion effectively provides detailed regional assessments considering the dominant supply and demand forces that impact the healthcare industry. These segmentations are methodically segregated by product, by application, by gender and by end- user. The products include, Indwelling Catheters, Intermittent Catheters and External Catheters. The applications include, Urinary Incontinence, Spinal Cord Injury, Gynecology, Benign Prostatic Hyperplasia, Surgery and Others. The genders include, Male and Female. The end-users include, Hospitals, Age Care Centers and Others.
The Swedish market value reached USD 24.5 million in 2022, driven by increased patient admissions, longer hospital stays and a rise in chronic diseases and surgical procedures. Norway held a significant share of the Nordic market due to enhanced healthcare facilities and greater adoption of urinary catheters. Additionally, Denmark, Finland and other Nordic countries are experiencing growth, supported by improved healthcare infrastructure, reimbursement options and rising product adoption to meet the needs of elderly patients.
The key industry players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include, BACTIGUARD AB (Sweden), Coloplast A/S (Denmark), Convatec Group PLC (U.K.), Hollister Incorporated (U.S.), Boston Scientific Corporation (U.S.), BD (Becton, Dickinson and Company) (U.S.), B. Braun SE (Germany) and Wellspect HealthCare (Dentsply Sirona) (Denmark). These market players provide a level-playing competitive landscape.
In June 2023, Convatec Group PLC introduced GentleCath Air for women to reduce the likelihood of catheter contamination. This product is designed to provide patients with maximum convenience and comfort.
Segmentation Table
Global Nordic Urinary Catheters Market Scope
Study Period 2019-2030
Base Year 2022
Forecast Period 2023-2030
Growth Rate CAGR of 6.2% from 2023-2030
Historical Period 2019-2021
Unit Value (USD Billion)
Segmentation By Product, Application, Gender, End-User, and Country/ Sub-Region
By Product Indwelling Catheters
Intermittent Catheters
External Catheters
By Application Urinary Incontinence
Spinal Cord Injury
Gynecology
Benign Prostatic Hyperplasia
Surgery
Others
By Gender Male
Female
By End- User Hospitals
Age Care Centers
Others
By Region Nordic (By Product, By Application, By Gender, By End-User, and By Country/Sub-Region)
- Sweden (By Product, By Application, By Gender, By End-User)
- Norway (By Product, By Application, By Gender, By End-User)
- Denmark (By Product, By Application, By Gender, By End-User)
- Finland (By Product, By Application, By Gender, By End-User)
- Rest of Nordic (By Product, By Application, By Gender, By End-User)
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