Catheter stabilization devices are medical devices used to secure indwelling urinary catheters in individuals suffering from conditions such as urinary incontinence or urinary retention. They help avoid accidental pulling or dislodging of catheters and prevent urine leakage.
The global catheter stabilization devices market is estimated to be valued at US$ 1.2 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing Urinary Incontinence Cases:
The key trend propelling the growth of the catheter stabilization devices market is the growing prevalence of urinary incontinence across the globe. According to the National Association for Incontinence, urinary incontinence affects nearly 25 million Americans with higher prevalence among women. Further, aging population which are more prone to urinary incontinence will also fuel the demand for catheter stabilization devices over the forecast period.
SWOT Analysis
Strength: Catheter stabilization devices offer secure and reliable catheter fixation which helps in improving patient safety and reducing complications. These devices also prevent catheter tugging, pulling or accidental dislodgement.
Weakness: The high cost of catheter stabilization devices limits their widespread adoption especially in cost-sensitive developing regions. These medical devices also involve maintenance costs and require frequent replacements.
Opportunity: Growing prevalence of various chronic and acute diseases that require long-term catheterization procedures presents an opportunity for catheter stabilization device manufacturers. Increasing demand for minimally invasive surgeries also creates growth prospects.
Threats: Presence of alternative catheter securement methods and procedures poses a competitive threat to catheter stabilization devices. Stringent regulatory approval process for new medical devices also acts as a barrier.
Key Takeaways
The global catheter stabilization devices market is expected to witness high growth. The global catheter stabilization devices market is estimated to be valued at US$ 1.2 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030.
Regional analysis The North America region currently dominates the catheter stabilization devices market and is expected to continue its dominance over the forecast period. This is attributed to the rising prevalence of lifestyle diseases, growing geriatric population undergoing catheterization procedures, and availability of advanced healthcare infrastructure in the region. The Asia Pacific region is poised to witness the fastest growth in demand for catheter stabilization devices owing to the increasing healthcare spending, expanding medical tourism industry and rising awareness about these medical devices in countries like China, India and South Korea.
Key players Key players operating in the catheter stabilization devices market are Merit Medical Systems, 3M, BD, Smiths Medical, B. Braun Melsungen, M.C. Johnson Company, Adhezion Biomedical LLC, ConvaTec, and Baxter International.Merit Medical Systems offers a wide range of securement and stabilization products under brands such as StatLock, Torbot and ClearSight that help in preventing accidental catheter dislodgement and migration. BD offers securement devices such as Tegaderm I.V. Advanced Securement Dressing and SecurAcath Securement Device used for reliable peripheral IV and peripherally inserted central catheters stabilization.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it