Market Trends of Catheter Stabilization Devices Industry
This section covers the major market trends shaping the Catheter Stabilization Devices Market according to our research experts:
Urinary Catheters Securement Devices Segment is Expected to Witness Significant Growth Over the Forecast Period
A catheter securement device, or retaining device, is a product that is used to secure an indwelling urinary catheter. It is essential to prevent urethral trauma. A catheter securement device, or retention device, is a product used to secure an indwelling urinary catheter. It is essential to avoid trauma to the urethra. Failure to secure the catheter can lead to urethral damage and inflammation. This could cause pain, discomfort, and a high risk of infection for the patient.
The major factors fueling the segment's growth are the implementation of strategic initiatives by the market players. The increasing number of chronic kidney diseases leading to kidney transplants and surgical procedures is also propelling segment growth. For instance, as per the research report published by the Health Resources & Services Administration (HRSA) in March 2022, around 24,670 kidney transplants were performed in the United States in 2021. As urinary catheter stabilization devices are used in renal transplantation procedures, an increasing number of transplantation procedures indicates a significant demand for these devices. In addition, several market players are engaged in implementing strategic initiatives, which is also boosting segment growth. For instance, in November 2021, CATHETRIX, an innovative developer of urinary (Foley) smart catheter fixations, presented its new catheter stabilizer for the prevention of UTIs and accidental Foley catheter extractions at MEDICA 2021, which took place between November 15-18 in Düsseldorf, Germany.
Thus, owing to the increasing transplantation procedures and product launches, the segment is expected to witness significant growth over the forecast period.
North America is Expected to Witness Considerable Growth Over the Forecast Period
North America is expected to witness significant market growth over the forecast period. The major factors contributing to the market's growth are the growing number of surgical procedures, the presence of strong market players, and improved healthcare infrastructure. For instance, according to the CDC article in September 2021, heart diseases are the leading cause of death in the United States. The same source also reports that every year about 805,000 Americans have a heart attack. As the mortality due to heart diseases is low in the region, there is a continuous need for treatment devices for such diseases. For instance, according to the CDC report in 2021, more than 600,000 women in the United States have a hysterectomy every year. All these procedures require catheter stabilization devices, owing to which an increasing number of chronic diseases and surgical procedures are expected to boost market growth in the region.
Key product launches, a high concentration of market players or manufacturers' presence, acquisitions and partnerships among major players, and increasing cases of chronic diseases in the United States are some of the factors driving the growth of the catheter stabilization devices market in the country. Several market players are launching new products, which is boosting market growth. For example, in March 2021, Argon Medical Devices introduced the Skater mini-loop drainage catheter, which is placed through the skin using image guidance as a minimally invasive procedure for removing or draining unwanted fluid collection. Thus, due to the above-mentioned factors, the market is expected to witness significant growth over the forecast period in the North American region.
