Report : Asia Pacific Silicone Based Catheters Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application [Urinary Tract Infection (UTI)/Catheter Acquired Urinary Tract Infection (CAUTI), Surgery on Contiguous Structures of Genitourinary Tract, Prostate Gland Surgery, Spinal Cord Injury, and Others], Usage (Male, Female, and Pediatric), Tip (Nelaton Tip and Tiemann Tip), Product Type (Short-Term Foley Catheters, Long-Term Foley Catheters, and Others), Type (2 Way Sizes: 6 to 26 Fr and 3 Way Sizes: 16 to 26 Fr), and End User (Hospitals, Nursing Homes & Clinics, Ambulatory Surgical Centers, and Others)
The hospital segment by end user is estimated to lead the market growth during the forecast period.
According to a new market research study of “Asia Pacific Silicone Based Catheters Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Application, Usage, Tip, Product Type, Type, End User and Country.” The Asia Pacific silicone based catheters market is expected to reach US$ 31.70 million by 2028 from US$ 17.42 million in 2021; it is estimated to grow at a CAGR of 8.9% from 2021 to 2028. The report highlights trends prevailing in the Asia Pacific silicone-based catheters market and the factors driving market along with those that act as hindrances.
Medical tourism is an emerging trend prevalent globally. It is expected to provide opportunities to developing economies and local market players to capitalize and generate significant revenues through an increased influx of patients undergoing urinary incontinence and catheterization treatments in these regions. According to Healthbase Online, Inc., patients from the US and various European countries travel to India, Thailand, and Singapore for treatments and surgical procedures associated with urinary incontinence, percutaneous nephrolithotomy, and others. In 2017, Thailand's National Statistics Office estimated that 3.3 million tourists used the country's healthcare and wellness facilities. Since the last decade, this number has been steadily increasing. According to a survey conducted by the Ministry of Public Health in 2019, Thailand's capacity to provide high-quality services at a low cost than competitors is the most crucial element in attracting visitors to the medical and wellness business. Thailand was placed 6th out of 41 countries on the International Healthcare Research Center's Medical Tourism Industry as a preferred tourist destination.
Furthermore, according to the International Medical Travel Journal, Indian hospitals served ~ 460,000 international patients during 2015–2016. These travel destinations are considered cost-saving and budget-friendly options without compromising the quality and suitable outcome of the treatment procedure. Thus, the rising medical tourism in the emerging counties is projected to provide significant growth opportunities to the potential players operating in the market during the forecast period.
The Asia Pacific silicone based catheters market, based on application, is segmented into urinary tract infection (UTI)/catheter acquired urinary tract infection (CAUTI), surgery on contiguous structures of the genitourinary tract, prostate gland surgery, spinal cord injury, and others. The market, based on usage, is segmented into male, female, and pediatric. The Asia Pacific silicone based catheters market, by tip, is bifurcated into Nelaton tip and Tiemann tip. The market, based on product type, is segmented into short term Foley catheters, long term Foley catheters, and others. The Asia Pacific silicone based catheters market, based on type, is bifurcated into 2 way sizes: 6 to 26 Fr and 3 way sizes: 16 to 26 Fr. The market, based on end user, is segmented into hospitals, nursing homes and clinics, ambulatory surgical centers, and others. By country, the Asia Pacific silicone based catheters market is segmented into India, South Korea, Australia, Japan, China, and the rest of Asia Pacific.
Teleflex Incorporated, B. Braun Melsungen AG, ConvaTec Group Plc, Ribbel International Limited, Bactiguard, BD, Cook Medical LLC, Angiplast, Sterimed Group, Medasil Surgical Limited, and Mais India are among the leading companies operating in the Asia Pacific silicone based catheters market.