URINARY CATHETERS MARKET ANALYSIS

Increasing number of product recalls by regulatory authorities, such as the U.S. Food and Drug Administration, is expected to hinder the market growth. For instance, in April 2020, the U.S. Food and Drug Administration recalled a class II device silicone foley catheter with a temperature sensor, which was manufactured by Covidien, a subsidiary of Medtronic, a medical device company. The device was recalled because the catheter failed to meet the established calibrated temperature sensing tolerance and correctly measure patient body temperatures that lead to an incorrect diagnosis and insufficient treatment.

Market Opportunities – Increasing Fundings from Organizations

Increasing adoption of inorganic growth strategies such as fundings is expected to offer lucrative growth opportunities in the market for the development of advanced urinary catheters. For instance, in August 2023, the Department of Biological Sciences at the University of Notre Dame, a private Catholic research university, Indiana, U.S. announced that it had been awarded funding from Open Philanthropy, a non-profit organization, for further development of a new type of urinary catheter that may reduce deaths from catheter-induced urinary tract infections (CAUTI).