Fact.MR – A Market Research and Competitive Intelligence Provider: According to a research report conducted by Fact.MR, the global foley catheters market is expected to develop steadily from 2021 to 2031.
Silicone-based Foley Catheters to Grow at a 7.2% CAGR in the Global Foley Catheters Market
A recent market research study by Fact.MR offers comprehensive demand outlook on foley catheters market. It categorizes the market in term type, material, and end-user. The report also offers analysis of growth drives, trends, and opportunities driving the foley catheters market
Fact.MR – A Market Research and Competitive Intelligence Provider: According to a research report conducted by Fact.MR, the global foley catheters market is expected to develop steadily from 2021 to 2031. The increasing prevalence of urine incontinence and other chronic disorders around the world is driving market growth. The global market will register steady growth at 5.9% CAGR, totaling a valuation of US$ 7.1 Bn by 2031.
In addition to these causes, the need for minimally invasive operations is increasing the use of latex-based 2-way foley catheters. The foley catheters market is expected to rise in response to the rising prevalence of obesity and benign prostate hyperplasia.
According to the Centers for Disease Control and Prevention (CDC), between 15-25% of patients hospitalized might require urinary catheters during their hospital stays. Likewise, 5-10% of residents in nursing home may require foley catheters.
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In the approaching years, sales of silicone foley catheters will increase. According to the market survey, this is due to human beings’ longer lifespans, larger lumen diameters, and a focus on lowering the risk of urinary tract infections. In comparison to latex catheters, these catheters offer a smooth surface that reduces the possibility of encrustations.
According to Fact.MR, silicone-based foley catheters are predicted to outperform latex-based foley catheters in terms of growth. During the assessment period, the demand for silicone-based catheters is expected to grow at a CAGR of 7.2%, according to the report.
“As lifestyle induced diseases become frequent, incidence of urinary disorders is becoming overt, prompting patients to opt for advanced treatment alternatives which cause minimal discomfort, thus impelling foley catheters sales,” says a Fact.MR analyst.
Key Takeaways:
- By type, 2-way foley catheters are expected to account for more than 3/4 of worldwide revenue, while latex foley catheters are expected to account for more than 90% of the market.
- Silicone-based foley catheters are expected to grow at a CAGR of 7.2% from 2021 to 2031.
- Through 2031, hospitals will account for more than three out of every five foley catheter sales.
- With a CAGR of 5.8%, the United States is expected to reach a market value of US$ 726 million by 2031.
- Asia would grow at a nearly 7% CAGR, reaching US$ 286 million by the end of the projected year.
- Europe will account for two-fifths of the global market for foley catheters.
Growth Drivers:
- The rising prevalence of urine incontinence is likely to boost demand for foley catheters over the forecast period.
- The rising rates of obesity and prostate cancer are improving the acceptance of foley catheters, particularly among the elderly.
- An increase in the number of surgical procedures performed around the world will be a primary driver of growth
Key Restraints:
- The demand will be hampered by complications connected with foley catheterization and the simple availability of alternative goods.
- Sales are projected to be hampered by an increase in occurrences of urethral constriction, bleeding and infection associated with the use of foley catheters.
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Competitive Landscape
Leading foley catheters manufacturers are focusing on product launches and new product lines to increase their presence globally. Key strategies such as mergers and acquisition are also being adopted by key players.
For instance,
- Recently, in February 2020, Levity Products Incorporated announced the release of a set of newly patented and clinically proven external catheter stabilizers, a new medical device known as the LECS which is expected to revolutionize the market.
- NanoVibronix Inc. announced the expansion of its distribution agreement with MDS Pharm Ltd., leading distributor of medical equipment for home care and self-diagnostics, to commercialize and distribute NonoVibronix Uroshield in Israel.
Some of the key foley catheters players profiled by Fact.MR are:
- ConvaTec Inc.
- Becton, Dickinson and Company
- Cardinal Health
- B. Braun Melsungen AG
- Coloplast Corp.
- Teleflex Incorporated
- Bactiguard
- Cook Medical
- Medline Industries
- SunMed
- Wellspect HealthCare AB
More Valuable Insights on Foley Catheters Market
Fact.MR, in its new report, offers comprehensive insights on the global foley catheters market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in the foley catheters market with detailed segmentation:
By Type:
- 2-way Foley Catheters
- 3-way Foley Catheters
- 4-way Foley Catheters
By Material:
- Latex Foley Catheters
- Silicone Foley Catheters
By End User:
- Hospitals
- Ambulatory Surgery Centers
- Long-term Care Centers
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Key Questions Covered in the Foley catheters Market Report
- The report offers insight into foley catheters demand outlook for 2021-2031
- The market survey also highlights projected sales growth for the foley catheters market between 2021 and 2031
- Foley catheters market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Foley catheters market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others.
Explore Fact.MR’s Coverage on the Healthcare Domain –
Radial Access Catheter Market Trends - Increased prevalence of cardiovascular diseases, changes in lifestyle, increased usage of radial access catheter in pediatric patients, and rising desire for minimally invasive procedures and interventional cardiology procedures are all factors driving the radial access catheter market forward.
Indwelling Catheters Market Scope - Aside from the rising prevalence of urinary incontinence, the rising number of surgeries performed globally, as well as kidney stones, urethral blockage, and benign prostatic hyperplasia (BPH) to drive indwelling catheters market growth.
Surgical Catheters Market Analysis - The global surgical catheters market is growing because to an ageing population and rising occurrences of diabetes, renal failure, and cardiovascular illnesses. In most affluent nations, reimbursements for surgical procedures performed with a surgical catheter are available.
Normal Balloon Catheter Market Forecast - A normal balloon catheter consists of a catheter and a guidewire that are put into the femoral artery in the legs or the radial artery in the arms to treat restricted blood arteries. Through 2022, sales of normal balloon catheters in cardiac catheterization laboratories are predicted to grow at the quickest rate.
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