Fact.MR – A Market Research and Competitive Intelligence Provider: The global foley catheters market is projected to register steady growth over the forecast period from 2021 to 2031, as per a research study by Fact.MR.
Sales of Foley Catheters to Increase by 1.7x as Prevalence of Urinary Diseases Increases
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: The global foley catheters market is projected to register steady growth over the forecast period from 2021 to 2031, as per a research study by Fact.MR. Growth in the market is primarily driven by the increasing prevalence of urinary incontinence and are chronic ailments around the world.
Coupled with these factors, inclination for minimally invasive surgeries is improving the adoption of latex-based 2-way foley catheters. The foley catheters market also is predicted to register higher sales in response to the growing 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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Silicone foley catheters will register higher sales in the coming years. The market survey attributes this to the longer lifespan of human beings, larger lumen diameter, and focus on reducing the risk of urinary tract infections. These catheters also have a smooth surface which reduce the risk of encrustations, as compared to latex catheters.
According to Fact.MR, growth registered in the silicone-based foley catheters segment is expected to outpace that of latex-based foley catheters. The report also projects silicone-based catheters demand to increase at 7.2% CAGR during the assessment period.
Driven by aforementioned factors, the global market will register steady growth at 5.9% CAGR, totaling a valuation of US$ 7.1 Bn by 2031.
“Due to the growing prevalence of lifestyle disorders, incidence of urinary tract infections is increasing rapidly. With advancements in medicine and growing awareness among people, the demand for minimal discomfort and noninvasive surgeries is rapidly increasing. This will also positive impact the demand for foley catheters,” says a Fact.MR analyst.
Key Takeaways from Foley Catheters Market Study
- By type, 2-way foley catheters will generate 3 out of 4 sales during the forecast period
- Latex based 2-way foley catheters are likely to generate over 90.4% of revenue shares through 2031
- Silicone-based foley catheters segment is poised to expand at a robust CAGR of 7.2% during the forecast period
- The U.S. market for foley catheters is expected to reach a value of US$ 726 Mn by 2031
- China is expected to account for major chunk of East Asia’s market share, with East Asia expected to register growth at nearly 7% CAGR
- Europe will remain the second-most lucrative region, accounting for over 40% of global foley catheters sales
Key Drivers
- Rising prevalence of urinary incontinence is expected to accelerate the demand of foley catheters during the forecast period
- Growing rate of obesity and prostate cancer are improving the adoption of foley catheters, especially among the geriatric population
- Increasing number of surgical procedures across the globe will be a major factor driving the growth
Key Restraints
- Complications associated with foley catheterization and easy-availability of alternative products will hamper the demand.
- Increasing cases of urethral constriction, bleeding, and infection with repeated use of foley catheters is expected to impede the sales.
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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 –
Indwelling Catheters Market- The growing demand for healthcare professionals to bridge the knowledge gap between evidence and practice is driving them to learn about advanced healthcare techniques, particularly for patients with bladder difficulties. Aside from the rising prevalence of urinary incontinence, the rising number of surgeries performed globally, as well as the rising incidence of kidney stones, urethral blockage, and benign prostatic hyperplasia (BPH), among others, have made indwelling catheters necessary for certain treatment measures, which bodes well for the growth of the global indwelling catheters market size in the coming years.
Radial Access Catheter Market- Cardiovascular catheterization is a method for detecting and clearing blockages in the arteries and veins. Interventional cardiologists are increasingly using radial access catheters. This is owing to a lower risk of bleeding and problems at the access site. 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.
Normal Balloon Catheter Market- The rise in interventional cardiology has made it easier to use standard balloon catheters. Furthermore, the number of people with end-stage renal disease is on the rise. In addition, the number of patients requiring renal replacement therapy has risen. Leading balloon catheter producers are working on more efficient and cost-effective options. These events may have an impact on the worldwide normal balloon catheter market’s growth in the following years.
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Source: Fact.MR