ROCKVILLE, Md., March 01, 2022 (GLOBE NEWSWIRE) -- Newly published data by Fact.MR establishes that the global foley catheters market is expected to exhibit a steady expansion trajectory, growing at a compounded annual growth rate of 5.9% to reach US$ 7.1 Bn across the 2021-2031 forecast period. Rising prevalence of urinary disorders is majorly sustaining expansion prospects for the market.
From 2016 to 2020, foley catheters sales expanded at a CAGR of 5%, closing in at over US$ 4 Bn by the end of the said historical period. Amidst the COVID-19 pandemic, priority to coronavirus infected patients led to the relegation of elective surgeries, including those for urinary disorders. This stalled demand for foley catheters to a significant extent in the first half of 2020.
According to the American Academy of Family Physicians (AAFP), urinary retention affects 4.5 to 6.8 males per 1,000 men each year. The American Academy of Family Physicians says (AAFP). The market is developing steadily in 2021, and with key players adopting more tactics, the market is predicted to rise throughout the forecast period. The growing innovations in foley catheters that result in increased patient comfort are projected to propel the foley catheters market forward.
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How are Numerous Innovations Spurring Foley Catheters Industry Growth?
Growing innovations in foley catheters resulting in increased patient comfort is projected to generate tailwinds to the foley catheters industry. Foley catheter demand will be fueled even more by antibacterial coatings that minimize the prevalence of catheter-associated urinary tract infections.
Furthermore, the worldwide foley catheters market is expected to benefit greatly from the rising prevalence of urine incontinence and occurrences of kidney stones.
Foley Catheters Market segmentation
Fact.MR has studied the foley catheters market with detailed segmentation on the basis of product, material, end-users and key regions.
Product
- 2 way catheters
- 3 way catheters
- 4 way catheters
Material
- Latex
- Silicone
End-users
- Hospitals
- Long-term Care Facilities
- Others
Key Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Takeaways of Foley Catheter Market Study
- 2-way catheters are anticipated to hold a major chunk of the foley catheter market share, comprising more than three-quarters of the total market. Greater flexibility, long-term usage and easy drainage of urine are attributed as key drivers behind the segment’s growth.
- Latex-based catheters shall find maximum usage among urologists during the forecast period. This is because latex catheters are coated with hydrogel silicone, silicone elastomer and PTFE teflon material which reduce urethral irritation and encrustations. They also lower surface friction and improve patient comfort. The segment is expected to expand at a CAGR of 5.8%.
- However, Silicone-based catheters are set to be leveraged, owing to their longevity and reduced risk of urinary tract infections when inserted. The segment is expected to register an impressive CAGR of 7.5% during the forecast period.
- North America is expected to retain market hegemony with respect to foley catheters. Increased prevalence of diseases like Benign Prostate Hyperplasia (BPH) is expected to drive market expansion. The region is set to account for almost half of the total foley catheters market.
- Asia-Pacific shows promising growth prospects for the foley catheters market, projecting a staggering CAGR of 6.7%. Increasing geriatric population and entry of leading market players are anticipated to boost market share of foley catheters in Asia-Pacific.
Competitive Landscape
Prominent foley catheters manufacturers are leveraging such key strategies as introducing technologically advanced product lines, mergers and acquisitions and strategic collaborations.
- For instance, GentleCathTM Uncoated Intermittent Urinary Catheter from Convatec is designed to make catheter insertion and removal as painless as possible for the patient. It has polished and rounded eyelets to reduce friction and a soft, rounded tip to make insertion easier.
- Likewise, Romsons' Uro Cath is a two-way Foley catheter designed for adult patients. The latex-bonded silicone elastomer of the two-way foley catheter prevents encrustation.
- Also, customers may find Rusch EasyCath Catheters to be an excellent choice. These come in a variety of lengths, including male, female, and pediatric options. In addition, some of these uncoated catheters come with a kit of insertion equipment, making catheterization more sanitary.
Product Launches to Remain Key Growth Lever by Players
The prominent market players in the foley catheter market are C.R. Bard (Becton, Dickinson & Company), Coloplast Corp, Cardinal Health, Inc., Bactiguard and Cook. These companies are constantly involved in developing new catheters to address growing urological problems. Cardinal Health offers latex foley Catheters which include hydrogel coated, silicone and silicone elastomer coated catheters. Examples of such catheters are the DoverTM Hydrogel Coated Latex Foley Catheters (5 mL 2-way, 30 mL 2-way. 5 mL 3-way and 30 mL 3-way).
Coloplast Corp offers catheter products such as the Folysil 2-way Coude Indwelling Catheter, the Folysil 2-way Open Tip Indwelling Catheter, Semi-rigid Latex Foley Catheters and Soft Latex Foley Catheters. The company focuses on research and development activities to broaden its portfolio by manufacturing innovative products. Another important market player, Bactiguard, manufactures foley catheters which include products such as BIP latex foley Catheters, BIP pediatric latex foley Catheter and BIP silicone foley atheter.
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Following Questions Answers Covered in the Report are:
- How will the global Foley Catheters Market perform during the forecast period? What will be the market size in terms of value and volume?
- Which segment will drive the global Foley Catheters Market? Which regional market will show extensive growth in the future? What are the reasons?
- How will the market dynamics change because of the impact of future market opportunities, restraints, and drivers?
- What are the key strategies adopted by players to sustain themselves in the global Foley Catheters Market?
- How will these strategies influence the market growth and competition?
How are Numerous Innovations Spurring Foley Catheters Industry Growth?
Growing innovations in foley catheters resulting in increased patient comfort is projected to generate tailwinds to the foley catheters industry. Foley catheter demand will be fueled even more by antibacterial coatings that minimize the prevalence of catheter-associated urinary tract infections.
Furthermore, the worldwide foley catheters market is expected to benefit greatly from the rising prevalence of urine incontinence and occurrences of kidney stones.
How is Rising Prevalence of Urological Diseases Spurring Adoption?
Rising incidences of urethral obstructions, benign prostate hyperplasia, and other urinary problems caused by a poor diet, sedentary lifestyle, and lack of exercise in patients ranging from adults to the elderly.
Furthermore, the Centers for Disease Control and Prevention (CDC) estimates that 15-25 percent of hospitalized patients receive a foley catheter each year. Similarly, 5-10% of nursing home residents (about 75,000 to 150,000 people) require foley catheters.
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