The SNS Insider report estimates the Foley Catheter Market size at USD 1.69 billion in 2023, with a projected CAGR of 5.98% to reach USD 2.85 billion by 2032.
The foley catheter market is growing due to several factors such as, rise in surgical procedures with increase in hospital stays. This required the use of catheters for effective urinary drainage. The increase in the global geriatric population rises the growth of the foley catheter market. This increasing population ages, are prone to the age-related urinary disorders like BPH and urinary incontinence. These conditions required a long-term catheterization, which further rises the demand for Foley catheters.
The medical technology sector is showing advancements which lead to improve the catheter designs and materials. This focus is on innovation and improved functionality; and aims to enhance patient comfort and reduce the risk of infections. These developments give opportunities for the development of novel catheter solutions.
Catheters are associated with infections and strict regulatory requirements are the challenges of the foley catheter market. This requires the industry’s continuous investment in research and development activities to provide a safer and more effective catheters. The competitive environment rises the research into catheter design and materials, with improving patient outcomes and reducing complications. Also, the increasing focus on cost-containment in healthcare systems worldwide is likely to influence market dynamics, potentially leading to increased demand for cost-effective Foley catheters. This will incentivize manufacturers to explore production efficiencies and potentially introduce new pricing models. Overall, the Foley catheter market presents a compelling picture of growth, driven by a confluence of factors that will influence product development, market dynamics, and ultimately, patient care.
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KEY MARKET SEGMENTATION
By Product Type
- 2-way Foley Catheters
- 3-way Foley Catheters
- 4-way Foley Catheters
By Material
- Silicone Foley Catheters
- Latex Foley Catheters
By Indication
- Urinary Incontinence
- Enlarged Prostate Gland/BPH
- Spinal Cord Injury
- Others
By End-user
- Hospitals
- Long Term Care Facilities
- Others
Segment Analysis
By Product Type, 2-way Foley Catheters segment dominated the foley catheter market with more than 50.70% of market share in 2023 due to, their affordability and suitability for both short-term and long-term use.
By Material, Silicone Foley Catheters segment dominated the Foley Catheter Market with more than 58.7% of market share in 2023 due to, it has advantages like, biocompatibility, rigidity, and extended shelf life
By Indication, Urinary Incontinence segment dominated the Foley Catheter Market with more than 34.85% market share in 2023 due to, the rising cases of chronic and urological conditions, particularly urinary incontinence
By End-user, Hospitals segment dominated the Foley Catheter Market with more than 52.40% market share in 2023 due to, the high volume of patients and procedures requiring them.
Key players
- Sterimed Group
- Angiplast Pvt Ltd
- HEMC (Hospital Equipment Manufacturing Company)
- Cardinal Health
- Advin Health Care
- AdvaCare Pharma
- Teleflex Incorporated
- GWS Surgicals LLP
- BACTIGUARD AB
- Medtronic
Recent Developments
February 2023: Coloplast launches Luja, a male catheter designed to reduce the risk of urinary tract infections (UTIs).
January 2023: CATHETRIX commercially launches its catheter stabilizer for preventing UTIs and accidental catheter removals at Arab Health 2023 in Dubai.
November 2022: Coloplast launches SpeediCath Flex Set catheter in the U.S., designed for people with bladder and urinary problems.
January 2022: Braun Melsungen ag officially opens its new branch in Vietnam.
Regional Analysis
North America dominated the foley catheter market with more than 31.24% of market share in 2023. This dominance is due to several factors such as, a well-established healthcare system and the availability of these medical devices, high spending on the healthcare sector. The increase in the North America’s aging population rises the burden of urological disorders such as urinary retention and enlarged prostates, rises the growth of the foley catheter market in this region.
Europe is the second dominated region for the foley catheter market, this dominance is due to the favourable government policies for advancements in healthcare technology. The focus is on fulfilling the need for catheters, and reducing complications associated with their use, specifically infections.
The Asia Pacific region, has growing awareness of urinary disorder with increasing healthcare expenditure is rising the growth of the foley catheter market in this region.
This region has the presence of the rapidly aging population particularly in countries like China and India. This rise in the elderly population segment, particularly with urinary disorders, will further increases the demand for Foley catheters. The rising disposable incomes and a growing middle class will likely create additional demand for these medical devices.
Key Takeaways
- The report clarifies that several factors are influencing the market’s growth, including a rise in surgical procedures, an increasing geriatric population, and advancements in catheter technology.
- The report acknowledgesthat catheter-related infections and strict regulations pose challenges. However, these also present opportunities for R&D in safer and more effective catheters.
- The report emphasizes that North America dominates the market due to a well-established healthcare system and high healthcare spending.
- Understandingthe focus on innovation in catheter design and materials is crucial, as it aims to improve patient comfort and reduce infection risks.
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Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Foley Catheter Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Foley Catheter Market Segmentation, By Product Type
Chapter 9 Foley Catheter Market Segmentation, By Material
Chapter 10 Foley Catheter Market – Regional Analysis
Chapter 11 Company profile
Chapter 12 Competitive Landscape
Chapter 13 Use Case and Best Practices
Chapter 14 Conclusion
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