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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Key Takeaways from the Market Study
- By type, 2-way foley catheters to account for over 3/4th of the global revenue
- Latex foley catheters to grab major eyeballs, accounting for over 90% of the market share
- A CAGR of 7.2% is projected for silicone-based foley catheters from 2021 to 2031
- Over 3 out of 5 sales of foley catheters will be across hospitals through 2031
- S likely to reach a market value worth US$ 726 Mn by 2031, with a CAGR of 5.8%
- Asia to exhibit a CAGR of nearly 7%, reaching US$ 286 Mn by the end of the forecast period
- Europe to account for 2/5th of the global foley catheters market
“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.
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.
How will Catheterization-related Complications Impede Expansion?
The insertion and removal of insufficiently lubricated catheters can produce friction between the urethral walls and the device’s surface, which is not only uncomfortable for the patient but can also lead to urethral constriction, bleeding, and infection with repeated use.
To avoid urinary tract infections (UTIs) or catheter-associated urinary tract infections, special precautions must be taken during catheterization (CAUTIs).
As a result, for the treatment of temporary incontinence, there are a variety of invasive and non-invasive therapy methods available. Given the drawbacks of catheterization, their availability is projected to limit the market for urinary catheters.
Country-wise Analysis
What Supports Increasing Foley Catheters in the U.S.?
The U.S market for foley catheters is developing rapidly due to factors such as a high prevalence of diseases, a growing geriatric population, the availability of sophisticated interventional products (including urinary catheters), and an increase in surgical procedures conducted in the region.
It is expected to reach a value of US$ 726 Mn by 2031, with a CAGR of 5.8%. According to projections put forth by Fact.MR, foley catheters revenue in the U.S surpassed 1/3rd of the global market share in 2020. The regional market is also driven by the growing occurrence of targeted diseases, such as urinary retention, bladder obstruction, benign prostatic hyperplasia and bladder cancers.
Category-wise Insights
Why are 2 Way Latex Adult Foley Catheters Preferred?
Adult patients benefit tremendously from a two-way foley catheter. The 2-way foley catheter is constructed of latex bonded with silicone elastomer, which minimizes the possibility of encrustation.
The urinary catheter includes a symmetrical big capacity balloon that assures a straight tip for optimal flow and good sphincter action, preventing bladder leaks. Fact.MR expects the segment to capture 3/4th of the global market share.
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Competitive Landscape
ConvaTec Inc., Becton, Dickinson and Company, Cardinal Health, B. Braun Melsungen AG, Coloplast Corp., Teleflex Incorporated, Bactiguard, Cook Medical, Medline Industries, SunMed and Wellspect HealthCare AB are some prominent foley catheters manufacturers.
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.
- 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.
- Similarly, 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.
Key Segments Covered
· Type
-
- 2-way Foley Catheters
- 3-way Foley Catheters
- 4-way Foley Catheters
· Material
-
- Latex Foley Catheters
- Silicone Foley Catheters
· End User
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- Hospitals
- Ambulatory Surgery Centers
- Long-term Care Centers
- Others
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