Number of pages: 100 | Report Format: PDF | Published date: September 29, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
Report Attribute |
Details |
Market size value in 2021 |
US$ 1.69 billion |
Revenue forecast in 2030 |
US$ 2.63 billion |
Growth Rate |
CAGR of 5.70% from 2022 to 2030 |
Base year for estimation |
2021 |
Forecast period |
2022-2030 |
The global foley catheters market was pegged at US$ 1.69 billion in 2021 and is expected to witness a CAGR of 5.70% during the forecast period.
Market Fundamentals
A foley catheter in urology is a flexible tube which is inserted into the bladder through the urethra to drain urine. The tube contains two distinct lumens that run the length of it. Using a foley catheter is beneficial in removing fluid and waste from the body when an individual is suffering from incontinence. In order to prepare for various types of surgery, catheters are used to remove urine from the patient's body. Urinary catheters are recommended for disorders like urine incontinence (UI), urinary retention, prostate surgery, or other diseases like dementia, multiple sclerosis, or spinal cord injury.
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Market Dynamics
Some of the major trends influencing the market growth includes rising cases of malignancies in the urinary tract or reproductive organs, an increase in patients with urethral obstructions and UTIs, and the fast-expanding geriatric population. Additionally, the foley catheters market is anticipated to benefit from growing developments in catheters that promote patient comfort. Antibacterial coatings that reduce the frequency of catheter-associated urinary tract infections will increase the demand for foley catheters. However, high cost and lack of reimbursement policies can restrain the global foley catheters market.
Market Ecosystem
The global foley catheters market has been analyzed from three perspectives: product, application, and region.
Foley Catheters Market by Product
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Based on product the global market for foley catheters is signeted into two-way, three-way, and four-way. The two-way segment has dominated the market. The two-way foley Catheter is a long and flexible tube that is placed into the bladder to drain urine. A retention balloon and drainage eyes are placed on the catheter's one end. A retention balloon keeps the catheter in the bladder. Two connectors are located on the foley catheter's other end. The 3-way urinary catheters available, which feature a third lumen for water flushing into the bladder. The four-way catheters offer four lumen which are involved in hydration or suction of the surgical site while the other three serve as drainage conduits, inflation and deflation valves, or continuous irrigation ports.
Foley Catheters Market by Application
Based on application, the global foley catheters market is segmented into benign prostatic hyperplasia, urinary incontinence, and surgery. The urinary incontinence segment has majority of shares. The inability to regulate urination, which can range from a minor loss of urine after laughing, sneezing, or coughing to a full lack of bladder control. Catheters in incontinence can either introduce through the tube that exits bladder (a urethral catheter) or through a tiny hole drilled into the lower part of your stomach (suprapubic catheter). As long as the catheter is in the bladder, urine can pass through it and into a drainage bag. Catheters do have great advantages in surgical procedures, patients undergoing surgical operations regularly uses foley catheters. They help the anaesthetized patient avoid bladder distention or incontinence and make it easier to assess urine flow both during and after operation.
Foley Catheters Market by Region
Regionally, the global foley catheters market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North America has dominated the market in terms of region. Factors influencing this growth are availability of advanced interventional urinary catheters as well as a rise in surgical operations performed in the country are all contributing to the rapid growth of the foley catheter market in the United States. The rising prevalence of specific disorders such benign prostatic hyperplasia, bladder cancer, urinary retention, and obstruction is another factor driving the regional market. Through the evaluation period, Europe is expected to continue to be the second-most lucrative market. A WHO survey revealed that indwelling catheterization is linked to a sizable fraction of mortality from urinary infections. Healthcare organizations in the area have also ordered periodic catheters replacements in an effort to reduce deaths and costs, which has increased demand for more hospital and nursing home beds. The demand is particularly strong in Asia, and especially strong across China and India. The growth in this region is growing due to factors such as large population base, rising incidences of incontinence, high usage in hospitals during surgical procedures.
Competitive Landscape
Some of the prominent players operating in the global foley catheters market are
The major trends influencing the market growth includes rising cases of malignancies in the urinary tract or reproductive organs, an increase in patients with urethral obstructions and UTIs, and the fast-expanding geriatric population. Additionally, the foley catheters market is anticipated to benefit from growing developments in foley catheters that promote patient comfort. Antibacterial coatings that reduce the frequency of catheter-associated urinary tract infections will increase demand for foley catheters.
High cost and lack of reimbursement policies can restrain the global foley catheters market.
The global foley catheters market was pegged at US$ 1.69 billion in 2021 and is expected to witness a CAGR of 5.70% during the forecast period
The global foley catheters market is expected to clock US$ 2.63 billion by 2030.
Regionally, the global foley catheters market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North America has dominated the market in terms of region.
*Insights on financial performance is subject to availability of information in public domain