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A Foley catheter is a flexible tube inserted into the bladder through the urethra for draining urine from the bladder into a collection bag. They are commonly used in surgical, critical care, and long-term settings to relieve urinary retention or incontinence. Foley catheters are inserted in patients who require extended bladder drainage or who are unable to pass urine due to conditions like spinal cord injury, multiple sclerosis, or enlarged prostate. The increasing prevalence of urinary incontinence due to rising elderly population is driving the demand for Foley catheters.
The global Foley Catheters Market is estimated to be valued at US$ 1.64 billion in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising cases of urinary incontinence offer significant growth opportunities for the Foley catheters market. According to data by the National Association for Continence, over 25 million Americans experience urinary incontinence issues on a daily basis. Around 13 million people in the US alone are impacted annually. The rising geriatric population is a key driver behind increasing prevalence of urinary incontinence as age is one of the strongest risk factors. Older adults have weaker pelvic floor muscles which prevents them from holding urine. Chronic conditions like diabetes also damages nerves and weakens muscles controlling urination. Technological advancements in catheters aimed at reducing infection risks and improving patient comfort are positively impacting their adoption rates in hospitals and long-term care facilities. However, risks of complications like blockages, leakage, and infections associated with long-term catheter use may limit market growth.
Segment Analysis
The foley catheters market is dominated by two-way catheters segment. Two-way catheters are estimated to account for over 70% of the market share due to their effectiveness in drainage of urine from the bladder along with intermittent straight catheterization. These catheters also finds extensive usage for post-surgery short-term urinary drainage.
Pest Analysis
Political: The growth of the foley catheters market is positively influenced by supportive government policies and regulations towards advanced healthcare systems across major countries.
Economic: Rising geriatric population susceptible to urological diseases and increasing healthcare spending is fueling the market growth.
Social: Growing awareness regarding various urological treatments and easy availability of foley catheters through multiple distribution channels is driving the market.
Technological: Manufacturers are focusing on development of advanced foley catheters featuring enhanced drainage, retention and comfort. growing popularity of hydrophilic-coated and antimicrobial-coated catheters.
Key Takeaways
The global Foley Catheters Market is estimated to be valued at US$ 1.64 billion in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030.
Regional analysis suggests North America leads with over 30% market share owing to established healthcare infrastructure and growing elderly population susceptible to urinary disorders. Europe is another major regional market supported by availability of advanced products and favorable reimbursement policies. The Asia Pacific region is witnessing fastest growth in the foley catheters market fueled by rising medical tourism, increasing healthcare spending and large untapped markets in emerging countries like India and China.
Key players related content comprises
Key players operating in the foley catheters market are C.R. Bard, Inc., Teleflex Incorporated, Medtronic, Inc., ConvaTec, Inc., Medline Industries, Inc., B. Braun Melsungen AG, Create Medic Co. Ltd., Fuji Systems Corporation, and Cook Medical Group, Inc. C.R. Bard dominates with over 20% market share owing to its well-established product portfolio and global footprint.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
