Foley Catheter Market Overview Analysis, Trends, Share, Size, Type & Future Forecast to 2032

In 2021, the market for Foley Catheter worldwide was worth $ 1.7 billion US dollars. AMR Group projects that the market will reach US$ 7.5 billion by 2031, growing at a CAGR of 6 percent between 2022 and 2031.

Industry Overview
Foley catheters are sterile, thin, flexible tubes made of silicone or latex. Foley catheters are utilized to treat both chronic and acute conditions. These are placed in the bladder to drain urine. Water inflates a tiny balloon at the end of Foley catheters to keep it from sliding out of the body. Foley catheters can be used for both short and long periods of time, depending on the situation and the patient's condition. Two-way, three-way, and four-way Foley catheter tubes are available. Foley catheters are used in urological procedures like benign prostatic hyperplasia, prostate cancer, and urethral narrowing. Strategic collaborations and new product launches are two of the key strategies used by key players to stay competitive, which is expected to drive segment growth. For example, the Flume Catheter Company Ltd. (TFCC) reported in November 2021 that the FDA had approved the company's plans to market the catheter 'Flume' across the country, which is expected to spur market expansion.

According to manufacturer research results (Ethicon Endo-Surgery, Inc.), minimally invasive surgeries are rapidly replacing invasive surgeries due to factors that include increased patient satisfaction due to fewer incision wounds, involve a relatively lower number of health care stays, and thus are economically viable, involve a lesser number of postsurgical complications, and have lower mortality rates. Foley catheters are now used majorly in minimally invasive surgeries, causing it to rise in demand for minimally invasive surgeries to boost the market during the forecast period.

Market Dynamics
The global Foley Catheter market is increasing due to rising demand for urological surgeries is inducing the growth in the demand for Foley catheters globally. Furthermore, strategic collaborations and new product launches are among the key strategies used by key players to stay competitive, which is expected to drive segment growth. For example, Poiesis Medical, a Florida-based manufacturer of urine drainage systems, received an innovative technology contract from Vizient Inc., a Texas-based company, in March 2019 for its Duette dual balloon indwelling urinary catheters.

Among the key factors contributing to market growth are technological advancements combined with product launches to streamline procedures and make them safer and more cost-effective. For example, in December 2018, NanoVibronix, Inc., a New York-based medical device company, expanded its distribution agreement with MDS Pharm Ltd. for UroShield, an ultrasound-based product designed to prevent bacterial infections. Furthermore, High product failures and recalls are the factors that is likely to hamper the growth of the Foley Catheter which may restrain the market growth.

COVID Impact
The COVID-19 pandemic gave a negative impact on the Foley Catheter business market. The COVID-19 pandemic became as a global health crisis & inflicted notable disease rise and financial adversities on several sectors of the global economy. Many sectors including the healthcare industry have been through a significant transition during the first half of 2021. The pandemic has caused a delay in several medical procedures. During the pandemic, the urological practice disrupted and quarantine led several orthodontists and patients to communicate using online telemedicine services. The outburst of the COVID-19 pandemic reduced the industry to disruptor in terms of product adoption and this trend is expected to get better in coming years.

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Regional Trend
Geographically, North America dominated the Foley Catheter market and had the largest revenue share of 31.83% in 2021. The rising prevalence of chronic kidney disease (CKD) and an ageing population in developed economies are driving demand for Foley catheters used in urological procedures. According to the Centers for Disease Control and Prevention, in 2021, those aged 65 and up are more likely to have CKD (38%) than those aged 18-44 years (6%), or 45-64 years (4%). Furthermore, CKD is more common in women (14% vs. 12%), which is expected to boost the region's growth in the near future.

Asia Pacific region is expected to present outstanding Foley Catheter market opportunities due to the presence of a large population suffering from kidney disease, advancements in medical facilities, and the availability of insurance policies. Furthermore, the presence of a large patient pool, as well as the growing demand for technologically advanced and cost-effective healthcare solutions, is expected to present significant regional growth opportunities in the market.

Competitive Landscape
Key players operating in the Foley Catheter Market include Abbott, AdvaCare Pharma, Advin Health Care, Angiplast Pvt Ltd, B. Braun Melsungen AG, BACTIGUARD AB, Bactiguard AB, BD, Boston Scientific Corporation, C. R. Bard (BD), Cardinal Health., Coloplast Corp., ConvaTec Inc., Cook, CREATE MEDIC., Edwards Lifesciences Corporation., Fuji Systems, GWS Surgicals LLP, HEMC (Hospital Equipment Manufacturing Company), Hollister Incorporated, McKesson Corporation, Medline Industries, Inc., Medtronic, Ribbel International Limited, Sterimed Group, Stryker, SunMed, Teleflex Incorporated, Teleflex Incorporated., Terumo Corporation, and VOGT MEDICAL among others. In 2019, Coloplast signed an agreement with Premier, Inc. to sells its urology products.

Key USP's-
According to the Eurostat published, in 2021, reported that more than 20.8% of the European population with the age of 65 and over 65 grew causing increase in elderly population in the Europe and is projected to increase the demand for Foley Catheter during the coming years.

Market Segmentation
Based upon the Product Type in the Foley Catheter market is segmented in 2-way Foley Catheters, 3-way Foley Catheters, and 4-way Foley Catheters. The 2-way Foley Catheters type dominated the Foley Catheter market in 2021. 2-way Foley Catheters segment rises due to the most common type of indwelling catheter and it has two channels, one for passing urine as well as the other for inflating & deflating balloons. Based on the material, the Foley Catheter market is segmented into Silicone Foley Catheters and Latex Foley Catheters. In the material segment the most dominant market is silicone Foley catheters which acquires the largest Foley Catheter market share in 2021. This segment is driven due to a zone of resistance to bacteria around the catheter surface and inhibits microbial colonization on the device's surface provided by the silicon Foley, reducing the risk of catheter related urinary tract infections. Based on the Indication, the Foley Catheter market is segmented Urinary Incontinence, Enlarged Prostate Gland/BPH and Spinal Cord Injury. The urinary incontinence segment dominated the Foley Catheter market. The large market share of this segment is attributed to the Urinary incontinence, a condition causing an involuntary loss of control of the bladder. It has an impact on long-term care facilities and is one of the main reasons for the admission of elderly people to residential care. Bladder incontinence is a result of various factors, like changes in the urinary tract because of age, UTIs, and other indirect conditions such as diabetes, stroke, cancer, & mobility impairment.

End user segment of Foley Catheter market is further bifurcated into Hospitals and Long Term Care Facilities. The hospital category has held the largest share of the global market in 2021. Demand for medical equipment, including Foley Catheter, is high in hospitals due to the rising number of patients visiting for treatment.

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

By End User
• Hospitals
• Long Term Care Facilities

Global Foley Catheter Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Foley Catheter market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

Global Foley Catheter Market: Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of various marketspaces. The key players in the markets are identified through secondary research, and their market contributions in different applications across regions and globally were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Analytics Market Research added before being presented in this report.

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Key Indicators Analysed
Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market's competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.

Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.

Market Trends: Market key trends which include Increased Competition and Continuous Innovations.

Opportunities and Drivers: Identifying the Growing Demands and New Technology
Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry

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