Foley Catheter Market Will Reach Us$ 7.5 Billion By 2031, Growing At A Cagr Of 6 Percent Between 2022 And 2031

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

This report on the global market for foley catheters details recent developments, trade laws, production analysis, value chain optimisation, market share, and the effects of domestic and regional market participants. It also examines opportunities for new revenue streams, regulatory changes, strategic market growth analysis, market size, category market expansions, application niches and dominance, product approvals, product launches, and geographic trends. Contact us for an Analyst Brief if you'd like more information on the market for foley catheters; our staff can assist you in making an informed choice that will help your business flourish.

Individual market-impacting elements and domestic market regulation changes that have an affect on the market's present and future trends are also provided in the country part of the foley catheter market research. Some of the key data points used to estimate the market situation for specific nations are consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, and upstream and downstream value chain analysis. When giving prediction analysis of the country data, it also takes into account the presence and accessibility of international brands, the difficulties they encounter owing to strong or weak competition from local and domestic brands, the influence of domestic tariffs, and trade routes.

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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

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.

COVID-19 SCENARIO ANALYSIS:

The COVID-19 outbreak is anticipated to have a modest effect on the market during the forecasted timeframe. The market expansion is probably going to be slowed down by research and development efforts to determine the harm that the SARS-CoV-2 virus poses to the sick individuals. The COVID-19 outbreak has significantly hampered the ability of the global healthcare system to address non-communicable diseases. Providing effective care is difficult. Governments around the world are working to offer patients outstanding, high-quality healthcare as a result of being aware of the unsettling healthcare trends.

Details about each competitor are included in the competitive landscape for foley catheters. The company's financials, revenue generated, market potential, investment in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance are among the details that are included. The information above only relates to the firms' market focus on foley catheters.

Through the urethra, the catheter is introduced into the bladder. To maintain the catheter in place, a little balloon at the end of the tube is inflated. The drainage bag, which collects the urine and needs to be periodically emptied, is commonly linked to the Foley catheter. Foley Catheters come in a variety of sizes. These depend on significant elements including the Foley Catheter's size and the patient's medical requirements.

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