The Foley catheter market is on the verge of substantial growth, with an estimated valuation of USD 1,565 million in 2023. According to projections, the market is expected to reach an impressive USD 2,641 million by 2033, expanding at a compound annual growth rate (CAGR) of 5.4% over the forecast period from 2023 to 2033.
Foley catheters play a critical role in medical settings by facilitating urinary drainage and managing urinary retention, particularly in hospitalized patients and those requiring long-term care. The market’s growth is driven by the increasing prevalence of urological disorders, rising geriatric population, and advancements in catheter design and materials.
The Foley catheter market is expected to experience steady growth over the next decade, driven by technological advancements and an increasing focus on improving patient care. The market’s expansion will be further supported by rising healthcare expenditure and the continuous development of healthcare infrastructure worldwide.
Request a Sample Copy of This Report Now:
https://www.futuremarketinsights.com/reports/sample/rep-gb-7769
A primary motivator for the foley catheter market is the growing adoption of minimally invasive surgical techniques. These treatments are becoming more and more well-liked due to their quicker recovery periods and decreased possibility of negative outcomes. Foley catheters are required for a number of minimally invasive therapies, which is expected to drive market growth over the course of the estimated period.
However, the foley catheter industry has several challenges, such as CAUTIs, or catheter-associated urinary tract infections. In addition to being a significant cause of morbidity and mortality among hospitalized patients, CAUTIs are associated with increased healthcare costs. Novel catheter coatings and materials that can reduce the risk of CAUTIs have been developed as a result.
The growing competition from complementary therapies like sacral nerve stimulation and pelvic floor muscle training presents another difficulty for the foley catheter market. Because of these non-invasive methods’ long-term efficacy, they are becoming more and more well-liked. This is predicted to partially impede the market’s growth for foley catheters.
The foley catheter market is anticipated to expand throughout the forecast period in spite of these obstacles. A growing number of people are becoming older, urological problems are becoming more common, and less invasive surgical techniques are becoming more and more popular, all of which are contributing to this growth. Businesses in the foley catheter sector must concentrate on creating cutting-edge catheter coatings and materials that can lower the risk of CAUTIs and enhance patient outcomes if they want to stay competitive.
Key Takeaways from the Foley Catheter Market:
- The top product in the foley catheter industry is the 2-way catheter, which is expected to rise at a CAGR of 8.8% from 2023 to 2033.
- Hospitals are the top-end user of the foley catheters industry, with a projected CAGR of 8.8% during the forecast period.
- The United States foley catheters industry is expected to reach US$ 756.7 million by 2033, with a CAGR of 5.7% during the forecast period.
- China is expected to see a CAGR of 5.9% from 2023 to 2033, with a market size of US$ 119.9 million by 2033.
- The Canada foley catheters industry is expected to reach US$ 102.1 million by 2033, with a CAGR of 4.0% during the forecast period.
- Germany is expected to see a CAGR of 5.9% during the forecast period, with a market size of US$ 111.7 million by 2033.
- The United Kingdom foley catheters industry is expected to reach US$ 159.5 million by the end of the forecast period during the forecast period, with a CAGR of 5.8% from 2023 to 2033.
Rise of Antimicrobial Coatings and Silicone-based Catheters Fuels Competition in the Market
The global foley catheter industry is highly competitive, with numerous sizable companies operating in the market. The market is characterized by the presence of several leading players, along with numerous regional players and new entrants.
The industry is dominated by prominent players such as B. Braun Melsungen AG, Coloplast A/S, Cook Medical LLC, CR Bard Inc., Medline Industries Inc., and Teleflex Inc. These companies are well-established and have a strong presence in the global market. They focus on developing innovative and advanced products to maintain their position in the market. These players also engage in strategic collaborations, partnerships, and mergers and acquisitions to expand their business and enhance their product portfolio.
In addition to the key players, several regional players also play a significant role in the market. These companies focus on catering to the specific needs of their respective regions. They offer cost-effective and customized products to their customers. Regional players include companies such as Hollister Incorporated, Manfred Sauer GmbH, and Bactiguard AB.
Several new entrants are entering the market, intensifying the competition. These companies are focusing on developing low-cost products to gain a foothold in the market. These players include companies such as ASID BONZ GmbH, Amsino International Inc., and Fuqing Medical.
Customization Available:
https://www.futuremarketinsights.com/customization-available/REP-GB-7769
Key Segments
Type:
- 2 Way
- 3 Way
- 4 Way
Material:
- Latex Foley Catheter
- Hydrogel-coated Latex Foley Catheters
- Silicon-coated Latex Foley Catheter
- Silver-coated Latex Foley Catheters
- PTFE (polytetrafluoroethylene) (Teflon)
- Coated Latex Foley Catheters
- Silicon Foley Catheter
- Hydrogel-coated Silicone Foley Catheters
- Pure Silicone Foley Catheters
- Silver-coated Silicon Foley Catheters
- Others
Indication:
- Urinary Incontinence
- Urethral Stricture
- Chronic Obstruction
- Neurogenic Bladder
- Enlarged Prostate Gland/BPH
- Prostate Cancer
- Others
End User:
- Hospitals
- Long-term Care Facilities
- Others
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa
Discover Detailed Market Analysis: Purchase Now to Access:
https://www.futuremarketinsights.com/checkout/7769
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
