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DUBLIN, Jan. 25, 2023 /PRNewswire/ -- The 'global foley catheter market size, share & industry trends analysis report by indication, by product type (2-way, 3-way and 4-way), by material, by end-user (hospitals, long term care facilities), by regional outlook and forecast, 2022 - 2028' report has been added to
The Global Foley Catheter Market size is expected to reach $2.2 billion by 2028, rising at a market growth of 5.4% CAGR during the forecast period.
Market Growth Factors
I ncrease In Occurrence Of Urological Disorders
The prevalence of urological disorders is rising across the globe. Urologic disorders and conditions affect almost all ages, induce high healthcare costs and could even result in disability and negatively impact the quality of life. Kidney stones, urinary tract infections, and urinary incontinence are some examples of non-cancer urological diseases and health issues. As a result of this, the rising number of urological disorders is anticipated to contribute to market expansion across the globe.
Growing Number Of Old Aged People Worldwide
According to the World Health Organization, the number of people aged 60 and above is gradually rising. The number of old aged people in 2019 was 1 billion. This number is predicted to reach 1.4 billion by 2030 and 2.1 billion by 2050. The number is increasing at an unprecedented pace, especially in developing nations. This imposes immense pressure on healthcare providers to provide better facilities to tackle the situation. Thus, the demand for foley catheters would grow due to the widening base of the old aged population.
Based on product type, the foley catheter market is segmented into 2-way foley catheters, 3-way foley catheters and 4-way foley catheters. The 3-way foley catheters segment acquired a significant revenue share in the foley catheter market in 2021. The three-way catheters consist of three ports, one for draining urine, the second for balloon inflation, and a third port to irrigate the bladder for preventing and managing blood clots. The 3-way foley catheters enable continuous bladder irrigation
On the basis of material, the foley catheter market is bifurcated into silicone, and latex. In 2021, the silicone segment held the largest revenue share in the foley catheter market. The silicone-based catheters have a lubricious covering that is permanently pervaded with ions. The ionic bonding keeps the silver in a hydrophilic coating. The silicone coating resists the bacteria and impedes microbial colonization on the surface of the catheter. The key benefit of this type of catheter is that they are adequate to be used for the person with sensitive skin as they are non-allergic.
By indication, the foley catheter market is fragmented into urinary incontinence, enlarged prostate gland/BPH, spinal cord injury and others. In 2021, the urinary incontinence segment witnessed the highest revenue share in the foley catheter market. Urinary incontinence refers to the involuntary loss of control of the bladder. The condition could be developed due to various factors, including UTIs, changes in the urinary tract due to aging, and the pre-existence of health issues such as stroke, cancer, diabetes, and mobility impairment.
Based on end-user, the foley catheter market is classified into hospitals, long term care facilities and others. The long-term care facilities segment recorded a prominent revenue share in the foley catheter market in 2021. This is due to the growing acceptance of minimally invasive surgeries and the cost-effectiveness of treatment provided in these facilities. These facilities provide benefits such as shorter hospital stays, same-day release, and faster procedure time and thus are most preferred by the patients.
Key Market Players
List of Companies Profiled in the Report:
Medtronic PLC B.Braun Melsungen AG Cardinal Health, Inc. Bactiguard Holding AB ConvaTec Group PLC Teleflex, Inc. Coloplast Group Sterimed Group GWS Surgicals LLP Hollister, Inc.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Global Foley Catheter Market by Indication
Chapter 4. Global Foley Catheter Market by Product Type
Chapter 5. Global Foley Catheter Market by Material
Chapter 6. Global Foley Catheter Market by End-user
Chapter 7. Global Foley Catheter Market by Region
Chapter 8. Company Profiles
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SOURCE Research and Markets