March 06, 2023 4:07 p.m. ET |Source: Market.Us Market.Us
New York, March 06, 2023 (GLOBE NEWSWIRE) -- The global foley catheter market size was USD 1,640 million in 2022. Foley catheter market is Set for Explosive Growth, To Reach Around USD 2,868 million by 2032, Growing at 5.9% CAGR during the forecast period 2023 to 2032. A Foley catheter is a thin, flexible tube inserted into the bladder to drain urine. It is also referred to as an indwelling catheter because it is placed in the bladder for a period of time. It is commonly used for people who are unable to urinate on their own due to a medical condition or after surgery. Nasal Endotracheal Tube Without Cuff
The catheter is inserted into the bladder through the urethra, and a small balloon at the end of the tube is inflated to keep it in place. The Foley catheter is typically connected to a drainage bag, which collects the urine and is emptied regularly. Foley Catheters are available in many sizes. These depend on important factors such as the size of the Foley Catheter and the person's medical needs.
To get additional highlights on major revenue-generating segments, Request a foley catheter market sample report at https://market.us/report/foley-catheter-market/request-sample/
The geriatric population shows an increase in urological diseases, and at the time of placing the catheter, there is a possibility of irritation or difficulty if the catheter is too big. If the Foley Catheter's size is small, it can cause leakage and kink.
Factors Affecting the Growth of the Foley Catheter Market?
Several factors can affect the growth of the foley catheter market. Some of these factors include:
To understand how our report can bring a difference to your business strategy, Inquire about a brochure at https://market.us/report/foley-catheter-market/#inquiry
As a result of changing lives and an increase in urological disorders globally, there is a growing demand for foley catheters. The market will grow due to increased government spending, investment by key market players, and awareness programs run by various organizations. The Urological Society of India has published guidelines to increase awareness about urinary problems in India. The Korean Incontinence Society in South Korea is also working towards raising awareness about urological problems related to the lower urinary tract and pelvic floor. These factors are expected to increase the market's growth during the forecast period. The market for foley catheters is also anticipated to grow over the projected period as a proactive treatment for urological disorders gives way to preventive care.
North America held 31.8% of the Global Foley Catheter Market's largest revenue share. North America is expected to retain its dominance throughout the forecast period due to technological advancements in the healthcare industry's rising prevalence of urological diseases. Europe is the second largest market for Foley catheters due to the increasing healthcare expenditure, a large pool of patients with urological diseases, and the presence of key players in the market. Asia Pacific is the fastest-growing region in the global Foley catheter market and is expected to register a significant CAGR during the forecast period due to the increasing geriatric population, rising prevalence of urological diseases, and the presence of a large patient pool in the region. Latin America and the Middle East, and Africa are expected to witness moderate growth in the global Foley catheter market due to the presence of limited resources and a lack of awareness about the benefits of Foley catheters.
Have Queries? Speak to an expert or To Download/Request a Sample, Click here.
Foley catheters are majorly used in urgent care units due to the increasing number of surgeries and longer hospital stays. According to WHO data, 12.0%-16.0% of adults in acute hospitals in the United States use foley catheters. These factors will drive the market for foley catheters during the forecast period. Foley catheter demand is expected to rise due to increasing incidences of BPH and urinary incontinence worldwide. Additionally, the high demand for urinary catheters is because these catheters are used highly in the geriatric population, so there is an increase in the number of nursing home patients, which increases the prevalence of disease rates. Also, obesity in people of Europe and North America is simultaneously growing, so their demand for urinary catheters during the forecast period is increasing.
It is anticipated that challenges to market expansion will include patients being advised to avoid catheterization. Poor lubrication can cause friction, which can lead to infection and bleeding. UTIs and CAUTIs require extra care. These conditions can lead to non-invasive or even invasive treatment. These drawbacks can restrict the market for urinary bladder catheters.
The opening up of new economies due to low barriers has resulted in an increase in market growth. This trend is expected to continue, with market flexibility allowing leading players to enter emerging nations like India, South Korea, and others. Technological advances, such as B. Braun's production facilities in Penang and Zambia, are further driving product innovation and development for the market. Furthermore, internet penetration, rising acceptance of urinary surgical procedures, introduction of new goods and treatments, and increasing per capita healthcare spending will all contribute to the growth rate of the market in the forecast period of 2023 to 2032.
Grow your profit margin with Market.us - Purchase This Premium Report at https://market.us/purchase-report/?report_id=95680
Report Segmentation of the Foley Catheter Market
According to product type, there are three main segments in the Foley Catheter global market such as 2-way Foley Catheter (Foley Catheter), 3-way Foley Catheter (Foley Catheter), and 4-way Foley Catheter. Because of its low cost, the 2-way segment led the Foley Catheter market in 2022. Foley Catheters are widely accepted for their ability to provide short-term and long-term catheterization. 3-way Foley Catheters are more lumen-efficient at the time of installation, and because there is less bladder irrigation during urological surgery, they expect a higher CAGR during the forecast period. Four-way Foley must show moderate CAGR during the forecast period because the market growth is slower than other catheter types.
Based on material type, the market is segmented into three types such as latex, silicon, and other Material. The silicone segment dominated with the largest market share, owing to its rigidity, longer shelf life, and biocompatibility. The latex catheter segment used a larger amount due to its minimal cost and flexibility. On the other hand, new latex products are made of materials such as Teflon, hydrogel, and new soft materials, which may cause infection in patients and eventually restrain the growth of the latex segment.
According to application type, the Foley Catheters global market is divided into surgery, benign prostatic hyperplasia, urinary incontinence, and other applications. The urinary incontinence segment held the largest revenue share of the Foley Catheters market in 2022 because patients with foley catheters have a high incidence of urinary incontinence, and expected to help the growth of the foley catheter market.
The Foley catheter market is expected to grow in the future due to the increased use of Foley catheters in hospitals and specialty clinics. The long-term care facility segment is expected to gain a significant share due to an increasing number of patients with urinary incontinence who require long-term catheterization in-home care centers.
For more insights on the historical and Forecast market data from 2016 to 2032 - download a sample report at https://market.us/report/foley-catheter-market/request-sample/
To maintain the demand for various applications leading players are getting a higher quality product through acquisitions and mergers. Some of the key players include:
Recent Development of the Foley Catheter Market
Yankauer Handle Flat Tip With Hole Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.