Foley Catheter Market Size Worth USD 3.00 Billion in 2032 | Emergen Research

Increasing elderly population and technological advancements in foley catheter are key factors driving Foley Catheter Market revenue growth.

Vancouver, Jan. 16, 2024 (GLOBE NEWSWIRE) — The foley catheter Market size was USD 1.72 Billion in 2022 and is expected to register a rapid revenue CAGR of 5.90% during the forecast period. Increasing elderly population and technological advancements in foley catheter are key factors driving market revenue growth.

In addition, increasing prevalence of chronic kidney disease is another key factor is driving revenue growth of the market. There is a rising prevalence of age-related urological conditions, including urinary incontinence, Benign Prostatic Hyperplasia (BPH), and kidney stones with the aging of global population. The progress in diagnostic technologies has played a pivotal role in enabling the early identification and management of urological conditions, thereby increasing utilization of foley catheters for purposes of monitoring and treatment.

Moreover, increasing geriatric population is also expected to drive market revenue growth during the forecast period. The aging contributes to the weakening of muscles in bladder and pelvic floor, resulting in increased difficulty in complete bladder emptying. Consequently, urinary retention becomes prevalent, necessitating catheterization. Elderly individuals are prone to undergoing various surgical interventions and medical procedures that entail temporary catheter utilization for purposes of bladder drainage and monitoring. Geriatric patients often contend with multiple chronic conditions, such as diabetes and heart disease,

The presence of alternative options is a key factor, which could restrain market revenue growth. Intermittent catheterization exhibits lower UTI rates, enhanced bladder function, and improved quality of life compared to other catheter types, indicating their viability as an alternative to Foley catheters in specific scenarios. This method involves periodic catheter insertion and removal throughout the day for bladder emptying, offering increased patient autonomy and independence. This approach minimizes complications, such as Catheter-Associated Urinary Tract (CAUTIs) and bladder atrophy compared to foley catheters. Although initially more economical, Foley catheters, when contrasted with options such as pelvic floor muscle training, prove to be less cost-effective in the long term due to reduced healthcare expenses linked to catheter-related complications.

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Segment Insights

Product Type Insights:

On the basis of product type, the global foley catheters market segmented into 2-way catheter, 3-way catheter, 4-way catheter, and others.

The 2-way catheter segment accounted for largest revenue share in the global foley catheter market in 2022 because 2-way catheters provide dual functionality such as drainage and irrigation. This eliminates the need for a separate irrigation catheter, simplifying procedures and reducing patient discomfort. The single-lumen design of 2-way catheters minimizes potential for tissue irritation and bleeding compared to 3-way or 4-way catheters with multiple lumens. In addition, the irrigation channel enables continuous bladder flushing, which helps to prevent blood clots and encrustation, lowering the risk of UTIs. Innovations in materials and coatings, such as antimicrobial and anti-encrustation properties, are further enhancing the safety and efficacy of 2-way catheters.

End Use Insights:

On the basis of end use, the global foley catheters market is segmented into hospital, medical research center, Ambulatory Surgical Center (ASC), and others.

The hospital segment is expected to register fastest revenue growth rate in the global foley catheters market during the forecast period. This is due to increasing healthcare expenditure and government initiatives and rising need for healthcare policies and development of healthcare infrastructure. The World Health Organization (WHO) estimates global health expenditure at a record high of USD 9 trillion, representing approximately 11% of the global Gross Domestic Product (GDP). Hospitals, catering to a diverse patient population with varied medical conditions, frequently employ foley catheters both during and post-surgeries to manage urinary drainage and avert complications. In addition, long-term catheterization becomes necessary for individuals with chronic conditions, such as urinary incontinence, prostate complications, or spinal cord injuries, often overseen within hospital environments.

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Regional Insights:

The North America market accounted for largest revenue share in the global foley catheters market in 2022 due to rising prevalence of chronic diseases such as diabetes and kidney ailments. According to the Centers for Disease Control and Prevention (CDC), kidney diseases rank among the leading causes of mortality in the U.S. A staggering 37 million adults in the U.S. grapple with chronic kidney disease, with a significant portion going undiagnosed. Dialysis treatment for kidney failure commences for 360 individuals every 24 hours. Notably, diabetes and high blood pressure constitute the primary culprits behind three-quarters of new cases of kidney failure in the U.S.

In addition, strategic initiatives and collaborations among major companies, particularly for development of foley catheters, is also expected to drive market revenue growth of this region during the forecast period. For instance, on 4 November 2021, Flume Catheter Company announced Food and Drug Administration (FDA) approval to market its revolutionary FLUME catheter in the U.S. This innovative design tackles limitations of the 1930s foley catheter, notorious for causing infections, blockages, pain, and financial burdens. Unlike its clunky predecessor, the FLUME catheter has a unique balloon design that promises a more comfortable and effective urinary drainage experience for patients, hopefully leading to better health outcomes and reduced costs for healthcare systems.

The Europe market is expected to account for considerably large revenue share in the global foley catheters market over the forecast period due to advanced healthcare infrastructure. European healthcare systems place a premium on cost-effectiveness without compromising care quality. In response, manufacturers are innovating to create foley catheters that offer extended durability and features to mitigate complications, ultimately curbing healthcare spending. In addition, region’s manufacturers actively engage in Research & Development (R&D), resulting in the introduction of progressive foley catheters featuring attributes such as antimicrobial coatings, self-adhering mechanisms, and remote monitoring capabilities.

Scope of Research

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Major Companies and Competitive Landscape

The global foley catheter market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective foley catheter products. Some major players included in the global foley catheter market report is:

• Sterimed Group
• ANGIPLAST PRIVATE LIMITED
• Cardinal Health
• Advin Health Care
• AdvaCare Pharma
• Teleflex Incorporated
• Medtronic
• Convatec Inc.
• B. Braun SE
• Ribbel International Limited

Strategic Development

• On 13 September 2022, Potrero Medical gained FDA clearance and Breakthrough Device Designation for its AI-powered system predicting Acute Kidney Injury (AKI) in high-risk cardiac surgery patients. Analyzing continuous urine output and intra-abdominal pressure, this tool offers early detection, enabling faster intervention and improved outcomes for critically ill patients.
• On 12 July 2022, Medtronic announced its partnership with CathWorks to revolutionize diagnosing Coronary Artery Disease (CAD). Traditional methods rely on invasive ‘FFR’ procedures, which are inconvenient and underutilized. CathWorks’ FFRangio System uses AI and advanced imaging to deliver fast, accurate FFR values from routine X-rays, ditching the wires and drugs. This partnership significantly improves diagnosis and treatment for millions with CAD.

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For the purpose of this report, Emergen Research has segmented the global foley catheter market on the basis of product type, material, indication, end use, and region:

• Product Type Outlook (Revenue, USD Billion; 2019-2032)
  • 2-way catheters
  • 3-way catheters
  • 4-way catheters
  • Others
• Material Outlook (Revenue, USD Billion; 2019-2032)
  • Silicone
  • Latex
  • Hydrophilic polymer coated latex
  • Silicone elastomer coated latex
  • Polytetrafluoroethylene coated
• Indication Outlook (Revenue, USD Billion; 2019-2032)
  • Urinary incontinence
  • Enlarged prostate gland
  • Others
• End Use Outlook (Revenue, USD Billion; 2019-2032)
  • • • • Hospital
        • Medical research center
        • Ambulatory Surgical Center (ASC)
        • Others
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Russia
    8. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. India
    5. ASEAN Countries
    6. Oceania
    7. Rest of APAC
  • Latin America
    1. Brazil
    2. Mexico
    3. Rest of LATAM
  • Middle East & Africa
    1. GCC Countries
    2. Israel
    3. Turkey
    4. South Africa
    5. Rest of Middle East & Africa

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