ID: MRFR/MED/0417-CR | 103 Pages | Published By Kinjoll Dey on July 2017
The Foley Catheters Market is expected to grow at a CAGR of 7.80% to reach USD 6.87 billion by the forecast period 2022-2030.
COVID 19 Analysis
The arrival, spread, and the different waves of the global pandemic have had a very bad impact on the business, their production units, and the economic activities as a whole. However, this negative impact is believed to be a shortcoming in the foley catheters market. These are ingredients used in surgical applications, and thus, the impact of the pandemic has postponed the surgeries for a temporary time only. This is because more manpower is required in the form of resources to treat the patients who have contracted the coronavirus disease. However, to conduct these surgeries and not let these patients suffer, the government sector is laying down certain guidelines to be followed.
The guidelines have been released to delay the surgeries for the time being to curb the spread of the pandemic. Normalcy for the foley catheters market is expected to be regained, and surgeries for the patients will begin when the government decides to remove the imposed restrictions and lift the lockdown impositions. The key market players are on the way to developing product portfolios for the target audience and ease the pain. The time the surgeries are being put on hold for the availability of beds, ICUs, and other medical equipment for the people having coronavirus.
Foley Catheters Market Dynamics
The Foley Catheters industry size has a lot of growth opportunities available. The high prevalence of issues related to urinary incontinence is a feature that will lead the way to create maximum demand for the foley catheters market. These rates are high in the elder class of the population, along with the demand for burses to cater to the needs of home patients. These catheters help in managing incontinence which cannot be treated with the help of surgeries and medicine. The demand is expected to grow the maximum in the aging population along with an increase in the incidence of obesity.
The process is painful. It involves insertion followed by the removal of catheters that are poorly lubricated, leading to the creation of friction between the urethral walls and the device's surface. These might not be painful in the beginning but, with gradual use, it might lead to narrowing of the urethra, further causing bleeding and infection. Extra care is required to prevent the ill effects in the form of UTIs and CAUTIs.
Emerging economies like those belonging to the APAC region have significant opportunities related to the global growth of the foley catheters industry by the end of the global forecast period in 2030. There are healthcare improvements, reducing the regulatory barriers, along with increasing expenditure to develop the required infrastructure. The APAC region is coming up with regulatory policies that are adaptive and user-friendly as well. These are helping these regions to compete internationally with the developed markets.
Foley Catheters Market Segment Overview
The indwelling catheters market is functioning in the form of various segments and is available to a wide variety of users in different regions. It is imperative to know about the market segmentation of foley catheters, which is as follows:
Based on Type
The types of Foley catheters include 2-Way Foley Catheters, 3-Way Foley Catheter, Coudé Catheter and Councill Tip Catheters
Based on Material Type
The catheters by material type includes Latex, Silicone, Plastic, Natural Rubber.
Based on End User
By end user the market is segmented into Hospitals, Clinics and long term care centers.
Based on application
The applications for the market include urinary incontinence, benign prostatic hyperplasia, general surgery, along with others related to spinal cord injuries, Parkinson's disease, multiple sclerosis, and much more.
Foley Catheters Market Regional Analysis
Based on the regions, the foley catheters market has been segmented into the North American region, European nations, APAC region, along the rest of the world. The North American region is expected to have the largest market share, followed by the European nations. The main reason behind this widespread growth in the US and Canadian market is due to an increased prevalence of diseases, growth of population belonging to the senior citizens' age group, development of healthcare infrastructure along with the increase in the number of surgeries being performed in the North American market.
The second-largest market share is expected to be enjoyed by the European market. There is a lot of scope for the companies belonging to the APAC region to construct their way to global growth by the end of the global forecast period in 2030. The companies belonging to the developing economies of the APAC region are taking many steps on improving healthcare and developing investment and expansion opportunities in the form of mergers and acquisitions to ensure the companies enjoy world leadership in this field. These mergers will lead the way for product enhancement and rising competition for better provision of healthcare infrastructure and facilities.
Foley Catheters Market Competitive Landscape
The report discusses the recent market developments of the foley catheters key players, which further draws a competitive landscape to analyze the global leaders in the domestic, regional, and international markets. The key strategies for growth and development are important for the market's growth on both the regional and the global scale. The prominent players of the market are:
Foley Catheters Market Recent Developments
The Foley Catheter market research report discusses the market overview along with the impact of the pandemic that emerged in late 2019 and 2020 in the world. The impact of the pandemic was worrisome, and hence, the report discusses the market dynamics in the form of drivers and opportunities available to the market to cover up the losses and subsequently face and dissolve the restraints on the path of growth. Also, the report considers the opinions of the key industry leaders and market experts to predict a CAGR growth for the market considering the functioning of the segments in various geographies of the world. The report also mentions the recent developments for the foley catheters market by the end of the global forecast period.
|Market Size||USD 6.87 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type of Material, Type and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||B. Braun Melsungen AG (Germany), Coloplast Ltd (Denmark), Cook (US), Teleflex (US), Medline Industries, Inc. (US), and Medtronic (Republic of Ireland)|
|Key Market Opportunities||Major players of this market are investing in research and innovative product development|
|Key Market Drivers||
The forecast period of 2022 to 2030 would see the market achieving a CAGR of 57.80%.
The Market Valuation Would Grow Up to USD 6.87 Billion.
B. Braun Melsungen AG (Germany), Coloplast Ltd (Denmark), Cook (US), Teleflex (US), Medline Industries, Inc. (US), and Medtronic (Republic of Ireland)
The End Users Are Hospitals, Medical Research Centers, And Ambulatory Surgery Centers.
The North American Foley Catheter Market was Leading the Path In 2016.