February 28, 2024

Foley Catheters Market is driven by increasing incidence of urinary incontinence

A Foley catheter is a flexible tube inserted into the bladder through the urethra to drain urine from the bladder. Foley catheters are used to treat urinary retention or incontinence after surgery. The catheter allows persistent drainage of urine from the bladder and is left indwelling for various periods based on the condition being treated. Growing geriatric population and rising incidence of urinary incontinence and bladder obstruction issues are major factors driving the need for foley catheters.

The Global Foley Catheters Market is estimated to be valued at US$ 1.64 billion in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period from 2023 to 2030.

Key Takeaways
Key players operating in the Foley Catheters market are C.R. Bard, Inc., Teleflex Incorporated, Medtronic, Inc., ConvaTec, Inc., Medline Industries, Inc., B. Braun Melsungen AG, Create Medic Co. Ltd., Fuji Systems Corporation, and Cook Medical Group, Inc. The increasing prevalence of urinary incontinence is propelling the demand for foley catheters. As per the National Association for Incontinence, it is estimated that 25 million Americans experience urinary incontinence daily. Growing aging population prone to urological issues also contributes to market growth. With rising medical expenditures, major players are expanding their presence globally especially in emerging markets of Asia Pacific and Latin America.

Market Key Trends
One of the major trends in the foley catheters market is the introduction of advanced catheters to reduce risks of complications. Players are focusing on developing catheter materials, coatings and designs that minimize risk of infections, encrustations and obstructtions. For example, hydrogel coatings on catheters prevent encrustations and blockages. Similarly, antimicrobial coatings kill bacteria and prevent catheter-associated urinary tract infections (CAUTIs). With growing preference for minimally invasive procedures, manufacturers are also offering slim, small French size catheters to reduce patient discomfort.

Porter’s Analysis
Threat of new entrants: Foley catheters require FDA approval for production and manufacturing facilities also need extensive investment which limits new companies. Bargaining power of buyers: Large healthcare facilities and hospitals have more negotiation power over pricing whereas individual buyers have limited impact. Bargaining power of suppliers: Major suppliers for raw materials like latex and PVC have established relationships with key foley catheters manufacturers limiting their influence. Threat of new substitutes: Though intermittent catheters provide alternatives, foley catheters are still preferred for its ease of application and drainage. Competitive rivalry: Being a well established market, companies compete intensely on product quality, service and branding.

Geographical Regions
North America accounts for the largest share of the foley catheters market owing to growing aged population, increasing urological conditions and developed healthcare infrastructure. The United States represents the major market in the region.

The Asia Pacific region is poised to grow at the fastest pace during the forecast period on account of rapidly rising geriatric population, improving access to healthcare facilities and increasing awareness. Japan, China and India are expected to drive the market in the Asia Pacific due to large pool of patients and enhancement in healthcare spending.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research

2. We have leveraged AI tools to mine information and compile it