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Foley catheters are hollow, flexible tubes that are inserted into the bladder to drain urine from the body. They are commonly used after surgeries such as prostatectomy or repair of incontinence when a person cannot voluntarily urinate. The catheter allows the urine to drain continuously from the bladder through the tube into a collection bag. They come in varying sizes and are made from silicone or natural latex. Foley catheters provide an easy, safe and effective method of urine drainage and help prevent infection by keeping the bladder empty. They are also used in intensive care units and hospitals for patients who cannot empty their bladder voluntarily due to illness or injury. The growing prevalence of urinary incontinence and increase in surgical procedures is a major driver boosting demand for Foley catheters.
The global Foley Catheters Market is estimated to be valued at US$ 1.64 billion in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the Foley catheters market is the rising demand for antimicrobial coatings. Catheter-associated urinary tract infections (CAUTIs) are common complications associated with use of urinary catheters. CAUTIs contribute significantly to healthcare costs and extend hospital stays. To reduce the risk of infection, manufacturers are focusing on developing catheters coated with antimicrobial agents such as silver, minocycline and rifampin. For instance, Ex fields its SpeediCath Silicone Foley Catheter coated with HydroPlus to minimize urethral irritations and the risk of infections. Similarly, Medline Industries offers silicone foley catheters coated with chlorhexidine and silver sulfadiazine under its CleanCare brand. The antimicrobial coatings prevent bacterial adhesion and eventual colonization on catheter surfaces. This significantly reduces the risk of CAUTIs and boosts the demand for advanced anti-infective catheters.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low in the Foley Catheters market due to high costs involved in setting up manufacturing facilities for medical devices. Bargaining power of buyers: The bargaining power of buyers is high due to the presence of many small and large medical product manufacturers providing substitutes. Bargaining power of suppliers: The bargaining power of suppliers is moderate due to availability of substitute raw materials. Threat of new substitutes: The threat of new substitutes is moderate as alternative urinary drainage methods can be used. Competitive rivalry: The competitive rivalry is high due to presence of many key players.
Key Takeaways
The global Foley Catheters market is expected to witness high growth. Regional analysis related content comprises North America dominates the global Foley Catheters market owing to increasing geriatric population and rising number of urological surgeries in the region. The market in Asia Pacific is expected to witness fastest growth over the forecast period owing to growth in healthcare infrastructure and rising healthcare expenditure.
Key players related content comprises 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. C.R. Bard dominates the market owing to wide product portfolio and strong distribution network across geographies.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
