Foley catheters are sterile, flexible, thin tubes that are most commonly used as a type of urinary catheter. There are manufactured by using latex or silicone. Uses of Foley catheters are seen in different acute and chronic conditions as well as urinary incontinence and also in patients to drain urine with reduced ambulation or are immobile. These devices are preferred for a shorter period including longer time based on the requirement and condition of the patient.
Foley catheters are available in different types as well as two-way or three-way catheters. They are used in acute care facilities temporarily to manage and monitor urine drainage during post-operative recovery and surgery. Foleys are inserted into the bladder via the urethra and have a tiny balloon at the end which is inflated with water to restrict the tube from slipping out of the body.
COVID-19 SCENARIO ANALYSIS
- The outbreak of COVID-19 is likely to have a moderate impact on the market in the forecast period. Research and development activities to identify the threat of SARS-CoV-2 virus on the patients suffering are likely to slow the market growth.
- COVID-19 has brought about a significant burden on the healthcare industry globally, with disruption in the treatment of non-communicable diseases. Challenges exist in providing effective care.
- Realizing the disturbing healthcare trends, governments globally are making efforts to provide excellent quality healthcare to patients globally. Nationwide lockdowns, canceled or postponed elective surgeries, denied wound care services, rise in skin injuries in COVID-19, the market is expected to show a decline during the forecast timeline. However, on the flip side, the latter half of the forecast is predicted to show a drastic rise.
TOP IMPACTING FACTORS: MARKET SCENARIO ANALYSIS, TRENDS, DRIVERS AND IMPACT ANALYSIS
The adoption of the Foley catheter globally is been driven by various factors like the rising number of surgeries and increasing prevalence of diseases such as BPPH, urethra blockage, kidney stones, urinary incontinence. For example, as per the data published by the NCBI, the incidence of BPH varies in the range of 20% - 62% in men who age above 52 years, in countries like Japan, U.S., U.K. and Ghana. Additionally, recent advancements in Foley catheters are seen to provide more convenience and comfort to the patients which are witnessed to propel the growth of the market of Foley catheters in the forecast timeline.
Globally, the rising number of surgical procedures, as well as longer hospitals stays, are the factors that drive the adoption and demand for Foley catheters globally in acute care facilities. For example, as per the data published by NCBI in 2017, estimated that 12.0% to 16.0% of adult individuals in the acute hospital setting use Foley catheters in the U.S. Such trends are anticipated to drive the growth of the market of indwelling catheters during the forecast timeframe.
Additionally, increasing incidences of urinary incontinence and BPH worldwide is predicted to boost the demand for indwelling catheters in the. For example, as per the NHS, the prevalence of BPH in the United Kingdom is been states to rise from 50% among men between age 50 and 60 years, to 90% for men age 80 years and above. Additionally, as per the U.S Department of Health and Services, nearly 13 million people in U.S. suffered in 2015 from urinary continence. Thus, the rising incidence of urinary incontinence among the population globally is one of the core factors witnessed to fuel the adoption rate of Foley catheters for long-term catheterization in healthcare settings worldwide. However, the high cost of Foley catheters and lack of reimbursement policies in emerging countries is anticipated to hamper the adoption of indwelling catheters in these regions. Also, prolonged use of Foley catheters can lead to urinary tract infections (UTI), discomfort, bladder spasms to the patient which is thus restraining the growth of the Foley catheters market during the forecast period.
However, the lack of reimbursement policies in developing countries and the high cost of Foley catheters is predicted to hamper the adoption rate of indwelling catheters. Also, long use of Foley catheters is found to cause urinary tract infections (UTI), bladder spasms, discomfort to the patient which is predicted to retrain the market growth of Foley catheters in the forecast period.
North America has been dominated by the Foley catheter market globally because of the rise in investments from the public as well as private players and the contribution of core market leaders for enhanced Foley catheter market uses. It accounted for a prominent share in the Foley catheter market globally in terms of revenue, due to an increase in R&D activities in the region, increasing rate of adoption of the Foley catheter market and its applications in the treatment of various healthcare uses, and government support.
Asia-Pacific followed by Europe is witnessed lucrative growth and holding a notable share in the market owing to the rapid increase in the adoption of technology for different healthcare uses and increased R&D activities.
KEY BENEFITS OF THE REPORT
- This study presents the analytical depiction of the global Foley catheter market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global Foley catheter market share.
- The current market is quantitatively analyzed to highlight the global Foley catheter market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global Foley catheter market analysis based on competitive intensity and how the competition will take shape in the coming years.
QUESTIONS ANSWERED IN THE FOLEY CATHETER MARKET RESEARCH REPORT
- What are the leading market players active in the Foley catheter market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Foley Catheter Market Report Highlights
By End User
Key Market Players
Boston Scientific Corporation (U.S.), Degania Silicone Ltd. (Israel), Ribbel International Limited (India)., B. Braun Melsungen AG (Germany), ROCAMED (Monaco), ConvaTec Inc. (UK), Medical Technologies of Georgia (US), Coloplast Ltd. (Denmark), Teleflex Incorporated (U.S.), Dickinson and Company (U.S.), CompactCath (U.S.), Cardinal Health (U.S.), Cook Medical (U.S.), Amsino International, Inc. (U.S.), Bactiguard (Sweden), Urocare Products, Inc. (U.S.), Becton, MANFRED SAUER GMBH (Germany), J and M Urinary Catheters LLC. (U.S.), Asid Bonz GmbH (Germany), Wellspect HealthCare (U.S.), Cure Medical, LLC, Go Medical Industries Pty Ltd. (Australia), Well Lead Medical Co., Ltd. (China), Hunter Urology (England)