Foley Catheters Market: Current Analysis and Forecast (2022-2028)

Report Description

The global foley catheters market is expected to grow at a significant rate of around 6% during the forecast period 2022-2028. The most common kind of urinary catheter is a thin, sterile, flexible tube called a Foley catheter. Latex or silicone is used in their production. Foley catheters are utilized for different ongoing and intense circumstances including urinary incontinence, and furthermore to deplete pee in patients that are fixed or have decreased ambulation. Depending on the patient’s condition and needs, these devices are used for short or long periods of time. There are various kinds of a foley catheters, including two-way and three-way catheters. In most acute care facilities, these catheters are only used for a short time to control and monitor urine drainage during surgery and recovery.

Furthermore, an infection in any part of the urinary system the urethra, bladder, ureters, and kidney are referred to as a urinary tract infection (UTI). UTIs, which necessitate the use of foley catheters, are the most prevalent urological diseases, as stated by the National Healthcare Safety Network (NHSN).

Becton, Dickinson, and Company, Cardinal Health, B. Braun Melsungen AG, Coloplast Corp., Teleflex Incorporated, Bactiguard, Cook Medical, Medline Industries, SunMed, and Wellspect HealthCare AB. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst type, 2-way foley catheters category to witness robust CAGR during the forecast period”

Based on type, the market is segmented into 2-way foley catheters, 3-way foley catheters, and 4-way foley catheters. The 2-way foley catheters category is to witness higher CAGR during the forecast period. This is mainly due to these catheters being long-lasting, flexible indwelling catheters that have an inflatable balloon at one end to keep the catheter in place and assist in draining urine from one lumen.

For instance, according to the American Academy of Family Physicians (AAFP), the annual prevalence of urinary retention ranges from 4.5 to 6.8 per 1,000 men. If the bladder is simply drained, 70 percent of men will likely experience recurrent urinary retention within a week despite the use of foley catheters.

“Amongst end-user, the hospitals to hold a significant share in the market in 2020”

On the basis of end-user type, the market is categorized into hospitals, ambulatory surgery centers, long-term care centers, and others. Among these, the hospitals to hold a significant share of the market in 2020. This is mainly due to a rise in the number of surgeries performed on the elderly and an increase in the geriatric population, both of which increase the need for in-hospital catheters. For instance, the urinary catheter, which is a tube that is inserted into the bladder through the urethra to drain urine, is linked to approximately 75% of UTIs that occur in hospitals, according to the Centers for Disease Control and Prevention.

“North America to hold a significant share in the market”

For a better understanding of the market adoption of the foley catheters industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing public awareness of urinary tract infections, the availability of reputable medical facilities, and highly trained doctors in the region. The rising incidence of conditions like bladder cancer, UI, BPH, and bladder obstruction is another factor propelling the regional market. For instance, according to the Canadian Cancer Society, approximately 12,200 people will be diagnosed with bladder cancer in 2020, and 2,600 will die from the disease.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global foley catheters market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Foley Catheters Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Foley catheters market were the three major steps undertaken to create and analyze the adoption of foley catheters market in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Foley Catheters Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the foley catheters market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the foley catheters market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, material, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Foley Catheters Market. Further, we conducted factor analysis using dependent and independent variables such as various type, material, and end-user of foley catheters market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the foley catheters market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global foley catheters market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the foley catheters market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global foley catheters market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global foley catheters market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, material, and end-user in the global foley catheters market.

The main objective of the Global Foley Catheters Market Study

The current & future market trends of the global foley catheters market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the foley catheters market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of type, material, and end-user.
• Define and analysis of the regulatory framework for the foley catheters industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the foley catheters market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the Foley Catheters Market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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