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Market Overview
- The Global Foley Catheter Market is expected to grow at a high CAGR of 6.3% during the forecasting period (2020-2027).
- An indwelling (Foley) catheters are a closed sterile system with a retention balloon and a catheter that is inserted either through the urethra or suprapubically to allow for bladder drainage. Foley catheters are one of the most common urinary catheters used for draining urine from the bladder. These are thin, sterile flexible tubes used for various chronic and acute conditions including urinary incontinence, Benign Prostatic Hyperplasia (BPH), among others. These catheters are recommended only for short-term use, as less than 30 days.
- The global foley catheters market size was worth $ XX billion in 2018 and is estimated to reach US$ XX billion by 2027, growing at a CAGR of XX % during the forecast period (2020-2027). The market is expected to be impacted by the COVID-19 pandemic, which leads to negative growth from 2019 to 2020.
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Market Dynamics
- The global foley catheters market is growing owing to the rising prevalence of urological diseases, such as urinary retention, benign prostate hyperplasia (BPH), urinary incontinence, and prostate cancer.
- Urinary retention is a major chronic condition in which the patient is unable to urinate voluntarily, which leads to an increase in the volume of residual urine in the bladder. As per the American Academy of Family Physicians (AAFP), the incidence of urinary retention is 4.5 to 6.8 per 1,000 men, every year, in the USA, more than 250,000 surgical procedures for benign prostate hyperplasia (BPH) are performed in the U.S. every year, leading to 2 million office visits.
- The National Association for Continence states that urinary incontinence affects approximately 200 million people worldwide. It also states that one-third of the men and women between the age of 30 and 70 years face the loss of bladder control at some point in their adult life.
- According to the Urology Care Foundation, about 50% of the men between the ages of 51 and 60 years have BPH, and about 90% of the aged 80 years have BPH. Acute urinary retention is a major complication associated with BPH and requires indwelling catheterization of the bladder. This is likely to increase the demand for indwelling catheters in the forecast period.
- An increase in the elderly patient population globally is anticipated to drive the global foley catheters market over the forecast period. for instance, according to the United Nations Report 2017, the geriatric population aged 60 years and above is expected to double by 2050. The number is projected to reach 2.1 billion, as against 962 million in 2017. This rising geriatric population leads to more demand for foley catheters. For instance, in 2017, an estimated 12.0% to 16.0% of adult patients in the acute care hospital settings in the U.S.A was using Foley catheters. Such trends are expected to drive the market growth of indwelling (Foley) catheters.
Segment Analysis
- Based on material, the foley catheters market is segmented into latex, silicon, and others. Among these, the latex-based catheters are estimated to account for a significant share of the foley catheters. These catheters are coated with hydrogel silicone, silicone elastomer, and PTFE Teflon material, which reduces the urethral irritation, lower surface friction, and improve patient comfort. On the other hand, the silicone-based foley catheters are estimated to grow significantly over the forecast period, owing to their longer lifespans and reduced the risk of urinary tract infections. These catheters also have a smooth surface which reduces the risk of encrustations, as compared to latex catheters.
- Based on applications, the foley catheters market is segmented into urinary incontinence, Benign Prostatic Hyperplasia (BPH), surgery, and others. Benign prostate hyperplasia (BPH) segment is estimated to account for a share of approximately XX% of the global urinary catheters market by 2018 and is anticipated to grow to XX% by 2027.
- Benign prostatic hyperplasia (BPH)) is a prevalent condition in older adults and is a major cause of bladder outflow obstruction. An enlarged prostate gland can cause uncomfortable urinary symptoms, such as blocking the flow of urine out of the bladder. It can also cause bladder, urinary tract, or kidney problems. According to the National Institute of Health, it has been estimated that about 14 million men in the U.S. show symptoms suggestive of BPH, which can affect 50% of men aged between 51 and 60 years of age and up to 90% of men aged more than 80 years. With 50% of men getting affected with BPH, there is a sequential growth in the BPH market. Several studies from the last decade have reported a significant percentage of men in the USA, aged between 45 and 80 years suffer from some type of lower urinary tract symptoms and most of them have BPH symptoms. Besides that, several hospitals in the USA and Canada have collaborated with non-profit organizations and companies in some of the projects to spread awareness and adequate resources for the treatment of urological disorders.
Geographical Analysis
- North America is dominating the global foley catheters market accounting for the largest market share in 2019, owing to the rising prevalence of urological diseases such as Benign Prostate Hyperplasia (BPH) and the consequent rise in surgical procedures. In the USA the dominance is driven by the proliferation of various diseases in which catheterization is needed. According to the United States Census Bureau (2017), 47.8 million are diagnosed with these disorders. It is expected that the number would rise to 98.2 million by 2060. The older population has an increased susceptibility to spinal cord injury (SCI), urinary incontinence, and benign prostate hyperplasia. According to the National Association for Incontinence (NAFC), in North America, nearly 200 million people are affected by urinary incontinence. According to the WomensHealth.gov, urinary incontinence is twice as common in women as in men, where stress urinary incontinence is most common among women who are pregnant, giving birth, going through menopause. These are the primary reasons for the rise in the urinary catheters market in the region.
- Latex 2-way catheters are estimated to account for more than half of the total foley catheters market in North America. The market is also growing is due to the well- established healthcare infrastructure and rapid adoption of urinary catheters in the healthcare ecosystem.
- On the other hand, the Asia-Pacific foley catheters market is expected to grow at the fastest growth rate over the forecast period. The growing geriatric population and the emergence of significant market players are boosting the market share of foley catheters in Asia-Pacific. For instance, in 2017, Bactiguard forged a partnership with Neon Laboratories Limited to introduce its infection control BIP Foley catheter in India and to consolidate its position in the country.
Competitive Landscape
- The global Foley Catheters market is fragmented, with several companies offering catheter products to various end-users. Some of the major players are Becton, Dickinson & Company, Cardinal Health, Inc., Coloplast Corp, Bactiguard, Cook. Medical, among others. Companies are focusing on research and development activities to expand their portfolio by manufacturing innovative products.
- The key players are adopting various growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Foley Catheters market globally. For instance,
- On April 3rd, 2020, Bactiguard, a Swedish medical device company, has announced that for patients in intensive care, surgery, and other conditions where continuous temperature monitoring is important. Accordingly, the company launched a new urinary catheter - BIP Foley TempSensor.
- On October 16th, 2019, CATHETRIX, an innovative developer of urinary (Foley) smart catheter fixations, launched the world's first Foley catheter stabilizer which actively prevents possible damage to the bladder and urethra from accidental urinary catheter extraction.
- In August 2018, Bactiguard launched two line extensions to its BIP Foley Catheter; females adapted to the female anatomy and Tiemann, which facilitates catheterization of men. BIP Foley Catheter reduces the risk of catheter-associated urinary tract infections, which are common when using indwelling catheters.
- In December 2017, BD acquired C. R. Bard, Inc. intending to include Bard's diverse product portfolio and to reinforce its market position.
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