Foley Catheter Market is expected to surge past valuation of US$ 2.2 Billion by the end of 2030.

Likewise, the growing burden of urinary retention, a chronic condition in which individuals cannot voluntarily urinate, is propelling demand for foley catheters to facilitate easy drainage of urine. As per the estimates of the American Academy of Family Physicians (AAFP), approximately 4.5 to 6.8 per 1,000 men in the US suffer from urinary retention. As the incidence of disorders continues to grow across the world, the demand for foley catheters is poised to remain high for the years to come.

Along similar lines, the high prevalence of urinary incontinence, a condition that causes the urine to leak involuntarily, is projected to bestow remunerative opportunities to players in the foley catheters market. The severity of urinary incontinence rises with age, with men above 70 being the most affected. The expanding base of the geriatric population will continue to necessitate the usage of foley catheters.

Having analyzed and scrutinized all the aforementioned facets in its new market study, Future Market Insights (FMI) projects that the global foley catheters market will grow in value at a CAGR of nearly 5% between 2020 and 2030. Some of the key takeaways from the report include:

• The global foley catheters market is expected to surge past valuation of US$ 2.2 Bn by the end of 2030.
• By product type, 2-way foley catheters are poised to remain the most sought-out variants, owing to their wide availability and simple installation, and will hold more than half of the overall market value.
• Among materials, latex-based foley catheters are expected to gain an edge over their counterpart, silicon-based foley catheters, backed by their ability to reduce urethral irritation.
• Based on indication, urinary incontinence is expected to remain the largest segment, on the back of high incidence among geriatric population.
• North America will remain at the forefront of the regional landscape ascribed to high expenditure on medical aids coupled with new product approvals.
• Asia Pacific and Europe will continue to bestow remunerative opportunities to market players.

To remain ahead of your competitors, request for a sample – https://www.futuremarketinsights.com/reports/sample/rep-gb-7769

“With catheter-acquired infections being a major challenge to the adoption of foley catheters, manufacturers are focusing on developing products with materials and coatings that aid in reducing accumulation of bacteria, thus restraining the possibility of catheter-acquired infections among patients” remarks FMI analyst.

COVID-19 Impact on Foley Catheters MarketCOVID-19 is expected to create slight fluctuations in the growth trajectory of the foley catheters market. There has been a notable shift in priorities of healthcare institutions, with treatment for COVID-19 patients being the utmost priority across the world. Hospitals in severely affected nations such as the US and India have deprioritized non-essential hospitalizations, leading to a downfall in the demand for foley catheters. With urology not being the most concerning healthcare issue currently, the sales of numerous urology care devices, including foley catheters are likely to witness a decline across hospitals. However, the demand for foley catheters in long-term care facilities is poised to remain unhinged through the pandemic, and will continue to drive the sales of these devices.

Who is Winning?Major players in the market are focusing on developing advanced catheters that reduce the likelihood of the patient developing catheter-associated infections. To achieve the same, they are using novel materials and coatings, and are seeking approvals to commercialize their devices. On these lines,

• C.R Bard is using silver-ion and antimicrobial coatings in the production of foley catheters to eliminate the risk of catheter-associated infections when used for long periods.
• B. Braun Melsungen AG continues to develop its catheter product line named Actreen® catheters, designed specifically for urinary retention, and are coated with lubricants to make it comfortable and hygienic to use.
• In 2019, Safe Medical Design Inc., procured FDA approval to commercialize its new catheter designed to reduce to urethral trauma.

FMI’s report includes profiles of some of the most prominent names in the market including Teleflex Incorporated, Cardinal Health, C.R Bard, B. Braun Melsungen AG, Coloplast A/S, Medtronic plc, Flume, ConvaTec Group, VOTG Medical, Sterimed Group, Ribbel International Limited, Angiplast Private Limited, Mais India Medical Devices Private Limited, and JK Medirise.

Get a Tailored Made Report to Match Your requirements, Ask from Market Research Expert – https://www.futuremarketinsights.com/ask-question/rep-gb-7769

Key SegmentsType:

• 2 Way
• 3 Way
• 4 Way

Material:

Latex Foley Catheter

• Hydrogel-Coated Latex Foley Catheters
• Silicon-Coated Latex Foley Catheter
• Silver-Coated Latex Foley Catheters
• “PTFE (polytetrafluoroethylene) (teflon)
• Coated Latex Foley Catheters

Silicon Foley Catheter

• Hydrogel-Coated Silicone Foley Catheters
• Pure Silicone Foley Catheters
• Silver Coated Silicon Foley Catheters
• Others

Indication:

•  Urinary Incontinence
•  Urethral Stricture
•  Chronic Obstruction
•  Neurogenic Bladder
•  Enlarged Prostate Gland/BPH
•  Prostate Cancer
•  Others

End-user:

• Hospitals
• Long Term Care Facilities
• Others

Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa

For in-depth competitive analysis, Buy Now – https://www.futuremarketinsights.com/checkout/7769