Foley catheters are thin, flexible tubes inserted through the urethra and into the bladder to drain urine from the bladder. Foley catheters help drain urine from the bladder for patients who cannot urinate naturally due to various medical conditions. They are majorly used after surgeries of prostate, gynecology and urology to monitor urine output. The global Foley catheters market is primarily driven by rising prevalence of urinary incontinence mainly caused by neurological diseases and pelvic floor dysfunctions. Urinary incontinence affects millions of people globally, thereby increasing demand for short- and long-term catheterization procedures using Foley catheters.
The Global Foley Catheters Market is estimated to be valued at US$ 1.64 billion in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030.
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. Teleflex Incorporated held the largest market share in 2020 owing to its diverse product portfolio and strong distribution network globally. The growing geriatric population susceptible to urinary disorders is a major demand driver for Foley catheters. As per United Nations data, over 16% of the global population is expected to be aged 65 years and above by 2050. With age comes higher risks of urological conditions requiring catheterization. Technological advancements are further expanding the applications of Foley catheters. New product variants with anti-biofilm coatings, advanced materials and refined designs are enhancing patient comfort and clinical outcomes.
Single-use Foley catheters are gaining preference over multi-use models to prevent infections. The trend is driven by the preference of healthcare facilities to reduce operational costs by eliminating reprocessing requirements of multi-use catheters. Another key trend is the emergence of magnet-tipped Foley catheters facilitating catheter removal without the need for manual traction or anesthesia. The magnet-enabled technology promises to enhance patient comfort during catheter insertion and withdrawal procedures.
The untapped potential of emerging economies in Asia Pacific and Latin America presents lucrative opportunities for Foley catheter manufacturers. Furthermore, the rising demand for extended short-term catheterization during complex surgeries expands opportunities. Product innovations addressing unmet needs like catheters optimized for self-catheterization also present opportunities.
The Impact of COVID-19 on Foley Catheters Market Growth
The COVID-19 pandemic has severely impacted the growth of the Foley catheters market. During the initial outbreak, there was a significant rise in demand for Foley catheters as hospital admissions for COVID infections surged globally. However, with the lockdown restrictions imposed worldwide, the supply chain was disrupted which led to shortages and delays in product shipments. This negatively impacted market growth during 2020. As healthcare resources were diverted towards treating COVID patients, several elective surgeries and non-essential medical procedures that require Foley catheter usage were postponed. This caused a decline in demand. However, post-lockdowns from 2021, the market has started regaining momentum as normalcy returned to healthcare systems and the backlog of postponed surgeries is being addressed. While supply chain challenges persist, the demand is rising steadily and is expected to surpass pre-pandemic levels by 2024. Moving forward, the market will witness strong growth opportunities by addressing the growing geriatric population suffering from UTIs and other catheter-requiring conditions. Ensuring consistent supply through diversified manufacturing networks will also be a key focus for key players.
Currently, in terms of value, North America accounts for the largest share in the Foley catheters market owing to the high prevalence of target diseases, rising elderly population, and advanced healthcare infrastructure. Within the region, the United States holds the major market share and is expected to continue dominating over the forecast period. This is attributed to factors such as the high spending on healthcare, growing obese population suffering from urinary incontinence, and presence of leading market players.
Asia Pacific is poised to be the fastest growing regional market for Foley catheters between 2023-2030. This can be attributed to improving access to healthcare, increasing healthcare expenditures, rising medical tourism, and growing elderly demographics in highly populated countries like China and India. Additionally, expanding availability of affordable generic catheters is also supporting the market growth in the region.