Foley catheter technological improvements, including the use of novel coatings and engineering methodologies, as well as advantages such easy accessibility and cost, are significant growth drivers for the market. Foley catheters have a new coating that could help avoid CAUTI (catheter-associated urinary tract infections). Additionally, during the projected period, the occurrence of kidney and other renal illnesses is anticipated to rise, propelling the market for Foley catheters. For instance, the National Kidney Foundation of the US estimates that in 2015, chronic kidney disease afflicted 10% of the global population. Due to the rising prevalence of urological illnesses in the US, North America is anticipated to have a dominating position in the global market for Foley catheters throughout the forecast period. For instance, a quarter to a third of men and women in the U.S. experience urine incontinence, according to the Urology Care Foundation in 2015.
According to Coherent Market Insights, The market for Foley Catheters was estimated to be worth USD 1.64 billion in 2022, and from 2023 to 2030, it is anticipated to increase at a CAGR of 5.81%.
Prominent Players in the Foley Catheters Industry:
1. Medtronic, Inc.
The company is headquartered in Dublin, Ireland, and was established in 1949. Medical diagnostic and therapeutic products are produced by Medtronic, PLC. In April 2022, the company declared that it would collaborate with GE Healthcare to solve the care needs at ambulatory surgery facilities. The purchase of Affera, Inc. was announced by the business in January 2022. In January 2020, the company declared its intention to acquire Stimgenics, LLC and their primary therapy.
2. B. Braun Melsungen AG
The company is headquartered in Melsungen, Germany, and was established in 1839. In addition to other healthcare goods and services, the company offers extracorporeal blood therapies, anaesthesia, emergency care, and surgical core procedures. Intermedt Medizin & Technik GmbH, a pioneer in the development of dialysis concentrates, was acquired by B. Braun in March 2022. With the groundbreaking of a new factory in January 2022, B. Braun expanded its footprint in Vietnam.
3. Teleflex Incorporated
The company is based in Wayne, Pennsylvania, and was founded in 1943. The company designs, manufactures, and distributes single-use medical devices for use in critical care and surgical applications by hospitals and other healthcare facilities. The innovative Titan SGS® Stapler with GORE® SEAMGUARD® Bioabsorbable Staple Line Reinforcement Material will be used by Teleflex starting in March 2023. In order to promote the UroLift® System as a therapy for enlarged prostates, Teleflex launched a national advertising campaign in February 2023 named "Pit Stop."
4. C.R. Bard, Inc.
The company is situated in Murray Hill, New Jersey, USA, and was founded in 1907. The company develops, produces, and sells medical technologies for the fields of urology, cancer, vascular medicine, and surgical specialty. The global markets that C. R. Bard's goods and services catered to included hospitals, private healthcare providers, long-term care homes, and alternative site facilities.
5. Cook Medical Group, Inc
The company was founded in 1963, and Bloomington, Indiana, in the United States, serves as its corporate headquarters. Cook Medical Inc. is in charge of arranging for the distribution and acquisition of medical equipment produced by its parent company. Medical experts from all over the world can use the company's services.
6. Medline Industries, Inc.
The business was founded in 1966 and has its headquarters in Illinois, United States. Health care supplies are produced and distributed by Medline Industries Inc. In Hammond, Louisiana, Medline erected a cutting-edge distribution facility that was LEED certified in March 2023. To address the scarcity of healthcare workers, Medline enhanced its digital portfolio with ShiftKey in February 2023.
7. Create Medic Co. Ltd.
The business was started in 1974 and is based in Japan. The company creates rubberized silicon catheters and tubing, among other disposable medical products. The Company produces silicon and plastic materials through its affiliated businesses, which are used to make catheters and tubes. Additionally, Create Medic sells medical supplies.
More Insights:
Catheter Stabilization Devices
*Definition: The most often used equipment for treating urine incontinence is the Foley catheter. Although device makers have made a number of modifications to Foley catheters over the years to reduce the risk of injury and infection, the design of these catheters has not fundamentally changed.
