Healthcare & Pharmaceutical

Latex Foley Catheters Market Segmentation by Type (2-way, 3-way, and 4-way Foley Catheters); by Application (Urinary Incontinence, Benign Prostatic Hyperplasia, Prostate Gland Surgery, and Others); by End User (Critical Care Units, Hospitals, Nursing Homes, Homecare, and Others); and by Patient Type (Geriatric, Adults, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • February, 2021: Koninklijke Philips N.V. announced the acquisition of BioTelemetry, Inc., a leading provider of remote diagnostics and monitoring systems, to widen the scope for early diagnosis.

  • June, 2020: GlaxoSmithKline plc and Vir Biotechnology, Inc. to conduct the Phase 3 trial of sotrovimab antimicrobial drug.


Global Latex Foley Catheters Market Highlights over 2022 – 2031

The global latex Foley catheters market is estimated to grow at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031.

Foley catheters are used to facilitate the passage of urine from the bladder through a narrow tube. This is generally required for patients who underwent any invasive surgery of the urinary system, including kidney, bladder, or even prostate. Extreme old age can also be one of the factors for patients to need latex Foley catheters. The growth of the market can be attributed to the increasing prevalence of kidney related disorders, along with the growing geriatric population worldwide. As per the data by the World Bank, the population of individuals above 64 years of age touched 723,184,486 in 2020. Moreover, latex Foley catheters minimize the friction, irritation, and the chances for any infection in the body. As a result, latex Foley catheters are ideal for longer insertion, which is further estimated to boost the market growth. Additionally, increasing number of surgeries, backed by the growing healthcare awareness amongst people, is projected to boost the market growth.

Latex Foley Catheters Market

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The market is segmented by patient type into geriatric, adults, and others, out of which, the geriatric segment is anticipated to hold a substantial share in the global latex Foley catheters market over the forecast period on account of increasing need for assisted urine passage for the older individuals. Moreover, geriatric population is rising at a constant rate globally, which is further estimated to boost the market growth. 


Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure per Capita, (USD), 2015-2018

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.


Global Latex Foley Catheters Market Regional Synopsis

On the basis of geographical analysis, the global latex Foley catheters market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of high geriatric population, growing disposable income, and increasing availability of advanced healthcare in the region.

The market in the North America region is anticipated to gain the largest market share throughout the forecast period on the back of the increasing prevalence of kidney diseases in the region. According to the data by the U.S. National Kidney Foundation, kidney diseases affect an estimated 37 million people in the U.S. every year, which is 15% of the total adult population.

Latex Foley Catheters Market Share

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The global latex Foley catheters market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook


Latex Foley Catheters Market
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Market Segmentation

Our in-depth analysis of the global latex Foley catheters market includes the following segments:

By Type

  • 2-way Foley Catheters
  • 3-way Foley Catheters
  • 4-way Foley Catheters

By Application

  • Urinary Incontinence
  • Benign Prostatic Hyperplasia
  • Prostate Gland Surgery
  • Others

By End-User

  • Critical Care Units
  • Hospitals
  • Nursing Homes
  • Homecare
  • Others

By Patient Type

  • Geriatric
  • Adults
  • Others

Growth Drivers

  • Increasing Global Geriatric Population
  • Rising Prevalence of Kidney Diseases

Challenges

  • Higher Cost of Latex Foley Catheters


Healthcare Expenditure per Capita, (USD), 2015-2018
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Top Featured Companies Dominating the Market

    • C. R. Bard, Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Medtronic plc
    • ConvaTec Group plc
    • Teleflex Incorporated
    • Medline Industries, LP
    • B. Braun Melsungen AG
    • Create Medic Co. Ltd.
    • Fuji Systems Corporation
    • Cook Group Incorporated

Key Questions Answered in the Report

1) What are the major factors driving the growth of the latex foley catheters market?

Ans: The increasing prevalence of kidney disorders is estimated to boost the market growth.

2) What would be the CAGR of latex foley catheters market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2022 – 2031.

3) What are the challenges affecting the latex foley catheters market growth?

Ans: Higher cost of these catheters is estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of latex foley catheters market in future?

Ans: The North America region is anticipated to provide more business opportunities over the forecast period owing to the high prevalence of kidney diseases.

5) Who are the major players dominating the latex foley catheters market?

Ans: The major players in the market are Teleflex Incorporated, Medtronic plc, ConvaTec Group plc, Teleflex Incorporated, Medline Industries, LP, B. Braun Melsungen AG, Create Medic Co. Ltd., Fuji Systems Corporation, and Cook Group Incorporated.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the latex Foley catheters market?

Ans: The market is segmented by type, application, end-user, patient age, and by region.

8) Which segment captures the largest market size in patient type segment in the latex Foley catheters market?

Ans: The geriatric segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.

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