The global Foley Catheters Market to Show Substantial Growth Accelerated by Increasing Prevalence of Urinary Incontinence

 Foley catheters are medical tubes that are inserted through the urethra into the bladder to drain urine. They are used to drain and collect urine from bladder during surgery or when patient is unable to pass urine due to injury or illness. The increasing prevalence of urinary incontinence among geriatric population and rising number of surgeries are propelling the growth of foley catheters market.

The global Foley Catheters Market is estimated to be valued at US$ 1.64 billion in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing prevalence of urinary incontinence is the major trend fueling the growth of foley catheters market. Urinary incontinence refers to the involuntary leakage of urine and is more prevalent among elderly population. According to WHO, nearly 30-60% of elderly people above 65 years have reported urinary incontinence issues globally. Moreover, aging population is another factor contributing to the rising incidence of urinary incontinence worldwide. As per the UN report, the global population aged 60 years and above is projected to double by 2050 and reach nearly 2.1 billion. Increase in life expectancy will further augment the demand for foley catheters during the forecast period.
Segment Analysis
The global foley catheters market is dominated by two-way catheter segment. These catheters have two separate channels for drainage of urine and inflation of the balloon. They are safer and more effective than single-way catheters as the paths for drainage and inflation are separated, thus reducing the chances of infection. The two-way catheters also allow for easier insertion and deflation.

Key Takeaways
The global foley catheters market is expected to witness high growth over the forecast period. The market size for foley catheters is projected to reach USD 2.19 billion by 2030, growing at a CAGR of 5.7% from 2023 to 2030.

Regional analysis
North America is currently the dominant region in the global foley catheters market and is expected to maintain its position over the forecast years. This can be attributed to the well-established healthcare system and rising prevalence of urinary incontinence in the region. However, Asia Pacific is expected to exhibit the fastest growth owing to growing medical tourism, rapidly improving healthcare infrastructure and increasing spending on healthcare.

Key players
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. C.R. Bard accounts for a major share of the market owing to its wide product portfolio and global sales network. Teleflex Incorporated also enjoys a significant market share due to its strong sales and marketing strategies.

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