Latex Foley Catheters Market size is anticipated to witness more than 6.1% CAGR during the forecast period i.e., between 2024-2036.
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.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
6.1% |
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Regional Scope |
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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.
Our in-depth analysis of the global market includes the following segments
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By Type |
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By Application |
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By End-User
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By Patient Type
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On the basis of geographical analysis, the global latex Foley catheters industry is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific industry is anticipated to dominate majority revenue share by 2036, impelled by high geriatric population, growing disposable income, and increasing availability of advanced healthcare in the region.
North America Market Analysis
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.
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.
Author Credits: Radhika Pawar
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