Michael Barbella, Managing Editor09.09.22
Steady growth is predicted for the worldwide latex foley catheters market this decade.
Research Nester predicts the sector to expand roughly 6% annually through 2031, driven by rising kidney disease caseloads, the prevalence of other conditions (diabetes, hypertension, etc.), treatment advancements, and an aging world population. A better awareness among people regarding prostate surgery and usage of catheters after prostate surgery also will drive the market's growth.
Chronic kidney disease (CKD) affects 10% of the population, and in the absence of accessible, inexpensive care, millions of people worldwide perish each year. Although more than 2 million people required dialysis or a kidney transplant to stay alive, this figure only represents 10% of those who require treatment to survive. The demand for treatment for kidney failure is rapidly increasing globally.
More than 404.6 million people worldwide had urinary tract infections (UTIs) in 2019, and about 236,786 of these cases were fatal. The age-standardized incidence rate for UTIs increased from 4,715 per 1 million people in 1990 to 5,229.3 per 1 million people in 2019. The transport of urine from the bladder is made easier by the use of foley catheters. Patients who undergo invasive urinary system surgery (mainly the kidney and bladder) are typically advised to use these devices. More than 80% of kidney failure patients receive treatment in wealthy nations with widespread access to healthcare and sizable senior populations. In the U.K., 52,224 new cases of prostate cancer were reported between 2016 and 2018 and surgery to remove the lump has been the primary cancer treatment for 15% of men who have been diagnosed with prostate cancer, industry data indicate.
With the need for more advanced treatments and medical equipment to combat chronic diseases, the majority of global regions are predicted to significantly invest in research and development activities, which will contribute to the market's expansion. Global R&D spending has more than tripled in real terms since 2000, rising from $677 billion that year to $2.2 trillion in 2019. Rising healthcare expenditures worldwide are forecast to boost growth over the forecast period. World Health Organization statistics show that global health spending has increased since the turn of the millennium—doubling in real terms—reaching $8.5 trillion in 2019 and 9.8% of gross domestic product (up from 8.5% in 2000).
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 Asia Pacific sector is expected to hold a noteworthy market share due to an aging population that is more prone to chronic diseases (mainly kidney diseases and diabetes). By 2050, an estimated one in four people in the Asia Pacific region will be older than 60, and between 2000 and 2035, type 2 diabetes is predicted to climb by more than 150% in South Asia, with aging and accompanying lifestyle changes as the main causes of the rapid increase. In addition to this, the doubling disposable income and increasing cost of treating these chronic diseases in the region are estimated to drive the market's growth.
The North American market is likely to hold the largest market share through 2031 owing to the rising prevalence of kidney diseases. About 37 million U.S. adults are thought to have CKD, though most of which go untreated, according to the Centers for Disease Control and Prevention. About 360 people start receiving dialysis for kidney failure every 24 hours. In addition to this, the patient-friendly healthcare policies to treat CKD and end-stage renal diseases (ESRD) and advancements in the healthcare sector in the region are estimated to drive market growth.
The global latex foley catheters market is segmented by application into urinary incontinence, benign prostatic hyperplasia, prostate gland surgery, and others. The urinary incontinence segment is predicted to hold significant market share through 2031 owing to the rising prevalence of urinary tract infection and urological infection, which is capable of infecting various other organs (mostly the urethra, bladder, uterus, and kidney). Urinary incontinence (UI) affects nearly 25 million U.S. adults, either temporarily or permanently. Although UI can happen at any age, it is more prevalent in women over 50. Rising cases of stress and high blood pressure, which can cause UI and kidney diseases, will probably contribute to the sector's expansion as well.
Further, the global latex foley catheters market is segmented by end user into critical care units, hospitals, nursing homes, homecare, and others. The hospitals segment is estimated to hold the largest market share due to the increasing hospital patient pool and rising awareness about the importance of properly diagnosing and treating kidney diseases and other chronic diseases. This in turn is estimated to increase individual spending on healthcare. Data show around 930 million or more individuals spend 10% of their family income on healthcare. In addition, the provision of patient-friendly medical policies and advancements in healthcare sectors will also boost growth.
Some of the prominent market players include C.R. Bard Inc., Teleflex Incorporated, Medtronic plc, ConvaTec Group plc, Medline Industries LP, B. Braun Melsungen AG, Create Medic Co. Ltd., Fuji Systems Corporation, Coloplast A/S, and Cook Group Incorporated.
Research Nester predicts the sector to expand roughly 6% annually through 2031, driven by rising kidney disease caseloads, the prevalence of other conditions (diabetes, hypertension, etc.), treatment advancements, and an aging world population. A better awareness among people regarding prostate surgery and usage of catheters after prostate surgery also will drive the market's growth.
Chronic kidney disease (CKD) affects 10% of the population, and in the absence of accessible, inexpensive care, millions of people worldwide perish each year. Although more than 2 million people required dialysis or a kidney transplant to stay alive, this figure only represents 10% of those who require treatment to survive. The demand for treatment for kidney failure is rapidly increasing globally.
More than 404.6 million people worldwide had urinary tract infections (UTIs) in 2019, and about 236,786 of these cases were fatal. The age-standardized incidence rate for UTIs increased from 4,715 per 1 million people in 1990 to 5,229.3 per 1 million people in 2019. The transport of urine from the bladder is made easier by the use of foley catheters. Patients who undergo invasive urinary system surgery (mainly the kidney and bladder) are typically advised to use these devices. More than 80% of kidney failure patients receive treatment in wealthy nations with widespread access to healthcare and sizable senior populations. In the U.K., 52,224 new cases of prostate cancer were reported between 2016 and 2018 and surgery to remove the lump has been the primary cancer treatment for 15% of men who have been diagnosed with prostate cancer, industry data indicate.
With the need for more advanced treatments and medical equipment to combat chronic diseases, the majority of global regions are predicted to significantly invest in research and development activities, which will contribute to the market's expansion. Global R&D spending has more than tripled in real terms since 2000, rising from $677 billion that year to $2.2 trillion in 2019. Rising healthcare expenditures worldwide are forecast to boost growth over the forecast period. World Health Organization statistics show that global health spending has increased since the turn of the millennium—doubling in real terms—reaching $8.5 trillion in 2019 and 9.8% of gross domestic product (up from 8.5% in 2000).
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 Asia Pacific sector is expected to hold a noteworthy market share due to an aging population that is more prone to chronic diseases (mainly kidney diseases and diabetes). By 2050, an estimated one in four people in the Asia Pacific region will be older than 60, and between 2000 and 2035, type 2 diabetes is predicted to climb by more than 150% in South Asia, with aging and accompanying lifestyle changes as the main causes of the rapid increase. In addition to this, the doubling disposable income and increasing cost of treating these chronic diseases in the region are estimated to drive the market's growth.
The North American market is likely to hold the largest market share through 2031 owing to the rising prevalence of kidney diseases. About 37 million U.S. adults are thought to have CKD, though most of which go untreated, according to the Centers for Disease Control and Prevention. About 360 people start receiving dialysis for kidney failure every 24 hours. In addition to this, the patient-friendly healthcare policies to treat CKD and end-stage renal diseases (ESRD) and advancements in the healthcare sector in the region are estimated to drive market growth.
The global latex foley catheters market is segmented by application into urinary incontinence, benign prostatic hyperplasia, prostate gland surgery, and others. The urinary incontinence segment is predicted to hold significant market share through 2031 owing to the rising prevalence of urinary tract infection and urological infection, which is capable of infecting various other organs (mostly the urethra, bladder, uterus, and kidney). Urinary incontinence (UI) affects nearly 25 million U.S. adults, either temporarily or permanently. Although UI can happen at any age, it is more prevalent in women over 50. Rising cases of stress and high blood pressure, which can cause UI and kidney diseases, will probably contribute to the sector's expansion as well.
Further, the global latex foley catheters market is segmented by end user into critical care units, hospitals, nursing homes, homecare, and others. The hospitals segment is estimated to hold the largest market share due to the increasing hospital patient pool and rising awareness about the importance of properly diagnosing and treating kidney diseases and other chronic diseases. This in turn is estimated to increase individual spending on healthcare. Data show around 930 million or more individuals spend 10% of their family income on healthcare. In addition, the provision of patient-friendly medical policies and advancements in healthcare sectors will also boost growth.
Some of the prominent market players include C.R. Bard Inc., Teleflex Incorporated, Medtronic plc, ConvaTec Group plc, Medline Industries LP, B. Braun Melsungen AG, Create Medic Co. Ltd., Fuji Systems Corporation, Coloplast A/S, and Cook Group Incorporated.