Global Silicone Foley Catheter Market Size, Share, Growth Analysis, By Product Type(Short-Term, Long Term), By Application(Prostate Gl, Surgery), By Distribution Channel(Hospital, Retail Stores) - Industry Forecast 2023-2030

Silicone Foley Catheter Market size was valued at USD 1.55 billion in 2021 and is poised to grow from USD 1.64 billion in 2022 to USD 2.73 billion by 2030, growing at a CAGR of 5.81% in the forecast period (2023-2030).

The global silicone foley catheter market is witnessing steady growth due to an increasing number of patients requiring urinary catheterization. Silicone foley catheters offer advantages such as biocompatibility, flexibility, and reduced risk of infection. Growing awareness about healthcare-associated infections and the need for efficient urinary management contribute to the market's expansion. Technological advancements and product innovations further propel market growth. Factors like reimbursement policies and stringent regulations influence market dynamics, making it a competitive landscape for manufacturers.

Top-down and bottom-up approaches were used to estimate and validate the size of Silicone Foley Catheter In Manufacturing Industry and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report:

The Global Silicone Foley Catheter Market is segmented based on the Product Type, Application, Distribution Channel, and region. Based on the Product Type, the Global Silicone Foley Catheter Market is segmented into Short-term Foley Catheters and Long-term Foley Catheters. Based on the Application, the Global Silicone Foley Catheter Market is segmented as Prostate Gland Surgery, Urinary Retention, Urinary Incontinence, and Spinal Cord Injury. Based on the Distribution Channel, the Global Silicone Foley Catheter Market is segmented as Hospital, Retail Stores, and Others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Driver

The increasing incidence of urinary retention is expected to boost the demand for silicone foley catheters. Although both men and women can experience urinary retention, it is more prevalent in males, particularly in older age. Men who suffer from benign prostatic hyperplasia (BPH), a condition characterized by an enlarged prostate gland, are at a higher risk of developing urinary retention. The likelihood of acute urinary retention in men over 70 years of age is about 1 in 10, while for those in their 80s, it is approximately 1 in 3 over a period of five years. On the other hand, acute urinary retention is relatively rare in women, with about 3 in 100,000 women affected annually.

Restrain

The market for silicone foley catheters faces a significant obstacle due to its labor-intensive nature and higher cost compared to latex catheters. Consequently, many companies opt to purchase it at a reduced price from original equipment manufacturers (OEM) located in countries like China and Israel. In contrast, developing nations such as India and Indonesia, prefer latex catheters due to their affordability, even if they use silicone foley catheters, which are procured from countries like China through outsourcing.

Trends

China, Japan, and South Korea hold prominent positions as importers and exporters of silicone foley catheters in the Asia Pacific region. During the period from 2019 to 2021, China accounted for approximately 6% of the global imports and exports of silicone foley catheters, with Japan, South Korea, and India following suit. Nevertheless, it is expected that countries other than China and Japan will experience a comparatively slower growth in imports and exports during the forecast period.