Foley Catheters Market Overview
Improved understanding of the treatment methods of various ailments has contributed to the need to develop appropriate medical equipment which aids in recovery. Reports that appraise the medical device industry have been presented by Market Research Future, which creates reports on industry verticals that assess the market development and prospects. The market is anticipated to gain a CAGR of 7.8%, which will lead to the market generating USD 987.3 million in earnings by 2023.
The market for foley catheter is expected to benefit from the rise in hospitalization rate globally, especially for urological diseases. The increased hospital budgets intended to ensure quality care and improved equipment availability to patients is expected to influence the Foley Catheters Market positively in the upcoming period.
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Foley Catheters Market Segmentation
The global foley catheters market was studied by MRFR experts for the report where they segmented it into material, type and end user. This is simplify the process of studying the market and understand various dynamics that can help players in improving the global market prospect. It will also help in developing various strategies to increase the profit margin.
By material, the global market for foley catheters can be studied on the basis of hydrophilic polymer coated latex, silicone elastomer coated latex, latex, silicone, Polytetrafluoroethylene PTFE (Teflon) coated latex, and others. The latex segment has the largest market share whereas the hydrophilic polymer coated latex segment can register 8.3% CAGR to surpass others in terms of growth during the forecast period.
By type, the global market report on foley catheters can be segmented into 2-way catheters, 4-way catheters, 3-way catheters, and others. The 2-way catheters segment would enjoy the maximum market coverage.
By end user, the global market for foley catheters can be segmented into hospitals, medical research center, and ambulatory surgery centers.The hospital segment will gain substantial traction due to the rising number of patients with urological disorders.
Foley Catheters Market Regional Analysis
The regional evaluation of the foley catheter market covers regions such as the Middle East, APAC, Europe, Africa, and North America. As per the global scenario of the market, North America is the leading contributor for foley catheters. Owing to the increased amount of capital devoted to R&D and product development, the North American region’s foley catheters market was worth USD 228.8 million in 2016. The European region is following the North American regional market in terms of market share and accounts for the next largest market share due to the adoption of innovative and superior technologies and products. The market is expected to accomplish USD 306.1 million in earnings by 2023. Germany is leading the market in the European region while the UK is the fastest rising foley catheters market in the European region. The Asia Pacific region is observing rapid development in this market, which is chiefly due to the quickly growing prevalence of different urologic diseases and increasing healthcare costs. The Asia Pacific region’s foley catheters market is estimated to develop at a CAGR of 9.3% through the forecast period. The Middle East and Africa regions are likely to show restricted growth, with the Middle Eastern region dominating this market by controlling 69.3% of the market share.
Foley Catheters Market Players
- Braun Melsungen AG (Germany)
- Cardinal Health (US)
- Coloplast Ltd. (Denmark)
- Boston Scientific Corporation (US)
- ConvaTec Inc. (UK)
- Becton
- Dickinson and Company (US)
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Foley Catheters Market OverviewA foley catheter is commonly known as a flexible urinary drainage tube that passes through the urethra and subsequently into the bladder with the aid of a tiny water-inflated balloon.
The rising incidence of urologic diseases across the globe is the primary driver pushing the market growth of foley catheters.The global Foley Catheters Material market was analyzed by Market Research Future (MRFR) and it was projected that a decent CAGR of 7.8% will be attained by the market over the forecast period of 2014 to 2023.
The valuation of the foley catheters market was further stated to surpass its previous valuation to reach USD 987.3 million by 2023.Competitive LandscapeThe global Foley Catheters Market comprises a host of key players.
This includes names like Medline Industries Inc. (US), Cook (US), Teleflex (US), B. Braun Melsungen AG (Germany), Coloplast Ltd (Denmark), and Medtronic (Republic of Ireland).Market Segmentation The global foley catheters market has been segmented in terms of type, end-user, and material.By material, the market includes silicone elastomer coated latex, silicone, silicone elastomer coated latex, latex, polytetrafluoroethylene PTFE (Teflon) coated latex, hydrophilic polymer coated latex, and others.
The 2-way catheters segment leads the global market with the largest percentage of share to its name.
The segment is anticipated to grow at a considerable pace to attain a revenue worth USD 527.4 by 2023.By end-users, the market divides into medical research center, hospitals, and ambulatory surgery centers.Browse More Information @ https://www.marketresearchfuture.com/reports/foley-catheter-market-922 Regional AnalysisThe global foley catheters market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).The North American region is estimated to be the leading contributor for Foley catheters in the coming years.
Transparency Market Research (TMR) has published a new report titled ‘Foley Catheters Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027.’ According to the report, the global Foley catheters market was valued at approximately US$ 1.0 Bn in 2018.
It is projected to expand at a CAGR of 5.8% during the forecast period from 2019 to 2027.
The global market is anticipated to be driven by a rise in the population suffering from urinary disorders, rapid utilization of Foley catheters in hospitalized patients in developed regions, and increase in focus on new product launch by industry players.
The Foley catheters market in Asia Pacific is expected to expand at a high CAGR of 6.6%, due to a rise in geriatric patient pool with urinary retention, thereby driving the demand for indwelling catheters in emerging countries such as India and China.Request Brochure –https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=40913Increase in prevalence of urologic diseases globally drives the marketRise in the prevalence of urologic diseases, such as urinary retention, benign prostate hyperplasia (BPH), bladder obstruction, urinary incontinence, prostate cancer, and bladder cancers, is expected to fuel the demand for Foley catheters during the forecast period.
Urinary retention is a chronic condition, wherein the patient is unable to voluntarily urinate and has an increased volume of residual urine in his bladder.
Increase in number of baby boomers with urologic diseases requiring long-term care in countries such as India and China is expected to provide lucrative opportunities to the market in the near future.
