Foley Catheters Market To Surpass USD 987.3 Mn By 2023

Foley Catheters Market – Overview

The medical devices are evolving as healthcare facilities get more competent to ensure high service delivery. Market reports linked with the healthcare industry have been presented by Market Research Future which produces reports on other business verticals that summaries the present market scenarios.

The rise in research investments is increasing the overall product quality substantially. Factors such as the growing prevalence of urologic diseases, hospitalization, and new product development and launches is improving the overall development of the foley catheters market. Rising rates of hospitalization are expected to incentivize the market growth for foley catheters further.

Segmental Analysis

The foley catheters market has been segmented on the basis of type of material, type, end users and region. On the basis of type of material, the market is segmented into silicone, Polytetrafluoroethylene PTFE (Teflon) coated latex, latex, silicone, elastomer coated latex, hydrophilic polymer coated latex, and others. The type basis of segmentation of the market comprises of 3-way catheters, 2-way catheters, 4-way catheters, and others. The end-user-based segmentation of the foley catheters market consists of hospitals, medical research center, and ambulatory surgery centers. The regions encompassed in the market are Asia Pacific, Middle East, Africa, Europe, and North America.

Detailed

Regional Analysis

The regional analysis of the foley catheters comprises of regions such as Asia Pacific, Middle East, Africa, Europe and North America. The North American region is the highest contributor for foley catheters. Owing to a vast amount of money invested in R&D and progressive products development, the North American foley catheters market is progressing favorably. The European region is the second highest region and accounts for the next major market share due to the acceptance of new and advanced technologies and products; it is anticipated to reach USD 306.1 million by 2023. Germany is controlling this market while the UK is the fastest growing Foley catheters market in the European region. The Asia Pacific region is observing speedy growth in this market which is mostly due to the quickly growing prevalence of many urologic diseases and increasing healthcare expenditure. The Asia Pacific foley catheters market is anticipated to expand at an optimistic CAGR during the forecast period. The Middle East & African regions are likely to have limited growth. Although, the Middle East is growing at a better pace as compared to Africa.

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Competitive Analysis

The market has significantly repealed the market hurdles and thus is motivating improvement in the number of companies in the market. The market is at the highest production level and will be capable to make improved worth for the companies in the market and its investors. The capacity to utilize the economies of scale is showing a positive effect on the market’s complete growth. The diversification of the product variety in the market is improving the prospects for the development of the market. The management’s predisposition in the market is strengthening the level of growth that can be accomplished in the present market situation.  The growth patterns are adapted in relation to the customer proclivity to achieve the highest growth, and in the long run, sustainability.

The noteworthy contenders shaping the market are Coloplast Ltd (Denmark), B. Braun Melsungen AG (Germany), Medline Industries, Inc. (US), Cook (US), Teleflex (US), and Medtronic (Republic of Ireland).

Industry Updates:

Nov 2018 an inventor from Miami, Fla., has developed a system for preventing contamination of a foley catheter during insertion. The BIBI line and catheter feeder has a soft tip that holds the sterile catheter securely and does not leave a dent on the tip of the catheter. It nulls all acquired bloodstream infections and urinary tract infections.