Foley Catheters Market Overview

A 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. They technology for the same is improving at a continuous pace and is bringing forward new opportunities in the market. These products are usually recommended by healthcare experts and providers for individuals who suffer from bladder-related issues like urinary incontinence and urinary retention. The rising incidence of urologic diseases across the globe is the primary driver pushing the market growth of foley catheters.Market Research Future (MRFR) postulates that the global Foley catheters market is predicted to garner USD 987.3million, grabbing a CAGR of 7.80% during the forecast period. Augmenting incidences of urologic diseases is estimated to favor the market growth.

A Foley catheter is referred to as a flexible urinary drainage tube which passes through the urethra into the bladder with the help of a small water-inflated balloon. They are improving at a consistent pace in terms of their scope of application and technology. They are usually recommended by the healthcare providers for people who are suffering from bladder disorders like urinary retention and urinary incontinence.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 Share positively in the upcoming period. A 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 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. They technology for the same is improving at a continuous pace and is bringing forward new opportunities in the market. These products are usually recommended by healthcare experts and providers for individuals who suffer from bladder-related issues like urinary incontinence and urinary retention. The rising incidence of urologic diseases across the globe is the primary driver pushing the market growth of foley catheters.

Foley Catheters Market Segmentation

• The global foley catheters market was studied by MRFR experts for the report where y 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 7.80% CAGR to surpass others in terms of growth during the forecast period.
• 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.
• 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.

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 regions 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 regions 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)

Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/foley-catheter-market-922

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