Foley Catheters Market report provides in depth study of Global Industry Research Report focuses on industry Size, Share, opportunities, industry analysis, market Leading player profiles and strategies. This New Report presented by Market Research Future contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. Further MRFR asserts that the Foley Catheters Market will demonstrate a colossal growth by 2023.
Global Foley Catheters Market is expected to grow at the CAGR of ~7.8% during the forecast period and is estimated to reach USD 987.3million by 2023.
The Global Foley Catheters Market is showing the significant growth; mainly due to increase in patient population suffering with Urinary tract infection, kidney and other renal diseases. Also increasing in aging population is one of the major factor for the growth of Foley catheters market. According to National Kidney foundation, 10% of world’s total population was affected by chronic kidney disease in 2015. Foley catheters are consider very useful in treatment management of acute urinary retention and chronic urinary retention. According to American Society of Nephrology, around 26 million Americans are suffering from chronic kidney disease.
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Companies are showing much interest toward the market of involuntary urination, as they feels there are huge opportunity and gap between the market demand and supply of effective treatments. Thus, companies are showing more interest in merger and acquisition activities for introducing quality product that meet the requirement of market. The development has been made by B. Braun Melsungen AG in 2016, they collaborate with Omnicell’s Performance Center and IV Automation Technology to increase system interoperability and to help reducing the time and clinical support needed to manage IV Infusions and IV compounding. Also in 2016, company launched the Only Macro and Micro Compounder with 26-lead preassembled sets the APEX Compounding System. It is the newest addition to B. Braun’s Clinical Nutrition 360 offering, which is a comprehensive approach to meeting the individualized clinical needs of patients and customers.
In 2015, C R Bard Inc. agrees to acquire Liberator Medical and has entered into a definitive agreement to acquire Liberator Medical Holdings Inc. by this acquisition C R Bard Inc. will improve its product portfolio as liberator medical has a strong list of products thus further improving its quality of products globally.
Market Research Future (MRFR) recognizes the following companies as the key players in Foley Catheters Market: There are plenty of large and small market players which operate in this market all over the globe.
Braun Melsungen AG (Germany), Coloplast Ltd (Denmark), Cook (US), Teleflex (US), Medline Industries, Inc. (US), and Medtronic (Republic of Ireland), C. R. Bard, Inc. (U.S.) are some of the leading players at the cutting edge of the competition in the market of foley catheters drug, globally.
Global Foley Catheters Market has been segmented on the basis of type of material latex, silicone, silicone elastomer coated latex, hydrophilic polymer coated latex, Polytetrafluoroethylene PTFE (Teflon) coated latex, and others.
On the basis of type, it is segmented into 2-way catheters, 3-way catheters, 4-way catheters, and others.
On the basis of end user, it is segmented into medical research center, hospitals, and ambulatory surgery centers.
The market of foley catheters is much higher in the Americas region. There are huge population suffering with various urologic diseases. According to Urology Care Foundation, in 2015, quarter to a third of men and women in the United States were suffering from involuntary urination. Millions of the Americans are facing the problems of involuntary urination and about 33 million have overactive bladder representing symptoms of urgency, frequency and with or without urge incontinence.
Europe is also consider huge market for foley catheters players, owing to increasing number of hospitalized patients due to various medical complications. According to last statistics published by EUROPA in 2014, an average duration of hospital stay in the European country is 5.2 days to 10.5 days.
Asia Pacific and the Middle East and Africa region are considering the big market. Whereas country like India and china of Asia Pacific region are considering fastest growing region due to presence of huge population suffering with urologic diseases, additionally they are open to adopt new technology, and best treatment option from developed, this gap between the developed and developing countries will present significant growth opportunity for the foley catheters market players in the coming years. Whereas the Middle East and Africa are low market due to his incapability of investment.
- Latex type of material segment accounts for the largest market share in the global foley catheters market while hydrophilic polymer coated latex segment is projected to grow at a CAGR of 8.3% during the forecast period from 2017 – 2023.
- 2-way catheters segment accounts for the largest market share in the global foley catheters market by type, this market is expected to reach USD 527.4 in 2023
- China Foley catheters market is expected to grow at a CAGR of 10.0% during the forecast period.
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