Growing Prevalence of Urologic Diseases to Drive Growth in F
- Global foley catheters market to exceed valuation of USD 1.6 billion by 2027owing to increasing geriatric population and growing focus on innovation
- Latex segment under the material category and 3 way catheters segment under the product category will be prominent contributors of growth in the foley catheters market
ALBANY, N.Y., Aug. 18, 2020 /PRNewswire/ -- Over the forecast period of 2019 to 2027, the global foley catheters market would grow at a compound annual growth rate of 5.8%. A number of growth factors will ensure the market stays buoyant over the stated period. These include increase in incidence of urinary disorders and increase in geriatric population, among others.
Transparency Market Research notes, "Incidence of diseases and disorders such as bladder cancers, prostate cancer, urinary incontinence, benign prostate, bladder obstruction, and urinary retention is increasing, leading to increase in demand for foley catheters over the forecast period."
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Key Findings of Global Foley Catheters Market Study:
- In the product category, 3 way catheters segment will grow at a notable pace over the forecast period
- In the material category, sizeable share of the market will be accounted for by the latex segment
- In the end-user category, hospitals will contribute significantly to overall growth in the foley catheters market
- Region-wise, North America will lay claim to a major share of the market due to rapidly ageing population
For a detailed analysis of global foley catheters market by product, material, end-user, and region, visit TOC at https://www.transparencymarketresearch.com/report-toc/40913
Key Drivers of Growth in Global Foley Catheters Market:
A slew of growth factors are helping the global foley catheters market stay on an upward growth trajectory, notes Transparency Market Research. A glimpse into such positively influencing trends and drivers is provided below:
- Increase in incidence of urinary disorder across the world is being noted, driving the market forward
- Geriatric population is witnessing an increase in its numbers and since the demographic is susceptible to urinary disorders, the factor will fuel growth in market
- By 2050, one in every six people will be aged 65 and above and 2 billion people will be aged 60 and over across the world
- Focus on novel product development and increase in research and development activities is paving way for global foley catheters market growth
Analyze global foley catheters market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study https://www.transparencymarketresearch.com/sample.php
Regional Analysis of Global Foley Catheters Market:
- Over the forecast period, Asia Pacific (APAC) region is set to chart a compound annual growth rate of 6.6%
- Increase in geriatric patient pool and in disposable income are set to be notable growth factors
- India and China will see an increase in demand for indwelling catheters over the forecast period
- Significant share of the market will be held by North American region owing to robust healthcare infrastructure and rapidly ageing population
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Competitive Landscape of Global Foley Catheters Market
Transparency Market Research has comprehensively covered key market players in its report and these include Coloplast Corp., C.R. Bard (Becton, Dickinson & Company), Teleflex Incorporated, Bactiguard, Cardinal Health, Inc., Cook, SunMed, Medline Industries, and B. Braun Melsungen AG, among others. It is significant to note here that most of these companies have a notable geographic presence and an impressive portfolio. To ensure growth in the future and to consolidate market position, players deploy a range of strategies such as entering partnerships and collaborations based on mutual synergies. Research and development (R&D) also holds a special place in the market as it paves way for innovation and higher market share.
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- 2 way Catheters
- 3 way Catheters
- 4 way Catheters
By End user:
- Long-term Care Facilities
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
Indwelling Catheters Market: The global indwelling catheters market was valued at ~US$ 985 Mn in 2018, and is anticipated to reach ~US$ 1.6 Bn by 2027, expanding at a CAGR of ~6% from 2019 to 2027. Companies in the indwelling catheters market should focus on expanding their business in Asia Pacific and North America, since both regions are projected for exponential market growth.
Catheter Stabilization Devices Market: Increase in the geriatric population, which is prone to chronic diseases, large patient pool in developing countries requiring better health care facilities, and investments by public and private players in R&D on catheter stabilization devices to ensure elimination of catheter-associated infections and reduce the risk of catheter-related complications are key factors that are likely to drive the global catheter stabilization devices market during the forecast period.
Microcatheter Market: The global microcatheter market was valued at US$ 162.3 Mn in 2017 and is anticipated to reach nearly US$ 304.5 Mn by 2026, expanding at a CAGR of around 7.5% from 2018 to 2026. Rise in adoption of minimally invasive procedures, technological advancements, and increase in target patient population are likely to fuel the global microcatheter market from 2018 to 2026.
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