Foley Catheters Market Overview:
The global market report on the foley catheters has the possibility of surpassing a valuation of USD 987.3 million during the forecast period covering 2018 to 2023. Market Research Future (MRFR) revealed recently that the market stands to benefit from the rising number of urological cases getting registered across the world, innovations taking place in several companies due to the growing competition, increasing demand from developing countries, wider portfolio of companies, growing acceptance, and others. The forecast period will witness a rise by 7.8% CAGR. A hike in the number of patients suffering from kidney-related disease can also boost the market outcome.
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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 global foley catheters market needs a proper region-specific analysis to provide players ample opportunities in discovering new ways to boost the market. This will helpin identifying growth pockets to increase the profit margin. In North America, the market enjoys substantial growth opportunities due to the increased spending in research and development. In 2016, the market had a valuation of USD 228.8 million.
In Asia Pacific, the market would register strong growth with China recording 10% CAGR during the forecast period. Europe would not be far behind from the North American market and would surpass USD 306.1 million valuation during the forecast period. Germany would helm the market with the UK registering the fastest growth rate.
Foley Catheters Market Competitive Landscape:
Coloplast Ltd (Denmark), Cook (US), B. Braun Melsungen AG (Germany), Medline Industries, Inc. (US), Teleflex (US), and Medtronic (Republic of Ireland) are some of the major companies impacting the global foley catheters market. These companies are ensuring a stable impact on the market by implementing several tactical measures like merger, innovation, branding, acquisition, collaboration, launching strategies, research and development, and others. MRFR recorded these moves to understand how well the market would benefit from these and trends that have been influencing such moves. This will also provide a clue about the future trendsetters.
Foley Catheters Industry News:
The global foley catheter market is expected to witness growth during the global crisis due to the COVID-19 pandemic. People in several countries got admitted into hospitals with severe health issues owing to which the demand for better healthcare service arose. This created a space for the foley catheters market to percolate and the business has witnessed a substantial rise in the past few months.
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