Press release
Foley catheters Market to Reflect Impressive Growth Rate of 7.8% by 2023
Market synopsis of global Foley catheters market:
Market Scenario:
A foley catheter is a flexible urinary drainage tube that passes through the urethra and into the bladder by a small, water-inflated balloon.
Increasing prevalence of urologic diseases, hospitalization, new product development and launches, large product portfolio, wide acceptance, and increasing demand from emerging market is driving the growth for global foley catheter market. Major players of this market are investing in research and innovative product development to improve existing structure and usage of the foley catheters.
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.
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Key Findings:
• 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.
Market Segments:
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
• On the basis of type, it is segmented into 2-way catheters, 3-way catheters, 4-way catheters
• On the basis of end user, it is segmented into medical research center, hospitals, and ambulatory surgery centers
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Key players for global foley catheters market:
Some of the key players in this market are:
• B. Braun Melsungen AG (Germany)
• Coloplast Ltd (Denmark)
• Cook (US)
• Teleflex (US)
• Medline Industries Inc. (US)
• Medtronic (Republic of Ireland)
Intended Audience:
• Foley catheters manufacturers
• Foley catheters providers & suppliers
• Medical research laboratories
• Research and Development (R&D) Companies
• Market Research and Consulting Service Providers
• Potential Investors
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Regional analysis of global Foley catheters market:
Considering the global scenario of the market, North America is the top contributor for foley catheters. Due to large amount of money invested in R&D and advanced products development, the North American Foley catheters market was valued USD 228.8 million in 2016. Europe is not far behind and accounts for the second largest market share owing to adoption of new and advanced technologies and products; it is expected to reach USD 306.1 million by 2023.Germany is dominating this market while UK is the fastest growing Foley catheters market in Europe. Asia Pacific is witnessing rapid growth in this market which is mainly due to rapidly increasing prevalence of various urologic diseases and rising healthcare expenditure. Asia Pacific foley catheters market is expected to grow at a CAGR of 9.3% during the forecast period. Middle East & Africa is expected to have limited growth. Middle East is dominating this market by holding 69.3% of the market share.
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Akash Anand,
Market Research Future
Office No. 528, Amanora Chambers
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