Foley Catheters Market Overview

Improved understanding of the treatment methods of various ailments has contributed to the need to develop appropriate medical equipment which aids in recovery. Reports that appraise the medical device industry have been presented by Market Research Future, which creates reports on industry verticals that assess the market development and prospects. The market is anticipated to gain a CAGR of 7.8%, which will lead to the market generating USD 987.3 million in earnings by 2023.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 catheter market positively in the upcoming period.

Improved understanding of the treatment methods of various ailments has contributed to the need to develop appropriate medical equipment which aids in recovery. Reports that appraise the medical device industry have been presented by Market Research Future, which creates reports on industry verticals that assess the Foley Catheters Market development and prospects. The market is anticipated to gain a CAGR of 7.8%, which will lead to the market generating USD 987.3 million in earnings by 2023.

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 catheter market positively in the upcoming period.

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Foley Catheters Market Segmentation

• The global Foley catheters market has been segmented on the basis of material, type, and end-user.
• By mode of material, the global Foley catheters market has been segmented into silicone, latex, hydrophilic polymer coated latex; silicone elastomer coated latex, polytetrafluoroethylene PTFE (Teflon) coated latex, and others.
• By mode of type, the global Foley catheters market has been segmented into 3-way catheters, 2-way catheters, 4-way catheters, and others.
• By mode of end-users, the global Foley catheters market has been segmented into hospitals, medical research center, and ambulatory surgery centers.

Foley Catheters Market Regional Analysis

The global foley catheters market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).

The North American region is estimated to be the leading contributor for Foley catheters in the coming years. The growth of the regional market can be credited to the large pool of money being invested in research and development activities and increasing product development being made herein. Back in 2016, the market in North America stood at a valuation of USD 228.8 Million and is expected to surpass the same by the end of the ongoing assessment period. The region also includes established healthcare facilities alongside attractive reimbursement policies, which are collectively influencing the growth of the market.

The European region is reported to maintain its second position in the global foley catheters market. This is due to the rising adoption of some of the latest and advanced products as well as technologies in this region. The market is reported to reach a valuation of USD 306.1 million by the end of the forecast period. In Europe, the U.K. is slated to experience the fastest growth percentage, while Germany is expected to dominate the regional market.

The Asia Pacific region holds an important position in the market of foley catheters globally. The regional market is said to experience rapid growth rate in the coming years. The growth of the Asia Pacific market can be attributed to the widespread incidence of various urological diseases and the increasing expenditure in the healthcare sector. Emerging nations like China and India are primed to be higly lucrative areas for the market due to the prevalence of chronic diseases, expanding geriatric population, and accelerating demand for advanced therapies as well as products.

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)

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