Transparency Market Research (TMR) has published a new report titled ‘Foley Catheters Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027.’ According to the report, the global Foley catheters market was valued at approximately US$ 1.0 Bn in 2018. It is projected to expand at a CAGR of 5.8% during the forecast period from 2019 to 2027. The global market is anticipated to be driven by a rise in the population suffering from urinary disorders, rapid utilization of Foley catheters in hospitalized patients in developed regions, and increase in focus on new product launch by industry players. The Foley catheters market in Asia Pacific is expected to expand at a high CAGR of 6.6%, due to a rise in geriatric patient pool with urinary retention, thereby driving the demand for indwelling catheters in emerging countries such as India and China. Request Brochure of Report - https://www.transparencymarketresearch.com/sample/sample.php? flag=B&rep_id=40913 Increase in prevalence of urologic diseases globally drives the market Rise in the prevalence of urologic diseases, such as urinary retention, benign prostate hyperplasia (BPH), bladder obstruction, urinary incontinence, prostate cancer, and bladder cancers, is expected to fuel the demand for Foley catheters during the forecast period. Urinary retention is a chronic condition, wherein the patient is unable to voluntarily urinate and has an increased volume of residual urine in his bladder. It is most common urinary condition affecting the geriatric population, i.e., people of ages 40 and above. For instance, according to The American Academy of Family Physicians (AAFP), the overall incidence of urinary retention is 4.5 to 6.8 per 1,000 men, per year, in the U.S. Thus, an increase in number of target urinary diseases is expected to drive the demand for indwelling catheters, which in turn is likely to boost the market in the next few years. 2 way catheters segment dominated the market In terms of product, the market can be classified into 2 way, 3 way, and 4 way Foley catheters. The 2 way Foley catheters segment is projected to account for a leading share of the global market during the forecast period. 2 way Foley catheters are flexible indwelling catheters, appropriate for long-term use, which help drain urine from one lumen and have an inflatable balloon at the other end in order to hold the catheter in place. The segment is expected to expand at a considerable growth rate in the next few years, owing to an increase in the demand for these catheters for bladder drainage in patients with urinary retention. This is expected to boost their adoption rate in the next few years. Request for Analysis of COVID-19 Impact on Foley Catheters Market https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=40913 Silicone catheters to be a highly lucrative segment Based on material, the global Foley catheters market has been bifurcated into latex and silicone. The silicone segment is expected to expand at a high CAGR during the forecast period, owing to advantages offered over conventional latex catheters. Longer life, large lumen diameter, inherent biocompatibility and bio-durability, decreased urethral irritation, and reduced encrustation offered by silicone catheters make them a preferred choice for urinary drainage for long-term usage.
Foley Catheters Market Trends and Growth Factors Analysis
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.