Pune, Feb. 07, 2020 (GLOBE NEWSWIRE) -- The global Foley Catheter Market size is anticipated to reach USD 1.65 billion by 2026. Driven by the variations in product offerings, the market will rise considerably in the coming years. According to a report published by Fortune Business Insights, titled “Foley Catheters Market Size, Share & Industry Analysis, By Product Type (Two-way, Three-way, and Four-way), By Material (Latex, and Silicone), By Application (Urinary Incontinence, Benign Prostatic Hyperplasia, Surgery, and Others) By End User (Hospitals & Specialty Clinics and Long-term Care Centres) and Regional Forecast, 2019-2026,” the market was worth USD 1.02 billion in 2018 and will exhibit a CAGR of 6.2% during the forecast period, 2019-2026.
A Foley catheter is used for draining urine from the bladder in cases of urinary incontinence. The properties of urinary catheter make it suitable for longer periods. Recent advancements in catheters have offered more comfort and convenience to the patients, as a result of which they are being widely used and consulted by doctors across the world. The product is designed with materials that cater to treatment in the internal parts of the body. The high prevalence of BPH and urinary incontinence will create a platform for widespread product adoption.
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Report Overview:
The report provides a thorough analysis of the global Foley catheters market across five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. It analyzes the ongoing trends in each of these regions and highlights the products that have witnessed the highest demand. Besides this, it highlights the factors that have had the highest impact on the market in recent years. The competitive landscape has been discussed in detail and predictions have been made with respect to leading companies and the strategies adopted by these companies. Moreover, the report includes market figures for a forecasted period of 2019-2026.
Increasing Number of Product Launches Will Aid Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of product launches that are introduced to cater to the high demand, will have a huge impact on the growth of the market in the coming years. In October 2019, Cathetrix announced the launch of FoleySafe. The company unveiled the product at MEDICA 2019. The device is said to prevent possible damage to the bladder or uthera. The report highlights some of the major product launches of recent times and gauges their impact on the growth of the market.
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Market in North America to Derive Growth from the High Prevalence of Urinary Incontinence
Among all the regions that have been analyzed in the report, the market in North America will witness considerable growth in the coming years. The high prevalence of urinary incontinence will create several opportunities for the growth of the companies operating in this market. According to the Society for Healthcare Epidemiology of America, in 2014 around 25% of the total patients in the United States were treated by Foley catheters at some time during their hospital stays.
List of the leading companies that are operating in the global Foley catheters market are:
- BD
- Coloplast Corp
- B. Braun Melsungen AG
- Teleflex Incorporated
- Cardinal Health
- Medtronic
- SunMed
- BACTIGUARD
- Other Players
Industry Developments:
December 2017: BD completed the acquisition of C. R. Bard, Inc. with the aim to include Bard’s diverse products. Through this acquisition, the company plans to expand in the global market and establish a strong presence brand presence.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Urinary Incontinence & BPH, For Key Country/ Regions
- Number of Surgical Procedures, For Key Country/ Region
- Technological Advancements in Foley Catheters
- Key Industry Developments - Mergers, Partnerships & Acquisitions
- Global Foley Catheters Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast, Insights and Forecast – By Product Type
- Two-way
- Three-way
- Four-way
- Market Analysis, Insights and Forecast – By Material
- Latex
- Silicone
- Market Analysis, Insights and Forecast – By Application
- Urinary Incontinence
- Benign Prostatic Hyperplasia
- Surgery
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals & Specialty Clinics
- Long-term Care Centers
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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