The Global Foley Catheters Market is showing the significant growth; mainly due to increase in patient population suffering with Urinary tract infection, kidney and other renal diseases. Also increasing in aging population is one of the major factor for the growth of Foley catheters market. According to National Kidney foundation, 10% of world’s total population was affected by chronic kidney disease in 2015.
The 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.
Foley catheters are consider very useful in treatment management of acute urinary retention and chronic urinary retention. According to American Society of Nephrology, around 26 million Americans are suffering from chronic kidney disease.
Companies are showing much interest toward the market of involuntary urination, as they feels there are huge opportunity and gap between the market demand and supply of effective treatments. Thus, companies are showing more interest in merger and acquisition activities for introducing quality product that meet the requirement of market. The development has been made by B. Braun Melsungen AG in 2016, they collaborate with Omnicell’s Performance Center and IV Automation Technology to increase system interoperability and to help reducing the time and clinical support needed to manage IV Infusions and IV compounding.
Also in 2016, company launched the Only Macro and Micro Compounder with 26-lead preassembled sets the APEX Compounding System. It is the newest addition to B. Braun’s Clinical Nutrition 360 offering, which is a comprehensive approach to meeting the individualized clinical needs of patients and customers.
In 2015, C R Bard Inc. agrees to acquire Liberator Medical and has entered into a definitive agreement to acquire Liberator Medical Holdings Inc. by this acquisition C R Bard Inc. will improve its product portfolio as liberator medical has a strong list of products thus further improving its quality of products globally.
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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)
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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Key Questions Answered In This Report
- What will the market size and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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