Foley Catheter Market to Surpass Market Valuation of US$ 2.2 Bn During 2020-2030, Says Future Market Insights in New Study

DUBAI, U.A.E, Sept. 29, 2020 /PRNewswire/ -- Future Market Insights (FMI) latest research reports on the foley catheter market is anticipated to grow at CAGR of about 5% during 2020-2030. According to the research, the developing base of the geriatric population and the high prevalence of urinary incontinence is the major contributor to the global foley catheter market. Similarly, the rising burden of urinary retention, a chronic condition wherein people are not able to voluntarily urinate, is boosting demand for foley catheters to help easily drainage of urine. 

"With catheter-acquired infections being a foremost challenge to the acceptance of foley catheters, producers are focusing on developing products with coatings and materials that assist in decreasing bacteria accumulation, therefore restraining the probability of catheter-acquired infections amid patients," remarks FMI analyst.

For more insights into the Market, Request a Sample of this Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-7769

Foley Catheter Market- Key Takeaways

• In terms of type, 2-way catheters will remain higher in demand and will hold over 50% of overall value during 2020-2030.
• Based on materials, both silicon and latex-based foley catheters account for a notable market share of about-equal proportions with the later will be slightly bigger.
• Based on indication, urethral stricture and urinary incontinence will cumulatively attain over 50% of the market value, with the former accounting for over one-third of worldwide value.
• Hospitals will remain the biggest channel with the majority of revenue due to the increasing number of hospitalizations and high reliability.

Foley Catheter Market - Key Trends

• Increasing incidences of urinary diseases keep on rising in direct proportion with the increasing geriatric population, the demand for foley catheters will triumph over the assessment period.
• Growing surgical procedures are performed annually due to Benign Prostatic Hyperplasia (BPH), which consequently transmutes into the demand for foley catheters.
• Neurological disorders leading to urological disorders fuels the requirement for foley catheters.

Regional Analysis