ALBANY, N.Y., Aug. 18, 2020 /PRNewswire/ -- Over the forecast period of 2019 to 2027, the global foley catheters market would grow at a compound annual growth rate of 5.8%. A number of growth factors will ensure the market stays buoyant over the stated period. These include increase in incidence of urinary disorders and increase in geriatric population, among others.
Transparency Market Research notes, "Incidence of diseases and disorders such as bladder cancers, prostate cancer, urinary incontinence, benign prostate, bladder obstruction, and urinary retention is increasing, leading to increase in demand for foley catheters over the forecast period."
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Key Findings of Global Foley Catheters Market Study:
For a detailed analysis of global foley catheters market by product, material, end-user, and region, visit TOC at https://www.transparencymarketresearch.com/report-toc/40913
Key Drivers of Growth in Global Foley Catheters Market:
A slew of growth factors are helping the global foley catheters market stay on an upward growth trajectory, notes Transparency Market Research. A glimpse into such positively influencing trends and drivers is provided below:
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Regional Analysis of Global Foley Catheters Market:
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Competitive Landscape of Global Foley Catheters Market
Transparency Market Research has comprehensively covered key market players in its report and these include Coloplast Corp., C.R. Bard (Becton, Dickinson & Company), Teleflex Incorporated, Bactiguard, Cardinal Health, Inc., Cook, SunMed, Medline Industries, and B. Braun Melsungen AG, among others. It is significant to note here that most of these companies have a notable geographic presence and an impressive portfolio. To ensure growth in the future and to consolidate market position, players deploy a range of strategies such as entering partnerships and collaborations based on mutual synergies. Research and development (R&D) also holds a special place in the market as it paves way for innovation and higher market share.
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Indwelling Catheters Market: The global indwelling catheters market was valued at ~US$ 985 Mn in 2018, and is anticipated to reach ~US$ 1.6 Bn by 2027, expanding at a CAGR of ~6% from 2019 to 2027. Companies in the indwelling catheters market should focus on expanding their business in Asia Pacific and North America, since both regions are projected for exponential market growth.
Catheter Stabilization Devices Market: Increase in the geriatric population, which is prone to chronic diseases, large patient pool in developing countries requiring better health care facilities, and investments by public and private players in R&D on catheter stabilization devices to ensure elimination of catheter-associated infections and reduce the risk of catheter-related complications are key factors that are likely to drive the global catheter stabilization devices market during the forecast period.
Microcatheter Market: The global microcatheter market was valued at US$ 162.3 Mn in 2017 and is anticipated to reach nearly US$ 304.5 Mn by 2026, expanding at a CAGR of around 7.5% from 2018 to 2026. Rise in adoption of minimally invasive procedures, technological advancements, and increase in target patient population are likely to fuel the global microcatheter market from 2018 to 2026.
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