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.
Major companies active in the global foley catheter market include Cardinal Health, Teleflex Incorporated, C.R Bard, Coloplast A/S, B. Braun Melsungen AG, Medtronic plc, ConvaTec Group, Flume, VOTG Medical, Ribbel International Limited, Sterimed Group, Angiplast Private Limited, JK Medirise, and Mais India Medical Devices Private Limited.
Key growth strategies implemented by market players to remain afloat amongst aggressive competition are the development of new product designs and limiting the occurrence of catheter-associated infections in an effort towards innovative designs. On these lines,
C.R Bard, an American medical technology producer, hires antimicrobial coatings and silver-ion to its product portfolio of foley catheters to eradicate the frequency of catheter-associated infections when utilized for long periods.
Producers are looking for approvals of regulatory bodies to increase their brand visibility and revenue prospects. On this premise,
Safe Medical Design Inc., a US-based business, obtained FDA approval for the commercialization of its latest product, signal catheter. The catheter is designed to limit urethral trauma due to premature balloon inflation amid placement. Such approvals and innovations will keep on boosting the market growth.
Get Valuable Insights into the Foley Catheter Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global foley catheter market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the foley catheter market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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