Research Nester’s recent market research analysis on “Foley Trays Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global foley trays market in terms of market segmentation by material, end user, gender, indication, catheter type, and by region.
Growing Number of Surgical Procedures to Promote Global Market Share of Foley Trays
The global foley trays market is estimated to grow majorly on account of the increased number of surgical procedures taking place all across the globe. During the forecast period, demand in the market for foley trays will be increased due to increasing numbers of operating procedures which require postoperative care. Market demand for foley trays increases due to increasing awareness and increased use of treatment. Demand for foley trays is anticipated to rise as the growing elderly population becomes increasingly dependent on them. In the coming decade, demand for foley tray is expected to be driven by generous reimbursement policies in developed countries.
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Some of the major growth factors and challenges that are associated with the growth of the global foley trays market are:
Growth Drivers:
• Surge in Geriatric Population
• Rising Number of Surgical Procedures Taking Place
Challenges
The foley tray market is subject to a number of regulations that can make it difficult for manufacturers to bring new products to market. This can slow down innovation in the market. Furthermore, side effects associated with foley trays and the impact of covid-19 pandemic are some of the major factors anticipated to hamper the global market size of foley trays. A lockdown was put in place in some countries because of the COVID-19 pandemic, which led to a delay in production. As a consequence of restrictions imposed on the import and export activities at either side of the border affecting the market for foley trays, there is also evidence of supply chain disruption. As a result of the pandemic delaying the growth of the foley tray market, there has been a significant decrease in hospital visits and surgical procedures.
By indication, the global foley trays market is segmented into urinary incontinence, prostate cancer, bladder obstruction, spinal cord injury, urinary tract infection. The urinary incontinence segment is to cover half the market by the end of 2036 growing at a significant CAGR over the forecast period. A large prevalence of these diseases worldwide, with the United States alone having 1,229 to 627 urinary stricture cases per 100,000 men. In addition, due to the growing incidence of these cases, chronic obstruction and neurogenic urinary tract disease are expected to collectively account for a quarter of global value.
The market in the Asia Pacific region is estimated to grow substantially during the time period between 2024 – 2036. It is anticipated that recent developments in foley catheters would provide patients with even greater comfort and convenience, leading to a rise in use in the region. India ranks as one of the biggest economies in the world and has a sizable elderly population. Additionally, it is anticipated that India's elderly population will keep growing.
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