Global Silicone Foley Catheter Market valued approximately USD $ billion in 2017 is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2018-2025. The major driving factors of Silicon Foley Catheter are increasing development in development of medical devices industry, pharmaceutical, and biotechnology industries, increasing prevalence of urologic diseases and increasing demand from emerging market.
The major restraining factor of Silicon Foley Catheter are potential risks associated with the use of Foley catheters and presence of alternative treatments for urinary incontinence over the coming years. Silicone Foley Catheter is a urinary catheter made entirely out of silicone. They contain no latex, which makes them ideal for people with latex allergies or sensitivities. Silicone Foley Catheters come in many different types and styles, including Foley, intermittent, and coude tip catheters.
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The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries.
According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
Silicone Foley Catheters cause less injuries and reduce substantially irritation of the urinary mucosa and the use of Silicone Foley Catheter in patients requiring long-term indwelling urinary catheters.
The regional analysis of Global Silicone Foley Catheter Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World.
North America is the leading or dominating player Silicon Foley Catheter market in 2016, due to large amount of money invested in R&D and advanced products development. Europe is not far behind and accounts for the second largest market share owing to adoption of new and advanced technologies and products. 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 region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
§ Long term
§ Short term
By Application:
§ Prostate gland surgery
§ Urinary retention
§ Urinary incontinence
§ Spinal cord injury
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By Regions:
§ North America
o U.S.
o Canada
§ Europe
o UK
o Germany
§ Asia Pacific
o China
o India
o Japan
§ Latin America
o Brazil
o Mexico
§ Rest of the World
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.”
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