With a robust CAGR of 5.1% between 2022 and 2032, the global central venous catheter market is expected to provide significant potential prospects. The global market reached US$ 2.9 billion in 2021 and is predicted to reach US$ 3.1 billion by the end of 2022. Because of the increasing prevalence of cardiovascular diseases and malignancies, the worldwide demand for central venous catheters is expected to rise to US$ 5.1 billion by 2032.
In comparison to a historical analysis of the worldwide central venous catheter market, the CAGR from 2012 to 2021 was approximately 4.9%. From 2022 to 2032, the current predicted period saw a 5.1% increase. The increasing use of central venous catheters in healthcare institutions for administering fluids, blood, or drugs to critically ill patients is a major driver of growth in the global central venous catheter market.
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To facilitate the supply of fluids and medicines, central venous catheters are skillfully implanted in veins in the neck, groyne, chest, or through veins in the arms. This device is useful for those who are unable to swallow food or drugs. As a result, the increased frequency of cardiovascular illness and chronic kidney disease, as well as the growing requirement for prolonged intravenous therapy in critically ill patients, will drive demand for venous catheters over the projection period.
Key Takeaways
- Because of the increased demand for various types of central venous catheter devices, prominent manufacturers are investing in research and development to introduce better and more efficient products. These factors are expected to drive growth during the predicted period.
- The widespread adoption of high-tech equipment in medical procedures and medical device insertions is bringing the central venous catheter market to the forefront. The increased use of ultrasound-guided insertions has proven to improve the safety and effectiveness of CVC implantation while also minimising problems.
- More accessibility to product-based solutions, such as quality control and infection prevention recommendations, has propelled market expansion, leading in an increase in the worldwide central venous catheter market’s overall revenue growth.
- The global burden of diseases, increased disposable income, and rising awareness of the use of surgical procedures to treat illnesses are driving expansion in the central venous catheter market.
- The non-tunneled catheter sub-segment accounts for around 77.0% of the total market share and is expected to maintain its dominance during the forecast period. Central venous catheter insertion is a normal and frequently required procedure in order to efficiently care for critically ill patients.
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Competitive Landscape
Prominent market players are focusing on upgrading their product portfolios by launching new and more advanced products. Besides this, they are increasingly showing interest in adopting different approaches and strategies including partnerships, mergers, acquisitions, and collaborations to improve their revenue share and expand their global presence.
Key Companies Profiled: Angio Dynamics, C.R. Bard, Teleflex Incorporated, B. Braun Melsungen AG, Kimal Healthcare, Comed B.V., Medtronic Plc, Smiths Medical, Vygon (UK) Ltd, Becton, Dickinson and Company, Argon Medical Devices, Inc., Boston Scientific Corporation, Cook Medical Incorporated, Medical Components, Inc., Fresenius Kabi AG
More Insights into the Central Venous Catheter Market
The US will continue to dominate with its presence in the global central venous catheters market during the forecast period, accounting for the largest market share of around 40.5% in 2022. The growth is attributed to the rising prevalence of chronic diseases, the high adoption of central venous catheter insertions, and the strong presence of some of the leading medical device giants.
Over a period of time, there has been a significant rise in chronic diseases like cancer and heart disease in the U.S. With the presence of developed healthcare infrastructure and insurance and reimbursement policies for standard medical procedures, the market for central venous catheters accelerated at a CAGR of 5.2% through the forecast years, within the U.S.
Key Market Segments Covered in Central Venous Catheter Industry Research
By Product:
- Dialysis Catheters
- PICC Catheters
- Implantable Port
- CVC Catheters
By Property:
- Anti-microbial Catheter
- Non Anti-Microbial Catheter
By Design:
- Single Lumen
- Double Lumen
- Multiple Lumen
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Dialysis Centers
- Specialty Clinics & Others
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