
The global peripherally inserted central catheter industry value is predicted to grow from USD 1,037.0 million in 2024 to USD 1,289.9 million in 2034. Overall demand for PICCs will likely increase at 2.2% CAGR throughout the assessment period.
Peripherally inserted central catheters (PICCs) are in greater demand due to the rising prevalence of cancer. This is because chemotherapy medications are injected directly into the veins using PICCs, preventing vein discomfort.
The need for peripherally inserted central catheters is also expected to rise in response to the growing need for parental nourishment in people with illnesses or ailments affecting food intake and nutritional digestion. Further, the market is anticipated to expand globally due to the continuous approval of PICC products.
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Programs that raise awareness of cancer aim to reduce the stigma and fear related to cancer treatment. This could indirectly encourage the use of PICC lines and other medical interventions in general, increasing their acceptance of longer-term intravenous therapies.
Increasing cancer awareness campaigns and the development of tunneled PICC products have facilitated market growth and are anticipated to drive its expansion in the future. However, the peripherally inserted central catheter industry is expected to face challenges due to several variables, including a rise in deep vein thrombosis and a high risk of bloodstream infections.
Key Takeaways from the Market Study:
- The global PICC market is projected to total USD 1,289.9 million in 2034.
- By product, power injected PICC segment is expected to display a CAGR of 2.2% over the forecast period.
- By lumen, double lumen segment is expected to show a CAGR growth of 3.0% over the forecast period.
- By application, the long-term IV infusion segment is projected to surge at a CAGR of 0.8% by 2034.
- North America is anticipated to witness a CAGR of 1.2% through 2034.
- The United States market value is set to total USD 545.82 million by the end of 2034.
“Rising focus on combating hospital-acquired infections and growing geriatric worldwide are expected to boost the peripherally inserted central catheter market over the forecast period,”- says a lead analyst of Future Market Insights (FMI).
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Who is Winning?
Key PICC manufacturers are concentrating on introducing novel solutions with enhanced features, including antimicrobial coatings. They also employ strategies like facility expansions, mergers, agreements, collaborations, and acquisitions to boost their revenue and expand their footprint.
Recent developments:
- In June 2023, Cardinal Health announced that it would build a new distribution center in Greenville, South Carolina. The new distribution hub will give medical supply providers to Americans with critical and chronic health conditions.
- In May 2023, Teleflex Incorporated launched two new devices, Arrow® VPS Rhythm® DLX Device and NaviCurve™ Stylet, designed explicitly for PICC insertion procedures.
Key Companies Profiled:
Vygon (UK) Ltd; Becton, Dickinson and Company; Cardinal Health, Inc.; ICU Medical, Inc.; Kimal Plc; Polymedicure; Teleflex Incorporated; AngioDynamics; B. Braun Medical Ltd; Haolang Technology (Foshan) Limited Co., Ltd.; Medical Components, Inc; Argon Medical; Access Vascular, Inc.; Utah Medical Products, Inc.; Biowy Corporation; Medi-Tech Devices; Footprint Medical Incorporated; PFM Medical, Inc.; HuskMedical; NeoMedical; Cook Medical
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Peripherally Inserted Central Catheter (PICC) Market by Category:
By Product:
- Conventional PICC
- Power Injected PICC
- Neonatal PICC
By Lumen:
- Single Lumen
- Double Lumen
- Multiple Lumen
By Application:
- Chemotherapy
- Long-term IV Infusion
- Parenteral Nutrition
- Blood Transfusion
- Difficult Intravenous Access
- Others
By End User:
- Hospitals
- Cancer Research Institutes
- Long Term Care Centers
- Independent Infusion Centers
- Ambulatory Surgical Center
- Home Care Settings
By Region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
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Website: https://www.futuremarketinsights.com
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