According to the latest market report published by Credence Research, Inc. “Central Venous Catheters Market – Growth, Future Prospects, and Competitive Analysis, 2017 – 2025,” the global central venous catheters market was valued at US$ 756.5 Mn in 2016, and is expected to reach US$ 1,176.5 Mn by 2025, expanding at a CAGR of 5.2% from 2017 to 2025.
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Market Insights
A central venous catheter catheterization, or central line is time tested technique for access to the major venous system. Central venous catheters are inserted through internal jugular vein, femoral vein and subclavian vein. Through their wide product portfolio, central venous catheters are used as a portal for delivery of parenteral nutrition, medications and collection of blood samples. It is also used for monitoring hemodynamic variables, measuring central venous pressure, haemodialysis and chemotherapy over a long period of time. Rising incidence of cancer and chronic diseases, especially in geriatric patients will drive the sales of catheters. Condition of patients in cancer, gastrointestinal disease increases the need for parenteral nutrition, leading to growth of central venous catheters market. There is a rise in adoption and increase in demand of antimicrobial coated catheters, which would further drive the market growth. Usage of central venous catheter is also associated with complications that may cause serious morbidity and mortality, this restricting the market growth.
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The global central venous catheters market is segmented by product type into tunneled catheters and non-tunneled catheters. Non tunnelled catheters currently dominate the global central venous catheters market. The global central venous catheters market is also segmented by design type into single lumen, double lumen and multi lumen types. Multi lumen has several advantage over the single lumen products and are able to serve multiple purpose, thus are in high demand as against single and double lumen catheters. The global central venous catheters market is segmented by composition type into polyurethane, polyurethane/polycarbonate and silicone. Polyurethane is new material that is more stiff and strong and is preferred over traditionally used silicone, thus occupying larger share of central venous catheters market.
As of the current market scenario, North America dominates the global central venous catheter market followed by Europe. Rising prevalence of cancer and chronic diseases, technological advancement and adoption of novel products are the key factor driving the central venous catheters market. Asia Pacific is the fastest growing regional market for central venous catheters, due to huge population, rise in incidence of cancer and cardiovascular diseases, improving healthcare infrastructure and high disposable income.
Market Competition Assessment:
Key players in the global central venous catheters market are AngioDynamics, B. Braun Melsungen AG, Becton Dickinson Company, Comed B.V., C.R. Bard, Edwards Lifesciences, Medtronic Plc, Kimal, Rochester Medical Co, Smiths Medical, Teleflex Incorporated, Terumo Corporation, Vygon (U.K.) Ltd. and others.
Key Market Movements:
– Rise in geriatric population suffering from cancer, chronic disease, increase in hospitalization are factors driving growth of central venous catheter market
– Usage of antimicrobial catheter and increasing adoption of novel products to reduce the infection caused due to central venous catheters is also further enhancing the sales of central venous catheters
– There is being continuous improvement and enhancement in terms of technology, designing and material used for manufacturing central venous catheter of better quality and safety profile of the patient further driving the central venous catheters market
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