Catheter Securement Devices Market To Reach USD 1.74 Billion By 2027 – Reports and Data
The rise in geriatric population, cost-benefits associated with Securement Devices, the elevating incidence rate of lifestyle disease have resulted in boosting the Catheter Securement Devices market.
The global catheter securement devices market is forecast to reach USD 1.74 Billion by 2027, according to a new report by Reports and Data. Catheter Securement Devices can be defined as medical devices that are used for holding catheters in a specific position. It is useful in reducing the discomfort associated with continuous displacement of catheters among care users. Various factors are supporting the growth of the market. One of the mentionable factors in this regards being, constant rise in lifestyle diseases like cardiovascular conditions, associated hospitalization for cardiovascular procedures, in developed as well as developing regions. In addition to that, a continuous increase in the use of urinary catheters can be noticed among long-term care (LTC) facilities and acute care hospitals. In this regards, it is mentionable here that, continuous rise in geriatric population and associated increased demand for long-term care in chronic conditions, is supporting the market growth. On average, every year, more than 5 million patients require urinary catheters in long-term care (LTC) facilities and acute care hospitals.
In context to region, Europe can be seen to occupy a prominent market position. The market share held by the region is resultant of a continuously increasing geriatric population, rise in chronic conditions, and lifestyle diseases in Europe.
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Further key findings from the report suggest
- The Catheter Securement Devices market held a market share of USD 0.91 Billion in the year 2018 that is forecasted to grow at a rate of 7.1% during the forecast period.
- In context to Product Type, the Arterial Securement Devices segment generated the highest revenue of USD 0.27 Billion in the year 2018, with a growth rate of 7.3% during the forecast period. The extensive use of arterial catheters for ICU interventions, the rising incidence rate of cardiovascular diseases, and its increasing application in surgeries associated with cardiovascular diseases are some of the factors contributing to the market share occupied by the Arterial Securement Devices segment.
- In context to Application, the Cardiovascular Procedures segment generated the highest revenue of USD 0.19 Billion in 2018, with a growth rate of 7.4% during the forecast period. The market share occupied by the Cardiovascular Procedures segment is associated with the continuous elevation in lifestyle diseases in developing as well as developed nations that results in increased demand for these securement devices for cardiovascular procedures.
- In context to End-user, the Hospital segment is dominating that generated the highest revenue of USD 0.46 Billion in 2018, with a CAGR of 7.6% during the forecast period. Increasing rate of hospitalization associated with conditions like cancer, cardiovascular diseases results in an increased demand for these securement devices in hospitals, which contributes to the market share held by the segment.
- In regards to region, Asia Pacific is projected to witness the fastest growth rate of 7.7% during the forecast, which is expected to hold 2% of the market by 2027. The growth rate witnessed by the region is resultant of developing healthcare infrastructure and increasing incidence rate of chronic diseases in this region.
- Key participants include B Braun Melsungen AG, 3M Company, C.R. Bard (Becton Dickinson and Company), Baxter International, Convatec, Inc, Centurion Medical Products (Medline), Merit Medical Systems Inc., Mc Johnson Company Inc., Smiths Group PLC and Cardinal Health, Inc.
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For the purpose of this report, Reports and Data have segmented the global Catheter Securement Devices market according to Product Type, End-user, Application, and Region:
Product Type Outlook (Revenue, USD Billion; 2016-2027)
- Central Venous Catheter Securement Devices
- Arterial Securement Devices
- Urinary Catheters Securement Devices
- Peripheral Securement Devices
- Chest Drainage Tube Securement Devices
End-user Outlook (Revenue, USD Billion; 2016-2027)
- Homecare Settings
- Diagnostic Imaging Centers
- Emergency Clinics
Application Outlook (Revenue, USD Billion; 2016-2027)
- Respiratory Procedures
- Cardiovascular Procedures
- General Surgery
- Gastric and Oropharyngeal Procedures
- Urological Procedures
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Regional Outlook (Revenue, USD Billion; 2016-2027)
- North America
- Asia Pacific
- Latin America
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