Central Venous Catheter Market: Rising adoption and increasing demand for antimicrobial-coated catheters to drive the market
Central venous catheter is a thin, flexible tube (catheter) that is placed into the large vein above the heart, usually through a vein in the neck, chest, or arm. It’s also called the central venous line or central line. Central venous catheters are used to administer chemotherapy drugs, intravenous (IV) fluids, antibiotics, blood and platelet transfusions, parenteral nutrition, etc. The peripherally inserted catheter is the commonly used central venous catheter due to several advantages such as easy to insert and remove, easy to repair. Central venous catheters need special care. They may require regular cleaning or dressing employing sterile techniques. Central venous access is a commonly performed procedure with about 8% of hospitalized patients needing central venous access during the course of their hospital stay. More than five million central venous catheters are inserted in the U.S. each year.
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Rising adoption and increasing demand for antimicrobial-coated catheters, rising number of chronic diseases such as cancer, end-stage renal disease and others, increasing geriatric population, and rising usage of tip location devices are anticipatead to drive the global central venous catheter market. Other factors such as favorable insurance and reimbursement policies, technological innovation, and early adoption of diagnostic procedures are likely to fuel the overall central venous catheter market. According to the U.S. Department of Health and Human Services, national expenditures for cancer treatment in the U.S. was nearly US$ 125 billion in 2010 and is estimated to reach US$ 156 billion by 2020. On the other hand, the risks associated with catheters and pricing pressure are projected to hinder the expansion of the global central venous catheter market.
The central venous catheter market has been segmented based on product type, route of insertion, application, end-user and region. In terms of product type, the market can be segmented into peripherally-inserted central catheter (PICC), non-tunneled catheters, tunneled catheter, and implanted port. In terms of route of insertion, the central venous catheter market can be segmented into intravenous and subcutaneous. Based on application, the central venous catheter market can be segmented into medication administration, administration of fluid and nutrition, transfusion of blood products, and diagnostic testing. In terms of end-user, the market can be segmented into hospitals, clinics, ambulatory surgery centers, and diagnostic centers.
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In terms of region, the central venous catheter market has been segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
North America dominates the global central venous catheter market due to technological advancement, rising prevalence of cancer, cardiovascular and end stage renal diseases, and rising geriatric population. According to the American Cancer Society, about 1,688,780 new cancer cases are expected to be diagnosed in 2017 in the U.S. Europe is the second largest market for central venous catheter due to increasing number of patients undergoing dialysis and transfusion of blood products, and rising lifestyle diseases. The central venous catheter market in Asia Pacific is estimated to expand at higher rate due to the large population base, high target patient pool, increasing government initiatives to provide better healthcare facilities, rising disposable income, and per capita health care expenditure. According to the World Health Organization, Singapore ranks sixth, globally, for its advanced healthcare system and offers the fourth best healthcare infrastructure in the world. Demand for advanced medical technologies is anticipated to strengthen its reputation as a healthcare hub in the region.
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Major players operating in the global central venous catheter market include B. Braun Melsungen AG, Becton, Dickinson and Company, C. R. Bard, Cook Medical, Teleflex Incorporated, Siemens Healthineers, and AngioDynamics, Inc.
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