Central Venous Catheter Market to increase at CAGR of 5.1% through 2026
Future Market Insights (FMI) delivers key insights on the global central venous catheter market in its latest report titled,“Global Central Venous Catheter Market: Industry Analysis and Opportunity Assessment, 2016–2026”. In terms of revenue, the global central venous catheter market is projected to register a CAGR of 5.1% over the forecast period owing to various factors, on which FMI offers detailed insights and forecasts.
Growth of the global central venous catheter market is mainly driven by rising adoption and growing demand for antimicrobial coated catheters, coupled with socio-economic factors such as increasing disease incidences due to a growing geriatric population. Other prominent growth drivers are product innovations and increasing rates of hospitalisations. A key trend in the global central venous catheter market is the increasing usage of tip location devices for locating the tip of the catheter during central access procedure. Increasing number of oncologists are prescribing antimicrobial coated tunnelled catheters for chemotherapy regimens, which is another prominent trend in the global central venous catheter market.
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The market is segmented based on product type, design of the catheters, composition of the catheters, properties, end user and regions. Based on product type, the market has been segmented into tunnelled and non-tunnelled catheters.
- Non-tunnelled catheters are expected to exhibit the fastest CAGR, due to increase in the usage of these catheters by anaesthesiologists in the emergency room. The segment is expected to register a CAGR of 5.3% during the forecast period. However risk of catheter related blood stream infection with non-tunnelled catheters is expected to adversely affect demand for these central venous catheters over the forecast period
- To provide deeper insight into pattern of demand for central venous catheters, the market has been segmented based on the properties of the central venous catheters such as antimicrobial coated catheters and non-antimicrobial coated catheters
- The antimicrobial coated catheters property segment is expected to witness a highest CAGR of 6.0% over the forecast period. The market has also been segmented based on the composition of the catheter such as catheters made up of polyurethane, polyurethane/polycarbonate and silicon. Polyurethane CVCs are expected to exhibit the fastest CAGR during the forecast period
- To analyse the sales of central venous catheter further, the market has been segmented based on the design of the catheters such as single lumen catheters, double lumen catheters and multi lumen catheters
- In addition to this, the market has also been segmented by end users into hospitals, ambulatory surgical centres, and speciality clinics. The Hospital end user segment is expected to account for the highest demand for central venous catheter over the forecast period, registering a CAGR of 5.3%. Increasing patient admissions for major surgeries, trauma cases, accidents etc. is anticipated to push the demand for central venous catheters in hospitals over the forecast period
This report assesses trends driving growth of each segment on the global as well as regional levels, and offers potential takeaways that could prove substantially useful to central venous catheters manufacturers looking to enter the market. North America has been estimated to dominate the global central venous catheter market with a maximum market share in 2015. North America and Western Europe have been collectively expected to account for around 50% of the total global central venous catheter market share in terms of value in 2015. Amongst the emerging markets, APEJ region is estimated to exhibit the highest CAGR of 6.2% over the forecast period, due to an increase in the number of patients admitted to hospitals.
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Some key players in the global central venous catheter market identified in the report include AngioDynamics, C.R. Bard, Teleflex Incorporated, Kimal, B. Braun Melsungen AG, Vygon (UK) Ltd., Smiths Medical and Comed B.V. FMI has discussed individual strategies of these companies in terms of enhancing product portfolio, distribution partnerships, market consolidation and advanced R&D initiatives. In addition, the report also provides company share and competitive dashboard for players already present in the market.