SEATTLE, March 22, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, global central venous catheter market is estimated to be valued at US$ 2,117.8 million in 2021 and is expected to exhibit a CAGR of 6.2% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Central Venous Catheter Market:
Key trends in the market include increasing product approvals, increasing prevalence chronic diseases, increasing research and development activities, and inorganic activities such as collaborations etc.
Market players are indulged in inorganic activities such as acquisitions, in order to upgrade its company’s product portfolio and this is expected to drive the global central venous catheter market over the forecast period. For instance, on September 8, 2021, ICU Medical, Inc. acquired Smiths Medical Division from the Smiths Group Plc. The Smiths Medical business includes syringe and ambulatory infusion devices, vascular access, and vital care products. After the acquisition, ICU Medical, Inc. have updated portfolio of infusion therapy products.
Market players are focused on expanding its production facility, which is expected to enhance its market share as well as increase customer base, and this is expected to drive growth of the global central venous catheter market, over the forecast period. For instance, in 2018, B. Braun Medical Melsungen AG officially inaugurated five new production plants and other administrative buildings in Penang, Malaysia. The new manufacturing facilities are focusing on building and production technologies and manufacturing of medical devices for infusion therapy, pharmaceutical solutions, implants, and surgical instruments for the treatment of patients suffering from various disorders.
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Key players are indulged in facility expansion, in order to increase the manufacturing capacity of the company, which is expected to drive growth of the market over the forecast period. For instance, in June 2018, Cook Medical announced to sign a letter of intent with the Whitaker Park Development Authority Inc., to acquire a long-standing facility in Winston-Whitaker Salem's Park. A portion of the R.J. Reynolds building, a 314-foot Art Deco skyscraper, will be converted into a cutting-edge, world-class medical device manufacturing facility.
Key Market Takeaways:
Market players are indulged in signing group purchasing agreements, which is expected to drive growth of the global central venous catheter market over the forecast period. For instance, in 2020, Teleflex Incorporated, a manufacturer of specialty medical devices, signed a group purchasing agreements for Central Venous Access and Arterial Access with Premier, a healthcare improvement company. Under this agreement, Premier provided Teleflex with a multi-source Central Venous Access Product.
Among regions, North America is expected to hold a dominant position in the global central venous catheter market over the forecast period, owing to increasing prevalence of chronic diseases such as end-stage kidney disease (ESKD) and cancer in the region. For instance, According to the U.S. Renal Data System 2020 Annual Data Report, nearly 786,000 Americans have ESKD, also known as end-stage renal disease (ESRD), with 71% receiving dialysis and 29% receiving a kidney transplant.
Competitive Landscape:
Key players operating in the global central venous catheter market include B. Braun Melsungen AG, Becton, Dickinson and Company, ICU Medical, Inc., Poly Medicure Ltd., Teleflex Incorporated, Lepu Medical Technology Co., Ltd., Cook Group, Insung Medical, VOGT Medical, ZOLL Medical Corporation, EETA Surgical, QMD, and Kimal.
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Market segmentation:
- Global Central Venous Catheter Market, By Product Type:
- Single Lumen Central Venous Catheters
- Double Lumen Ventral Venous Catheters
- Triple Lumen Central Venous Catheters
- Quadruple Lumen Central Venous Catheters
- Global Central Venous Catheter Market, By Placement Site:
- Internal Jugular Vein
- Femoral Vein
- Subclavian Vein
- Global Central Venous Catheter Market, By Application:
- Chemotherapy
- Operating Theater
- Emergency Departments
- ICU’s
- Drugs and Fluid Administration
- Operating Theater
- Emergency Departments
- ICU’s
- Blood Transfusions
- Operating Theater
- Emergency Departments
- ICU’s
- Others
- Operating Theater
- Emergency Departments
- ICU’s
- Chemotherapy
- Global Central Venous Catheter Market, By Location:
- Operating Theater
- Emergency Departments
- ICU’s
- Global Central Venous Catheter Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Country:
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
Related Market Intelligence Reports:
U.S. Central Venous Catheter Market - by Product Type (Peripherally Inserted Central Catheters (PICC), Implantable Ports, Tunneled Central Venous Catheter, and Non-tunneled Central Venous Catheter), by Design (Single Lumen, Double Lumen, and Multi Lumen), by Composition (Polyurethane, Polyethylene, and Silicon), by Procedure (Cardiovascular Procedure, Chemotherapy Procedure, and Dialysis Procedure), and by End User (Hospitals, Ambulatory Surgical Centers, and Specialty Clinics) - Size, Share, Outlook, and Opportunity Analysis, 2018-2026
Antimicrobial Catheter Market, by Catheter Type (Central Venous Catheters (CVCs) and Urinary Catheters), by Material Type (Silver Alloy Catheters and Nitrofural-impregnated Catheters), by End User (Hospitals, Ambulatory Surgical Centers, Clinics, and Others), and by Geography (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis 2018 – 2026
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