Wilmington, Delaware, United States, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global catheter stabilization devices market is projected to flourish at a CAGR of 6.5% from 2022 to 2031. As per the report published by TMR, a valuation of US$ 2.6 billion is anticipated for the market in 2031. As of 2023, the market for catheter stabilization devices is expected to close at US$ 1.47 billion.
The increasing incidence of chronic diseases such as cardiovascular diseases, diabetes, and urinary tract disorders has led to a growing need for catheter-based interventions, and monitoring drives the demand for catheter stabilization devices. The increasing aging population and rising demand for medical procedures and interventions. Elderly individuals often require catheterization for various medical conditions, boosting the market for catheter stabilization devices.
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Catheter-associated infections are a significant concern in healthcare settings. Catheter stabilization devices can help reduce the risk of infection by minimizing movement and manipulation of catheters, making them an attractive option for healthcare facilities.
The trend toward minimally invasive procedures, which often involve the use of catheters, has been growing. Catheter stabilization devices are essential for maintaining the stability of catheters during these procedures, contributing to the market's growth. The increasing shift towards home healthcare and outpatient settings has created a demand for user-friendly catheter stabilization devices that can be easily managed outside of traditional healthcare facilities.
Key Takeaways from the Market Study
- As of 2022, the catheter stabilization devices market was valued at US$ 1.38 billion
- Based on end-users, the hospitals and ASCs segment is expected to dominate the market during the forecast period, owing to the increase in the number of ASCs in various countries.
- In terms of product type, the CVC stabilization devices segment held the major market share in 2022.
Catheter Stabilization Devices Market: Key Trends and Opportunistic Frontiers
- There is a growing demand for personalized and patient-centric catheter stabilization solutions.
- Manufacturers offer customizable products that cater to individual patient needs and the specific requirements of various medical procedures.
- An increase in the prevalence of lifestyle-associated diseases is fueling the global catheter stabilization devices market. Cardiovascular and ischemic heart diseases are caused due to obesity, lack of physical activity, dyslipidemia, diabetes mellitus, and tobacco smoking.
Catheter Stabilization Devices Market – Regional Analysis
- North America dominated the global catheter stabilization devices market in 2021. The market in the region is projected to grow at a rapid CAGR from 2022 to 2031 due to the increase in the incidence of chronic diseases and the rise in the geriatric population.
- Advanced healthcare infrastructure strongly focuses on patient safety, and regulatory compliance boosts the market demand in the region. The United States healthcare system's robust nature has driven the adoption of catheter stabilization devices.
- Europe is expected to account for the second-largest share of the market during the forecast period. Growth of the market can be ascribed to the increase in the prevalence of cardiovascular diseases in the region.
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Competitive Landscape
The global catheter stabilization devices market is consolidated, with a small number of large companies accounting for most of the share. Companies are investing significantly in R&D activities to enhance their market share for catheter stabilization devices. Expansion of product portfolios and mergers & and acquisitions are key strategies adopted by manufacturers. Transparency Market Research has profiled the following players in its global catheter stabilization devices market report:
- Baxter International Inc.
- B. Braun Melsungen AG
- C. R. Bard, Inc. (Becton, Dickinson and Company)
- 3M Healthcare
- ConvaTec, Inc.
- Smiths Group PLC
- Merit Medical Systems, Inc.
- M. C. Johnson Company, Inc.
- Centurion Medical Products
- TIDI Products LLC
Key Developments in the Catheter Stabilization Devices Market
- Merit Medical Systems, Inc. is known for its catheter stabilization and securement products. The company has contributed to the development of advanced devices that enhance patient safety and healthcare outcomes.
- Deroyal Industries, Inc. manufactures a variety of catheter stabilization devices. Their product offerings focus on patient comfort and safety, contributing to market development.
Catheter Stabilization Devices Market – Key Segments
Product Type
- CVC Stabilization Devices
- PICC Stabilization Devices
- Abdominal Stabilization Devices
- Chest Drainage Tube Stabilization Devices
- Others
End-user
- Hospitals & ASCs
- Diagnostic Centers & Clinics
- Home Care Settings
- Others
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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