NEWARK, Del, Oct. 19, 2023 (GLOBE NEWSWIRE) -- The central venous catheter market size is anticipated to surpass US$ 3,238.1 million in 2023 and is likely to attain a valuation of US$ 5,314.5 million by 2033. The central venous catheter market share is projected to thrive at a CAGR of 5.1% from 2023 to 2033.
The central venous catheter industry has advanced significantly with the introduction of "smart" catheters, which combine conventional vascular access with modern technology and communication. With sensors, microprocessors, and communication capabilities, these cutting-edge medical gadgets can monitor and manage the catheter and the patient's status in real time. Smart catheters' incorporation of technology and sensors improves patient safety. These catheters may spot problems like malpositioning or catheter occlusion, which lowers the risk of complications, including catheter-related bloodstream infections (CRBSIs), and promotes their demand in the market.
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Patients who are unable to get enough nutrition through oral or enteral means require parenteral nutrition, which is the intravenous injection of nutrients. This includes individuals with severe gastrointestinal conditions, cancer patients receiving treatment, and individuals who have just undergone surgery. The need for central venous catheters to support parenteral nutrition therapy is growing as individuals become more aware of nutrition's importance for patient recovery and general health.
Key Takeaways from the Central Venous Catheter Market Report:
- In 2018, the global market size stood at US$ 2,446.9 million.
- The market grew at a 4.7% CAGR from 2018 to 2022.
- In 2022, the global market size stood at US$ 3,074.7 million.
- In 2022, the non-anti-microbial catheter segment garnered 75.7% of the central venous catheter market shares.
- In 2022, the double-lumen segment gained 63.6% of the central venous catheter market shares.
- In 2022, the hospitals segment garnered 60.3% of the central venous catheter market shares.
- The United Kingdom’s central venous catheter market will develop at a CAGR of 9.0% through 2033.
- Germany’s central venous catheter market will rise at a 3.3% CAGR through 2033.
- Australia’s central venous catheter market growth will thrive at a 5.1% CAGR through 2033.
Recent Developments of the Central Venous Catheter Market Observed by FMI:
- Coloplast unveiled a novel catheter in the United States in January 2023. Those with bladders and urine problems intend the SpeediCath Flex Set catheter for use. Triple Action Coating Technology is a feature on all SpeediCath catheters designed to reduce the risk of urethral damage and urinary tract infections (UTIs) for patients with spinal cord injuries (SCI).
- Braun Medical Inc. (B. Braun), a pioneer in infusion therapy, announced the launch of its new Introcan Safety 2 IV Catheter with one-time blood control in July 2022. The Introcan Safety 2 IV Catheter, the newest invention from B. Braun, makes IV access safer for the clinician by reducing the risk of blood exposure and needlestick accidents.
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Note from the Analysts:
The CVC market is expected to grow as healthcare professionals strive to fulfill patients' changing expectations and enhance clinical results. Central venous catheters are maturing into essential instruments in contemporary healthcare due to the convergence of cutting-edge technology, patient-centric design, and infection control measures. A dedication to innovation, regulatory compliance, and the search for cost-effective solutions for patients and healthcare systems underpin the market's growth trajectory,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Top 15 Key Players in the Central Venous Catheter Market:
- Angio Dynamics
- C.R. Bard
- Teleflex Incorporated
- B. Braun Melsungen AG
- Kimal Healthcare
- Come B.V.
- Medtronic Plc
- Smiths Medical
- Vygon (UK) Ltd.
- Becton, Dickinson, and Company
- Argon Medical Devices Inc.
- Boston Scientific Corporation
- Cook Medical Incorporated
- Medical Components Inc.
- Fresenius Kabi AG
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Central Venous Catheter Market Segmentation:
By Product:
- Dialysis Catheters
- Acute Hemodialysis Catheter
- Chronic Hemodialysis Catheter
- Peritoneal Dialysis Catheter
- PICC Catheters
- Implantable Port
- CVC Catheters
- Tunneled Catheters
- Non-tunneled Catheters
By Property:
- Anti-microbial Catheter
- Non-Anti-Microbial Catheter
By Design:
- Single Lumen
- Double Lumen
- Multiple Lumen
By End-user:
- Hospitals
- Ambulatory Surgical Centers
- Dialysis Centers
- Specialty Clinics
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
Have a Look at Related Reports Covered in the Healthcare Domain:
- Catheter Market size is expected to reach US$ 12,591.3 million in 2023. It is anticipated to witness a CAGR of 6.3% in the forecast period from 2023 to 2033.
- Stent Graft Balloon Catheter Market was valued at US$ 915.92 Mn, accounting for around 3.5% of the entire catheter market. Sales of stent graft balloon catheters are expected to grow at a 7% CAGR to reach a valuation of US$ 1801.75 Mn by 2032.
- Micro Guide Catheters Market is projected to advance at a moderate pace with a CAGR of 5.6% during the forecast period 2022 to 2032.
- Infection Control Market is Expanding at a CAGR of 6.5%, the market is projected to increase from a valuation of US$ 201.4 Bn in 2021 to US$ 396.4 Bn by 2032.
- Continuous Peripheral Nerve Block Catheter Market is slated to be valued at US$ 585.6 million in 2023. The continuous peripheral nerve block catheter market is expected to reach US$ 1,058.6 million by 2033.
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