The latest market report published by Credence Research, Inc. the global intravascular catheters market was valued at US$ 4,034.7 million in 2018 and is expected to reach US$ 8,051.7 million by 2027, increasing by 8.0 per cent to CAGR from 2019 to 2027.
According to research provided by the World Health Organization (WHO), around 56.9 million people worldwide died in 2016, 71% of them due to non-communicable diseases and the rest due to communicable diseases. Rising public health awareness and proactive government policies to provide optimum healthcare services to citizens drive market growth for intravascular catheters.
Browse the full report at “Intravascular Catheters Market”
Short PIVC holds the largest market for intravascular catheters in the product segment. The inherent characteristics associated with it, which increase its demand among healthcare professionals, are low-cost and easy-to-insert techniques required at recommended sites, such as antecubital veins and wrist, etc. The limitations associated with short PIVC are the occurrence of phlebitis and catheter dislocation due to frequent movement of the inserted needle in the blood veins. Integrated PIVC is increasing demand due to its inherent characteristics, such as the advanced stabilization framework, which reduces the movement of inserted catheters and significantly reduces the incidence of catheter-associated bloodstream infection (CABSI).
The other segment of applications dominates the market for intravascular catheters. The primary reasons for its supremacy in the application segment are a significant increase in the number of trauma cases due to accidents and an increase in the prevalence of cardiovascular complications requiring immediate surgery. 31 per cent of global deaths due to cardiovascular diseases are due to lack of early surgery. Infectious diseases will have a huge impact in the near future due to the increasing prevalence of hospital-acquired infections and the increase in bacterial infections in tropical and subtropical countries.
North America is a clear market leader in the global market for intravascular catheters with a market share of 32 per cent. The increasing prevalence of hospital-acquired infection and the existence of sophisticated healthcare facilities together are driving market growth in the North American region. Affordable reimbursement scenario for intravascular catheters further triggers market growth in the region. Europe’s share is 30% on the basis of the favorable reimbursement scenario provided by the European Medical Agency (EMA). Existence of key players such as Coloplast A / S, Gettinge AB, Medtronic, Plc. A further boost to market growth in the European region. Asia Pacific is currently projecting 20% market share owing to rise in medical tourism and increasing demand for minimal surgical procedures utilizing intravascular catheters in ambulatory surgical centers.
Medical device manufacturers providing intravascular catheters are Boston Scientific Corporation, Terumo Corporation, Medtronic, Plc., Getinge AB, Cook Medical, Johnson & Johnson, C.R.Bard, Inc., McKesson Medical Surgical, Inc., Edwards, Life Sciences Corporation and Coloplast A/S.
Key Market Movements:
- Significant rise in the number of surgeries performed for patients receiving treatment of chronic diseases in hospitals
- Increasing demand for minimal invasive surgical procedures utilizing catheters in ambulatory surgical centers
- Supportive regulatory environment catered for intravascular catheters by regulatory agencies worldwide
Report Scope by Segments
By Product Type
- Integrated PIVC
- Short PIVC
By Application Type
- Renal Disease
- Infectious Disease
By Geography Segment
- North America (U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of the World (Middle East & Africa, Latin America)