Central
venous catheters play a major role in modern healthcare, as they
allow easy administration of intravenous fluids, blood products,
medications, and parenteral nutrition, as well as provide
hemodialysis access and hemodynamic monitoring.
The
global central venous catheter market size was valued at US$ 1,167.4
million in 2017, and is expected to exhibit a CAGR of 6.2% over the
forecast period (2018 – 2026).
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Increasing
prevalence of cancer and renal diseases is expected to propel growth
of central venous catheter market
Central
venous catheterization is used for chemotherapy administration, total
parenteral nutrition, administration of intravenous fluids,
administration of blood and platelet transfusions, and other uses.
High prevalence of cancer is expected to propel demand for central
venous catheterization, which in turn is expected to drive the market
growth. According to the World Health Organization (WHO), 2012,
cancer is the second leading cause of morbidity and mortality
worldwide, with around 14 million new cases registered in 2012 and in
2015, cancer was responsible for 8.8 million deaths worldwide.
Moreover, WHO stated that the number of new cases is expected to rise
by around 70% by 2030.
Similarly,
according to the study by University of California, 2014, around 2
million people worldwide are affected by end stage renal disease
(ESRD) and the number of patients diagnosed with the disease is
expected to increase at a rate of 5-7% annually.
Increasing
adoption of central venous catheters in North America is expected to
bolster the market growth
North
America holds dominant position in the global central venous catheter
market, owing to high availability of catheters in medical settings.
According to the survey by PavMed, 2016, around 7 million central
vascular access devices are utilized annually in the U.S., which
includes 400-500,000 implantable ports. Increasing prevalence of
cancer in the region is also expected to boost the market growth.
According to the American Cancer Society, 2017, cancer is the second
most common cause of death in the U.S., which accounts for nearly 1
out of every 4 deaths.
Moreover,
increase in central venous infections is expected to enhance demand
for novel antimicrobial catheters, thereby reducing economic burden
caused due to hospitalization. For instance, according to the
Cincinnati Children’s Hospital Medical Center, 2014, around 250,000
central venous catheter infections occur annually, procuring the
total cost of US$ 7.5- 11 Bn annually to the U.S. healthcare system.
Key
Players
Major
players operating in the global central venous catheter market
include, AngioDynamics, Inc., C. R. Bard, Inc., Teleflex
Incorporated, B. Braun Melsungen AG, Medtronic Plc., Vygon Ltd., Cook
Medical, Inc., Argon Medical Devices, Inc., ICU Medical, Inc., and
Theragenics Corporation.
Detailed
Segmentation:
Global
Central Venous Catheter Market, By Product Type:
-
Peripherally Inserted Central Catheters (PICC)
-
Implantable Ports
-
Tunneled Central Venous Catheter
-
Non-tunneled Central Venous Catheter
Global
Central Venous Catheter Market, By Design:
-
Single Lumen
-
Double Lumen
-
Multiple Lumen
Global
Central Venous Catheter Market, By Composition:
-
Polyurethane
-
Polyethylene
-
Silicon
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