Central Venous Catheter Market to expand at a CAGR of 5.1% by 2026
Need for minimal invasive surgeries have been increasing since few years as it reduces the possibilities of postoperative complications. This has led to increasing production sales of central venous catheters across the global market. Rapid increase in the number of cancer patients are likely to drive the production sales of central venous catheters for the purpose of completing chemo processes, which the treatment for cancer much easier. Geriatric population are likely to experience more chronic health conditions, especially chronic kidney diseases, thereby fuelling demand and supply of CVCs. Apart from this, increasing rate of hospitalization and drug administration in the outpatient settings where the patient is in need of IV therapy, stimulates the growth of central venous catheter market.
The National Center for Biotechnology Information is of the point of view that data assessment strategies and quality indicators for the purpose of preventing bloodstream infections with central venous catheter has been developed. Launch of sterile and disposable catheters has unlocked significant growth opportunities for market for central venous catheters as it helps in preventing infections while using catheter Leading players such as AngioDynamics, Inc. has enhanced its Oncology business with the addition of BioScentry technology. This step has been taken as a thoughtful and strategic acquisition, which would help the company in delivering economically favorable, clinically relevant and deliver safer solutions for the improvement of patient outcomes.
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A recent study by Future Market Insights envisages that market for central venous catheter has been anticipated to expand at a steady 5.1% CAGR during 2016 to 2026. Inadequate quality check and high-costs with regards to catheters are key challenges limiting growth of market for central venous catheters, especially in the developing regions such as Middle East, Asia-Pacific and Africa. Non-tunneled central venous catheters is likely to hold the lion’s share in market for central venous catheters as it has been highly beneficial during emergency situations for blood withdrawal purposes. Hospitals contribute towards the maximum usage of central venous catheters owing to increased number of surgical care and quality facilities to its patients.
Polyurethanes are now being preferred over silicon for the production of central venous catheters, in light of the material’s relative compatibility and softness. However, multi-lumen catheters have taken the lead in terms of design, as it helps in reducing the frequency of catheter insertion, thereby enabling multiple drugs to get inserted with a single catheter.
North America is likely to dominate market for central venous catheters during the forecast period. The report says that central venous catheter market in the U.S. is the most profitable market in North America as the region has been witnessing increasing number of FDA approvals for the antimicrobial coated catheters. Asia-Pacific will display significant growth opportunities for market for central venous catheters in the forthcoming years on account of rising number of specialized clinics and hospitals in China and India. Rapidly increasing need for innovative medical technologies is expected to strengthen its position as healthcare hub in APEJ.
Key players and manufacturers in market for central venous catheters have been taking immense efforts in product launches with regards to antimicrobial coated catheters, due to increasing cases of infections thereby stimulating the production sales of the product across the globe. The U.S. FDA (Food and Drug Administration) has approved the antimicrobial coated central venous catheters for preventing bloodstream infections related to catheter.
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Latest technological innovations have resulted in the interventional surgeons, anesthesiologists and radiologists having access to the technologically improved central venous catheters. As a consequence, tip location devices, which helps in accurate and precise location of the catheter’s tip, are gaining increased momentum.. In addition, there have been innovations such as new catheter material compositions, which helps in improving user’s post and pre-catheterization. Antimicrobial coatings, which help in preventing infections and biocompatible materials such as polymer and silicone mixes that are substituting latex materials, are also witnessing high demand in order to reduce the intensity of pain during administration.
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