Impact of Covid-19 on Catheter Securement Devices Market to Reflect Significant Growth During 2020–2027 | CAGR of 7.1%
: New York, United States, 21-July-2020, (Via WiredRelease), (Reports and Data) – The global catheter securement devices market is forecast to reach USD 1.74 Billion by 2027, according to a new report by Reports and Data. Catheter Securement Devices can be defined as medical devices that are used for holding catheters in a specific position. It is useful in reducing the discomfort associated with continuous displacement of catheters among care users. Various factors are supporting the growth of the market. One of the mentionable factors in this regards being, constant rise in lifestyle diseases like cardiovascular conditions, associated hospitalization for cardiovascular procedures, in developed as well as developing regions.
In addition to that, a continuous increase in the use of urinary catheters can be noticed among long-term care (LTC) facilities and acute care hospitals. In this regards, it is mentionable here that, continuous rise in geriatric population and associated increased demand for long-term care in chronic conditions, is supporting the market growth. On average, every year, more than 5 million patients require urinary catheters in long-term care (LTC) facilities and acute care hospitals.
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The COVID-19 impact:
Covid-19’s spread has affected manufacturing and construction activities worldwide. Logistic limitations and reconsiderations of the raw material requirements are becoming a problem for producers. The producers have relied on derived demand as an intermediate commodity to rationalize production. The pandemic’s economic impact on companies and financial markets is also not favorable. Stock market volatility and decreasing global growth are anticipated, which will affect the market. The market has experienced a downturn over the weeks, which may continue over the next few months. The Asia Pacific is the most affected region by this pandemic, with China at the center of the outbreak. Most initiatives in multiple countries have changed to a temporary halt. Development, as well as supply, is put on hold, creating losses for suppliers, dealers and customers alike.
Key participants include
B Braun Melsungen AG, 3M Company, C.R. Bard (Becton Dickinson and Company), Baxter International, Convatec, Inc, Centurion Medical Products (Medline), Merit Medical Systems Inc., Mc Johnson Company Inc., Smiths Group PLC and Cardinal Health, Inc.
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For the purpose of this report, Reports and Data have segmented into the global Catheter Securement Devices market on the basis of type, propellants, application, and region:
Product Type Outlook (Revenue, USD Billion; 2016-2027)
Central Venous Catheter Securement Devices
Arterial Securement Devices
Urinary Catheters Securement Devices
Peripheral Securement Devices
Chest Drainage Tube Securement Devices
End-user Outlook (Revenue, USD Billion; 2016-2027)
Diagnostic Imaging Centers
Application Outlook (Revenue, USD Billion; 2016-2027)
Gastric and Oropharyngeal Procedures
Regional Outlook (Revenue, USD Million; 2017-2027)
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Key aspects of the Catheter Securement Devices Market Report:
The report comprises of Catheter Securement Devices market overview, market share, demand and supply ratio, supply chain analysis, and import/export details.
The report explores different strategies and procedures undertaken by key market players that assist in making profitable decisions.
The report covers all the crucial information about the products and services of major competitors.
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