Central Venous Catheters - Market Insights, Competitive Landscape, and Market Forecast - 2030

Central venous catheters market by product type (tunneled central venous catheters and non-tunneled central venous catheters), by design (single lumen central venous catheters, double lumen central venous catheters, and multiple central venous catheters), by placement site (internal jugular vein, femoral vein, and subclavian vein) by end-user (hosptials and clinics, ambulatory surgical centers, and others) by geography is estimated to register growth at a remarkable CAGR forecast during 2022-2027 owing to surge in prevalence of chronic diseases and rising number of blood transfusions.

The global central venous catheters market was valued at USD 2.73 billion in 2021, growing at a CAGR of 6.85% during the forecast period from 2022 to 2027 to reach USD 4.04 billion by 2027. The central venous catheters market is slated to witness prosperity owing to factors such as growing prevalence of chronic diseases such as cancer, cardiovascular and kidney diseases among others, increasing sedentary lifestyle, rising number of blood transfusions, and rising number of technological advancements with respect to the products are further expected to result in the appreciable revenue growth in the central venous catheters market during the forecast period (2022-2027).

CENTRAL VENOUS CATHETERS MARKET DYNAMICS:

One of the noteworthy drivers of the central venous catheters market is the rising prevalence of chronic diseases such as cancer, cardiovascular, and kidney diseases among others.

The increasing prevalence of cardiovascular disorders such as heart failure and stroke worldwide due to various factors such as, age, obesity, and others are anticipated to bolster the market. For instance, according to World Health Organization (WHO) 2021, in 2019, cardiovascular diseases (CVDs) was one of the leading cause of death globally. It was estimated that around 17.9 million people died from CVDs in 2019, representing 32% of all global deaths. This indicates the growing need of cardiac surgeries to decrease the mortality rates, further leading to increase in the usage and demand of central venous catheters, positively impacting its market.

The rise in the prevalence of different cancer types where central venous catheters are largely used for providing chemotherapy, and other drugs to patients is going to positively impact the central venous catheters market. As per the data cited by the World Health Organization 2022, worldwide around 2.26 million cases of breast, 2.21 million cases of lung, 1.93 million cases colon and rectum, 1.41 million cases of prostate, and 1.09 million cases stomach cancer were reported in year 2020.

Moreover, the rising burden of the geriatric patients may increase the prevalence of chronic disorders as age is one of the risk factor for most of the chronic ailments including cancer, cardiovascular, and others. For instance, according to WHO 2021, by 2030, one in six people in the world will be aged 60 years or over. By 2050, the world's population of people aged 60 years and older will double (2.1 billion). Thus, the increasing number of geriatric patients globally, may increase the demand of the central venous catheters market during the forecast period.

However, rising number of central venous catheter recalls and infections that are associated with central venous catheters market may act as restraining factors to the central venous catheters market growth.

The central venous catheters market reported a short period of restraint in market growth due to the implementation of lockdown as necessary measures to stop the spread of the COVID- 19 infection. The COVID- 19 pandemic resulted in the massive reorganization of the healthcare services and carrying out medical procedures. Many countries segregated medical procedures based on the need for urgent medical care in order to streamline the workflow during the COVID-19 crisis and saw various medical procedures including cardiovascular and other surgeries, chemotherapy sessions, and others considered elective being suspended, therefore leading to decline in the market. However, with the resumption of activities across industries including the healthcare sector, it has been uplifting for the central venous catheters market during the forecast period from 2022-2027.

CENTRAL VENOUS CATHETERS MARKET SEGMENT ANALYSIS:

Central venous catheters market by Product Type (Tunneled Central Venous Catheters and Non-Tunneled Central Venous Catheters), Design (Single Lumen Central Venous Catheters, Double Lumen Central Venous Catheters, and Multiple Central Venous Catheters), Placement Site (Internal Jugular Vein, Femoral Vein, and Subclavian Vein) End-User (Hospitals and Clinics, Ambulatory Surgical Centers, and Others) Geography (North America, Europe, Asia-Pacific, and Rest of the World).

Based on the product type segment of the central venous catheters market, the tunneled central venous catheters is projected to register a significant growth in revenue in the central venous catheters market during the forecast period (2022-2027).

This can be attributed to the multiple applications and advantages associated with the tunneled central venous catheters. Some of the major advantages of tunneled central venous catheters include its universal applicability as it is functional in nearly 100% of patients, and it can be inserted at multiple sites among others.

Also, these catheters are passed under the skin to a separate exit point which stabilizes them and make them advantageous for the long term therapies such as in case of providing long-term intravenous access for parenteral nutrition, fluid resuscitation, antibiotics, chemotherapy, and hemodialysis. Moreover, patients can continue to receive intravenous therapy upon their discharge from the hospital even after the placement of tunneled catheters for weeks to months.

Tunneled central venous catheters are known to be very secure in the vein, and can be utilized for giving IV therapy in an easier manner, thus reduces discomfort in patients and increases its acceptability.

These catheter also prevents other complications such as burning sensation, and others that happen while getting drugs by other IV methods.

Hence, owing to the various advantages associated with tunneled central venous catheters and its application in multiple indications, the product category is expected to witness a considerable growth eventually contributing to the overall growth of the global central venous catheters market during the forecast period.

NORTH AMERICA IS EXPECTED TO DOMINATE THE OVERALL CENTRAL VENOUS CATHETERS MARKET:

Among all the regions, North America is expected to lead in revenue generation in the global central venous catheters market. This can be ascribed to the rising prevalence of different cancer types, rise in blood transfusion, and the rising approvals and launch of central venous catheters, particularly in the United States.

One of the key supporting factors for the growth of the North America central venous catheters market is the increasing prevalence of cancers in the United States. As per the figures mentioned by the American Cancer Society 2021, it was estimated that 1.9 million new cancer cases have been diagnosed in the United States in the year 2021. Also, according to the data provided by the Centers for Disease Control and Prevention (CDC) 2021, around 1,752,735 new cases of cancer were reported in the US in 2019.

Also, the rising cases of kidney diseases in the region is likely to increase the market growth for central venous catheters. As per the Centers for Disease Control and Prevention (CDC) 2022, around 37 million people have chronic kidney disease (CKD) in the US. The central venous catheters are used for the purpose of haemodialysis (HD) access.

Another important factor responsible for accelerating the US central venous catheters market is the rise in life saving blood transfusion procedures. For instance, according to the Centers for Disease Control and Prevention 2020, there are around 13.2 million blood donors in the United States, which results in a total of 17.2 million transfused blood product units per year.

Therefore, with the presence of large patient pool and major key players of central venous catheters market in the country, the demand for central venous catheters market is going to increase during the forecast period.

CENTRAL VENOUS CATHETERS MARKET KEY PLAYERS:

Some of the key market players operating in the central venous catheters market includes B. Braun Melsungen AG, ZOLL Medical Corporation, VOGT Medical, Insung Medical, Cook Group, Lepu Medical Technology Co., Ltd, Teleflex Incorporated, Poly Medicure Ltd., ICU Medical Inc., Becton, Dickinson and Company, Edwards Lifesciences Corporation, Vygon, Kimal, Medline Industries, LP, Medical Components, Inc., Medtronic, Prunus Medical, Merit Medical Systems, SCW Medicath Ltd, Prodimed, and others.

RECENT DEVELOPMENTAL ACTIVITIES IN CENTRAL VENOUS CATHETERS MARKET:

• In March 2022, CorMedix Inc., announced that the resubmission of the New Drug Application (NDA) of DefenCath has been accepted for filing by the U.S. Food and Drug Administration (FDA). DefenCath is indicated for the reduction of catheter-related bloodstream infections (CRBSIs) in patients with renal failure who are receiving chronic hemodialysis via a central venous catheter.
• In February 2021, Piccolo Medical received the US FDA clearance of its SmartPICC™ System which is used for navigating the positioning of peripherally inserted central catheters.
• In March 2020, Access Vascular, Inc. received the US Food and Drug Administration (FDA) clearance for the second generation of its HydroPICCTM peripherally inserted central catheter (PICC).

KEY TAKEAWAYS FROM THE CENTRAL VENOUS CATHETERS MARKET REPORT STUDY

• Market size analysis for current central venous catheters market size (2021), and market forecast for 5 years (2022-2027)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the central venous catheters market.
• Top key product/services/technology developments, mergers, acquisitions, partnerships, joint ventures happened for last 3 years
• Key companies dominating the global central venous catheters market.
• Various opportunities available for the other competitor in the central venous catheters market space.
• What are the top performing segments in 2021? How these segments will perform in 2027.
• Which is the top-performing regions and countries in the current central venous catheters market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for central venous catheters market growth in the coming future?

TARGET AUDIENCE WHO CAN BE BENEFITED FROM THIS CENTRAL VENOUS CATHETERS MARKET REPORT STUDY

• Central venous catheters providers
• Research organizations and consulting companies
• Central venous catheters-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in central venous catheters.
• Various end users who want to know more about the central venous catheters market and latest technological developments in the central venous catheters market.

FREQUENTLY ASKED QUESTIONS FOR CENTRAL VENOUS CATHETERS MARKET:

1. What are central venous catheters?

Central venous catheters is basically a long, soft, thin, hollow tube that is placed in a large (central) vein in the neck, upper chest or groin region and is used for the delivery of IV medications over a longer period of time.

2. What is the market for the global central venous catheters?

The global central venous catheters market was valued at USD 2.73 billion in 2021, growing at a CAGR of 6.85% during the forecast period from 2022 to 2027 to reach USD 4.04 billion by 2027.

3. What are the drivers for the global central venous catheters market?

The central venous catheters market is slated to witness prosperity owing to factors such as growing prevalence of chronic diseases such as cancer, cardiovascular, and kidney diseases among others, increasing sedentary lifestyle, growing aging population base which is susceptible to the development of multiple diseases, and the growing focus on improving the safety and usability of central venous catheters for end users are further expected to result in the appreciable revenue growth in the central venous catheters market during the forecast period (2022-2027).

4. Who are the key players operating in the global central venous catheters market?

Some of the key market players operating in the central venous catheters market includes B. Braun Melsungen AG, ZOLL Medical Corporation, VOGT Medical, Insung Medical, Cook Group, Lepu Medical Technology Co., Ltd, Teleflex Incorporated, Poly Medicure Ltd., ICU Medical Inc., Becton, Dickinson and Company, Edwards Lifesciences Corporation, Vygon, Kimal, Medline Industries, LP, Medical Components, Inc., Medtronic, Prunus Medical, Merit Medical Systems, SCW Medicath Ltd, Prodimed, and others.

5. Which region has the highest share in the central venous catheters market?

North America is expected to dominate the overall central venous catheters market during the forecast period, 2022 to 2027. This can be ascribed to the presence of large patient pool associated with cancer, kidney, and other diseases, increase in blood transfusion, high consumer awareness regarding new market launches and a highly potent market in terms of product development and launches, and the local presence of key market players among other factors in the region.


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