Number of pages: 100 | Report Format: PDF | Published date: April 19, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
Report Attribute |
Details |
Market Size Value in 2022 |
US$ 1.89 billion |
Market Size Value in 2031 |
US$ 3.02 billion |
Growth Rate |
CAGR of 5.38% from 2023 to 2031 |
Base Year for Estimation |
2022 |
Forecast Period |
2023 to 2031 |
Historical Year |
2021 |
Segments Covered |
Type, Material Type, Design, End User, and Region |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global central venous catheters market was valued at US$ 1.89 billion in 2022 and is expected to register a revenue CAGR of 5.38% to reach US$ 3.02 billion by 2031.
Central Venous Catheters Market Fundamentals
Central venous catheters are long, thin tubes inserted into a large vein, typically in the neck, chest, or groin, to provide venous access for various medical treatments, such as intravenous medications, fluids, blood products, and parenteral nutrition. They are commonly used in hospitals, clinics, and other healthcare settings for patients who require long-term or frequent intravenous therapy. The central venous catheters market is driven by factors such as the increasing prevalence of chronic diseases, the growing geriatric population, rising demand for minimally invasive procedures, and technological advancements in catheter design and materials. Additionally, expanding healthcare infrastructure in developing economies and the need for efficient venous access in critically ill patients contribute to the growth of the central venous catheters market.The central venous catheters market is highly competitive, with several key players operating globally. These companies are investing in research and development to introduce technologically advanced central venous catheters and engaging in mergers & acquisitions, collaborations, and partnerships to expand their product portfolios and market presence. It is important to note that the central venous catheters market is subject to regulatory guidelines and standards, such as those issued by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), to ensure patient safety and product quality.
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Central Venous Catheters Market Dynamics
Chronic diseases such as cancer, cardiovascular diseases, and renal failure often require long-term intravenous therapy, including the use of central venous catheters. As the global burden of chronic diseases continues to rise, the demand for CVCs for chemotherapy, parenteral nutrition, and other medications is expected to increase, driving the growth of the global central venous catheters market. The aging population is more susceptible to chronic diseases and may require long-term medical interventions involving central venous catheters. With the global population aging, there is an increasing demand for CVCs for geriatric patients, contributing to the market’s growth. Advancements in catheter design, such as the development of antimicrobial-coated catheters, tunneled catheters, and power-injectable catheters, have improved the safety and efficacy of central venous catheterization. These advancements have reduced complications, improved patient comfort, and increased the adoption of CVCs, driving the market growth. Central venous catheterization is a minimally invasive procedure that offers advantages over traditional intravenous catheterization, such as improved safety, reduced risk of infection, and longer dwell time. As demand for minimally invasive procedures continues to rise, the adoption of central venous catheters is expected to increase, contributing to market growth. Healthcare expenditure has steadily risen worldwide, driven by increasing healthcare awareness, improving healthcare infrastructure, and rising disposable incomes. As a result, more people have access to healthcare resources and services, such as using central venous catheters, causing the market to rise. Patients increasingly receive medical care in the convenience of their homes in home healthcare facilities. Central venous catheters are frequently used in home healthcare settings for patients requiring long-term intravenous therapies. The demand for central venous catheters is anticipated to rise, fueling the market growth. The development of home healthcare settings is likely to be fueled by factors including patient preference, cost-effectiveness, and technological improvements.
However, central venous catheters are associated with risks of complications such as infection, thrombosis, bleeding, and damage to blood vessels or surrounding tissues. These complications can result in increased morbidity, mortality, and healthcare costs. As a result, concerns about patient safety and adverse events may impact the adoption and usage of central venous catheters.
Central venous catheters Market Ecosystem
The global central venous catheters market is analyzed from the following perspectives: type, material type, design, end user, and region.
Central Venous Catheters Market by Type
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Based on type, the global central venous catheters market is segmented into non-tunneled catheters and tunneled catheters.
Non-tunneled catheter segment accounts for the largest revenue share in the global central venous catheters market. A non-tunneled catheter makes it simple to access the bloodstream and enables prompt fluid and medication delivery. Specialized non-tunneled catheters with valve mechanisms may also be used for long-term access to reduce infection and thrombosis-related blood clots associated with catheters. As non-tunneled catheters are used in many different medical treatments, including chemotherapy, dialysis, and critical care, there is a growing market for them.
Central Venous Catheters Market by Material Type
Based on material type, the global central venous catheters market is segmented into silicone, polyurethane, and others.
The silicone segment accounts for the largest revenue share in the global central venous catheters market. Patients may find silicone CVCs more pleasant, attributable to their renown for being soft and flexible. A lesser chance of infection can result from their resistance to bacterial colonization. Patients at risk for allergic reactions or with a history of latex sensitivity often utilize silicone CVCs.
The polyurethane segment is projected to record a high revenue CAGR in the global central venous catheters market. Several healthcare professionals favor polyurethane CVCs due to their resistance to kinking and damage during insertion and use. Also, they are less likely to irritate or inflame the vein lining, reducing the chance of an infection and thrombosis.
Central Venous Catheters Market by Design
Based on the design, the global central venous catheters market is segmented into single lumen, double lumen, and multi lumen.
The double lumen segment accounts for the largest revenue share in the global central venous catheters market. ARF (Acute Renal Failure) treatments are becoming more prevalent in ICUs, promoting overall segment growth. They are frequently utilized in settings requiring multiple medications or treatments, such as in intensive care units (ICUs), for administering chemotherapy, or for patients who need long-term venous access. With fewer catheter placements required, thanks to double lumen catheters, patients may experience less pain and run less risk of problems that come with frequent catheter insertions.
Single lumen central venous catheters, on the other hand, have only one channel and are typically used for simpler infusions or for monitoring central venous pressure. They are generally considered less invasive and may be preferred when only one treatment or therapy is required or when space or anatomical constraints limit using a larger catheter.
Central Venous Catheters Market by End User
Based on end user, the central venous catheters market is segmented into hospitals, long-term facilities care, and others.
The hospitals segment accounted for the largest global central venous catheters market revenue share. This can be due to the increasing prevalence of chronic illnesses and age-related disorders, the availability of cutting-edge medical technology for patients requiring critical care, and the explosive growth of hospitals worldwide.
Central Venous Catheters Market by Region
The global central venous catheters market has been segmented geographically into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounts for the largest global central venous catheter market revenue share. This is due to the high prevalence of chronic diseases, the aging population, and the increasing demand for advanced medical procedures. The market for CVCs in North America has been experiencing steady growth, primarily driven by the increasing adoption of CVCs for various medical conditions such as cancer, cardiovascular diseases, and infectious diseases. Technological advancements in CVCs, such as antimicrobial coatings, valved catheters, and improved insertion techniques, have also contributed to market growth.
Europe accounts for the second-largest revenue share in the global central venous catheters market. The market is growing due to an increase in cardiac and cancer-related disease cases and a well-developed healthcare infrastructure that includes cutting-edge machinery and equipment.
Asia Pacific region is projected to experience steady revenue growth in the coming years. Several factors are contributing to the growth of the CVC market in the Asia Pacific region. First, there is an increasing prevalence of chronic diseases such as cancer, cardiovascular diseases, and renal diseases, which often require long-term venous access to treatments like chemotherapy, hemodialysis, and parenteral nutrition. This is driving the demand for central venous catheters in the region. Second, the growing geriatric population in the Asia Pacific is also fueling the demand for central venous catheters. Older adults often require complex medical care and may need central venous catheters for prolonged treatment or monitoring.
Central venous catheters Market Competitive Landscape
The prominent players operating in the global central venous catheters market are: -
Central venous catheters Market Strategic Developments
The estimated market size of the global central venous catheters market in 2031 is US$ 3.02 billion.
The revenue CAGR for the central venous catheters market is 5.38% during the forecast period.
Becton, Dickinson & Company, B. Braun Melsungen AG, Smiths Medical, Boston Scientific Corporation, Biosensors International Group Ltd., and ConMed Corporation are key players in the central venous catheters market.
The Asia Pacific region is projected to grow at high revenue CAGR in the global central venous catheters market.
Central venous catheters are subject to regulatory requirements, including approvals, certifications, and compliance with standards and guidelines. Changes in regulatory requirements or increased scrutiny on compliance may impact central venous catheter manufacturing, distribution, and usage. Non-compliance or regulatory challenges can result in delays, increased costs, or product recalls, which may impact on the market.
*Insights on financial performance are subject to the availability of information in the public domain