Central Venous Catheters Market
Central Venous Catheters Market
central venous catheter market will witness a robust CAGR of 5.90%, valued at $1.18 billion in 2021, expected to appreciate and reach $1.93 billion by 2028
— Prakash Torase
SUITE N202, NEW YORK, UNITED STATES, January 3, 2023 /EINPresswire.com/ — The global Central Venous Catheters market was worth around USD 1,848.50 billion in 2021 and is estimated to grow to about USD 2607.32528 billion by 2028, with a compound annual growth rate (CAGR) of approximately 5.90 percent over the forecast period. The report analyzes the Central Venous Catheters market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Central Venous Catheters market.
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The market is predicted to develop due to factors such as an increase in the prevalence of cardiovascular illnesses such as atherosclerosis, coronary artery disease, myocardial infarction, and cardiomyopathy, increased awareness of sophisticated technologies, and an increase in the geriatric population. In addition, the market is growing due to an increase in demand for antimicrobial catheters. During the projected period, R&D in the field of surgical equipment is expected to open up new doors. The global central venous catheter market is expected to be driven by expanding acceptance and demand for antimicrobial-coated catheters, rising number of chronic diseases such as cancer, end-stage renal disease, and others, rising geriatric population, and rising usage of tip location devices. Other drivers that are likely to propel the global central venous catheter market include advantageous insurance and reimbursement regulations, technical innovation, and early acceptance of diagnostic methods. Owing to the rise in demand of CVC, the global Central Venous Catheters market is estimated to grow at a CAGR of 5.90% during the forecast period.
CVCs have become more widely used in medical care as a result of technological improvements. Other significant factors include rising cancer, CKD, and cardiovascular disease occurrences. These chronic disorders necessitate the use of central venous catheterisation for therapy. Cancer is currently the second leading cause of death worldwide. CVC is often regarded as the most effective method of giving chemotherapeutic medicines. In order to improve their company’s product portfolio, market players are engaging in inorganic activities such as acquisitions, which is likely to boost the worldwide central venous catheter market throughout the forecast period. Over the projected period, market players are also focusing on expanding their production facilities, which is expected to improve their market share and customer base, and this is expected to fuel growth of the worldwide central venous catheter market.
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The global Central Venous Catheters market is segregated based on product type, Property, Design, Composition and End use. Based on Product type, the global market is distinguished into Tunnelled Catheters and Non-Tunnelled Catheters. The tunnelled catheters segment dominates the market. Based on Property, the market is segmented into Antimicrobial Catheters and Non Antimicrobial Catheters. The Antimicrobial catheter segment is expected to lead over the forecast period. As per design, the market is segmented into Single lumen, double lumen and multi lumen. The multi lumen segment is expected to dominate the market. Based on composition, the market is segmented into Polyurethane, Polyurethane / Poly Carbonate and Silicone. The silicone segment is expected to lead over the forecast period. Based on end use, the market is segregated into Hospitals, Ambulatory Surgical Centres and Specialty Clinics & Others. The hospitals segment is expected to lead over the forecast period.
Due to the sheer rising prevalence of chronic diseases such as end-stage renal disease (ESKD) and cancer in the region, North America is likely to have a prominent position in the worldwide central venous catheter market over the forecast period. The market is being driven by rising hospitalisation rates and increased catheter adoption rates. Socioeconomic factors, such as the growing geriatric population and rising incidences of various chronic diseases, including malignant cancer, are also driving market growth. These factors are driving demand for antimicrobial coated catheters. Due to the large population base, high target patient pool, increasing government initiatives to provide improved healthcare facilities, rising disposable income, and per capita health care expenditure, the central venous catheter market in Asia Pacific is expected to grow at a faster rate.
Key players functioning in the global Central Venous Catheters market include Braun Melsungen AG, Becton, Dickinson and Company, ICU Medical Inc., Poly Medicure Ltd., Teleflex Incorporated, Lepu Medical Technology Co., Ltd., Cook Group, Insung Medical, VOGT Medical, ZOLL Medical Corporation, EETA Surgical, QMD, Kimal and Analyst Views.
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Global Central Venous Catheters market is segmented as follows:
By Product Type
Non Antimicrobial Catheters
Polyurethane / Poly Carbonate
By End Use
Ambulatory Surgical Centers
Specialty Clinics & Others
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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