The global Central Venous Catheter Market is estimated to be valued at US$ 2388.55 Mn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Central Venous Catheters are thin flexible tubes inserted into large veins in the neck, chest or groin to administer medication or fluids and to obtain samples. They provide reliable long term venous access and help deliver continuous or intermittent medications, total parenteral nutrition, blood products and chemotherapy treatments.
Market key trends:
One of the key trends in the Global Central Venous Catheter Market Size is the growing preference for ultrasound guided insertion techniques. The use of real-time ultrasound guidance during catheter insertion enhances safety and efficacy as it allows direct visualization of the vessel and needle tip during placement. Another important trend is the rise in peripherally inserted central catheters (PICCs) which are increasingly preferred over other central venous access devices as they are easier to insert with minimum complications. The demand for antimicrobial catheters is also on the rise due to increasing incidence of hospital acquired infections and the need to minimize such risks during long term use.
SWOT Analysis
Strength: Central venous catheters offer reliable access to the central circulation, enabling delivery of medications, fluids, parenteral nutrition and blood products as well as hemodynamic monitoring. These catheters are less prone to complications compared to other vascular access devices.
Weakness: Central venous catheters are associated with certain risks such as infection, venous thrombosis, pneumothorax and mechanical complications. Improper insertion and maintenance of these devices can lead to serious adverse events.
Opportunity: Rising prevalence of chronic diseases and growing incidence of cancer requiring chemotherapy is expected to drive the demand for central venous catheters for long-term vascular access. In addition, increasing cases of malnutrition needing parenteral nutrition also present an opportunity.
Threats: Risks associated with catheter placement and long-term use act as a major challenge. Stringent regulations pertaining to product approval can also delay product launches. The presence of alternative vascular access devices further intensifies the competition.
Key Takeaways
The global central venous catheter market is expected to witness high growth, exhibiting CAGR of 4.3% over the forecast period, due to increasing prevalence of chronic diseases. North America is expected to dominate the market throughout the forecast period owing to rising cancer incidence and growing geriatric population requiring long-term venous access in the region.
Regional analysis
North America is expected to hold the largest share in the central venous catheter market during the forecast period owing to increasing incidence of chronic conditions such as cancer and sepsis along with rising geriatric population. Asia Pacific is anticipated to exhibit the fastest growth rate in the coming years supported by improving healthcare infrastructure and expanding medical tourism industry in the region.
Key players
Key players operating in the central venous catheter market are B. 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, and Kimal. Major players are focusing on new product launches and geographic expansion to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it