Central venous catheters are increasingly being used for the administration of intravenous medications, blood products, total parenteral nutrition, and for hemodynamic monitoring in critically ill patients. These catheters play an important role in chemotherapy, blood sampling, and long-term antibiotic therapy. They provide reliable long-term venous access for the delivery of medications, fluids, nutrition, blood products, and for hemodynamic monitoring in critically ill patients. The growing geriatric population and rising prevalence of chronic diseases such as cancer, blood disorders, and renal diseases has significantly contributed to the increasing demand for central venous catheters in the U.S.
The global U.S central venous catheter market is estimated to be valued at US$ 1 billion in 2024 and is expected to exhibit a CAGR of 19% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends gaining traction in the U.S central venous catheter market growth is the increasing adoption of antimicrobial catheters. Central line-associated bloodstream infections (CLABSIs) continue to pose major challenges in patient care. Antimicrobial catheters impregnated with antibiotics have emerged as an effective strategy to curb CLABSIs. Clinical trials have demonstrated a significant reduction in infection rates with the use of antimicrobial catheters compared to standard catheters. Their ability to release small amounts of antimicrobial agents at the insertion site helps prevent bacterial colonization and biofilm formation on the catheter surface. This significantly lowers the risk of catheter-related bloodstream infections. Hence, major players are focusing on developing advanced antimicrobial catheters to improve patient outcomes and strengthen their market position.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as setting up a business in medical device industry requires significant investment capital and compliance with stringent regulatory requirements.
Bargaining power of buyers: The bargaining power of buyers is moderate since there are several established players offering central venous catheters. However, factors like need for healthcare and availability of medical reimbursements strengthens the buyers position.
Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of substitute raw materials and parts. However, compliance requirements for medical devices keeps suppliers in a stronger position.
Threat of new substitutes: The threat of new substitutes is low as newer technologies for central line insertion are emerging slowly with high compliance standards.
Competitive rivalry: The competitive rivalry is high among existing players due to their global presence and focus on product innovation.
Key Takeaways
U.S. Central Venous Catheter Market Size is expected to witness high growth over the forecast period. The growing geriatric population, increasing prevalence of chronic diseases, and rising number of surgical procedures drive the market growth.
The Western region dominates the U.S. central venous catheter market currently due to high healthcare expenditure and supportive reimbursement policies. However, the Southern region is anticipated to grow at highest CAGR during the analysis period owing to raising awareness about treatment options and developing healthcare infrastructure.
Key players operating in the U.S. central venous catheter market are BD, Teleflex Incorporated, ICU Medical Inc., B. Braun Melsungen AG, Argon Medical Devices, and Cook Medical. The established market players focus on strengthening their product portfolio through partnerships, mergers, acquisitions, and new product launches. They also put continuous efforts on technological advancements to offer innovative and improved central venous catheters.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it