Global Vascular Access Catheters Market Expand at 5.5 % CAGR in 2017- 2027

Albany, USA, 2017-Dec-11 — /EPR Network/ —A new report added to the repository of Market Research Reports Search Engine “Vascular Access Catheters Market: PICC Most Preferred Product Type during the Forecast Period: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027)” is a comprehensive repository of information, providing market share, size, and forecast.

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Complications associated with central venous catheterisation procedures and higher cost of antimicrobial coated catheters hamper the growth of the global vascular access catheters market

Significant risks and complications are associated with central venous catheterization procedures which can lead to mechanical complications such as bleeding, damage to blood vessel, arterial puncture, hematoma, and pneumothorax. Other infectious complications include infection at the insertion site of the catheter, contamination of the catheter, and haematogenous seeding of the catheter. Increasing awareness regarding complications associated with catheterization procedures and increasing apprehension regarding the risk of infection results in low preference and reluctance for catheterization procedures for chemotherapy by patients which in turn restrains revenue growth of the vascular access catheters market to a certain extent.

High costs of femtosecond laser systems adversely affects its adoption in emerging economies. The average cost of an antimicrobial coated catheter is four times more than the cost of normal catheters without coating. This exorbitant pricing ultimately reflects in the overall surgical procedure in CCU and ICU. Thus, majority of the surgeons, anaesthesiologists, and radiologists prefer non antimicrobial coated catheters to minimize the cost of surgery, depending on the patient’s socioeconomic status in the emerging economies. Therefore, high cost of antimicrobial catheters is expected to hamper growth of the global vascular access catheters market over the forecast period.

The use of conventional PICCs involves high risk of blood stream infection due to lack of extreme hygiene condition required at the PICC insertion point, which reduces its feasibility over a longer period of time. This infection further extends from the point of PICC insertion into the blood stream. Moreover, PICC insertion is an extremely skilled task, as the tip of the PICC needs to reach the brachial vein, cephalic vein or basilic vein, and then it is supposed to move toward the heart passing through larger veins, until the tip reaches the cavoatrial junction or superior vena cava. The process needs to be carried out using ultrasound in order to keep the track of the tip of the PICC for correct insertion.

Increased usage of midline catheters hampering growth revenue of PICC. Development of a Manageable Geriatric Assessment for General Practice Use (MAGIC) is a set of guidelines that recommends the usage of appropriate vascular access devices. One of the recent application of the MAGIC assessment tool has shown 35 percent decline in monthly PICC insertions in comparison to CVCs.

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PICC product type segment dominates the global vascular access catheters throughout the projected period

PICC product type segment dominated the vascular access catheters market in revenue terms in 2016, and the trend is projected to continue throughout the forecast period. PICC is expected to be the most lucrative among product types with attractiveness index of 1.2. PICC segment is likely to record highest Compound Annual Growth Rate of 6.7% during the projected period of 10- years. This segment is expected to be valued more than US$ 1,360 Mn by the end of 2027.

Global vascular access catheters market overview

Global vascular access catheters market is likely to expand at 5.5 % CAGR throughout the assessed period. The market is anticipated to value more than US$ 2,360 Mn in 2017 and in 2027 it will grow and is projected to value at more than US$ 4,000 Mn by 2027 end. Absolute $ opportunity is usually overlooked when analysts forecasts the market but, it is critical in assessing the level of opportunity that an enterprise can look to achieve, as well as to identify potential resources from both a sales and delivery perspective.

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