Sales Revenue of Continuous Peripheral Nerve Block Catheter to escalate in the Coming Years Owing to Changes in Market Dynamics During COVID-19 Pandemic

In this pandemic situation the World economy will go on recession, in this condition how “Continuous Peripheral Nerve Block Catheter Market” is running , their growth, market emerging and market nature, XploreMR provides useful insights on the competitive landscape and key player strategies in a new study titled “Continuous Peripheral Nerve Block Catheter Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)

Global continuous peripheral nerve block catheter market: Migration from opioids to multimodal analgesia is expected to drive market growth over 2017–2027

Introduction

Continuous peripheral nerve block catheter are used to perform a nerve block procedure for pain management. A continuous peripheral nerve block (CPNB) also known as perineural local anaesthetic infusion is a procedure majorly performed in hospitals and ambulatory surgical centres where percutaneous insertion of catheter, adjacent to a peripheral nerve is performed for administration of anaesthesia via the catheter. CPNB analgesia can be continued outside the hospital setting.

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The global continuous peripheral nerve block catheter market is estimated to be valued at US$ 742.7 Mn by 2027 end, due to increasing adoption of continuous peripheral nerve block catheter especially in hospitals; as a result of increased precision of catheter placement and lower cost as compared to alternative methods used for administration of analgesia. The global market is projected to rise at a CAGR of 6.1% during the forecast period.

Market Dynamics

Increasing prevalence of chronic diseases, such as osteoarthritis, is leading to the rise in upper/lower extremity joint replacement procedures. CPNB is used for administration of analgesia and post joint replacement procedures for pain management. These factors are expected to fuel revenue growth of the continuous peripheral nerve block catheter market globally over the forecast period. Cost effectiveness offered by continuous peripheral nerve block catheter and reduced hospital stay is further fueling revenue growth of the continuous peripheral nerve block catheter market. Factors such as lack of standard usage guidelines and trained professionals for placement of continuous peripheral nerve block catheter and complications associated with the device are expected to hamper growth of the global continuous peripheral nerve block catheter market. Major trends in the continuous peripheral nerve block catheter market include product modifications and innovations, strategic marketing campaigns and partnerships and acquisitions to increase consumer base. Macroeconomic factors such as high unmet patient needs, government reimbursement plans, and strengthening of distribution network by key players in the continuous peripheral nerve block catheter market is another factor that is going to drive the market in future.

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On the basis of product type, the continuous peripheral nerve block catheter market is segmented into stimulating catheter system, non-stimulating catheter system and over the needle catheter system. In terms of value, the non-stimulating catheter system segment is expected to account for the maximum share of the global continuous peripheral nerve block catheter market over the forecast period. In terms of volume, the non-stimulating catheter system segment is expected to dominate the global continuous peripheral nerve block catheter market throughout the forecast period. In 2017, the non-stimulating catheter segment was valued at about US$ 232 Mn and is estimated to reach a valuation of more than US$ 430 Mn by the end of the year of assessment (2027). This segment is expected to grow at a rapid pace to surpass other product type segments and register a high CAGR of 6.4% throughout the forecast period. On the other hand, the over the needle catheter system segment is expected to register lower CAGR as compared to other segments over the forecast period, in terms of value. This segment is the lowest in terms of market valuation.

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