Global Central Venous Catheter Market Poised for Growth, Driven by Reach US$ 5,314.5 Million by 2033

Posted on 2024-03-20 by Future Market Insights in Healthcare, Pharmaceuticals // 0 Comments

Central Venous Catheter Market

The Global central venous catheters market is on track for significant expansion, with a projected valuation exceeding US$ 5,314.5 million by 2033. This signifies a substantial increase from the anticipated US$ 3,238.1 million in 2023, reflecting a steady Compound Annual Growth Rate (CAGR) of 5.1%.

A Market Transformed by Innovation

A key driver of this growth is the introduction of “smart” catheters. These advanced medical devices integrate traditional vascular access with cutting-edge technology and communication capabilities. Here’s how smart catheters are revolutionizing the market:

Enhanced Patient Safety: Equipped with sensors, microprocessors, and communication features, smart catheters enable real-time monitoring and management of both the catheter and the patient’s condition.
Advanced Catheter Monitoring: Sensors within these smart catheters can detect potential issues like malpositioning or occlusion, allowing for early intervention and reducing the risk of complications.
Reduced Catheter-Related Bloodstream Infections (CRBSIs): By facilitating early detection of problems, smart catheters can minimize the risk of CRBSIs, a major concern in healthcare settings.

The incorporation of technology and sensors in smart catheters is not only improving patient safety but also fueling demand within the central venous catheter market.

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Parenteral nutrition, or intravenous infusion of nutrients, is necessary for patients who are not able to acquire enough nutrients through oral or enteral means. This includes people who have had surgery, are having treatment for cancer, or have serious gastrointestinal disorders. As people become more conscious of the significance of nutrition for patient recovery and overall health, there is an increasing need for central venous catheters to facilitate parenteral nutrition therapy.

Key Takeaways from the Central Venous Catheter Market Report:

In 2018, the global market size stood at US$ 2,446.9 million.
The market size developed at a 4.7% CAGR from 2018 to 2022.
In 2022, the global market size stood at US$ 3,074.7 million.
In 2022, the non-anti-microbial catheter segment garnered 75.7% of the central venous catheter market shares.
In 2022, the double lumen segment gained 63.6% of the central venous catheter market shares.
In 2022, the hospitals segment garnered 60.3% of the central venous catheter market shares.
The United Kingdom’s central venous catheter market will develop at a CAGR of 9.0% through 2033.
Germany’s central venous catheter market will rise at a 3.3% CAGR through 2033.
Australia’s central venous catheter market growth will thrive at a 5.1% CAGR through 2033.

Recent Developments Observed by FMI:

Coloplast unveiled a novel catheter in the United States in January 2023. The SpeediCath Flex Set catheter is intended for use by those with bladders and urine problems. Triple Action Coating Technology is a feature on all SpeediCath catheters designed to reduce the risk of urethral damage and urinary tract infections (UTIs) for patients with spinal cord injuries (SCI).
Braun Medical Inc. (B. Braun), a pioneer in infusion therapy, announced the launch of its new Introcan Safety 2 IV Catheter with one-time blood control in July 2022. The Introcan Safety 2 IV Catheter, the newest invention from B. Braun, makes IV access safer for the clinician by reducing the risk of blood exposure and needlestick accidents.

The CVC market is expected to continue growing as healthcare professionals strive to fulfill patients’ changing expectations and enhance clinical results. Central venous catheters are maturing into essential instruments in contemporary healthcare due to the convergence of cutting-edge technology, patient-centric design, and infection control measures. A dedication to innovation, regulatory compliance, and the search for cost-effective solutions for patients and healthcare systems underpin the market’s growth trajectory,” says an FMI analyst.

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Competitive Landscape

A blend of international and regional businesses defines the central venous catheter (CVC) market’s competitive environment. Prominent multinational corporations with sizable market shares include Becton, Dickinson and Company (BD), Teleflex Inc., and C.R. Bard (now acquired by BD). These market leaders use their vast product portfolios, well-developed distribution systems, and strong R&D departments to keep a competitive edge.

Regional players are essential to supplying local markets at the same time. They frequently concentrate on specialized markets, personalization, and affordable fixes while taking into account particular regional tastes and healthcare needs. Global and regional firms frequently use partnerships, mergers, and acquisitions to increase their market share, gain access to new technology, and improve their product offerings.

Recent Developments

In January 2023, Coloplast introduced a new catheter in the United States. People with bladder and urine issues are the target market for the SpeediCath Flex Set catheter. All SpeediCath catheters have Triple Action Coating Technology, a choice for people with spinal cord injuries (SCI) and intended to lower the risk of urethral injury and urinary tract infections (UTIs).
A pioneer in infusion therapy, B. Braun Medical Inc. (B. Braun) announced the introduction of its new Introcan Safety 2 IV Catheter with one-time blood control in July 2022. The newest innovation from B. Braun makes IV access safer for the clinician by lowering the possibility of needlestick injuries and exposure to blood with the Introcan Safety 2 IV Catheter.

Key Players in the Central Venous Catheter Market:

Angio Dynamics
C.R. Bard
Teleflex Incorporated
B. Braun Melsungen AG
Kimal Healthcare
Come B.V.
Medtronic Plc
Smiths Medical
Vygon (UK) Ltd.
Becton, Dickinson, and Company
Argon Medical Devices Inc.
Boston Scientific Corporation
Cook Medical Incorporated
Medical Components Inc.
Fresenius Kabi AG

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Central Venous Catheter Market Segmentation

By Product:

Dialysis Catheters
Acute Hemodialysis Catheter
Chronic Hemodialysis Catheter
Peritoneal Dialysis Catheter
PICC Catheters
Implantable Port
CVC Catheters
Tunneled Catheters
Non-tunneled Catheters

By Property:

Anti-microbial Catheter
Non-Anti-Microbial Catheter

By Design:

Single Lumen
Double Lumen
Multiple Lumen

By End-user:

Hospitals
Ambulatory Surgical Centers
Dialysis Centers
Specialty Clinics
Others

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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