Central Venous Catheter Market Set to Reach USD 5,314.5 Million by 2033 at a 5.1% of CAGR

Posted on 2024-07-02 by Future Market Insights in Healthcare, Pharmaceuticals // 0 Comments

Central Venous Catheter Market

The central venous catheter market is poised for steady growth, with market analysts forecasting a valuation of USD 5,314.5 million by 2033. Currently valued at USD 3,238.1 million in 2023, the market is expected to achieve a compound annual growth rate (CAGR) of 5.1% over the forecast period.

It is anticipated by manufacturers in the central venous catheter business that growth will be consistent due to ongoing developments and a growing market for premium medical equipment. This expansion highlights the critical role central venous catheters play in contemporary healthcare and offers profitable prospects for stakeholders.

Because they make it possible to administer drugs, fluids, and blood products as well as assess central venous pressure and perform hemodynamic monitoring, central venous catheters are essential to medical therapies. The market for central venous catheters is expected to grow for a number of reasons, including the rising demand for less invasive operations, the rise in chronic illnesses, and developments in catheter design and material.

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Parenteral nutrition, or intravenous nutrient infusion, is necessary for patients who are unable to acquire enough nutrients through oral or enteral means. This includes those who have had surgery, are receiving treatment for cancer, or have serious gastrointestinal disorders. As more people become aware of the significance of nutrition for both general health and patient rehabilitation, central venous catheters are becoming more and more required to deliver 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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