Catheter Securement Device Market Business Strategy, Segmentation and Opportunity Assessment by 2027
Catheter Securement Device Market: By Product Type (Arterial, Central Venous, Peripheral, Chest Drainage Tube, Abdominal Drainage Tubes, Epidural, All-Site Securement Devices), By Application (Cardiovascular, Radiology, General Surgery, Urological, Respiratory, Gastric, Oropharyngeal), By End User (Hospitals & Clinics, Home Healthcare, Diagnostic Centers), and By Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast to 2027
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The global catheter securement device market is expected to cross ~USD 2,545.6 million by 2027 at a CAGR of ~8.2%.
Regional Analysis
The market has been divided, by region, into North America, Europe, Asia-Pacific, and the Rest of the World.
North America is likely to dominate thecatheter securement device market in 2020,owing to thehigh prevalence of chronic diseasesand the presence of major industry players across the region. In addition, a large number of foreign patients prefer surgical procedures to be conducted in the US due to the easyavailability of high-end advanced resources and well-established healthcare infrastructure. Furthermore, according to the Centers for Disease Control and Prevention (CDC), heart disease was the leading cause of death in the US from 2015 to 2020.Thus, the rising number of patients suffering from heart diseases in the USmay increase the demand forheart-related surgeries and procedures, which, in turn, is likely to increase the demandfor catheter securement devices.
Europe holds the second-largest position in the catheter securement device market due to the increased adoption of minimally invasive surgeries across the region. In addition, countries such as Germany, France, Italy, Spain, and the UK have a large number of aging population, supporting the growth of the catheter securement device market.
Asia-Pacific is anticipated to be the fastest-growing regional market during the forecast period due to increasing investment in healthcare infrastructure, improving healthcare facilities. High mortality rates due to chronic diseases such as heart diseases, respiratory diseases, urinary diseases, and diabetesare creating demand for catheter securement devices and driving the region's market growth.
The growth ofthe catheter securement device market in the Rest of the World is attributed to increasing public health awareness and government initiatives to bring more advanced technologies of catheter securement devicesinto the region.
Segmentation
The global catheter securement device market has been segmented into product type, application, end user, and region.
By product type, the market has been segregated into arterial, central venous, peripheral, chest drainage tubes, abdominal drainage tubes, epidural, and all-site securement devices.
Central venous is further segmented intoperipherally inserted central catheter (PICC), subclavian, midlines, femoral, portal, and jugular.Peripheralis further segmented into foley, nasogastric tubes,endotracheal tubes,ventriculoperitoneal, and continuous nerve blocks. The abdominal drainage tubessegment is further segmented intopercutaneous endoscopic gastrostomy, jejunal, and umbilical. The peripheral securement devices segment held the majority share in 2020 due to the extensive use of peripheral securement devices for blood transfusions and the administration of intravenous fluids&other medications after surgery.
Based on application, the catheter securement device market is segmentedintocardiovascular,radiology, general surgery, urological, respiratory, and gastric&oropharyngeal.The cardiovascular segment held the largest share in 2020 due to the rising prevalence of cardiovascular disorders such asatrial septal defect, heart valve disease, and coronary artery diseaseacross the globe.
Key Players
Some of the key players in the global catheter securement device market are 3M Company (US), B. Braun Melsungen AG (Germany), Baxter International, Inc. (US), C.R. Bard, Inc. (US), Centurion Medical Products (US), ConvaTec Group plc (UK), Merit Medical Systems, Inc. (US), Smiths Medical (US), TIDI Products, LLC (US), M.C. Johnson Company, Inc. (US), DeRoyal Industries, Inc. (US), Cardinal Health (US), BioDerm Inc. (US), Starboard Medical, Inc. (US), and Pepper Medical (US).
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