Intravascular Catheter Market Research Report: Information by Product (Short PIVC Catheters and Integrated/Closed PIVC Catheters), Application (Renal Disease, Cancer, Gastrointestinal Diseases, Infectious Diseases and other Diseases), End User (Hospitals, Clinics, Ambulatory Surgical Centers, Homecare and others) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) - Forecast till 2027
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However, the lack of skilled technicians and the increasing cases of local-site infections is hindering the growth of the global intravascular catheter market. Moreover, the availability of high-quality raw materials is restraining the growth of the market. However, amendments in regulatory policies and a high demand for effective treatment options for treating complicated disorders are expected to lessen the influence of barriers over the forecast period.
Some of the key players in the global intravascular catheter market are Boston Scientific Corporation, Smiths Medical, C.R. Bard, Inc., McKesson Medical Surgical Inc., Coloplast, Terumo Corporation, Cook Medical, Edwards Life Sciences Corporation, Getinge AB, Johnson & Johnson, and Medtronic Inc.
On a regional basis, the intravascular catheter market in the Americas is expected to dominate the market during the forecast period. The North American region holds a significant share of the global market due to the increasing per capita healthcare expenditure, rising rate of the intravascular catheterization procedures, and widespread adoption of IV catheters in the region. Furthermore, rising initiatives taken by public and private organizations are expected to drive the growth of the market in this region. Also, numerous key players are based in the US, owing to which the US has become a center for innovation in the intravascular catheter market.
Currently, the global intravascular catheter market is dominated by several players. The major players in this market are involved in strategic collaborations and new product launches to expand their product portfolios. For instance, in March 2019, Edwards Lifesciences Corporation announced the acquisition of Corvia Medical, Inc. Similarly, in April 2019, the company completed the acquisition of CAS Medical Systems, Inc.
The global intravascular catheter market has been segmented based on product, application, end user, and region.
The market, based on product, has been segmented into short peripheral intravenous catheters (PIVC) and integrated/closed PIVC catheters. The short PIVC catheters segment is estimated to hold the larger share during the assessment period due to the high level of patient satisfaction and positive feedback. The integrated/closed PIVC catheters segment is projected to register the higher CAGR due to the increase in rates of catheter induction in developing countries.
The market, by application, has been further segmented into renal disease, cancer, gastrointestinal diseases, infectious diseases, and other diseases. The renal disease segment is expected to hold the largest share owing to the increasing prevalence of kidney related disorders throughout the globe. The cancer segment is expected to be the fastest- growing due to the increased patient population in recent years.
The market, by end user, has been segmented into hospitals, clinics, ambulatory surgical centers, homecare, and others. The hospitals segment is projected to hold the largest share owing to the increase in hospitalization rates, whereas the clinics segment is estimated to be the fastest- growing due to the higher patient preference and the ease of accessibility that clinics provide.
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