Global CentralVenous Catheter Market, by Product Type (Peripherally Inserted CentralCatheters (PICC), Implantable Ports, Tunneled Central Venous Catheter, andNon-Tunneled Central Venous Catheter),by Design (Single Lumen, Double Lumen, and Multi Lumen), by Age Group (Adults,Pediatric, and Geriatric), by Procedure (Cardiovascular Procedure, ChemotherapyProcedure, and Dialysis Procedure), by End User (Hospitals, Ambulatory Surgical Centre, and SpecialtyClinics), and by Region (North America, Latin America, Europe, Asia Pacific, MiddleEast, Africa) is estimated to be valued at US$ 2,002.2 million in 2020 and is expected to exhibit aCAGR of 6.2 % during the forecast period (2020-2027), as highlighted in a newreport published by Coherent Market Insights.
Major companies are focused on strategic mergers andacquisitions in order to strengthen their position in the global central venouscatheter market. For instance, in 2018, B.Braun Melsungen AG acquiredbloodlines business of NxStage Medical, Inc. This acquisition helped the dialysisbusiness of B. Braun Melsungen.
Moreover, companies are focused on innovation andadvancements in central venous catheters to strengthen their share in theglobal central venous catheter market. For instance, On April 2020, BluegrassVascular Technologies, a medical technology company, received a De Novoclassification order from the U.S. Food and Drug Administration (FDA) for itsSurfacer Inside-Out Access Catheter System. The system is developed to obtaincentral venous access for catheter insertion into the central venous system forpatients with upper body venous occlusions.
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Global Central Venous Catheter Market – Impact of Coronavirus(COVID-19) Pandemic
According to the Coronavirus Disease (COVID-19) SituationReport- 199 by the World Health Organization, around 18,614,177 cases ofcoronavirus disease (COVID-19) were reported on August 6, 2020 across theglobe.
On May 23, 2020 the Centers for Disease Control andPrevention released an updated interim additional guidelines to prevent theinfection spread in outpatient hemodialysis facilities. Some importantguidelines are facilities should implement non-punitive, and flexible sickleave for ill healthcare professional, instructions about maintaining socialdistancing of at least 6 feet whenever possible, hand hygiene, respiratoryhygiene, and cough etiquette should be provided to patients and ill healthcarepersonnel (HCP) as well. Hemodialysis facilities which are carrying out thedialysis of more than one patient with suspected or confirmed COVID-19 shouldprovide proper isolation to these patients and the healthcare personnel (HCP)taking care of patients.
Browse 64 Market Data Tables and 44 Figures spread through261 Pages and in-depth TOC on “Global Endocrine Testing Market, by Product Type(Peripherally Inserted Central Catheters (PICC), Implantable Ports, Tunneled Central Venous Catheter, andNon-Tunneled Central Venous Catheter),by Design (Single Lumen, Double Lumen, and Multi Lumen), by Age Group (Adults,Pediatric, and Geriatric), by Procedure (Cardiovascular Procedure, ChemotherapyProcedure, and Dialysis Procedure), by End User (Hospitals, Ambulatory SurgicalCenter, and Specialty Clinics), and by Region (North America, Latin America,Europe, Asia Pacific, Middle East, and Africa).
The market is expected to witness significant growth duringthe forecast period, as various companies are focusing on strategic mergers andacquisitions in the global central venous catheter market.
For instance, in 2018, B.Braun Melsungen AG acquiredbloodlines and dialysis business of NxStage Medical, Inc. This acquisition isexpected to facilitate growth of B.Braun Melsungen’s dialysis business.
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Key Takeaways of the Global Central Venous Catheter Market:
The global central venous catheter market is expected toexhibit a CAGR of 6.2% during the forecast period owing to product approvalsand launches and strategic mergers and acquisitions.
Among product type, the peripherally inserted centralcatheters (PICC)-central venous catheter market segment is expected to holddominant position in the global central venous catheter market in 2020 owing toapprovals of new and advanced products by regulatory authorities.
Among design, the multi lumen-central venous catheter marketsegment is expected to hold dominant position in the global central venouscatheter market growth in 2020 due to availability of products with featuressuch as antimicrobial and antithrombogenic (Arrow PICC), and increasingincidence of diseases requiring use of multiple lumen catheters.
Among age groups, the adult segment is expected to holddominant position in the global central venous catheter market in 2020 owing toan increasing number of product launches.
Among procedure, the chemotherapy procedure- central venouscatheter market size segment is expected to hold dominant position in centralvenous catheter market growth due to the rising incidence of cancer conditionsand patients on chemotherapy requiring multiple medications at times such asantibiotics, nutritional fluids, and even blood infusion.
Among end user, the hospitals segment is expected to holddominant position in the global central venous catheter market in 2020 owing toincreasing hospitalizations for cardiovascular diseases such as heart failure,heart attack etc.
Among regions, North America central venous catheter marketis expected to hold dominate position in the global central venous cathetermarket owing to an increasing number of product launches and approvalsassociated with central venous catheters by regulatory bodies in the region.
Key players operating in the global central venous cathetermarket are AngioDynamics Inc., Lepu Medical Technology Co., Ltd, KIMAL PLC, ProdimedBenelux B.V, Terumo Corporation, Medtronic Plc, Teleflex Incorporated, Becton,Dickinson and Company, Amecath, ICU Medical, Inc., Edwards LifesciencesCorporation, Cook Group, Nipro Corporation, Bactiguard, Vygon (UK) Ltd,Guangdong Baihe Medical Technology Co., Ltd, Wujiang Evergreen EX/IM Co., Ltd,and ZOLL Medical Corporation.
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