The latest market report published by Credence Research, Inc. “Global Catheter Stabilization Devices Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global catheter stabilization devices market was valued at US$ 1,055.6 Mn in 2017, and is expected to reach US$ 1,898.5 Mn by 2026, expanding at a CAGR of 6.8% from 2018 to 2026.
Browse the full report Catheter Stabilization Devices Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at https://bit.ly/2utfP8a
According to the latest research citing provided by World Health Organization (WHO), non-communicable diseases annually kill 41 million worldwide which is equivalent to 71% of global death. Catheter securement devices are widely employed to prevent infection of the blood veins and arteries of patients receiving medical intervention for the diagnosis and treatment of lifestyle disorders.
Arterial securement devices are reigning the product segment for catheter stabilization devices market. They are frequently used in surgical procedures and medical interventions in patients suffering with chemotherapy. Frequent failures associated with arterial catheter such as flow occlusions, infection and dislodgement increases the demand for arterial securement devices. Central venous securement devices are garnering huge demand owing to the significant rise in patient suffering with cardiovascular complications and cancer. Inherent features such as no obstruction, less reinsertion and decrease in replacement cost further bolster the central venous securement devices.
Hospitals are the supreme leader in catheter stabilization devices end-use segment. Rampant growth in the number of surgeries performed and frequent use of catheters for the treatment of terminally ill patients in ICUs globally drive the market growth for hospitals. Homecare settings will tract positive and steady growth during the forecast period on account of significant growth in patients receiving palliative treatment for cancer and on rehabilitation program for narcotic withdrawal symptoms.
In the present scenario North America is leading the regional segment for global catheter stabilization devices market with 37.2% share. The primary features which bolster its market performance are rising prevalence of lifestyle disorders and rising public health awareness. Existence of pioneers such as C.R.Bard, Inc., Medtronic, Plc. and B.Braun Melsungen AG etc. further propel the market growth of catheter stabilization devices in North America region. Europe is the second largest market with 24.8% market share primarily due to increasing cases of central line associated bloodstream infection (CLABSI) and supportive regulatory environment provided by the European Medical Agency (EMA) for catheter stabilization devices. Asia Pacific represents 16% market share owing to rising prevalence of catheter associated urinary tract infection (CAUTI) and significant rise in medical tourism.
Pharmaceutical companies manufacturing catheter stabilization devices are B.Braun Melsungen AG, Baxter International, Inc., C.R.Bard, Inc., ConvaTec, Inc., Centurion Medical Products Corporation, Medtronic, Plc. Merit Medical Systems, Inc., M C Johnson Company, Inc., TIDI Products, LLC and Smiths Medical, Inc.
Key Market Movements:
- Rising prevalence of CLABSI and CAUTI in patients suffering with lifestyle disorders
- Increasing number of surgeries performed and rampant growth in hospitals worldwide
- Supportive regulatory environment for the production and sale of catheter stabilization devices