Central Venous Catheter Market Projected to Reach Over $2 Billion by 2021
Central venous catheter is also known as central line or central venous line. It is a flexible tube inserted into the vein below the right side of the collarbone and guided towards the large vein towards the heart known as superior vena cava. A central venous catheter is used for administration of intravenous fluid, blood transfusions and chemotherapy drugs.
The Centers for Disease Control and Prevention (CDC) provided guidelines to prevent intravascular catheter-related infections in 2011, which were further edited in 2017.
The guideline covers various important aspects associated with central venous catheters such as appropriate training of the healthcare personnel who insert intravascular catheters and of the staff who is responsible for surveillance, and selection of catheter and catheter application sites.
The global central venous catheter market value is estimated to be valued at US$ 2,002.2 Mn in 2020 and is expected to exhibit a CAGR of 6.2% during the forecast period (2020-2027).
Central venous catheterization is one of the most reliable options for therapy administration. Technological advancements are also facilitating adoption of central venous catheterization in medical care.
Moreover, Global Central Venous Catheter Market Drivers include high prevalence of chronic diseases such as cancer, cardiovascular diseases, and chronic kidney disease (CKD) is propelling the need for treatment and care using central venous catheterization, which is expected to drive the market growth. According to data findings by the World Health Organization (WHO), in February 2018, cancer was the second-leading cause of death globally, and around 18.1 million new cases and 9.6 million deaths were registered due to cancer. According to the same source, around 70% deaths from cancer occur in low- and middle-income countries and around 1 in 6 deaths across the globe are caused by cancer.
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Furthermore, according to the annual report of the U.S Renal Data System (USRDS), in 2018, kidney failure, also called end stage renal disease (ESRD), affected around 750,000 patients per year in the U.S. According to the same source, end stage renal disease (ESRD) affects around 2 million people worldwide.
Market Dynamics
Initiatives taken by research associations and institutes for proper practice guidelines for appropriate insertions of central venous access are major factors driving the global central venous catheter market growth. In January 2020, the American Society of Anesthesiologists provided practice guidelines for central venous access to assist anesthesiologists and healthcare professionals. These guidelines serves purposes such as providing guidance for appropriate placement and management of central venous catheters, avoiding adverse outcomes associated with the central venous catheterization such as infections and mechanical complications, and improving management of injury arising from central venous catheterization.
Major Players Are: AngioDynamics Inc., Lepu Medical Technology Co., Ltd, KIMAL PLC, Prodimed Benelux B.V, Terumo Corporation, Medtronic Plc, Teleflex Incorporated, Becton, Dickinson and Company, Amecath, ICU Medical, Inc., Edwards Lifesciences Corporation, 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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The post Central Venous Catheter Market is Expected to register a healthy CAGR, and will Represent a Value of over US$ 2,002.2 Mn by the end of 2021 appeared first on Gatorledger.
