NEW YORK, Oct. 17, 2019 /PRNewswire/ -- The rise in prevalence of cardiovascular diseases such as atherosclerosis, arrhythmias, coronary artery disease, Myocarditis, pericarditis, myocardial infarction, aortic dissection, aneurysm, and cardiomyopathy among adults are expected to propel demand of the central venous catheters market.
According to the current analysis of Reports and Data, the global Central venous catheters market is expected to reach USD 2,234.1 million by the year 2026, in terms of value at a CAGR of 7.1%. Catheters emerged as an efficient delivery mechanism for surgical procedures and to treat other diseases. Central venous catheters are medical devices, which are used for the treatment of a large number of cardiovascular diseases and other chronic disorders. A catheter is often inserted in the arm or chest through the skin into a large vein. The catheter reaches the large vein through the internal jugular vein, subclavian vein, or femoral vein to administer medicines, fluids, nutrients, blood, and blood products. Also, these catheters are used to measure Central Venous Pressure (CVP), hemodialysis, and chemotherapy over a long period of time. The major driving factors that are propelling the growth of Central venous catheters market are the global rise in geriatric population susceptible to different cardiovascular diseases, government initiatives & grants and the increase in investment by private companies on R&D activities of central venous catheters. Also, Central venous catheters benefit in the administration of medication.
Manufacturers in the Central venous catheters market are increasing the strategic business expansion activities through merger and acquisitions to expand their customer base and enhance the product portfolio, which supports the growth of the target market. For instance, In November 2018, CVS Health and Aetna merged to create innovative health and activity solutions, the company focused on strengthening its demand in the near future. The primary indications of Central venous catheters market are Cardiomyopathy and myocardial infarction, With respect to the region, the Asia Pacific region is projected to be the highest growing market in Central venous catheters market during the analysis period, followed by Europe. This market is anticipated to grow at the highest CAGR during the study period. North America is found to be the largest revenue-generating segment due to the high burden lifestyle disorders and the technological advancements in the region, which are also the key factors influencing the Central venous catheters market growth. According to the World Health Organization, Singapore ranks sixth, globally, for its advanced healthcare system and offers the fourth best healthcare infrastructure in the world. Demand for advanced medical technologies is anticipated to strengthen its reputation as a healthcare hub in the region.
Key findings from the report suggest
Increasing acceptance of multiple lumen catheters and advanced treatments is likely to drive the in central venous catheters market. The significant share is due to the use of antimicrobial central venous catheters, and this segment is observed to grow enormously in the study period. By application, coronary artery diseases and other CVS diseases are expected to account for the largest share of the market.
North America dominates the global central venous catheters market due to a large patient pool, technological advancements, and high acceptance of advanced treatments in the region. The region is estimated to maintain its dominance during the forecast period. Moreover, the rise in healthcare expenditure, availability of approved medical devices, and increasing investments are key factors that are anticipated to boost the central venous catheters market in the next few years. The Central venous catheters market in the Asia Pacific is projected to expand at a notable CAGR due to increasing awareness regarding medical devices in developing countries and rising research initiatives in countries such as Japan and China.
The primary key players in this market include: Edwards Life sciences, Angio Dynamics, C.R.Bard, Lepu Medical Technology, Kimal, Terumo Corporation, Vygon (U.K.) Ltd, Becton Dickinson Company, Medrad (Bayer AG), Johnson and Johnson, Rochester Medical Co and many more are the major players in the Central venous catheter market.
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This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the Central Venous Catheters market into product types, property type, design type, composition type, sales channel type, End user type, and region.
By Product (Revenue, USD Million; 2016-2026)
By Property (Revenue, USD Million; 2016-2026)
By Design (Revenue, USD Million; 2016-2026)
By Composition (Revenue, USD Million; 2016-2026)
By sales channel (Revenue, USD Million; 2016-2026)
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