VALLEY COTTAGE, New York, July 22, 2016 /PRNewswire/ --
Continuous peripheral nerve block catheters are gaining traction in the healthcare sector as an effective analgesic for pain management. The global market for continuous peripheral never block catheters (CPNBC) was valued at US$ 372.8 Mn in 2015, and is expected to witness a year-over-year growth of 4.9% to reach US$ 391.2 Mn in 2016.
Increasing prevalence of osteoarthritis and effectiveness of CPNBC in upper/lower extremity joint replacement procedures will continue to fuel growth of the market in 2016. Other factors, such as cost-effectiveness and lower hospital stay are also making continuous peripheral never block catheters an appealing option for analgesia among healthcare professionals. However, longstanding challenges, such as lack of trained professionals and ambiguity over standard usage guidelines are anticipated to pose challenges to widespread adoption.
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The U.S. will continue to be at the forefront of adoption of continuous peripheral nerve block catheters, making North America the most lucrative market globally. North America's revenue share in the global CPNBC market is expected to reach 42.4% in 2016. Western Europe is the second-largest market, with total revenues reaching US$ 61.3 Mn in 2016.
By product, non-stimulating catheter systems account for the highest demand-in 2016, global revenues are anticipated to total US$ 220.8 Mn. On the other hand, the over-the-needle product segment will witness lowest demand in 2016 and beyond.
By insertion technique, ultrasound insertion is gaining traction over nerve stimulation although the latter accounts for the majority revenue share of the market currently. Ultrasound insertion revenues are anticipated to grow by 5.8% in 2016, whereas over nerve stimulation revenues will grow by 4.5%.
By indication, lower extremity surgeries will continue to be the leading segment, accounting for US$ 119.8 Mn in 2016, an increase of 5.3% over 2015. Adoption of CPNBC in lower extremity surgeries is anticipated to be quite robust, and this segment will witness higher growth than other indication segments.
By end-user, hospitals will continue to maintain their dominance over ambulatory surgical centres in 2016 as well. The hospitals segment of the continuous peripheral nerve block catheters market is expected to reach US$ 243.4 Mn in revenues in 2016, witness a growth of 5.3% over 2015.
B.Braun Melsungen AG is the largest player in the continuous peripheral nerve block cathether market. It has a broad product portfolio and its products have been positively received in the market. Other key players in the market include Halyard Health, Inc., Ambu A/S, Epimed International Inc., Teleflex Incorporated, and Pajunk GmbH.
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Long-term Outlook: The global continuous peripheral nerve block catheters market is anticipated to increase at 6% CAGR during the forecast period 2016-2026. North America will continue to be the largest market, whereas rising awareness will led to higher adoption in developing countries.
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SOURCE Future Market Insights