World Catheter Stabilization/Securement Devices Industry to 2025: COVID-19's Impact on the Global Market
DUBLIN, Aug. 20, 2020 /PRNewswire/ -- The "Catheter Stabilization/Securement Device Market by Product ((Arterial, CVS (Portal, Femoral), Chest, Epidural, Peripheral (Nasogastric, Endotracheal, Foley)), Application (Cardiovascular, Respiratory), End User - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global catheter securement devices market is projected to reach USD 1.9 billion by 2025 from USD 1.18 billion in 2020, at a CAGR of 10% from 2020 to 2025.
The growth of the market is largely driven by factors such as the growing global prevalence of lifestyle diseases such as heart diseases, strokes diabetes, and the increasing healthcare expenditure across the countries. Developing economies are expected to provide a wide range of growth opportunities for players in the market.
The some of the major players operating in this market are 3M (US), C. R. Bard, Inc. (US), B. Braun Melsungen AG (Germany), Baxter International, Inc. (US), Cardinal Health (US), and ConvaTec Group plc. (UK).
COVID-19's IMPACT ON THE CATHETER SECUREMENT DEVICES MARKET
The outbreak of COVID-19 has created a global health crisis that has had a deep impact on healthcare industry. Intubation is one of the most important procedures used for managing critical COVID-19 patients. It helps them breathe and supports drug delivery. As a result, the increasing number of COVID-19 patients is going to result in rise in demand for intubation, ventilators, and ventilation stabilization supplies such as the catheter securement devices.
In line with this, Intravenous immunoglobulin (IVIG) is being clinically used as an adjunctive drug in the treatment of COVID-19 positive patients. This is further going to increase the demand for catheter securement device which is used to minimize potential complications as a result of catheter movement or dislodgment.
MARKET DYNAMICS
DRIVER: Increasing prevalence of lifestyle diseases
Lifestyle diseases such as obesity and CVD are on the rise globally. Worldwide, obesity has more than tripled since 1975. Worldwide, obesity has more than tripled since 1975. Globally there are more people who are obese than underweight - this occurs in every region except parts of sub-Saharan Africa and Asia. Research shows almost a nine-fold increase in CVD in India and China since the last decade. Thus, the rising number of cardiac surgeries is an impetus for the growth of the securement devices market worldwide. Furthermore, the rapidly increasing global geriatric population is also expected to drive market growth in the coming years.
RESTRAINT: Availability of alternative products
In many countries, dressing tapes are used as a cost-effective option for securement devices. Historically, a surgical suture was the only secure technique to retain VADs in place. This practice still occurs today owing to habit and a lack of perceived safe' alternatives. This can restrain the market growth of catheter securement devices market.
OPPORTUNITY: Growth potential in Emerging economies
Emerging economies such as India, Brazil, China, and South Africa provide significant opportunities for players in the catheter securement devices market. The need for improved healthcare services in these economies is mainly driven by the rapidly increasing aging population and high patient volumes. With the advantages that the suture-less devices offer and the increasing minimally invasive surgeries being carried out in the emerging economies, the market presents a huge opportunity.
Peripheral securement devices segment accounted for a significant share of the catheter securement devices market, by type, in 2019
By type, the catheter securement devices market is segmented into peripheral catheter securement devices, arterial catheter securement devices, central venous catheter securement devices, chest drainage tube securement devices, abdominal drainage tube securement devices, epidural securement devices, and all-site securement devices. Of all these products types hospitals accounted for the largest share of the catheter securement devices market in 2019. The central venous catheter securement devices is the fastest growing segment due to the rising incidence of cardiovascular diseases such as strokes and heart diseases.
Cardiovascular procedures segment accounted for the largest share of the catheter securement devices market, by application, in 2019
On the basis of application, the catheter securement devices market is segmented into cardiovascular procedures, respiratory procedures, gastric procedures, general surgery, urological procedures, radiology procedures, and others. Of all these applications segments, cardiovascular procedures segment accounted for the largest share of the catheter securement devices market in 2019.
Hospitals segment accounted for the largest share of the catheter securement devices market, by end user in 2019
On the basis of end user, the catheter securement devices market is segmented into hospitals, home care settings, emergency clinics and diagnostic imaging centers. Of all these end-user segments, hospitals accounted for the largest share of the catheter securement devices market in 2019. The large share of this segment can be attributed to factors such as the rapidly growing aging population, the higher surgeries performed in the hospital settings and the increasing reimbursements in the hospital settings.
North America will continue to dominate the catheter securement devices market during the forecast period
In 2019, North America was estimated to be the largest regional market for catheter securement devices, followed by Europe. The growth in this market is primarily driven by the rising geriatric population, favorable government initiatives, increasing healthcare expenditure, improved healthcare infrastructure coupled with the rising prevalence of lifestyle diseases.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Catheter Securement Devices Market Overview
4.2 Catheter Securement Devices Market, by Product, 2020 Vs. 2025 (Usd Million)
4.3 Catheter Securement Devices Market Share, by End-user, 2020 Vs. 2025
4.4 Catheter Securement Devices Market: Geographic Growth Opportunities
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Prevalence of Lifestyle Diseases
5.2.1.2 Cost-Benefits of Securement Devices
5.2.2 Restraints
5.2.2.1 Availability of Alternative Products
5.2.2.2 Delay in Non-Urgent Treatments and Surgical Procedures Due to COVID-19
5.2.3 Opportunities
5.2.3.1 Growth Potential in Emerging Economies
5.3 COVID-19 Impact on the Catheter Securement Devices Market
5.4 Adjacent Markets to the Catheter Securement Devices Market
6 Catheter Securement Devices Market, by Type
6.1 Introduction
6.2 Peripheral Catheter Securement Devices
6.3 Central Venous Catheter Securement Devices
6.4 Arterial Catheter Securement Devices
6.5 Chest Drainage Tube Securement Devices
6.6 Abdominal Drainage Tube Securement Devices
6.7 Epidural Securement Devices
6.8 All-Site Securement Devices
7 Catheter Securement Devices Market, by Application
7.1 Introduction
7.2 Cardiovascular Procedures
7.3 Respiratory Procedures
7.4 Gastric and Oropharyngeal Procedures
7.5 General Surgery
7.6 Urological Procedures
7.7 Radiology
7.8 Other Applications
8 Catheter Securement Devices Market, by End-user
8.1 Introduction
8.2 Hospitals
8.3 Homecare Settings
8.4 Emergency Clinics
8.5 Diagnostic Imaging Centers
9 Catheter Securement Devices Market, by Region
9.1 Introduction
9.2 North America
9.3 Europe
9.4 Asia-Pacific
9.5 Latin America
9.6 Middle East & Africa
10 Competitive Landscape
10.1 Overview
10.2 Market Share Analysis, 2019
10.3 Competitive Leadership Mapping (Overall Market)
10.4 Vendor Inclusion Criteria
10.5 Vendor Dive
10.5.1 Visionary Leaders
10.5.2 Innovators
10.5.3 Dynamic Differentiators
10.5.4 Emerging Companies
10.6 Competitive Leadership Mapping for Start-ups (2019)
10.6.1 Progressive Companies
10.6.2 Starting Blocks
10.6.3 Responsive Companies
10.6.4 Dynamic Companies
10.7 Competitive Scenario
10.7.1 Product Launches
10.7.2 Partnerships
10.7.3 Acquisitions
10.7.4 Expansions
10.7.5 Agreements
11 Company Profiles
11.1 3M
11.2 B. Braun Melsungen AG
11.3 Baxter International
11.4 C.R. Bard (Becton, Dickinson and Company)
11.5 Convatec Group plc
11.6 Centurion Medical Products (Medline Industries, Inc.)
11.7 Cardinal Health
11.8 Merit Medical Systems
11.9 Owens & Minor, Inc.
11.10 M.C. Johnson Company Inc.
11.11 Smiths Medical
11.12 Dale Medical Products, Inc.
11.13 Tidi Products, LLC
11.14 Deroyal Industries, Inc.
11.15 Bioderm Inc.
11.16 Starboard Medical, Inc.
11.17 Pepper Medical
11.18 Adhezion Biomedical, LLC
11.19 Marpac
11.20 Chengdu Cryo-Push Medical Technology Co. Ltd.
11.21 Mermaid Medical A/S
11.22 Interrad Medical
11.23 Bird & Cronin, Inc.
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