Catheter Stabilization Device Market Growth at 7.1% CAGR by 2023
Catheter Stabilization Devices Market research report, by Product type (arterial securement devices, chest drainage tube securement devices), Applications (cardiovascular procedures, radiology, respiratory procedures) - Forecast till 2027
Market Research Future (MRFR) latest study finds that the global catheter stabilization device market is set to surge at 7.1% CAGR from 2018 to 2023. Catheter stabilization devices are standard class for suture-free stabilization of peritoneal lavage and nephrostomy and biliary percutaneous drainage catheters.
These devices play an important during procedures that involve the use of catheters. Cardiac, neurology, urological are among the major areas where catheter stabilization finds application. The rising incidence of cardiac incidence is one of the major factors driving the market growth. In 2015, cardiovascular diseases accounted for more than 17 Mn deaths. Of these, over 6 Mn deaths were due to stroke and more than 7 Mn were due to coronary heart diseases. The data released by the American Heart Association cardiovascular diseases accounted for nearly 801,000 deaths in 2017. The healthcare cost of cardiovascular treatment is anticipated to reach USD 1044 Bn by the year 2020.
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Segmental Overview
MRFR’s study includes a detailed segmental analysis of the global catheter stabilization device market based on application, product type, end user and region.
By application, the market has been segmented into respiratory procedures, general surgery, radiology, cardiovascular procedures, urological procedures, gastric and oropharyngeal procedures and others. By product type, the market has been segmented into arterial securement devices, central venous catheter securement devices, peripheral securement devices, chest drainage tube securement devices, abdominal drainage tubes securement devices, epidural securement devices. The central venous catheter securement devices segment covers jugular securement devices, PICC securement devices, midlines securement devices, portal securement devices, subclavian securement devices and femoral securement devices. The peripheral securement devices segment covers nasogastric tubes securement devices, continuous nerve block catheter securement devices, chest drainage tube securement devices, foley catheter securement devices, endotracheal tube securement devices, ventriculoperitoneal securement devices. Abdominal drainage tube securement devices segment covers umbilical catheter securement devices, jejunal catheter securement devices and percutaneous endoscopic gastrostomy securement devices. By end users, the market has been segmented into diagnostic centers, home healthcare providers and hospitals & clinics.
Global Catheter stabilization device market: Regional Segmentation
On the basis of region, the market has been segmented into Asia Pacific, Europe, Americas and the Middles East & Africa (MEA). The market catheter stabilization device market in Americas is expected to remain highly attractive during the forecast period. Presence of advanced healthcare infrastructure and faster adoption of innovative healthcare technologies are some of factors supporting the market growth in Americas, especially North America.
In terms of revenue, Europe holds the second spot. Increased prevalence of chronic diseases and cardiovascular disorders in the region is driving the demand for catheter-based procedures. Moreover, high healthcare expenditure and presence of public healthcare policies continues to favour the market in Europe.
Asia Pacific is also viewed as a crucial market for catheter stabilization. In fact, the APAC catheter stabilization device market is projected to witness a relatively faster growth during the forecast period. Growing need for effective diagnostic services and increased focus of improving healthcare infrastructure and an ever-growing patient pools are factors that make APAC a market with significant potentials.
Competitive Analysis
Some of top-notch companies operating in the global catheter stabilization device market include B. Braun Melsungen Ag, C. R. Bard, Inc. Convatec, Inc., Medtronic PLC, M.C. Johnson Company, Inc., 3M Company, TIDI Products, LLC., Baxter International, Inc., Merit Medical Systems, Inc., Centurion Medical Products, and Smiths Group PLC.
Industry News
- American healthcare technology company Abbott Laboratories has reportedly received the green signal from FDA for its novel sensor enabled TactiCath Contract Force Ablation Catheter. The catheter has been there in the Europe market for couple of years now.
- Penumbra, a healthcare company that develops suction-based stroke clot removal devices has recently introduce two new devices; Penumbra JET 7 and Penumbra JET D Reperfusion Catheters.
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