Catheter Securement Device Market Size
Growing demand for catheter securement devices in minimally invasive surgeries and technological advancement is expected to register a CAGR of ~8.2% during the forecast period of 2021 to 2027
The global Catheter Securement Device Market Size is driven by several factors, such as increasing demand forcatheter securement devices used in surgeries, rising incidence, and prevalence ofchronic illness.Furthermore, rising R&D activities for catheter securement devices areprojected to drive the market in the forecast period.
Major market players such as 3M company, B. Braun Melsungen AG, C.R. Bard, Inc., ConvaTec Group plc, and Baxter International Inc.are dominating the global Catheter Securement Device Market. Theseprominent players are involved in strategic agreements, new product launches, innovations, and joint ventures to sustain their market positions.For instance, in May 2019, Dale Medical Products, Inc. (US) introduced the Hold-n-Place catheter securement device, which is soft, comfortable, and has a flexible design with no hard plastic parts. It provides complete antimicrobial protection.
Major Key Players:
Some of the key players in the global Catheter Securement Device Market are 3M Company (US), B. Braun Melsungen AG (Germany), Baxter International, Inc. (US), C.R. Bard, Inc. (US), Centurion Medical Products (US), ConvaTec Group plc (UK), Merit Medical Systems, Inc. (US), Smiths Medical (US), TIDI Products, LLC (US), M.C. Johnson Company, Inc. (US), DeRoyal Industries, Inc. (US), Cardinal Health (US), BioDerm Inc. (US), Starboard Medical, Inc. (US), and Pepper Medical (US).
The global catheter securement device market has been segmented into product type, application, end user, and region.
By product type, the market has been segregated into arterial, central venous, peripheral, chest drainage tubes, abdominal drainage tubes, epidural, and all-site securement devices.
Central venous is further segmented intoperipherally inserted central catheter (PICC), subclavian, midlines, femoral, portal, and jugular.Peripheralis further segmented into foley catheter securement device, nasogastric tubes,endotracheal tubes,ventriculoperitoneal, and continuous nerve blocks. The abdominal drainage tubessegment is further segmented intopercutaneous endoscopic gastrostomy, jejunal, and umbilical. The peripheral securement devices segment held the majority share in 2020 due to the extensive use of peripheral securement devices for blood transfusions and the administration of intravenous fluids&other medications after surgery.
Based on application, the catheter securement device market is segmentedintocardiovascular,radiology, general surgery, urological, respiratory, and gastric&oropharyngeal.The cardiovascular segment held the largest share in 2020 due to the rising prevalence of cardiovascular disorders such asatrial septal defect, heart valve disease, and coronary artery diseaseacross the globe.
Based on end user, the catheter securement device market is segmented into hospitals & clinics, home healthcare, and diagnostic centers.The hospitals & clinics segment held the largest market share in 2020 due toalarge number of hospitals present across the globe anda vastnumber of surgical procedures performed across these facilities.
The market has been divided, by region, into North America, Europe, Asia-Pacific, and the Rest of the World.
North America is likely to dominate theCatheter Securement Device Market in 2020,owing to thehigh prevalence of chronic diseasesand the presence of major industry players across the region. In addition, a large number of foreign patients prefer surgical procedures to be conducted in the US due to the easyavailability of high-end advanced resources and well-established healthcare infrastructure. Furthermore, according to the Centers for Disease Control and Prevention (CDC), heart disease was the leading cause of death in the US from 2015 to 2020.Thus, the rising number of patients suffering from heart diseases in the USmay increase the demand forheart-related surgeries and procedures, which, in turn, is likely to increase the demandfor catheter securement devices.
Europe holds the second-largest position in the Catheter Securement Device Market due to the increased adoption of minimally invasive surgeries across the region. In addition, countries such as Germany, France, Italy, Spain, and the UK have a large number of aging population, supporting the growth of the Catheter Securement Device Market.
Asia-Pacific is anticipated to be the fastest-growing regional market during the forecast period due to increasing investment in healthcare infrastructure, improving healthcare facilities. High mortality rates due to chronic diseases such as heart diseases, respiratory diseases, urinary diseases, and diabetesare creating demand for catheter securement devices and driving the region’s market growth.
The growth ofthe Catheter Securement Device Market in the Rest of the World is attributed to increasing public health awareness and government initiatives to bring more advanced technologies of catheter securement devicesinto the region.
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