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North America Peripheral Catheters Market Global Forecast to 2029 | DataMIntelligence

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North America Peripheral Catheters Market Global Forecast to 2029 | DataMIntelligence

May 24
11:41 2022
North America Peripheral Catheters Market Global Forecast to 2029 | DataMIntelligence
DataM Intelligence
North America Peripheral Catheters Market is expected to reach a high CAGR during the forecast period 2022-2029.

Market Overview:

The peripheral catheter is a small flexible tube which is inserted into a peripheral vein for the delivery of medicines and nutritional supplements. These catheters are widely used in the collection of blood samples for diagnostic purpose. The peripheral intravenous catheters can be divided into peripheral intravenous catheters (PIVC), midline peripheral catheters, central venous catheters (CVC).

 

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Market Size Growth Rate:

According to the research report published by the DataM Intelligence, the North America peripheral catheters market size was valued at USD XX billion in 2021, it is projected to reach at USD XX billion by 2029, with growth at a CAGR of XX% over the forecast period 2022-2029.

North America is the most lucrative market for peripheral catheters. The growth in the region is due to the well- established healthcare infrastructure, favorable government initiatives, and numerous of private and government hospitals which is providing facility for catheterization. Rising awareness about the minimally invasive surgeries coupled with rising usage of advanced materials such as Teflon and polytetrafluoroethylene in product has also boosted its demand.

Market Drivers:

Technological advancements in PICCs and recent demand based innovations such as the introduction of anti-microbial PICCs and anti- thrombogenic PICCs is increasing. In addition, increasing utilization of peripheral intravenous catheters in the treatment of these chronic diseases, leading to hospitalization is anticipated to drive the market over the forecast period. Chronic disease is leading causes of death and disability and leading drivers of the United States $3.5 Trillion in Annual Health Care Costs. As per the National Center for Chronic Disease Prevention and Health, 6 in 10 adults of the US have a chronic disease at some point in their lives. Hence, increasing burden of chronic diseases, including coronary artery diseases, is anticipated to boost the usage of peripheral catheters and drive the market over the forecast period.

Market Restraints:

However, some of the factors hindering the market growth include high risk of catheter related bloodstream infection in patients who undergo catheter insertions and need for trained healthcare professionals and the pain associated with the insertion procedure along with the expense of closed catheters.

 

View full report @ https://www.datamintelligence.com/research-report/north-america-peripheral-catheters-market

 

Market Opportunities

Growing R&D in peripherally inserted catheters is expected to offer lucrative growth opportunities for players in India catheters market. Also companies in this region are focusing on entering new markets especially in emerging countries with innovative technologies and diversified product portfolio. This will increase its sales and revenue in target countries and also consolidate their position in the market.

COVID-19 Impact Analysis 

The key players operating in the peripheral intravenous catheter market has faced several challenges due to the COVID-19 pandemic. One of the major challenges is disruption in supply chain and lack of raw materials required for manufacturing peripheral intravenous catheter due to irregularities in transportation facility. In addition, distributors in the market has faced an irregular demand for products from the retailers owing to high number of COVID-19 cases. Patients with suspected or confirmed diagnosis of COVID-19 were being treated with peripheral intravenous catheters, which are employed for hydration and supportive therapies, and to infuse drugs and solutions compatible with the peripheral venous route. Owing to this, there was rise in demand for these devices during the pandemic.

Recent Developments in the Industry:

 

  • In September 2021, Cardiovascular Systems, Inc. (CSI) launched the ViperCross peripheral support catheter, which has received FDA 510(k) clearance. 

 

  1. In November 2019, Terumo Corporation  has acquired Aortica Corporation, a U.S.-based company dedicated to advancing the science of personalised vascular therapy to transform the treatment of aortic disease worldwide.

Market Segmentation:

As per the research analysis, the peripheral catheters market is segmented by product type into peripheral intravenous catheters (PIVC), midline peripheral catheters, central venous catheters (CVC). Based on design type, the market is classified into single lumen, double lumen, multiple lumen. Further on the basis of clinical area, the market is segmented into oncology, renal disease, gastroenterology, infectious disease, others. On the basis of patient age group, it is dived into adult, pediatric, neonatal and by end user it is further segmented into hospitals, ambulatory surgery centers, home healthcare, clinics, diagnostic centers, others.

  1. On the basis of clinical area, the renal disease market accounted for the largest market share in 2020. Renal disease has been gaining significance in recent years in North America, owing to the rising incidence of kidney diseases. 
  2. Further, based on patient age group, the adults segment is expected to grow at the highest CAGR of 6.67% during the forecast period (2022-2029) to reach a market value of USD XX million by 2029. Peripheral catheters are extremely well tolerated in adults they can often be maintained for several weeks with reasonably low infection rates. Another advantage of these catheters is avoidance of pneumothorax, because access is through the extremities rather than the chest.

Geographical Classification:

The North America Peripheral Catheters market is segmented into major countries including US, Canada, and Mexico.

US Peripheral Catheters Market:

In North America region, the United states holds the dominant share of about 43% in 2020, followed by Canada. The United States is the most lucrative market for peripheral catheters. The growth in the region is due to growing chronic diseases and technological advancements in the products. In addition, the United States has sophisticated healthcare facilities, and the reimbursement coverage which contributes to the large market share of the region.

Competitive Analysis:

The North America peripheral catheters market is a highly competitive market. The established as well as emerging companies are increasingly focusing on the launch advanced products to expand their market share. Companies are also focusing on gaining approval for innovative technological catheters in the market, which is likely to expand their penetration rate in the market. 

Major Companies:

Some of the companies which are currently dominating the peripheral catheters market are B. Braun Melsungen AG, BD, ICU Medical, Smiths Medical, Teleflex Incorporated, Terumo IS, Vygon SA, among others.

 

Additional Benefits Post Purchase:

1) Unlimited Analyst support for a period of 1 year. 

2) Any query with regards to the scope offered will be addressed within 24- 48 hours.

3) An excel sheet with market numbers will be provided separately.

The Full Report has the below insights: 

  • The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021), and verifiable projections about market size during the forecast period (2022-2029).
  • Visualize the composition of the North America Peripheral Catheters market segmentation by product type, design type, clinical area, patient age group, end user, and country highlighting the key commercial assets and players. 
    • By Product Type: Peripheral Intravenous Catheters (PIVC), Midline Peripheral Catheters, Central Venous Catheters (CVC)
    • By Design Type: Single Lumen, Double Lumen, Multiple Lumen
    • By Clinical Area: Oncology, Renal Disease, Gastroenterology, Infectious Disease, Others
    • By Patient Age Group: Adult, Pediatric, Neonatal
    • By End User: Hospitals, Ambulatory Surgery Centers, Home Healthcare, Clinics, Diagnostic Centers, Others
    • By Country: US, Canada, Mexico
  • Identify commercial opportunities in the North America Peripheral Catheters market by analyzing trends and co-development deals.
  • The report also covers data insights on various industry forces such as, porter’s five forces, regulations in each country, technological advancements, supply chain analysis, and pricing analysis.
  • Excel data sheet with thousands of data points of North America Peripheral Catheters market-level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.  
  • Product mapping in excel for the key product of all major market players
  • The report will provide access to approximately 50+ market data tables, 40+ figures, and close to 180 pages.   

 

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