PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1252681
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1252681
Catheter Stabilization Devices Market size was valued at USD 1,407.8 Million in 2022, expanding at a CAGR of 6.9% from 2023 to 2030.
Medical procedures and patient care often require the use of catheters - thin tubes that are inserted into the body for various purposes, such as administering fluids or medication or collecting bodily fluids or blood samples. However, catheters can pose a risk of accidental dislodging or movement, which can lead to discomfort or serious medical complications. That's where catheter stabilization devices come in - these medical devices are designed to secure and stabilize catheters in place, ensuring that they stay put during procedures or while a patient is receiving care.
The market for medical devices used for postoperative care, such as catheters, is expected to grow due to several factors, including an increasing demand for minimally invasive surgeries, a high prevalence of lifestyle diseases such as cardiovascular diseases, renal failure, and cancers, and an increase in surgeries that require these devices. Moreover, there is a need to reduce catheter-associated complications and infections, which is further driving the market. Additionally, the aging population is also contributing to the increased need for these devices.
The outbreak of COVID-19 has been declared an emergency health crisis by the World Health Organization (WHO), which has significantly impacted the healthcare industry. One of the crucial procedures for managing COVID-19 patients is intubation, highlighting the importance of medical devices used for postoperative care during these unprecedented times.
Intravascular catheters have become an integral part of modern healthcare worldwide, with an increasing demand for these devices in hospitals and clinics. According to a publication by 3M, healthcare facilities purchase over 150 million of these devices each year for the administration of medications, intravenous fluids, parenteral nutrition, and hemodynamic status monitoring. Additionally, it is estimated that more than 5 million central intravascular catheters are placed annually. Consequently, the growing use of these devices globally in various application areas is expected to contribute to the increasing demand for stabilization devices ultimately.
The Global Catheter Stabilization Devices Market is segmented on the basis of Product Type, Application, and Region.
The arterial securement devices segment held the largest market share in 2021 due to the widespread use of arterial catheters in routine modern healthcare practices. These devices are extensively used in a large number of surgeries associated with cardiovascular diseases and cancer therapies, making their securement essential in reducing complications associated with their use. Arterial catheters are frequently used in interventions in ICUs globally, with an estimated 6 million arterial catheters placed in the U.S. each year, according to a publication in the Rhode Island Medical Journal in August 2014.
The hospital segment held the largest market share in 2021, mainly due to the high number of surgeries performed in hospitals and the widespread use of catheters for various treatments. However, the usage of catheters in hospitalized patients is often associated with an increased risk of infections. Catheter-Associated Urinary Tract Infections (CAUTI) is the most frequently reported hospital-acquired infections, and their prevalence continues to rise.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
In 2021, North America dominated the catheter securement devices market, with the region accounting for the largest revenue share. The high prevalence of surgeries in this region has led to an increased demand for catheter stabilization devices, with the widespread adoption of catheterization techniques in examination, diagnosis, and treatment also contributing to market growth. Furthermore, the growing usage of intravascular catheters is expected to drive the market in this region. Within North America, the U.S. is the largest market due to the significant number of catheter placements. According to the Joint Commission, the U.S. utilizes approximately 300 million catheters annually, of which nearly 3 million are central venous. The high prevalence of Catheter-Related Bloodstream Infections (CLABSIs) and Catheter-Associated Urinary Tract Infections (CAUTIs) underscores the need for effective infection prevention measures, which is expected to further drive market growth.
In contrast, the Asia Pacific region is expected to exhibit the fastest growth over the next few years, owing to a large patient pool, growing target population, high unmet needs, and improving healthcare infrastructure. Increasing demand for various surgeries, improving healthcare facilities, and rising awareness among the public and healthcare professionals are also expected to contribute to market growth in this region.
Catheter stabilization devices market is characterized by moderate competition, with the presence of numerous global and regional players. In order to strengthen their market presence, key players are adopting various growth strategies, including partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions.
Many leading players are focusing on developing new and innovative products to meet the growing demand for catheter stabilization devices in the market. For instance, in June 2021, B. Braun Melsungen AG launched a new catheter securement device called the Tegaderm CHG Chlorhexidine Gluconate IV Securement Dressing. This device is designed to help reduce the risk of catheter-related bloodstream infections and complications associated with the use of central venous catheters.
This proposed research study on Catheter Stabilization Devices Market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Catheter Stabilization Devices Market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Catheter Stabilization Devices Market
Impact of COVID-19 on Catheter Stabilization Devices Market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Catheter Stabilization Devices Market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Catheter Stabilization Devices Market, we have also included competitive landscape and key innovator analysis for the Catheter Stabilization Devices Market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offersdetailed company profiling featuring major market participantswhich will help users to understand their financial information and strategic initiatives of players operating in the Catheter Stabilization Devices Market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global Catheter Stabilization Devices Market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
GLOBAL CATHETER STABILIZATION DEVICES MARKET KEY PLAYERS
C.R. Bard, Inc.
Baxter
3M
Centurion Medical Products
B Braun Melsungen AG
Merit Medical
Systems, Inc.
ConvaTec, Inc.
TIDI Products LLC
Smith's Medical
GLOBAL CATHETER STABILIZATION DEVICES MARKET, BY PRODUCT TYPE
Arterial Securement Devices
Central Venous Catheter Securement Devices
Peripheral Securement Devices
Urinary Catheter Securement Devices
Chest Drainage Tube Securement Devices
Others
GLOBAL CATHETER STABILIZATION DEVICES MARKET, BY APPLICATION
Hospitals
Home Care Settings
Others
GLOBAL CATHETER STABILIZATION DEVICES MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA