Peripherally Inserted Central Catheter (PICC) Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Peripherally Inserted Central Catheter (PICC) Devices Market By Product Type (Power Injected Peripherally Inserted Catheters, Non-Power Injected/ Conventional Peripherally Inserted Central Catheters), Design (Single Lumen, Double Lumen, Triple Lumen), End-User (Hospitals, Ambulatory Surgical Centers, And Others) and geography is expected to grow at a steady CAGR forecast till 2030 owing to the increasing incidence of cancers and infectious diseases and the various technological advancements in product portfolio

The global Peripherally Inserted Central Catheter (PICC) Devices market was valued at USD 976.13 million in 2023, growing at a CAGR of 5.29% during the forecast period from 2024 to 2030 to reach USD 1,326.59 million by 2030. The demand for peripherally inserted central catheter devices is primarily being boosted owing to the key factors such as the increasing incidence of cancers, and infectious diseases, among others, technological advancements in product portfolio, and proper reimbursement coupled with increasing product launches, thus creating a positive market growth for the Peripherally Inserted Central Catheter (PICC) Devices market during the forecast period from 2024-2030.

Peripherally Inserted Central Catheter (PICC) Devices Market Dynamics:

The continuous rise in the cases of cancer, infectious, and other diseases is driving the growth of the peripherally inserted central catheter devices market. For instance, the study conducted by the International Agency for Research on Cancer mentioned that worldwide, an estimated number of 19.3 million new cancer cases were reported in 2020.

According to data cited by the World Health Organization 2022, worldwide around 2.26 million cases of breast, 2.21 million cases of lung, 1.93 million cases of colon and rectum, 1.41 million cases of prostate, and 1.09 million cases of stomach cancer were reported in 2020.

Also, as per the Global Cancer Observatory 2021 data, globally around 544,352 cases of Non-Hodgkin lymphoma and 83,087 cases of Hodgkin lymphoma were reported in 2020. As per the same source globally around 474,519 leukemia cases and nearly 176,404 cases of multiple myeloma were reported in 2020.

The data published by Global Cancer Observatory (2023) says that globally around 1.41 million new cases of prostate cancer were reported in 2020 and by 2040 this number is expected to reach 2.24 million.

According to World Health Organization (WHO) 2022, globally there were around 37.7 million people suffering from human immunodeficiency virus (HIV) in year 2020. Also, as per the European Centre for Disease Prevention and Control (ECDC) 2021, over the course of the last three decades, over 2.2 million people have been diagnosed and reported with HIV in the WHO European Region. In 2020, nearly 104,765 people were newly diagnosed with HIV in the European region.

PICC devices are employed in delivery of antibiotics and antifungal medicines in patients suffering from infectious diseases. According to the data cited in 2021 by Centers for Disease Control and Prevention, 47.8% percent of US adults aged 18 and over received an influenza vaccination in the 2020-2021 duration.

However, complications associated with the use of PICC devices and the increasing number of product recalls may restrict the growth of the peripherally inserted central catheter devices market.

Peripherally Inserted Central Catheter (PICC) Devices Market Segment Analysis:

Peripherally Inserted Central Catheter (PICC) Devices market By Product type (Power Injected Peripherally Inserted Catheters, Non-Power Injected/ Conventional Peripherally Inserted Central Catheters), Design (Single Lumen, Double Lumen, Triple Lumen), End-User (Hospitals, Ambulatory Surgical Centers, And Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the design segment of the peripherally inserted central catheter devices market, the triple lumen category held a revenue share of 52.26% in the year 2023. This can be ascribed to the various advantages associated with triple lumen peripherally inserted central catheter (PICC) devices.

Triple lumen PICC are suitable for use when multiple infusions are required to be performed. It allows to run several different infusion with only one access site. It offers separate infusion for each channel. It has three channels and lumens present at different positions on the distal cannula which provide ports for simultaneous drug infusion, blood drawing, and central venous pressure (CVP) monitoring.

Moreover, triple lumen catheters are most preferred ICU settings for their three infusion channels that allows for simultaneous administration of multiple therapies. Triple lumen catheters are routinely employed for the delivery of medications and other necessary fluids to patients with esophageal cancer.

In patients under intensive care and patients undergoing bone marrow transplants (BMT), triple lumen catheters are mostly preferred over other types. For example, Poly Per-Q-Cath3 by BD is an example of triple lumen catheter indicated for short or long term peripheral access to the central venous system for intravenous therapy and blood sampling.

Therefore, owing to the above-mentioned factors, the triple lumen category is expected to hold a respectable revenue share in the peripherally inserted central catheter (PICC) devices market during the forecast period.

North America is expected to dominate the overall Peripherally Inserted Central Catheter (PICC) Devices Market:

In the PICC devices global market, North America is expected to hold the largest share of 46.65% in the year 2023. Owing to the significance of key growth factors such as the increasing incidence of cancer, infectious, and other diseases, along with their risk factors, increasing healthcare expenditure, favorable reimbursement policies, rising research and development activities in the region including launches and approvals, among others, the market for peripherally inserted central catheter devices is expected to witness prosperity in the region during the forecast period from 2024-2030.

In the United States, the rising cases of chronic disorders such as cancers, respiratory disorders, gastrointestinal disorders in the region is likely to increase the demand for PICC.

For instance, according to the Centre for Disease Control and Prevention (CDC) 2020, Cystic fibrosis (CF), a genetic disorder that causes problems with breathing and digestion affects about 35,000 people in the United States, every year on an average.

In addition, people suffering from cystic fibrosis who need intravenous (IV) antibiotic treatments is for more than just a few days, such as during an exacerbation, which could potentially raise the demand for PICC catheters.

The Public Health Agency of Canada (2023) report stated that in 2020, the rate of active tuberculosis in Canada was 4.7 per 100,000 population. The peripherally inserted central catheters (PICCs) are frequently used to deliver intravenous antimicrobial therapy. Thus, the increasing prevalence of such infections in the country will propel the demand for PICC devices. Canada Institute for Health Information (CIHI) 2023, in 2021-2022, there were almost 2.9 million acute inpatient hospitalizations in Canada, up from 2.7 million visits in 2020-2021. The rising figures of hospitalizations in the country will increase the demand for PICC devices as these devices will be used to administer medications, fluids, and blood products to the hospitalized patients.

Thus, the interplay of all the above-mentioned factors would potentially help in driving the North America Peripherally Inserted Central Catheter (PICC) Devices market forward during the forecast period.

Peripherally Inserted Central Catheter (PICC) Devices Market Key Players:

Some of the key market players operating in the Peripherally Inserted Central Catheter (PICC) Devices market include B. Braun Melsungen AG, AngioDynamics, Cardinal Health, BD, Teleflex Incorporated, Argon Medical, Cook Group, ICU Medical Inc., Medical Components Inc., Access Vascular, Vygon, Meditech Devices, Biowy Corporation, Polymedicure, Footprint Medical Inc., SILMAG GROUP, pfm medical ag, Healthline Medical Products, INSUNG MEDICAL Co., Ltd., Equipos de Biomedicina de Mexico, S.A. de C.V, and others.

Recent Developmental Activities in the Peripherally Inserted Central Catheter (PICC) Devices Market:

In May 2022, Access Vascular, Inc., received the US FDA 510(k) clearance for its HydroPICC® Dual-Lumen catheter which has been designed and constructed using the same proprietary hydrophilic biomaterial as AVI's single-lumen HydroPICC® and HydroMID® catheters, with the aim to reduce complications such as occlusions, replacements, Deep Vein Thrombosis and phlebitis associated with use of multiple lumen catheters.

In March 2020, Biowy PICC-S kit received 510(k) clearance from the US FDA.

In March 2020, Access Vascular, Inc. received FDA clearance for the second generation of its HydroPICC, which demonstrated an average of 97% less thrombus accumulation on its surface compared to a standard polyurethane catheter.

Key Takeaways from the Peripherally Inserted Central Catheter (PICC) Devices Market Report Study

Market size analysis for current Peripherally Inserted Central Catheter (PICC) Devices market size (2023), and market forecast for 5 years (2024-2030)

The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Peripherally Inserted Central Catheter (PICC) Devices market.

Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the global Peripherally Inserted Central Catheter (PICC) Devices market.

Various opportunities available for the other competitor in the Peripherally Inserted Central Catheter (PICC) Devices market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current Peripherally Inserted Central Catheter (PICC) Devices market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for Peripherally Inserted Central Catheter (PICC) Devices market growth in the coming future?

Target Audience who can be benefited from this Peripherally Inserted Central Catheter (PICC) Devices Market Report Study

Peripherally Inserted Central Catheter (PICC) Devices products providers

Research organizations and consulting companies

Peripherally Inserted Central Catheter (PICC) Devices -related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in Peripherally Inserted Central Catheter (PICC) Devices

Various End-users who want to know more about the Peripherally Inserted Central Catheter (PICC) Devices market and the latest technological developments in the Peripherally Inserted Central Catheter (PICC) Devices market.

Frequently Asked Questions for the Peripherally Inserted Central Catheter (PICC) Devices Market:

1. What is meant by Peripherally Inserted Central Catheter (PICC) Devices?

Peripherally Inserted Central Catheter (PICC) device is a thin and flexible tube which is inserted into a vein to give intravenous fluids, blood transfusions, chemotherapy, and other drugs.

2. What is the market for global Peripherally Inserted Central Catheter (PICC) Devices?

The global Peripherally Inserted Central Catheter (PICC) devices market was valued at USD 976.13 million in 2023, growing at a CAGR of 5.29% during the forecast period from 2024 to 2030 to reach USD 1,326.59 million by 2030.

3. What are the drivers for the global Peripherally Inserted Central Catheter (PICC) Devices market?

The demand for Peripherally Inserted Central Catheter (PICC) devices is primarily being boosted owing to the key factors such as the increasing incidence of cancer, and infectious diseases, among other, technological advancement in the product portfolio, and proper reimbursement coupled with increasing product launches, thus creating a positive market growth of the Peripherally Inserted Central Catheter (PICC) Devices market during the forecast period from 2024-2030.

4. Who are the key players operating in the global Peripherally Inserted Central Catheter (PICC) Devices market?

Some of the key market players operating in the Peripherally Inserted Central Catheter (PICC) devices include B. Braun Melsungen AG, AngioDynamics, Cardinal Health, BD, Teleflex Incorporated, Argon Medical, Cook Group, ICU Medical Inc., Medical Components Inc., Access Vascular, Vygon, Meditech Devices, Biowy Corporation, Polymedicure, Footprint Medical Inc., SILMAG GROUP, pfm medical ag, Healthline Medical Products, INSUNG MEDICAL Co., Ltd., Equipos de Biomedicina de Mexico, S.A. de C.V, and others.

5. Which region has the highest share in the Peripherally Inserted Central Catheter (PICC) Devices market?

North America is expected to dominate the overall Peripherally Inserted Central Catheter (PICC) Devices market during the forecast period from 2024-2030. Owing to the significance of key growth factors such as the increasing incidence of cancer, infectious, and other diseases, along with their risk factors, increasing healthcare expenditure, favourable reimbursement policies, rising research and development activities in the region including launches and approvals, among others, the market for peripherally inserted central catheter devices is expected to witness prosperity in the region during the forecast period from 2024-2030.