Central Venous Catheter Market

Global Central Venous Catheter Market Size (2023 to 2028)

The global central venous catheter market was valued at USD 1.29 billion in 2023 and is predicted to be worth USD 1.72 billion by 2028, growing at a CAGR of 5.88% from 2023 to 2028.

MARKET DRIVERS:

The growing prevalence of chronic diseases such as cardiovascular disorders, cancer, and kidney diseases among others is one of the key factors driving the growth of the central venous catheter (CVC) market. These diseases require long-term intravenous therapies and treatments. According to a WHO report, cardiovascular diseases were one of the leading causes of death globally in 2019, when around 17.9 million people died from cardiovascular diseases, which comprises 32% of all global deaths. Therefore, the growing need for cardiac surgeries to prevent deaths will lead to an increase in the usage and demand of central venous catheters, thus driving market growth. Central venous catheters are largely used for providing chemotherapy, and other drugs to patients suffering from cancer. As per the data cited by the World Health Organization 2022, around 2.26 million cases of breast cancer, 2.21 million cases of lung cancer, 1.93 million cases of colon and rectum cancer, 1.41 million cases of prostate, and 1.09 million cases of stomach cancer were reported in the year 2020. Therefore, the increasing prevalence of cancer is going to positively impact the central venous catheter market in the upcoming years.

The growing geriatric population, increasing investments in R&D activities and rising number of initiatives from various governments to treat people with chronic diseases further fuel the growth rate of the market. The increase in the geriatric population globally is expected to bolster the central venous catheter market as the elderly are more prone to developing chronic diseases, thereby increasing the demand for CVC in the treatment of patients. Continuous advancements in catheter technology have improved the safety, efficacy and convenience of CVCs. Manufacturers have introduced innovations such as antimicrobial coatings, improved materials, and integrated safety features to reduce the risk of infections and other complications associated with CVC use. Technological advancements attract healthcare providers and contribute to market growth. Moreover, the central venous catheters market manufacturers are involved in strategic business expansion activities to enhance their product portfolio and increase their customer base, which will also spur market growth.

MARKET RESTRAINTS:

The rising number of central venous catheter recalls and infections may act as restraints to the central venous catheter market growth. The use of CVCs carries the risk of complications, including catheter-related bloodstream infections (CRBSIs), thrombosis, mechanical complications, and mispositioning. CVCs are subject to strict regulatory standards and requirements to ensure safety and efficacy. The process of obtaining regulatory approvals and clearances can be time-consuming and costly for manufacturers. Stringent regulatory requirements can create barriers to entry for new market players and impact the market's overall growth.

Impact of COVID-19 on the global central venous catheter market:

The COVID-19 pandemic has led to a surge in critically ill patients requiring intensive care and hospitalization. Many of these patients may need central venous access for the administration of fluids, medications, and other necessary treatments. This increased demand for CVCs has resulted in a higher consumption rate and subsequent market growth. The pandemic has accelerated research and innovation in the field of medical devices, including central venous catheters. Efforts have been made towards developing catheters with improved features that allow the prevention of infections. Although the pandemic has driven demand for CVCs in certain areas, it has also brought challenges to the market. Supply chain disruptions, manufacturing delays, and shifts in healthcare settings have affected the availability and distribution of CVCs. Likewise, the global central venous catheter market has experienced a mixed impact from the COVID-19 pandemic.

REPORT COVERAGE: 

This research report on the global central venous catheter market has been segmented and sub-segmented based on the product type, design, end-user, and region.

Global Central Venous Catheter Market – By Product Type

• Tunnelled
• Non-tunnelled

Based on the product type, the tunneled central venous catheter segment holds the highest share of the central venous catheter market during the forecast period owing to the benefits and applications associated with tunneled central venous catheters. It is a universally applicable device as it can be inserted at multiple sites and is functional in nearly all types of patients. Tunneled central venous catheters can be used to give IV therapy easily and reduce patient discomfort as they are known to be very secure in the vein. The catheter also prevents other complications such as a burning sensation.

Global Central Venous Catheter Market – By Design

• Single Lumen
• Double Lumen
• Multiple

Based on the design, the multiple central venous catheter segment accounts for the highest share of the global market during the forecast period.

Global Central Venous Catheter Market – By End-User

• Hospitals and Clinics
• Ambulatory Surgical Centres
• Others

Based on end-user, the hospitals and clinics segment currently accounts for the major share of the market and is anticipated to remain dominant over the forecast period due to the increasing usage of central venous catheters in ICUs.

Global Central Venous Catheter Market – By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Rest of the World

Based on geography, North America holds the dominant position in the central venous catheter market in 2022. This can be attributed to the rising prevalence of different cancer types and the increased innovations in the United States. The demand for the central venous catheters market is going to increase during the forecast period owing to the presence of major key players in the market and a large pool of patients.

Asia Pacific is expected to be the fastest-growing market in terms of revenue generation with a CAGR of over 6% over the forecast period, while Europe is also anticipated to exhibit a healthy CAGR despite a decline in population.

KEY MARKET PLAYERS:

Edwards Life Sciences, Angio Dynamics, C.R. Bard, Lepu Medical Technology, Kimal, Terumo Corporation, Vygon (U.K.) Ltd, Becton Dickinson Company, Medrad (Bayer AG), Johnson and Johnson, Rochester Medical Co, B. Braun Melsungen AG, ZOLL Medical Corporation, VOGT Medical, Insung Medical, Cook Group, Teleflex Incorporated, Poly Medicure Ltd., ICU Medical Inc., Medline Industries, Medtronic, Prunus Medical, Merit Medical Systems, SCW Medicath Ltd, Prodimed, Smith Medical and TuoRen are some of the major players in the CVC market.

RECENT HAPPENINGS IN THE MARKET:

• In March 2022, the U.S. Food and Drug Administration (FDA) approved the resubmission of the New Drug Application (NDA) for DefenCath, according to a statement from CorMedix Inc. DefenCath is recommended for patients with renal failure who are receiving continuous hemodialysis with a central venous catheter to lower catheter-related bloodstream infections (CRBSIs).
• In February 2021, Piccolo Medical's SmartPIC System, which guides the placement of peripherally placed central catheters, was approved by the US FDA in February 2021.