Central Venous Catheter Market Present Scenario and the Growth Prospects 2018 – 2026 By Global Players AngioDynamics, Inc., C. R. Bard, Inc., Teleflex Incorporated, B. Braun Melsungen AG, Medtronic Plc.

Central venous catheters consist of a long, thin tube that is inserted into a large vein to deliver medication, nutrition, intravenous fluids, and cancer medications. Different types of central venous catheters can be utilized by patients according to the duration of the treatment, which includes tunneled central venous catheters (CVC) and implanted ports for long term use, peripherally inserted central catheter (PICC) for intermediate term and nontunneled CVC for short term use.

Market Dynamics

Increasing prevalence of renal diseases is a major factor driving central venous catheter market growth. According to the research survey done by U.S. Renal Data System (USRDS), in 2017, around 440,000 patients are living with End-Stage Renal Disease (ESRD) in the U.S and require hemodialysis for survival annually. Moreover, introduction of innovative products and increasing requirement of long-duration IV therapies such as chemotherapy is expected to boost the market growth. For instance, in May, 2018, Pursuit Vascular, Inc., received U.S. Food and Drug Administration (FDA) clearance for a broader indication of its ClearGuard HD caps to include reduction in the incidence of central-line associated bloodstream infection (CLABSI) in hemodialysis patients with central venous catheters (CVCs).

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Increasing prevalence of cancer and renal diseases is expected to propel growth of central venous catheter market

Central venous catheterization is used for chemotherapy administration, total parenteral nutrition, administration of intravenous fluids, administration of blood and platelet transfusions, and other uses. High prevalence of cancer is expected to propel demand for central venous catheterization, which in turn is expected to drive the market growth. According to the World Health Organization (WHO), 2012, cancer is the second leading cause of morbidity and mortality worldwide, with around 14 million new cases registered in 2012 and in 2015, cancer was responsible for 8.8 million deaths worldwide. Moreover, WHO stated that the number of new cases is expected to rise by around 70% by 2030.

Similarly, according to the study by University of California, 2014, around 2 million people worldwide are affected by end stage renal disease (ESRD) and the number of patients diagnosed with the disease is expected to increase at a rate of 5-7% annually.

Increasing adoption of central venous catheters in North America is expected to bolster the market growth

North America holds dominant position in the global central venous catheter market, owing to high availability of catheters in medical settings. According to the survey by PavMed, 2016, around 7 million central vascular access devices are utilized annually in the U.S., which includes 400-500,000 implantable ports. Increasing prevalence of cancer in the region is also expected to boost the market growth. According to the American Cancer Society, 2017, cancer is the second most common cause of death in the U.S., which accounts for nearly 1 out of every 4 deaths.

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Key Players

Major players operating in the global central venous catheter market include, AngioDynamics, Inc., C. R. Bard, Inc., Teleflex Incorporated, B. Braun Melsungen AG, Medtronic Plc., Vygon Ltd., Cook Medical, Inc., Argon Medical Devices, Inc., ICU Medical, Inc., and Theragenics Corporation.

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This release was published on openPR.