Central Venous Catheter Market Growth Analysis With Top Players AngioDynamics, Inc., C. R. Bard, Inc., Teleflex Incorporated, B. Braun Melsungen AG

Central venous catheters play a major role in modern healthcare, as they allow easy administration of intravenous fluids, blood products, medications, and parenteral nutrition, as well as provide hemodialysis access and hemodynamic monitoring.

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The global central venous catheter market size was valued at US$ 1,167.4 million in 2017, and is expected to exhibit a CAGR of 6.2% over the forecast period (2018 – 2026).

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).

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.

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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.