Catheter Stabilization Device Market | Ongoing Trends and Recent Developments | Major Key Players like Baxter International, Inc. (US), and Cardinal Health (US), ConvaTec Inc. (UK)

The Catheter Stabilization Device/Catheter Securement Device Market growth is largely driven by factors such as the growing global prevalence of lifestyle diseases such as diabetes and cardiovascular diseases, the rising healthcare expenditure in developing economies as well as the development of technically sound securement devices. Emerging economies are expected to provide a wide range of growth opportunities for players in the market.

What the Market Looks Like?

Predicted to grow at a CAGR of 7.5% during the forecast period, the global Catheter Stabilization Device Market is estimated to reach USD 1.6 billion by the end of 2024. In 2019, North America commanded the largest share of the market.

On the basis of type, the Catheter Securement Devices Market is segmented into arterial securement devices, central venous catheter securement devices, peripheral securement devices, chest drainage tube securement devices, abdominal drainage tube securement devices, epidural securement devices and all site devices. In 2019, peripheral securement devices are expected to account for the largest market share. Growing use of these kits in home care settings and hospitals is driving the growth of this segment.

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By end user, the Catheter Stabilization Device Market is segmented into hospitals, home care settings, emergency clinics and diagnostic centers. In 2019, hospitals are expected to account for the largest share of 48% of the market. The large share of this segment can be attributed to factors such as the rapidly growing aging population, the increase in hospital reimbursements for surgeries performed in hospitals among others.

The Catheter Stabilization Device Market, by application, is segmented into cardiovascular procedures, respiratory procedures, gastric and oropharyngeal procedures, general surgery, urological procedures, radiology, and other applications. In 2019, the cardiovascular procedures segment accounted for the largest share of the Catheter Securement Devices Market. The large share of this segment can be attributed to the increasing incidence of cardiovascular diseases such as stroke and heart disease across the globe.

What Drives the Market?

The growth of the global market for Catheter Stabilization Device is primarily influenced by the following factors:

• Increasing Prevalence of Lifestyle Diseases.
• Cost-Benefits of Securement Devices.
• Emerging Economies.

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Geographical growth scenario of Catheter Stabilization Device Market:

Geographically, the Catheter Stabilization Device Market has been studied for North America, Europe, Asia Pacific, and the Rest of the World. In 2019, North America commanded the largest share of the Catheter Securement Devices Market. The large share of this market segment can be attributed to the increasing incidence of diabetes and heart diseases as well as the increasing adoption of technically sound securement devices in the region.

Leading market players and strategies adopted:

The prominent players in the Catheter Stabilization Device Market include 3M Company (US), C. R. Bard, Inc. (US), B. Braun Melsungen AG (Germany), Baxter International, Inc. (US), and Cardinal Health (US), ConvaTec Inc. (UK), Merit Medical Systems, Inc. (US), Smiths Group plc (UK), Centurion Medical Products (US), and M.C. Johnson Company, Inc. (US).

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