Peripherally Inserted Central Catheter (PICC) Global Market Report 2024 - By Demand, Size, Share, Growth, Outlook By 2033

The peripherally inserted central catheter (PICC) market size has grown strongly in recent years. It will grow from $1.01 billion in 2023 to $1.08 billion in 2024 at a compound annual growth rate (CAGR) of 6.61%. The growth in the historic period can be attributed to shift towards outpatient care, aging population, reduction in healthcare costs, improved patient comfort and safety, expansion of interventional radiology.

The peripherally inserted central catheter (PICC) market size is expected to see steady growth in the next few years. It will grow to $1.32 billion in 2028 at a compound annual growth rate (CAGR) of 5.17%. The growth in the forecast period can be attributed to expansion of interventional radiology practices, focus on infection prevention and control, rising healthcare expenditure, patient-centered care initiatives. Major trends in the forecast period include technological advancements, personalized medicine, minimally invasive procedures, integration of digital health technologies, regulatory compliance and standardization.

Market Overview -
A peripherally inserted central catheter (PICC) is a long, thin, flexible tube inserted into a peripheral vein, typically in the arm, and advanced until the tip reaches a larger vein near the heart called the superior vena cava. It is commonly used in healthcare settings to provide long-term access to intravenous (IV) therapies such as chemotherapy, antibiotics, nutrition, and other medications.

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Impact Of Rising Chronic Diseases On The Peripherally Inserted Central Catheter (PICC) Market
The growing prevalence of chronic diseases is expected to propel the growth of the peripherally inserted central catheter market in the coming years. Chronic diseases refer to long-term health conditions that persist over an extended period and often progress slowly, such as cancer, diabetes, hypertension, stroke, heart disease, respiratory diseases, arthritis, obesity, and oral diseases. Peripherally inserted central catheters (PICCs) are employed in chronic conditions to provide long-term intravenous access to drugs, fluids, parenteral nutrition, and blood draws. For instance, in January 2023, according to the National Library of Medicine, a US-based agency, the number of individuals aged 50 years and older having one or more chronic illnesses is projected to rise by 99.5%, reaching 142.66 million by 2050, up from 71.522 million in 2020 in the United States. Therefore, the growing prevalence of chronic diseases is driving the growth of the peripherally inserted central catheter (PICC) market.

Competitive Landscape -
Major companies operating in the peripherally inserted central catheter (picc) market report are Cardinal Health Inc., Medtronic plc, Becton Dickinson and Company, Boston Scientific Corporation, B. Braun Medical Ltd, Teleflex Incorporated, ICU Medical Inc., Cook Medical, AngioDynamics, Argon Medical, PFM Medical Inc., Poly Medicure Ltd., Kimal Plc, Utah Medical Products Inc., Martech Medical Products, NeoMedical, Medical Components Inc, DeltaMed Solutions Inc., Access Vascular Inc., Medi-Tech Devices, Footprint Medical Incorporated, Biowy Corporation, Husk Medical B.V., Medcomp, Vygon Ltd, Haolang Technology (Foshan) Limited Co. Ltd.

Innovative Advances Peripherally Inserted Central Catheter (PICC) Insertion Devices Redefining Patient Care
Major companies operating in the peripherally inserted central catheter (PICC) market are focused on innovative technologies, such as peripherally inserted central catheter insertion devices, to better serve their customers with advanced features. Peripherally inserted central catheter insertion devices are medical instruments specifically designed for the placement of peripherally inserted central catheters (PICCs) to insert them into a peripheral vein, typically in the arm, and guide them through the vasculature until the tip reaches a larger vein near the heart. For instance, in May 2023, Teleflex Incorporated, a US-based medical device company, launched two new peripherally inserted central catheter insertion devices, the Arrow VPS Rhythm DLX Device and the NaviCurve Stylet. The VPS Rhythm DLX Device uses cardiac electrical activity to offer real-time catheter tip position information. The device also has an optional integrated ultrasonography with a catheter-to-vessel ratio tool that supports consistency in vessel measuring. This gadget, in conjunction with the Arrow PICC packed with the NaviCurve Stylet, provides new tip navigation or location technology. The VPS Rhythm DLX Device featuring TipTracker Technology removes the necessity for a confirmatory x-ray, allowing the physician to insert smoothly via ultrasound vascular evaluation, peripherally inserted central catheter navigation, and final tip verification in the bottom third of the superior vena cava.

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Key Segments -
The peripherally inserted central catheter (picc) market covered in this report is segmented -
1) By Device Type: Power-Injectable, Non-Power Injectable
2) By Lumen Type: Single, Double, Triple
3) By Kit Type: Tip-Placement Kit, Conventional Kit
4) By End User: Hospitals and Clinics, Ambulatory Surgical Centers, Catheterization Laboratories

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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