May 2020 | Report Format: Electronic (PDF)
The global catheter stabilization devices market size is expected to reach USD 1.83 billion by 2025, according to a new report by Grand View Research, Inc. Increasing usage of catheters, growing demand for minimally invasive surgeries, increasing prevalence of lifestyle-related diseases, rising number of surgeries being performed and population aging are key contributors to market growth.
Intravascular catheters have become an essential part of patient care in hospitals and other healthcare settings. According to the Joint Commission, 3 million central venous catheters (CVC) are used in the U.S. each year and around 250,000 CVCs are used in the UK annually. However, the rising use of catheters increases the risk of bloodstream infections related to its usage. Dislodgement, migration, accidental removal, or occlusion of catheters may lead to infections and complications and may pose a risk to patient safety. Thus, surging number of catheter placements is one of the key contributors to the growth of this market.
Growing awareness among healthcare professionals and increasing need to reduce the burden of catheter-associated infections are also expected to boost the adoption of stabilization devices. Catheter securement is crucial for reducing related infections & complications and thus, is gaining significance in patient care. Various national and government organizations, such as CDC, Australia and New Zealand Urological Nurses Society (ANZUNS), and Occupational Safety and Health Administration (OSHA), issue guidelines that recommend the use of securement devices in treatment of patients.
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Further Key Findings From the Report Suggest:
The arterial securement devices segment held majority of the revenue share in 2016 due to frequent and widespread use of arterial catheters in modern healthcare practices
CVC securement devices are expected to exhibit highest growth during the forecast period due to their increasing usage in cardiac procedures
Hospitals dominated the end-use segment in 2016 due to the large number of surgeries performed in hospitals and high prevalence of infections
North America dominated the global catheter securement devices market owing to increasing awareness levels, aging population, and large usage of catheters
Some of the key players include C.R. Bard, Inc.; Baxter; 3M; Centurion Medical Products; B Braun Melsungen AG; Merit Medical Systems, Inc.; ConvaTec, Inc.; TIDI Products, LLC; and Smiths Medical