A central venous catheter is a flexible, small tube that is put into a vein, generally below the right collarbone, and guided into the superior vena cava, a major vein above the right side of the heart. It is utilized in the administration of intravenous fluids, blood transfusions, chemotherapy, and other medications. Blood samples are also collected via the catheter.
The central venous catheter market value was worth $1.18 billion in 2021, and it will reach $1.93 billion by 2030 at a 5.48% CAGR during 2021-2030.
Impact of COVID-19 on global central venous catheter market
Over the projected period, the COVID-19 pandemic is expected to hamper growth in the global central venous catheter market. For instance, a study assessing the effects of the COVID-19 outbreak on Stage II and Stage III colon cancer patients receiving adjuvant chemotherapy treatment in China was published in the Canadian Cancer Research Journal’s Current Oncology in June 2020.
Additionally, it is anticipated that the decline in blood transfusions will restrict the expansion of the global market for central venous catheters. For example, a report published in the journal Transfusion Medicine and Hemotherapy in November 2021 claimed that the COVID-19 pandemic created increased difficulties for blood transfusion due to lockdown, social isolation, and concern over blood virus transmission.
Key industry drivers
One of the key drivers propelling the overall market expansion is the increasing prevalence of cardiovascular disorders such as coronary artery disease, cardiomyopathy, myocardial infarction, atherosclerosis, etc. The American Heart Association (AHA) reported that 868,662 people died in 2017 as a result of CVDs. Coronary heart disease (CHD) was the leading cause of mortality in the United States in 2018 (42.1%), followed by stroke (17.0%), cardiac failure (9.6%), arterial disorders (2.9%), high blood pressure (11.0%), and other CVDs (17.4%).
Because of the increase in CVDs, there has been an increase in the use of various types of CVCs, such as a percutaneous central venous catheter, subclavian vein catheter, femoral venous catheter, non-tunneled percutaneous central venous catheter, triple lumen central venous catheter, subclavian central venous catheter, PICC line catheter, internal jugular vein catheter for dialysis, implanted port, etc. are accelerating the growth of this market.
Additionally, the market is expanding considerably due to the rising geriatric population, quick technological improvements, and increasing need for antimicrobial catheters. Around 727 million individuals worldwide will be 65 years of age or older in 2020, and by 2050, the figure is anticipated to reach over 1.5 billion as per the UNESA (United Nations Department of Economic and Social Affairs)
Market restraints
Deep venous thrombosis (DVT), infections, thrombophlebitis, and catheter dislodgement are all factors limiting the total market growth.
Key Opportunity
The demand for Central Venous Catheter is expanding all over the world because it offers certain unique advantages, such as the capacity to carry fluids into a larger vein and stay in the body for a longer amount of time than typical. This increase in demand for these catheters, together with an increase in global government funding for surgical equipment R&D, is likely to create numerous opportunities in the future.
Market segmentation
On the basis of product type, the market is segmented into tunneled catheters and non-tunneled catheters.
- With a consistent CAGR in 2020, the ‘Non-Tunnelled Catheters’ segment held a significant position in the overall market. Factors such as the increase in awareness of the use of Non-Tunnelled Catheters during emergencies and an increase in the number of incisions around the world are stimulating the growth of this market segment.
In terms of property, the central venous catheter market is segmented into antimicrobial catheters, non-antimicrobial catheters, and others.
- With a market share of more than 35.732%, the antimicrobial catheter segment ruled the overall market in 2020. The growth of this market segment is due to the increased focus on the prevention of healthcare-associated infection globally.
On the basis of design, the central venous catheter market is segmented into single-lumen, double-lumen, and multi-lumen.
- In 2020, the ‘Double Lumen’ sector completely dominated the market, accounting for 17.832% of the total market share. In 2020, the overall share of the Double-Lumen segment in the United States, Australia, Canada, China, and Japan was up to USD 161.134 million. The increased frequency of ARF (acute renal failure) treatments in ICUs is driving overall market growth in this region.
In terms of composition, the industry is segmented into silicone, polyurethane, and others.
- In 2020, the silicone segment ruled the overall market with a revenue share of more than 14.372%. Silicone material catheters are broadly used because they are flexible and can be used for long as a tunneled CVC (Central Venous Catheters).
On the basis of end-user, the central venous catheter market is segmented into hospitals, outpatient facilities, and long-term care facilities.
- Due to the increased use of CVCs in ICU and CICU (cardiac critical care units) worldwide, the hospital segment held a significant position in the market with a consistent CAGR.
Regionally, the market is analyzed across Europe, North America, Asia Pacific, and LAMEA.
- With a considerable CAGR, North America ruled the overall market in 2020. The United States held about 33.917% (or USD 384.763 Mn) of the global market share in 2020.The fastest growth rate was in Asia-Pacific, with China contributing up to a CAGR of 7.368%.
With an overall CAGR of 5.137% in Europe, Germany had the largest market share, and by 2030, it is predicted that the rest of Europe’s market will be worth USD 223.135 million.
Major players
- Boston Scientific Corporation
- Cook Medical
- Becton, Dickinson, and Company
- ConMed Corporation
- B. Braun Melsungen AG
- Smiths Medical
- Biosensors International Group Ltd
- Edwards Lifesciences Corporation
- Intra Special Catheters GmbH
- Medical Components, Inc.
- ZOLL Medical Corporation
- Terumo Corporation
- Other Players
