According to Coherent Market Insights, the U.S. disinfecting cap market is estimated to be valued at US$ 359.3 million in 2019, and is expected to exhibit a CAGR of 10.7% over the forecast period (2019-2027).
Key Trends and Analysis of the U.S. Disinfecting Cap Market:
Key trends in the market include the increasing incidence of hospital acquired infections (HAI), product launches by market players, and collaboration and acquisition activities.
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According to the Centers for Disease Control (CDC) estimation in 2017, hospital acquired infection led to an estimated 1.7 million infections and 99,000 associated deaths annually in American hospitals. It is estimated that nearly, 32.0% of HAIs are urinary tract infections (UTIs), 22.0% are surgical site infections (SSIs), 15.0% are pneumonia, and 14.0% are bloodstream infections (BSIs).
Furthermore, according to research published in the Journal of Association of Vascular Access in 2018, disinfecting caps are efficient in reducing peripheral line associated bloodstream infections by around 80%.
Increasing product launches and approvals are expected to drive growth of the U.S. Disinfecting Cap market over the forecast period. For instance, in November 2018, Pursuit Vascular Inc. received the U.S. Food and Drug Administration’s (FDA) expanded clearance of ClearGuard HD caps for reduction in the incidence of central-line associated bloodstream infection (CLABSI) in hemodialysis patients with central venous catheters (CVCs).
Furthermore, key players operating in the market are focused on adopting acquisition and collaboration strategies in order to expand their product offerings. For instance, in February 2017, Merit Medical Systems, Inc. acquired the Critical Care business segment of Argon Medical Devices, Inc. and Catheter Connections, Inc. This acquisition of the critical care product portfolio is expected to broaden Merit’s product offerings and geographic presence.
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Key Market Takeaways:
- The U.S. disinfecting cap market is expected to exhibit a CAGR of 10.7% over the forecast period owing to increasing incidence of hospital acquired infections and product launches by key players. According to a survey by Rhode Island Hospital in 2017, every year, around 200 million peripheral venous catheters are inserted in adult patients admitted in U.S. hospitals. Moreover, according to Rhode Island Hospital, the incidence rate of bloodstream infections associated with the use of peripheral IV catheters is about 0.18%, representing 2-3 infections per 1,000 patients.
- Key players operating in the U.S. disinfecting cap market include ICU Medical, C.R. Bard, Becton, Dickinson and Company, 3M, Merit Medical Systems and Other prominent players.
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- U.S. Disinfecting cap Market, By Application:
- Central Venous Line
- Peripheral IV Catheters
- U.S. Disinfecting cap Market, By End User:
- Hospital and Clinics
- Ambulatory/Outpatient Surgical Centers
- Company Profiles
- ICU Medical*
- Company Overview
- Material Portfolio
- Financial Performance
- Key Highlights
- Market Strategies
- R. Bard
- Becton, Dickinson and Company
- Merit Medical Systems
- ICU Medical*
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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