The Peripherally Inserted Central Catheters Market is expected to reach US$ 1058.6 Million at a CAGR of 5.8% from 2024. Tech-driven innovation is the trend that the healthcare vertical would be resting on in the forecast period. With precision medicine being the focal point, extensive research is being carried out in every arm of the healthcare vertical. The status quo is expected to stay unchanged even in the forecast period.
Persistence Market Research delivers key insights on the global peripherally inserted central catheters market in its published report titled “Global Market Study on Peripherally Inserted Central Catheters: Power Injected Peripherally Inserted Central Catheters Product Type Segment to Dominate the Market Through 2024 .” The global peripherally inserted central catheters market is anticipated to reach a market valuation of US$ 673.9 Mn by the end of 2016.
In terms of revenue, the global peripherally inserted central catheters market is projected to register a healthy CAGR of 5.8% over the forecast period (2016 – 2024) owing to various factors, regarding which Persistence Market Research offers vital insights in detail.
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Company Profiles
- Global Players
- AngioDynamic, Inc.
- Braun Melsungen AG
- Becton, Dickinson and Company
- R. Bard, Inc.
- Teleflex Incorporated
- Argon Medical Devices, Inc.
- Boston Scientific Corporation
- COOK MEDICAL INC.
- ICU Medical Inc.
- Medical Components, Inc.
- Medtronic, Inc
- Navilyst Medical, Inc.
- Vygon (UK) Ltd
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Market dynamics
Increasing healthcare expenditure, robust reimbursement policies, increasing preference for peripherally inserted central catheters by healthcare physicians, and increasing number of diseases requiring the application of peripherally inserted central catheters are some of the factors likely to boost the growth of the global peripherally inserted central catheters market over the forecast period.
However, factors such as increasing usage of midline catheters, lack of specialized professionals for catheterization, and high risk of bloodstream infections and deep vein thrombosis are likely to restrict market growth. Technological advancements in peripherally inserted central catheters and recent demand based innovations such as the introduction of anti-microbial peripherally inserted central catheters and anti-thrombogenic peripherally inserted central catheters will define the future landscape of the global peripherally inserted central catheters market.
Market forecast
The global peripherally inserted central catheters market is segmented on the basis of Product (Power Injected Peripherally Inserted Central Catheters, Conventional Peripherally Inserted Central Catheters); Design (Single Lumen, Double Lumen, Multiple Lumen); End User (Hospitals, Ambulatory Surgical Centers, Catheterization Laboratories); and Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
The Power Injected Peripherally Inserted Central Catheters product type segment dominated the global peripherally inserted central catheters market in revenue terms, accounting for 82.2% value share in 2015 and is expected to continue to do so throughout the forecast period. This segment is expected to grow with a healthy CAGR over the forecast period, owing to high adoption rate of newly launched products and better reimbursement policies.
The Multiple Lumen design segment is anticipated to account for 59.7% revenue share of the global peripherally inserted central catheters market by 2016 end. This segment is expected to expand at a CAGR of 6.7% over the forecast period due to increase in the number of cancer patients requiring multiple lumen peripherally inserted central catheters for better treatment. The Hospitals end user segment accounted for 68.3% value share in 2015 and is projected to account for 72.0% share by 2024 end.
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Among regions, North America dominated the global peripherally inserted central catheters market in revenue terms in 2015 and is expected to continue to do so throughout the forecast period. The North America peripherally inserted central catheters market is estimated to create absolute $ opportunity of US$ 19.8 Mn in 2017 over 2016.
North America and Europe are expected to account for 81.5% and 10.5% share respectively of the global peripherally inserted central catheters market in terms of value in 2016. Among emerging markets, Asia Pacific is estimated to exhibit a CAGR of 11.2% over the forecast period.
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