About the Catheter Stabilization Device Market
Catheters are widely used in hospitals, as 70% of patients require peripheral venous access during their hospital stay. Catheters are used in healthcare settings, such as long-term care facilities, clinics, and nursing homes, to administer drugs and fluids. They need to be secured properly to reduce complications, such as needlestick injuries, phlebitis, catheter-associated healthcare infections, and to improve patient comfort and safety of healthcare provider. Catheter stabilization devices are mainly used in minimally invasive surgical procedures. A catheter stabilization device includes a leg strap and an adhesive or non-adhesive stabilizer for long or short-term catheterization.
Technavio’s analysts forecast the Global Catheter Stabilization Device Market to grow at a CAGR of 8.41% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the Global Catheter Stabilization Device Market for 2016-2020. To calculate the market size, Technavio considers revenue generated from the sales of intravenous catheter stabilization devices, which are categorized as follows:
Technavio Announces the Publication of its Research Report – Global Catheter Stabilization Device Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Catheter Stabilization Device Market: Becton, Dickinson and Company (BD), C. R. Bard, 3M and TIDI Products.
Other Prominent Vendors in the market are: Baxter, B. Braun Medical, BioDerm, Centurion Medical Products, ConvaTec, Dale Medical Products, Interrad Medical, MAQUET, M. C. Johnson, Merit Medical Systems, Smiths Medical, Tangent Medical Technologies, and Victus.
Commenting on the report, an analyst from Technavio’s team said: “An emerging trend in this market is the adoption of integrated or closed catheter systems. Integrated or closed catheter systems come with in-built catheter stabilization devices. These advanced, high-performance catheters consist of a closed system for controlling the flow of blood and a smooth, tapered hub for easy insertion. These catheters are incorporated with an in-built safety system that does not require user activation, but gets activated automatically, resulting in minimized chances of accidental needle stick injury. They provide benefits such as enhanced safety of patients, high stability with a 360-degree stabilization frame, and maximum patient comfort. For example, products such as NovaCath integrated IV catheter system manufactured by Tangent Medical Technologies and BD Nexiva closed IV catheter system by Becton, Dickinson and Company offer benefit such as advanced catheter stabilization.”
According to the report, a key driver of market growth is the rise in the geriatric population around the world. According to the statistics provided by the UN, in 2013, the global population of people in the age group of 60 years or above amounted to 841 million (11.7% of the global population), and this is expected to reach two billion by 2050. There has also been a rise in incidences of cardiovascular and orthopedic disorders in people in the age group of 60 years and above. Also, chronic diseases associated with functional changes in the aging population, such as various types of cancers and end-stage renal disease, which require critical care and catheterization, are on the rise due to the increase in the population of older adults. The above-stated factors have led to a surge in the number of patients undergoing treatments and surgeries. This in turn has led to an increase in demand for catheters to deliver drugs and nutrition, and to collect blood samples.
Further, the report states that one challenge that could restrict market growth is the safety concern associated with the improper use of catheter stabilization devices.
Becton, Dickinson and Company (BD), C. R. Bard, 3M, TIDI Products, Baxter, B. Braun Medical, BioDerm, Centurion Medical Products, ConvaTec, Dale Medical Products, Interrad Medical, MAQUET, M. C. Johnson, Merit Medical Systems, Smiths Medical, Tangent Medical Technologies, Victus.