Catheter Stabilization Device/Catheter Securement Device Market by Product ((Arterial, CVS (Portal, Femoral), Chest, Epidural, Peripheral (Nasogastric, Endotracheal, Foley)), Application (Cardiovascular, Respiratory), End User - Global Forecast to 2024
“Catheter securement devices market to register a CAGR of 7.5% from 2019 to 2024”
The global catheter securement devices market is projected to reach USD 1.6 billion by 2024 from USD 1.1 billion in 2019, at a CAGR of 7.5% from 2019 to 2024. The growth of the market is largely driven by factors such as the growing global prevalence of lifestyle diseases such as heart diseases, strokes diabetes, and the increasing healthcare expenditure across the countries. Developing economies are expected to provide a wide range of growth opportunities for players in the market.
“Peripheral securement devices accounted for a significant share of the market in 2019”
By product type, the catheter securement devices market is segmented into arterial securement devices, central venous catheter securement devices, peripheral securement devices, chest drainage tube securement devices, abdominal drainage tube securement devices, epidural securement devices and all site devices. The central venous catheter securement devices is the fastest growing segment due to the rising incidence of cardiovascular diseases such as strokes and heart diseases.
“Cardiovascular procedures segment accounted for the largest share of the catheter securement devices market in 2019”
On the basis of application, the catheter securement devices market is segmented into cardiovascular procedures, respiratory procedures, gastric procedures, general surgery, urological procedures, radiology procedures and others. Catheter securement devices are used for stabilizing the catheters. This is done to reduce any kinds of catheter related infections. Such catheters are used in major procedures such as cardiovascular, respiratory, general surgeries.
“Hospitals segment accounted for the largest share of the catheter securement devices market in 2019”
On the basis of end user, the catheter securement devices market is segmented into hospitals, home care settings, emergency clinics and diagnostic centers. Of all these end-user segments, hospitals accounted for the largest share of the catheter securement devices market in 2019. The large share of this segment can be attributed to factors such as the rapidly growing aging population, the higher surgeries performed in the hospital settings and the increasing reimbursements in the hospital settings.
“North America dominated the catheter securement devices market in 2019”
North America, which includes the US, & Canada, accounted for the largest share of the catheter securement devices market. The growth in this market is primarily driven by the rising geriatric population, favorable government initiatives, increasing healthcare expenditure, improved healthcare infrastructure coupled with the rising prevalence of lifestyle diseases.
Breakdown of supply-side primary interviews, by company type, designation, and region:
By Company Type: Tier 1 (20%) , Tier 2 (45%), and Tier 3 (35%)
By Designation: C-level (30%), Director-level (20%), and Others (50%)
By Region: North America (35%), Europe (24%), Asia (25%), and RoW (16%)
The major players operating in this market are 3M Company (US), C. R. Bard, Inc. (US), B. Braun Melsungen AG (Germany), Baxter International, Inc. (US), and Cardinal Health (US), ConvaTec Inc. (UK), Merit Medical Systems, Inc. (US), Smiths Group plc (UK), Centurion Medical Products (US), and M.C. Johnson Company, Inc. (US). Product launches, expansions, agreements and acquisitions are the key growth strategies followed by most players in this market.
This report studies the catheter securement devices market based on product type, application end user and region. The report also analyzes factors (such as drivers, restraints and opportunities) affecting market growth. It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total catheter securement devices market. The report forecasts the revenue of the market segments with respect to four major regions.
Reasons to Buy the Report:
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on catheter securement devices offered by the top 10 players in the catheter securement devices market. The report analyzes the catheter securement devices market by type, end user, application, and region.
Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various securement devices across key geographic regions.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the catheter securement devices market
Competitive Assessment: In-depth assessment of market shares and strategies of the leading players in the catheter securement devices market
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook