Central Venous Catheter Market Estimated to Witness High Growth Owing to Rising Prevalence of Chronic Diseases

 

Central Venous Catheter Market

Central venous catheters are thin, flexible tubes placed in large veins that are used to give medicines, fluid, nutrients or blood products directly into a major vein located close to the heart. These catheters are typically used for patients who need frequent or long-term treatments and medicines and for patients with chronic diseases.

The global central venous catheter market is estimated to be valued at US$ 2388.55 Mn in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The growth of the central venous catheter market is primarily driven by the rising prevalence of chronic diseases such as cancer and cardiovascular diseases worldwide. According to the World Health Organization (WHO), cancer is the second leading cause of death globally and was responsible for nearly 10 million deaths in 2020. Similarly, cardiovascular diseases are the leading global cause of death, accounting for over 17.9 million deaths annually. The increasing cases of such chronic and life-threatening diseases require long-term central venous treatment and IV administration of drugs and nutrients, thereby boosting the demand for central venous catheters. Further, technological advancements in catheter design and coating technologies that enhance the biocompatibility and reduce infections also support the market growth over the forecast period.

SWOT Analysis

Strength: Central venous catheters have several advantages over peripheral intravenous catheters. They can deliver medications and fluids directly into large veins near the heart. This allows for higher flow rates and administration of caustic or irritating medications. Central lines also remain in place for weeks or months, limiting the need to insert new peripheral lines.

Weakness: Placement of central lines requires ultrasonic or X-ray guidance and sterile technique to avoid complications. They also carry higher risks of infection and thrombosis due to their direct entry into central blood vessels. Removal also requires specialized technique and training.

Opportunity: The rising geriatric population is increasing the incidence of chronic diseases that often require long-term venous access. This is driving the need for reliable central lines to deliver targeted therapies, fluids, and nutrients over prolonged periods. Growth in home healthcare is also expanding the markets for safely managing central lines outside of facilities.

Threats: Alternative delivery methods such as peripheral intravenous and subcutaneous routes reduce reliance on central lines for some therapies. New drug delivery technologies may enable administration of irritating medications without a central line. Greater emphasis on antimicrobial stewardship may also curb overuse of lines and associated infections.

Key Takeaways

The global central venous catheter market is expected to witness steady growth over the forecast period driven by the high demand for long-term venous access devices. The rising prevalence of chronic conditions globally is a key factor driving market expansion. The global Central Venous Catheter Market is estimated to be valued at US$ 2388.55 Mn in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023 to 2030

Regional analysis suggests North America will continue dominating the market owing to developed healthcare systems and widespread medical coverage. However, Asia Pacific is poised to offer lucrative opportunities with escalating healthcare investments and a huge patient population.

Key players operating in the central venous catheter market include Albemarle Corporation, W R Grace, BASF, Haldor Topsoe, Honeywell UOP, Clariant, Axens, Johnson Matthey, China Petroleum and Chemical Corporation, and Shell Catalyst & Technologies. These leaders are focusing on new product introductions particularly antimicrobial catheter models and integrating digital technologies for remote line management to strengthen their market position.

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