Key Factors Driving the Growth of the Central Venous Catheters Market
Reports and Data has conducted an analysis of the global Central Venous Catheters Market, which projects that the market will reach a value of USD 2.38 billion by 2027 with a Compound Annual Growth Rate (CAGR) of 7.1%.
Central venous catheters are medical devices that are used to treat a range of cardiovascular diseases and other chronic disorders. They are inserted into large veins, often in the arm or chest, through the skin, and are used to administer medicines, nutrients, fluids, blood, and blood products. They are also used to measure Central Venous Pressure (CVP), hemodialysis, and chemotherapy over a long period of time.
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The major driving factors for the growth of the central venous catheters market are the global rise in the geriatric population who are susceptible to cardiovascular diseases, government initiatives and grants, and the increase in investment by private companies on R&D activities of central venous catheters.
Additionally, manufacturers are expanding their customer base and enhancing their product portfolio through strategic business expansion activities, such as mergers and acquisitions. CVS Health and Aetna's merger in November 2018 is one such example.
The primary indications for the central venous catheters market are cardiomyopathy and myocardial infarction. The Asia Pacific region is projected to be the highest growing market during the analysis period, followed by Europe. North America is found to be the largest revenue-generating segment due to the high burden of lifestyle disorders and technological advancements in the region.
Increasing acceptance of multiple lumen catheters and advanced treatments is expected to drive the central venous catheters market. Antimicrobial central venous catheters are expected to grow significantly during the study period, and coronary artery diseases and other CVS diseases are expected to account for the largest share of the market.
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The primary key players in the central venous catheters market are Edwards Life sciences, Angio Dynamics, C.R.Bard, Lepu Medical Technology, Kimal, Terumo Corporation, Vygon (U.K.) Ltd, Becton Dickinson Company, Medrad (Bayer AG), Johnson and Johnson, Rochester Medical Co, and many more.
The report forecasts revenue growth at a global, regional and country level, and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2027. The market has been segmented by product type, property type, design type, composition type, sales channel type, end-user type, and region.
The central venous catheters market is expected to expand at a notable CAGR in the Asia Pacific region due to increasing awareness regarding medical devices in developing countries and rising research initiatives in countries such as Japan and China. North America dominates the global central venous catheters market due to a large patient pool, technological advancements, and high acceptance of advanced treatments in the region.
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