U.S. Central Venous Catheter Market Estimated To Witness High Growth Owing To Rising Prevalence Of Chronic Diseases
The U.S. Central Venous Catheter Market is estimated to be valued at Us$ 1086.86 Mn in 2023 and is expected to exhibit a CAGR Of 6.2% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Central venous catheters are medical devices that are inserted into large veins near a person's heart or neck. They are mainly used for delivering medication, blood transfusions or intravenous fluids into the bloodstream, as well as monitoring central venous pressure. Common uses for central venous catheters include cancer treatment, long-term antibiotic therapy, parenteral nutrition, and hemodialysis.
Market Dynamics:
The growth of the U.S. central venous catheter market is mainly driven by the increasing prevalence of chronic diseases such as cancer and kidney diseases that require intravenous therapy. According to the Centers for Disease Control and Prevention (CDC), in 2021, around 1.9 million new cancer cases are expected to be diagnosed in the U.S. Further, rising geriatric population who are more susceptible to diseases is also contributing to the demand for central venous catheters. However, risks associated with central venous catheters such as infection and thrombosis may hinder the market growth.
SWOT Analysis
Strength:
- Well established market in the U.S. with presence of major players.
- Growing aging population and increasing chronic diseases driving the need for catheters.
- Advancements in catheter technology and materials enhancing safety, efficacy and functions.
Weakness:
- Risk of infections associated with catheter insertion and use.
- Requirement of trained medical professionals for catheter placement increasing procedure costs.
Opportunity:
- Rising hospital admissions and surgeries presenting larger patient pool for catheter procedures.
- Development of novel antimicrobial coatings and surfaces reducing infection risks.
Threats:
- Stringent regulatory approvals for new catheter products lengthening time-to-market.
- Availability of alternative vascular access devices challenging catheter demand.
Key Takeaways
The Global U.S. Central Venous Catheter Market Size is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing hospital admissions, prevalence of chronic diseases and growth in geriatric population requiring long-term venous access.
Regional analysis:
North America is expected to dominate the U.S. Central Venous Catheter Market over the forecast period owing to well-established healthcare facilities, growing need for long-term venous therapies and strong presence of key market players in the region.
Key players:
Key players operating in the U.S. Central Venous Catheter Market are AngioDynamics, Inc, C.R. Bard, Inc, Teleflex Incorporated, B. Braun Melsungen AG, Medtronic Plc, Vygon Ltd., Cook Medical, Inc., Argon Medical Devices, Inc.,ICU Medical, Inc.,Theragenics Corporation, Becton, Dickinson and Company,icumedical, Polymedicure, Lepu Medical Technology (Beijing) Co.,Ltd., VOGT MEDICAL, Â Gilead Sciences, Inc and ZOLL Medical Corporation
Read More : https://marketinsightsminds.blogspot.com/2023/11/the-us-central-venous-catheter-market.html
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