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Global Peripherally Inserted Central Catheters Market to surpass US$ 1,369.9 million by 2028; owing to Increasing Cancer Prevalence and Blood Transfusions, Says Coherent Market Insights (CMI)

/EIN News/ -- SEATTLE, July 30, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global peripherally inserted central catheters market is estimated to be valued at US$ 857.7 million in 2021 and is expected to exhibit a CAGR of 6.9% during the forecast period (2021-2028).

Key Trends and Analysis of the Global Peripherally Inserted Central Catheters Market:

The increasing number of drug approvals by Canada regulatory bodies is expected to drive the growth of global peripherally inserted central catheters market. For instance, in August 2016, AngioDynamics Inc., a provider of medical devices, received approval from the Health Canada for its Celerity PICC Tip Confirmation System developed for the positioning of Peripherally Inserted Central Catheters (PICCs) in adult patients.

Increasing number of product launches is expected to propel the market growth over the forecast period. For instance, in October 2018, the U.S. Food & Drug Administration (FDA) approved Crescent Jugular Dual Lumen Catheter which is designed for extracorporeal membrane oxygenation and manufactured by MC3 Cardiopulmonary, a U.S.-based medical device firm.

The increasing number inorganic growth strategies such as acquisition by key players will drive the growth of market over the forecast period. For instance, in July 2018, Becton, Dickinson and Company acquired TVA Medical, Inc., a developer of minimally invasive vascular access solutions for patients with chronic kidney disease requiring hemodialysis.

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The increasing number of inorganic growth strategies such as partnership is expected to drive the growth of global peripherally inserted central catheters market over the forecast period. For instance, in March 2017, Bluegrass Vascular Technologies entered into a strategic partnership with Merit Medical Systems, a manufacturer and marketer of proprietary disposable devices, for the distribution of Surfacer Inside-Out Access Catheter System in the European region.

Key Market Takeaways:

North America peripherally inserted central catheters market is expected to hold the largest share in global peripherally inserted central catheters market by exhibiting a CAGR of 7.1% during the forecast period (2021-2028). North America peripherally inserted central catheters market is expected to boost during the forecast period owing to rising prevalence of chronic diseases such as end-stage kidney disease (ESKD) and cancer in the region. For instance, according to the Centers for Disease Control and Prevention (CDC), around 125,000 people started the treatment for end-stage kidney disease (ESKD) and over 726,000 people were either on dialysis or living with a kidney transplant in the U.S., in 2016.

Increasing number of of blood transfusion are performed globally which is anticipated to drive the growth of global peripherally inserted central catheters market over the forecast period. For instance, According to the National Health Service (NHS), around 2.5 million units of blood are transfused every year in the U.K.

Competitive Landscape:

Key players operating in the global peripherally inserted central catheters market include AngioDynamics Inc., B. Braun Melsungen AG, Becton, Dickinson and Company, Teleflex Incorporated., Argon Medical Devices, Inc., Cook Medical Inc., ICU Medical, Inc., Medical Components, Inc., Access Vascular., and Vygon (UK) Ltd.

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  • Global Peripherally Inserted Central Catheters Market, By Product Type:
    • Single Lumen
    • Double Lumen
    • Multi Lumen
  • Global Peripherally Inserted Central Catheters Market, By End user:
    • Hospitals & Clinics
    • Ambulatory Surgical Centers
    • Catheterization Laboratories
  • Global Peripherally Inserted Central Catheters Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Country:
        • U.K.
        • Germany
        • Italy
        • Spain
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country:
        • Australia
        • India
        • China
        • Japan
        • ASEAN
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa

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