Central Venous Catheter Market Size, Share, Trends and Forecast 2022-2032
The global central venous catheter market is expected to develop at a 5.1% CAGR between 2022 and 2032. The global market reached US$ 2.9 billion in 2021 and is predicted to reach US$ 3.1 billion by the end of 2022. Because of the increased prevalence of cardiovascular diseases and malignancies, the worldwide demand for central venous catheters is expected to rise to US$ 5.1 billion by 2032.
As compared to the historical analysis of the global central venous catheter market, the CAGR registered was about 4.9% from 2012 to 2021. The present forecast period registered a growth of 5.1% from 2022 to 2032. The rising usage of central venous catheters across healthcare facilities for giving fluids, blood, or medications to critically ill patients is a key factor driving growth in the global central venous catheter market.
Central venous catheters are delicately placed in veins in the neck, groin, chest, or through veins in the arms in order to ease the delivery of fluids and therapies. This device is useful for patients who are unable to eat food or medicine through their mouths. Therefore, the rising prevalence of cardiovascular disease and chronic kidney disease, along with the growing need for prolonged intravenous therapies in critically ill patients, will continue to boost the demand for venous catheters during the forecast period.
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· There is a surge in the demand for various types of central venous catheter products due to which key manufacturers are investing in focusing on research and development to introduce better and more efficient products. Owing to these factors are likely to boost the growth throughout the forecast period.
· Widespread technological advancements and the adoption of high-tech equipment in medical procedures and medical device insertions are bringing the central venous catheter market into the limelight. Increased usage of ultrasound-guided insertions has proved to improve the safety and effectiveness of CVC placement and helped in reducing the complications associated with the procedure.
· More accessibility to product-based solutions, such as quality control and infection prevention guidelines has further fueled growth in the market resulting in a hike in the overall revenue growth of the global central venous catheter market.
· The growth in the central venous catheter market is driven by the global burden of diseases, increasing expendable income, and the rising awareness of the adoption of surgical procedures for managing illnesses.
· On the basis of product category, the non-tunneled catheter sub-segment accounts for about 77.0% of the total market share and is likely to retain its dominance during the forecast period. In order to efficiently care for critically ill patients, central venous catheter insertion is a routine and frequently required procedure.