CENTRAL VENOUS CATHETER MARKET ANALYSIS

A central venous catheter is also known as central line or central venous line. It is a flexible tube, which is inserted into the vein below the right side of the collarbone and guided towards the large vein towards the heart, known as superior vena cava. A central venous catheter is used for administration of various fluids and these fluids can be easily injected into the body of the patients. The fluids include intravenous fluid, blood transfusions, and chemotherapy drugs. The Centers for Disease Control and Prevention (CDC) provided guidelines to prevent intravascular catheter-related infections in 2011, which were further updated in 2017. The guideline covers various important aspects, which are associated with central venous catheters such as appropriate training for healthcare personnel who insert intravascular catheters and the staff who are responsible for surveillance and selection of catheter and catheter application sites.

Global Central Venous Catheter Market - Impact of the Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic is expected to limit growth of the global central venous catheter market over the forecast period. For instance, in June 2020, a study was published in the Current Oncology, a Canadian Cancer Research Journal, which assessed the impact of COVID-19 outbreak on Stage II and Stage III colon cancer patients who were taking adjuvant chemotherapy   treatment, in China. According to the study, the patients had to delay or modify their chemotherapy regimens during the COVID-19 outbreak due to the following reasons:

• Change in hospitalization policies during the pandemic
• Transportation blockage due to lockdown
• Patient’s unwillingness
• Side effects such as blockage in the veins etc.

Moreover, the decrease in the number of blood transfusion is expected to hamper growth of the global central venous catheters market. For instance, in November 2021, an article was published in the journal, Transfusion Medicine and Hemotherapy, which stated that during COVID-19 pandemic, more challenges arose for blood transfusion as a result of lockdown, social distancing, and fear of blood virus transmission. Moreover, according to the same source, the elderly, who contributed most to the blood donations, were among the most vulnerable to the virus, resulting in lower donations from them.

The global central venous catheter market is estimated to be valued at US$ 2,117.8 Mn in 2021 and is expected to exhibit a CAGR of 6.2% over the forecast period (2021-2028).  

Figure 1: Global Central Venous Catheter Market Share, (%), Analysis, By Product Type, 2021

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Market players are engaged in receiving guidelines form the regulatory authorities regarding the classification of the central venous catheters, and this is expected to fuel growth of the global central venous catheter market, over the forecast period

Regulatory authorities are providing guidelines to the market players regarding the classification of the central venous catheter and this is expected to drive growth of the market over the forecast period. For instance, in 2020, Bluegrass Vascular Technologies, a medical technology company, received De Novo classification order from the U.S. Food and Drug Administration (FDA) for its Surfacer Inside-Out Access Catheter System. The system is developed to obtain central venous access for catheter insertion into the central venous system for patients with upper body venous occlusions.

Market players are indulged in inorganic activities such as signing distribution agreements, which is expected to propel growth of the global central venous catheter market, over the forecast period

The increasing inorganic activities by the market players such as signing distribution agreements is expected to drive growth of the global central venous catheter market over the forecast period. For instance, in August 2021, ZOLL Medical and Wallaby Medical Technologies, a medical device company dedicated to stroke treatment, announced a distribution agreement, in which Wallaby will manage the sales and distribution of ZOLL's temperature management products in China. The Thermogard XP Intravascular Temperature Management System (IVTMTM) provides healthcare providers with the precision and speed associated with high-quality targeted temperature management (TTM), resulting in clinically demonstrated improvements in neurological outcomes among cardiac arrest survivors. The system includes a family of heat-exchange catheters that allow clinicians to manage core body temperature based on the patient’s needs.

Global Central Venous Catheter Market – Restraints

The increasing central venous catheter recalls is expected to hamper growth of the global central venous catheter market, over the forecast period. For instance, in January 2020, ICU Medical, Inc., a company manufacturing medical technologies, initiated Class 2 device recall of heparin coated central venous catheter due the inability for the guidewire to pass through the needles included with the catheter kits. Moreover, in January 2019, Arrow International Inc., a part of the Teleflex Inc., initiated the Class 2 Device Recall of Arrow QuadLumen central venous catheterization kit, as the product contained incorrect banner card within the kit.

Furthermore, in February 2016, Cook Medical, a privately held company in the U.S. initiated a voluntary recall of 360 specific lots of Single Lumen Central Venous Catheters and Pressure Monitoring Sets and Trays due to the possibility of catheter tip fracture and/or separation. This recall affected 17,827 devices worldwide. Specific versions and large numbers of the Single Lumen Central Venous Catheter Sets and Trays, Single Lumen Pressure Monitoring Sets, Femoral Artery Pressure Monitoring Catheter Sets and Trays, and Radial Artery Pressure Monitoring Catheter Sets and Trays were recalled. These items are intended for use in venous or arterial pressure monitoring, blood sampling, and drug and fluid administration.

Global Central Venous Catheter Market – Regional Analysis

On the basis of region, global central venous catheter market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

Among regions, North America central venous catheter market is expected to hold a dominant position during the forecast period, owing to the availability of reimbursement for the central venous catheter is expected to drive growth of the North America central venous catheter market, over the forecast period. For instance, according to the Centers for Medicare & Medicaid Services (CMS), 2020, the following table shows some of the reimbursement provided for the central venous catheters.

(CPT Stands for Current Procedural Terminology, a trademark of the American Medical Association, ASC – Ambulatory Surgical Center)

Furthermore, Europe is also estimated to witness significant growth in the global central venous catheter market, owing to increasing inorganic activities by the market players such as partnerships and agreements. For instance, in March 2018, Bactiguard, a company developing catheters, announced that it entered into a distribution agreement with Ecomed Services NV, a distributor of medical devices in Belgium and the Netherlands, for the commercialization and distribution of Bactiguard products in the Netherlands and expanded its presence in Europe.

Figure 2: Global Central Venous Catheter Market (US$ Mn), by Region, 2021

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Global Central Venous Catheter Market – Competitive Landscape

Major players operating in the global central venous catheter market include B. Braun Melsungen AG, Becton, Dickinson and Company, ICU Medical, Inc., Poly Medicure Ltd., Teleflex Incorporated, Lepu Medical Technology Co., Ltd., Cook Group, Insung Medical, VOGT Medical, ZOLL Medical Corporation, EETA Surgical, QMD, and Kimal.