Central Venous Catheter Market – Increasing Prevalence of Cancer
Central venous catheters play a major role in modern healthcare. These catheters allow easy administration of intravenous fluids, blood products, medications, and parenteral nutrition, as well as offer hemodialysis access and hemodynamic monitoring. They are used in various diseases for longer duration therapies such as cancer (chemotherapy) and end stage renal disease (dialysis).
The U.S. central venous catheter market size was valued at US$ 825.9 million in 2018, and is expected to exhibit a CAGR of 6.2% over the forecast period (2018 – 2026).
Figure 1. U.S. Central Venous Catheter Market Value (US$ Mn), by Design, 2018
Source: Coherent Market Insights Analysis (2019)
Increasing prevalence of cancer is expected to propel growth of the central venous catheter market
Cancer is a class of chronic disease that is characterized by out-of-controlled growth of cells. According to The National Cancer Institute, 2013, there are over 100 different types of cancer that can be described from the type of cells they are formed from. According to the American Cancer Society, 2017, cancer is the second most common cause of death in the U.S., which accounts for nearly 1 out of every 4 deaths.
According to the National Center for Chronic Disease Prevention and Health Promotion, 2017, around 30 million people or 15% of the U.S. adults were estimated to have chronic kidney.
According to the World Health Organization (WHO), 2012, cancer is the second leading cause of morbidity and mortality worldwide, with around 14 million new cases registered in 2012. Furthermore, WHO stated that the number of new cases is expected to increase by around 70% by 2030. In 2015, cancer was responsible for 8.8 million deaths worldwide.
Figure 2. U.S. Central Venous Catheter Market Share (%), by Design, 2018 and 2026
Source: Coherent Market Insights Analysis (2018)
Increasing collaboration strategies adopted by market players is expected to bolster growth of the U.S. central venous catheter market
The U.S. central venous catheter market is expected to witness significant growth due to increasing adoption of collaboration strategies by market players. For instance, in 2017, Becton, Dickinson, and Company acquired C.R. Bard, Inc. which created a new health care industry leader with approximately US$ 16 billion in annualized revenue. Similarly, in July 2018, B.Braun Melsungen AG acquired the bloodlines business of NxStage Medical, Inc. This acquisition helped dialysis business of B. Braun Melsungen AG.
Major players operating in the U.S. central venous catheter market include, 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., and Theragenics Corporation.
Central venous catheters consist of a long, thin tube that is inserted into a large vein to deliver medication, nutrition, intravenous fluids, and cancer medications. Different types of central venous catheters can be utilized by patients according to the duration of the treatment. These include, tunneled central venous catheters (CVC) and implanted ports for long term use, peripherally inserted central catheter (PICC) for intermediate term, and non-tunneled CVC for short term use. Central venous catheterization is used for chemotherapy administration, total parenteral nutrition, administration of intravenous fluids and blood, platelet transfusions, and other applications.
Increasing prevalence of renal diseases is a major factor driving the central venous catheter market growth. According to the National Center for Chronic Disease Prevention and Health Promotion, 2017, around 30 million people or 15% of the U.S. adults were estimated to have chronic kidney.
Moreover, introduction of innovative products and increasing requirement of long-duration IV therapies such as chemotherapy is expected to boost the market growth. For instance, in May, 2018, Pursuit Vascular, Inc., received the U.S. Food and Drug Administration (FDA) clearance for a broader indication of its ClearGuard HD caps to include reduction in the incidence of central-line associated bloodstream infection (CLABSI) in hemodialysis patients with central venous catheters (CVCs).
Similarly, in February 2018, the U.S. FDA cleared Access Vasculars’ HydroPICC catheter for peripheral access of the vein.
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“*” marked represents similar segmentation in other categories in the respective section.
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