U.S. Disinfecting Cap Market, by Application (Central Venous Line, Peripheral IV Catheters and Others), and by End User (Hospital and Clinics, Ambulatory/Outpatient Surgical Centers, and Others), is expected to be valued at US$ 359.3 million in 2019, and is expected to exhibit a CAGR of 10.7% over the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
Increasing demand for disinfecting caps in hospitals to prevent hospital acquired infection (HAI) is expected to provide immense growth opportunities for industry players operating in the U.S market. According to a study done by researchers from the Mercy Hospital in St. Louis, published in the Journal of the Association for Vascular Access 2017, the rate of peripheral venous catheter-related bloodstream infections decreased from 0.57 to 0.11 per 1,000 patients in a day, with the use of the PIV bundles in the Mercy Hospital.
Similarly, in January 2016, ICU Medical Inc. announced the peer-reviewed results of a study published in Infection Control & Hospital Epidemiology journal. The study results showed that the use of the SwabCap disinfecting cap for needle-free connectors successfully reduced central line–associated bloodstream infections (HA-CLABSI) and blood culture contamination (BCC) in hematology-oncology patients.
Browse 8 Market Data Tables and 12 Figures spread through 90 Pages and in-depth TOC on 'Disinfecting Cap Market'- U.S. Forecast to 2027, by Application (Central Venous Line, Peripheral IV Catheters and Others), and by End User (Hospital and Clinics, Ambulatory/ Outpatient Surgical Centers, and Others).
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Key players in the market are focused on adopting expansion strategies such as mergers and acquisitions, agreements and partnerships in order to expand their product portfolio and presence in the disinfecting cap market. For instance, in March 2016, ICU Medical Inc. signed a distribution agreement with B. Braun Melsungen. Under this agreement, B.Braun agreed to distribute SwabCap, the disinfecting cap used to prevent CLABSI infection, to more than 30 countries outside the U.S.
Similarly, in November 2019, ICU Medical, Inc. acquired Pursuit Vascular, Inc., a medical device company engaged in the development of innovative catheter disinfecting products and technologies to reduce the risk of bloodstream infections associated with catheters.
Key Takeaways of the U.S. Disinfecting Cap Market: