Global Central Venous Catheters (CVCs) Market to Reach $1.5 Billion by 2026

Central venous catheters, also referred to as central lines, central catheters or central venous access devices, hold an invaluable contribution in treatment of various health conditions. These catheters represent narrow, soft tubes intended to be inserted into a large vein near a patient`s heart. The device`s other end facilitates administration of medicines, fluids and other solutions. Central venous catheters are longer and larger in size in comparison to peripheral intravenous lines. These devices are sometimes recommended for people receiving cancer treatment. Central venous catheters are suitable for patients with hard-to-find, fragile veins and damaged veins as well as in cases where a patient`s arms are unfit for intravenous line use. These devices are generally preferred for drugs that are hard on veins, including hyper-alimentation, and may damage the skin due to leakage from a peripheral intravenous line. Central venous catheters allow the medical staff to deliver multiple treatments and medications concurrently.

Amid the COVID-19 crisis, the global market for Central Venous Catheters (CVCs) estimated at US$1.1 Billion in the year 2020, is projected to reach a revised size of US$1.5 Billion by 2026, growing at a CAGR of 5.4% over the analysis period. Multi-Lumen, one of the segments analyzed in the report, is projected to grow at a 6.1% CAGR to reach US$793.9 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Triple-Lumen segment is readjusted to a revised 5.2% CAGR for the next 7-year period. This segment currently accounts for a 28.2% share of the global Central Venous Catheters (CVCs) market.

The U.S. Market is Estimated at $403.5 Million in 2021, While China is Forecast to Reach $178.2 Million by 2026

The Central Venous Catheters (CVCs) market in the U.S. is estimated at US$403.5 Million in the year 2021. The country currently accounts for a 34.17% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$178.2 Million in the year 2026 trailing a CAGR of 7.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 4.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR while Rest of European market (as defined in the study) will reach US$192 Million by the close of the analysis period.

The market is driven by growing rates of hospitalizations and high adoption rates of these catheters. The market growth is also boosted by socio-economic factors, such as the growing geriatric segment of population and increasing incidences of various types of chronic diseases including malignant cancer, resulting in increasing need for antimicrobial coated catheters. Another major growth driver is the growing numbers of product innovations. The global central venous catheter market experienced rapid expansion due to the growing development of tip location devices that enable precise placement or positioning of the central venous catheter. Age of the patient, product category, indication, and insertion procedure are the factors that would define the reimbursement status of central venous catheters. Manufacturers of central venous catheters are focusing on more investments towards product quality and design that would minimize risks and ensure patient safety.

Technological advancements of over the years facilitated increased use of CVCs in medical care. Other growth drivers include growing incidences of cancers, CKD and cardiovascular diseases. These chronic diseases require treatments using central venous catheterization. Cancer represents the second major cause behind global deaths currently. CVC is considered the best means for administering chemotherapy drugs. ESRD (End-stage Renal Disease) is another major ailment affecting around two million people across the world. Increasing geriatric population and growing number of governmental initiatives for treating people with CVD, and increase in private sector investment in more advanced CVC development are other factors that drive market growth.

Double-Lumen Segment to Reach $262.2 Million by 2026

In the global Double-Lumen segment, USA, Canada, Japan, China and Europe will drive the 4.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$159.1 Million in the year 2020 will reach a projected size of US$215.9 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$29 Million by the year 2026, while Latin America will expand at a 5.3% CAGR through the analysis period.