New York, NY -- (SBWIRE) -- 11/26/2020 -- According to the current analysis of Reports and Data, the global Central venous catheters market is expected to reach USD 2.38 billion million by the year 2027, growing at a CAGR of 7.1%. Catheters emerged as an efficient medication delivery mechanism for surgical procedures and to treat other diseases. Central venous catheters are medical devices, used for the treatment of various cardiovascular and other chronic disorders. A catheter is inserted in the arm or chest into a large vein. It penetrates the internal jugular vein, subclavian vein, or femoral vein to reach the large vain to administer medicines, fluids, blood, nutrients, and blood products. Also, these catheters are used to measure Central Venous Pressure (CVP), hemodialysis, and chemotherapy levels over a long period of time.

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Central Venous Catheters Market: Key Players

Edwards Life sciences,
Angio Dynamics
C.R.Bard
Lepu Medical Technology
Kimal, Terumo Corporation
Vygon (U.K.) Ltd
Becton Dickinson Company
Medrad (Bayer AG)
Johnson and Johnson
Rochester Medical Co

Major factors propelling the growth of central venous catheters market are the rise in geriatric population susceptible to different cardiovascular diseases, government initiatives & grants and the increase in investment in R&D activities. Manufacturers in the central venous catheters market are expanding their strategic business activities through merger and acquisitions to enhance their product portfolio and expand customer base, which encourages the growth of the target market. For example, in November 2018, CVS Health and Aetna formed a merger to create an innovative health and activity solutions company. The company focused on strengthening its foothold in the near future.

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Impact of COVID19 On Central Venous Catheters Market:

The COVID-19 pandemic has brought the world to a temporary halt and as the number of infections and death continue to rise, all nations are fervently hoping to develop a vaccine that can bring this virus under control. But in the meantime, the healthcare industry is extremely over-burdened trying to have to deal with the coronavirus crisis on one hand and ardently trying to develop a vaccine that can grant at least temporary immunity against the virus. The demographic most at risk of contracting the coronavirus are the elderly and patients with pre-existing conditions. It has been noted the patients with comorbidities are likelier to succumb to the virus rather than healthy individuals. Patients who become dangerously ill due to the attack of coronavirus are often needing to be put in ICUs. It was found that nearly 25% of all coronavirus patients ended up in ICUs and needed mechanical ventilation. Many of these patients also needed the insertion of central venous catheters for the administration of nutrition and medication. Till the time a vaccine is developed for coronavirus and even after it is developed, while people become severely sick of the virus, the central venous catheters will register a steady growth as the equipment becomes an important part in keeping patients alive.

Central Venous Catheters Market: Segmentation

For the purpose of this study, Reports and Data have segmented the Central Venous Catheters market into product types, property type, design type, composition type, sales channel type, End user type, and region.

By Product (Revenue, USD Million; 2017-2027)

Tunneled Catheters
Non-Tunneled Catheters

By Property (Revenue, USD Million; 2017-2027)

Antimicrobial Catheters
Non-Antimicrobial Catheters

By Design (Revenue, USD Million; 2017-2027)

Single Lumen
Double Lumen
Multiple Lumen

By Composition (Revenue, USD Million; 2017-2027)

Polyurethane
Polycarbonate
Silicon

By sales channel (Revenue, USD Million; 2017-2027)

Direct sales
Channel Sales

By End-User (Revenue, USD Million; 2017-2027)

Hospital
Ambulatory Surgical Centers
Clinics
Others

Regional Outlook (Revenue, USD Million; 2017-2027)

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
Middle East and Africa
Latin America
Brazil
Rest of Latin America

Central Venous Catheters Market: Regional Outlook

North America held a dominant position in the global central venous catheters market due to technological advancements, large patient pool, and awareness about advanced treatments in the region. The region is expected to continue its lead over the forecast period. Moreover, the rise in healthcare expenditure, availability of approved medical devices, and increasing investments are key factors that are anticipated to boost the central venous catheters market in the next few years.

The Asia Pacific central venous catheters market is projected to register a commendable CAGR due to increasing awareness regarding medical devices in developing countries and rising research initiatives in countries such as Japan and China. According to the World Health Organization, Singapore holds the sixth rank in the world for its advanced healthcare system and offers the fourth best healthcare infrastructure in the world. Demand for advanced medical technologies is anticipated to strengthen the country's reputation as a healthcare hub in the region.

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Report Highlights:

Detailed overview of the market
Evolving central venous catheters market dynamics
In-depth central venous catheters market classification
Historical, present, and anticipated central venous catheters market size and share in terms of volume and value
Recent central venous catheters market trends and advances
Competitive landscape
Strategies adopted by key players and products portfolio
Segments, sub-segments, and geographic regions exhibiting growth prospects
A neutral and global perspective on central venous catheters market performance