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Global Catheter Stabilization Devices Market Size was valued at USD 0.6 Billion in 2022. The Catheter Stabilization Devices market Product Type is projected to grow from USD 0.7 Billion in 2023 to USD 1.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.70% during the forecast period (2023 - 2032). Lifestyle disorders are very common, and desire for therapies that don't involve much pain is growing, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The market is anticipated to be driven by rising demand for minimally invasive procedures, rising rates of lifestyle diseases like cancer, cardiovascular disease, and renal failure, as well as an increase in the number of procedures that would require these devices for postoperative care. The need for these devices is also growing as the population ages. COVID-19 has been classified as an urgent public health concern by the World Health Organization (WHO). The pandemic problem has had a big influence on the healthcare sector. One of the most crucial treatments given to COVID-19 patients was intubation. There was a larger need for ventilators, intubation equipment, and ventilation stabilization tools such as catheter stabilization devices as a result of the increase in Corona patients. In order to reduce the hazards associated with catheter movement, IVIG (Intravenous Immunoglobin) was utilized as supportive therapy for COVID-19 patients, which contributes to the rise in demand for catheter stabilizing devices.
Intravascular catheter use is a critical aspect of modern healthcare anywhere in the world. These have evolved into a requirement in hospitals and clinics due to increased usage. According to a 3M article, hospitals and clinics purchase more than 150 million of these devices each year for the administration of medications, IV fluids, parenteral nutrition, and hemodynamic status monitoring. Furthermore, it foresees the implantation of about 5 million central intravascular catheters annually. Urinary illnesses such cystitis, urine retention, incontinence, benign prostate hyperplasia, kidney stones, and other conditions that lead to bladder dysfunction are growing more prevalent. Over 25 million Americans experience incontinence of some form, according to the National Association for Continence. These devices are increasingly in demand as a means of treating people with urinary problems. Accordingly, it is anticipated that the growing use of these on a global scale in a number of application areas would ultimately lead to a rise in the use of stabilization devices.
80,000 CLABSIs are estimated to occur in ICUs each year in the United States, according to the Joint Commission's book "A Global Challenge, A Global Perspective". When patients from outside the IUs are taken into account, the annual number of CLABSI cases increases to 250,000. The rise in the prevalence of these ailments is one of the primary reasons why their strong and effective security is required. The CDC recommends utilizing securement devices to reduce the risk of infections brought on by intravascular catheters. According to the catheterization clinical recommendations of the Australia and New Zealand Urological Nurses Society (ANZUNS), using a securement device is the recommended practice for the management of indwelling catheters. Thus, driving the Catheter Stabilization Devices market revenue.
The global Catheter Stabilization Devices market segmentation, based on Product Type, includes arterial securement devices, central venous catheter securement devices, peripheral securement devices, chest drainage tube securement devices, abdominal drainage tubes securement devices, epidural securement devices, and other devices. Arterial securement devices segment dominated the global market in 2022. Arterial catheters are frequently used in common modern medical operations all around the world. Due to the widespread use of arterial catheters in numerous surgeries for the treatment of cancer and cardiovascular issues, this business has maintained the lion's share of the market. Security is crucial to lowering usage-related difficulties because of how frequently these devices are used.
The global Catheter Stabilization Devices market segmentation, based on Application, includes cardiovascular procedures, radiology, general surgery, urological procedures, respiratory procedures, gastric and oropharyngeal procedures, and others. Urological procedures segment dominated the global market in 2022. One of the key factors influencing the growth of the segment is the market participants' adoption of strategic initiatives. The increase in chronic renal diseases that require kidney transplants and surgical procedures is another factor causing segment expansion. For instance, a research published by the Health Resources & Services Administration (HRSA) in March 2022 estimates that there were approximately 24,670 kidney transplants performed in the United States in 2021.
The global Catheter Stabilization Devices market segmentation, based on End User, includes hospitals & clinics, home healthcare providers, and diagnostic centers. Hospitals & clinics segment dominated the global Catheter Stabilization Devices market in 2022. Many procedures are performed in hospitals. Catheters are routinely used in hospitals for a range of therapeutic procedures. The prevalence of illnesses associated with their use is notable among hospitalized patients. Catheter-associated urinary tract infections (CAUTI), which are increasingly common, are the hospital acquired infections (HAIs) most frequently reported.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Catheter Stabilization Devices Market dominated this market in 2022 (45.80%). The rising volume of operations, which increases the demand for stabilization devices, can be attributed to the sizeable market share in this industry. The growing use of catheterization procedures in evaluation, diagnosis, and treatment is one of the factors driving the market upward. Increasing intravascular catheter use in this region is also anticipated to propel the market. Further, In the North American area, the U.S. Catheter Stabilization Devices market had the biggest market share, while the Canada Catheter Stabilization Devices market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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In 2022, Europe's Catheter Stabilization Devices market held a sizable market share. The primary factors driving market expansion include an increase in surgical procedures, the existence of strong market rivals, and improved healthcare infrastructure. Further, In the European region, the German Catheter Stabilization Devices market had the biggest market share, and the U.K. Catheter Stabilization Devices market had the quickest rate of growth.
The Asia Pacific Catheter Stabilization Devices market is expected to register significant growth from 2023 to 2032. Large patient pools, growing target populations, significant unmet demand, and growing regional infrastructure all contribute to this. Rising demand for various surgeries, improved healthcare facilities, and increased public and professional awareness are predicted to fuel growth in this area. Moreover, In the Asia-Pacific region, the Indian Catheter Stabilization Devices market had the quickest rate of growth while China's Catheter Stabilization Devices market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Catheter Stabilization Devices market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Catheter Stabilization Devices sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Catheter Stabilization Devices industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Catheter Stabilization Devices sector. Major players in the Catheter Stabilization Devices market, including 3M Company, Braun Melsungen Ag, Baxter International, Inc., R. Bard, Inc., Centurion Medical Products, Convatec, Inc, C. Johnson Company, Inc, Medtronic PLC, Merit Medical Systems, Inc, Smiths Group PLC, and TIDI Products, LLC, are attempting to increase market demand by investing in research and development operations.
Argon Medical Devices is a manufacturer of specialized surgical medical equipment. The company distributes medical devices used in intervention procedures through a network of direct sales reps and premier distributors, giving physician clients access to cutting-edge technologies to improve clinical efficacy and outcomes. Argon Medical Devices launched the Skater mini-loop drainage catheter in March 2021. This minimally invasive procedure removes or drains an unwanted fluid collection by inserting the catheter through the skin under imaging guidance.
Catheter fastening is made possible by a patented technique developed by the medical equipment company Bedal. It contributes to patient comfort while providing effective catheter fixation. It was founded in 2011 and has its headquarters in Diepenbeek, Belgium. In April 2022, Bedal and Gulf Medical Co. Ltd. (GMC) decided to send medical supplies to Saudi Arabia and Bahrain. The Saudi Arabian and Bahraini markets, which account for a sizeable chunk of the Gulf region's catheter stabilization device market, will be served by GMC's distribution of Bedal products.
· 3M Company
· Braun Melsungen Ag
· Baxter International, Inc.
· R. Bard, Inc.
· Centurion Medical Products
· Convatec, Inc
· C. Johnson Company, Inc
· Medtronic PLC
· Merit Medical Systems, Inc
· Smiths Group PLC
· TIDI Products, LLC
November 2021: In order to prevent UTIs and unintended Foley catheter extractions, CATHETRIX, a leader in the development of urinary (Foley) smart catheter fixations, presented their brand-new catheter stabiliser at MEDICA 2021, which was held from November 15–18 in Düsseldorf, Germany.
March 2022: The Tractus Crossing Support Catheter was initially used by a person, according to Tractus Vascular.
· Arterial Securement Devices
· Central Venous Catheter Securement Devices
· Peripheral Securement Devices
· Chest Drainage Tube Securement Devices
· Abdominal Drainage Tubes Securement Devices
· Epidural Securement Devices
· Other Devices
· Cardiovascular Procedures
· Radiology
· General Surgery
· Urological Procedures
· Respiratory Procedures
· Gastric and Oropharyngeal Procedures
· Others
· Hospitals & Clinics
· Home Healthcare Providers
· Diagnostic Centers
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 0.6 Billion |
|
Market Size 2023 |
USD 0.7 Billion |
|
Market Size 2032 |
USD 1.7 Billion |
|
Compound Annual Growth Rate (CAGR) |
9.70% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Product Type, Application, End User, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
3M Company, Braun Melsungen Ag, Baxter International, Inc., R. Bard, Inc., Centurion Medical Products, Convatec, Inc, C. Johnson Company, Inc, Medtronic PLC, Merit Medical Systems, Inc, Smiths Group PLC, and TIDI Products, LLC |
|
Key Market Opportunities |
New product launches |
|
Key Market Dynamics |
Increasing demand for minimally invasive surgeries and high prevalence of lifestyle diseases |
The global Catheter Stabilization Devices market size was valued at USD 0.6 Billion in 2022.
The global market is projected to grow at a CAGR of 9.70% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are 3M Company, Braun Melsungen Ag, Baxter International, Inc., R. Bard, Inc., Centurion Medical Products, Convatec, Inc, C. Johnson Company, Inc, Medtronic PLC, Merit Medical Systems, Inc, Smiths Group PLC, and TIDI Products, LLC
The Arterial Securement Devices Product Type dominated the market in 2022.
The Urological Procedures Application had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65281
Published on :
Sep 2023
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