Market Overview
The global intravascular catheters market reached US$ 752 million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 4.2% during the forecast period (2023-2030).
Intravascular Catheters, also known as chelates, are chemical compounds that can bind to metal ions and form a stable complex. A binding process called chelation removes metal ions from solutions, makes them less reactive, or prevents them from forming harmful precipitates. It is used in various industries and applications, such as water treatment, detergents and cleaning products, personal care products, food and beverage, agriculture, and many more. Many different products, such as EDTA, NTA, citric acid, and gluconic acid, have unique properties and uses. It is also used as a sequestrant, preservative, pH buffer, and stain remover in different products.
Market Dynamics
The increasing prevalence of non-communicable diseases
Chronic diseases also referred to as non-communicable diseases (NCDs), are conditions that develop over an extended period as a result of a combination of genetic, physiological, environmental, and behavioral variables. According to the WHO 2022 report, non-communicable diseases cause the deaths of 41 million people a year, or 74% of all deaths worldwide. 17 million people worldwide pass away from an NCD before they turn 70 each year; 86% of these untimely deaths take place in low- and middle-income nations. Intravascular catheters can provide a more effective and efficient way to deliver medications, fluids, and nutrition to patients who need them. This can improve patient care by ensuring that patients receive the right treatment at the right time.
Increasing the use of intravenous catheters in outpatient settings
The use of IV catheters in outpatient settings can improve patient care by allowing for the delivery of medications and fluids that might not be available through oral administration. This can also enable patients to receive treatment more quickly and efficiently. IV catheters can reduce the need for hospitalizations and emergency room visits, which can result in cost savings for patients and healthcare providers. By increasing the use of IV catheters in outpatient settings, patients who might not have access to hospital care can receive necessary treatments in a more convenient and accessible location. Outpatient settings often have lower rates of infection than hospitals, so using IV catheters in these settings can reduce the risk of infection for patients.
The Risk associated with Intravascular Catheters
The risk of CA-UTI has been reported to rise with patient age and length of catheterization, severe sickness, obesity, immunocompromised state, frequent clinic or hospital visits, and hospitalization. However, these catheters increase the risk of bloodstream infection. Bloodstream infections caused by intravascular catheters are an expensive medical complication as a result of their rising prevalence; estimates for this cost in the United States range from 670 million to 2.68 billion dollars yearly.
Segment Analysis
The global intravascular catheter market is segmented based on product, application, end-user, and region.
Owing to their versatility and ease of use, the PIVc
A short peripheral intravenous catheter (PIVC) is a medical device that is inserted into a patient’s vein to provide short-term access for medication administration, blood draws, and other medical procedures. A short PIVC is typically less than 3 inches long and is inserted into a vein in the hand, arm, or other location where a vein can be easily accessed. Short PIVCs are commonly used in hospitals, clinics, and other healthcare settings to provide quick and easy access to a patient’s bloodstream. They are designed for short-term use, typically up to 72 hours, after which they are removed and replaced if needed. Short PIVCs are an important tool in modern medicine, providing a safe and effective means of delivering medication and other treatments to patients.
Geographical Penetration
The strong presence of major players and technological advancements in intravascular catheters
The improving technology and rising disease such as cardiovascular disease drive the market in the North American region. For instance, in May 2020, a University of Central Florida researcher is part of a recently announced $1.4 million National Institutes of Health grant to help develop a novel coating material for catheters and other medical devices that resists infections, blood clots, and biofilms. This is significant because reports from the National Institutes of Health and the Centers for Disease Control and Prevention in the United States estimate that there are 80,000 catheter-related bloodstream infections in the country every year, which can result in up to 28,000 deaths and an increase in healthcare spending of more than $2 billion. But the material created by UCF is intended to be multifunctional to be able to prevent biofilms, a buildup of bacteria or organic waste that can transmit disease, as well as infections and blood clots.
Competitive Landscape
The major global players include Omron Corporation, Koninklijke Philips N.V, Cook Medical, Allied Healthcare Products, Inc, Becton, Dickinson and Company, Agilent Technologies, Medline Industries, Inc., Boston Scientific Corporation, Johnson & Johnson, and GF Health Products, Inc.
COVID-19 Impact Analysis
By Product
- Short PIVC
- Integrated/Closed PIVC
By Application
- Oncology
- Gastroenterology
- Renal Disease
- Infectious Diseases
- Others
By End User
- Hospitals
- Ambulatory Surgery Clinics
- Others
By Region
- North America
- ·U.S.
- ·Canada
- ·Mexico
- Europe
- ·Germany
- ·UK
- ·France
- ·Italy
- ·Russia
- ·Rest of Europe
- South America
- ·Brazil
- ·Argentina
- ·Rest of South America
- Asia-Pacific
- ·China
- ·India
- ·Japan
- ·Australia
- ·Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- In July 2022, B. Braun Medical Inc., a leader in infusion therapy, launched its new Introcan Safety 2 IV Catheter with one-time blood control. The Introcan Safety 2 IV Catheter is the latest development from B. Braun for making IV access safer for the clinician by reducing the risk of needlestick injuries and exposure to blood.
- In May 2022, Cook Medical introduced the MINC+ Benchtop Incubator for IVF facilities in the United States and Canada. The MINC+ is the next generation of the Mini Incubator. The DishTrace technology, which combines capability through the incubator screen and computer system software to provide a wide range of dish-data management features, is also included with the MINC+ incubator.
- In December 2021, Edwards Lifesciences declared that the FDA had authorized the usage of the Edwards SAPIEN 3 transcatheter valve with the Alterra adaptive present for people with acute pulmonary regurgitation.
Why Purchase the Report?
- To visualize the global intravascular catheters- market segmentation based on product, application, end-user, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous Intravascular Catheters market-level data points with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global intravascular catheters market report would provide approximately 61 tables, 58 figures, and 195 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies