Catheter Stabilization Device/Catheter Securement Devices Market $1,372.35 M by 2020, According to a New Study on ASDReports

Monday 6 July 2015, Amsterdam

The report, now available on ASDReports, “Catheter Stabilization Device/Catheter Securement Devices Market by Product (Portal, Epidural, Peripheral, Femoral, Nasogastric, Endotracheal), Application (Cardiovascular, Respiratory, Urological, Gastric, Radiology), End User – Global Forecast to 2020”The global securement devices market is expected to reach $1,372.35 Million by 2020 from $957.26 Million in 2015, growing at a CAGR of 7.47% between 2015 and 2020.

The report provides a detailed overview of the major drivers, restraints, and opportunities impacting the global securement devices market along with the estimates and forecasts of the revenue and market share analysis.

The global securement devices market is poised for rapid growth between 2015 and 2020. The include increasing healthcare expenditure, growing aging population, increasing prevalence of lifestyle diseases, and increasing demand for minimally invasive surgeries are important reasons for the growth in market size.

Increasing healthcare expenditure will aid the growth of the securement devices market. Today, healthcare expenditure constitutes a significant part of the development budget of all countries. It consists of spending by both public and private sources on medical goods and services. Rapid economic development across the globe is expected to improve access to quality healthcare. Increasing healthcare expenditure will lead to a rise in the demand for quality healthcare and will be an important growth driver for the securement devices market. According to estimates from the World Bank, global healthcare spending increased at a CAGR of 7.45% from 2003 to 2012, from $3,829 Billion in 2003 to $7,310 Billion in 2012. In the same period, the global public healthcare spending increased from $2,207 Billion in 2003 to $4,352 Billion in 2012, at a CAGR of 7.84%. This high growth rate, along with the substantial size of healthcare spending, will act as an important driver for hospitals and diagnostics centers, which are the major end-user segments of the securement devices market.

The securement devices market is segmented on the basis of by products, applications, and end users. Of these, the global securement devices market products segment comprises of arterial securement devices, central venous catheter securement devices, peripheral securement devices, abdominal drainage tubes securement devices, epidural securement devices, chest drainage tube securement devices, and all-site devices. Arterial securement devices had the largest share of the securement devices market in 2015 and central venous catheter securement devices are expected to grow at the highest CAGR between 2015 and 2020.

The applications included in this report are general surgery, cardiovascular procedures, respiratory procedures, urological procedures, gastric and oropharyngeal procedures, radiology and other applications. The cardiovascular procedures applications had the largest share of the securement devices market in 2015. The cardiovascular procedures applications are expected to one of the fastest growing applications between 2015 and 2020.

The geographic segments included in this report are North Americas, Europe, Asia and Rest of the World (RoW). North America has the largest share of this market in 2015, while Asia is expected to grow at the fastest rate during the forecast period. Growth in the Asian securement devices market will primarily be driven by the aging population in this region.

The major players in the securement devices market include Medtronic plc (U.S.), 3M Company (U.S.), C. R. Bard, Inc. (U.S.), Baxter International, Inc. (U.S.) , B. Braun Melsungen AG (Germany), ConvaTec Inc. (U.S.), Merit Medical Systems, Inc. (U.S.), Smiths Group plc (U.K.), Centurion Medical Products (U.S.), and M.C. Johnson Company, Inc. (U.S.).