The catheter securement devices market is forecast to reach USD 2,487.0 Million by 2032. A catheter is a type of soft hollow tube that is inserted into the body to perform surgical procedures or treat diseases. One of the common use of catheters is to drain urine, wherein it is passed in the bladder. It is possible to tailor catheters by adjusting or modifying the way of its manufacturing, which makes it applicable for various other conditions associated with cardiovascular, respiratory, gastric conditions, among others. Catheter Securement Device is essential for users of catheters to securely hold the catheter in place as its constant displacement may result in increasing inconvenience of care users. It is with the help of these devices; urine can be prevented from flowing back and minimize the risk of urethral trauma that is caused by catheter movement or dislodgement. An integration of different market factors are supporting the growth of the market. One of the mentionable factors being, rising geriatric population, urinary incontinence among them, and associated increased demand for bladder catheterization that in turn propels the demand for these securement devices. Other market factors, like cost-benefits associated with securement devices, are also boosting the growth of the market.
Though various supporting market factors are propelling the market growth, adverse factors like presence and development of alternative products may slow down the growth of the market.
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In regards to region, North America can be seen to dominate the market. The reason for the market dominance of the region is associated with the elevating demand of the devices in routine operating procedures, rise in the number of catheter placements, and increasing application of intravascular catheters in this region.
Key Coverage of the Report
- Estimation of the market size along with historical and forecasted trend analysis.
- Various types’ of alternatives available have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.
- The regulatory framework of each region.
- Regional up-coming research and application outlook.
- Status of on-going developments.
- Regional prevalence of Catheter Securement Devices has been mapped.
- Demand and Supply GAP Analysis
- Regional Competitors Pricing Strategy
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments.
Salient Trends of the Catheter Securement Devices Market
- The Catheter Securement Devices market is forecasted to grow at a rate of 7.1% during the forecast period and reach USD 74 Billion in 2032.
- Various initiatives taken by the market players are supporting the growth of the market. One of such mentionable initiative is acquisition. As an instance, in December 2023, Becton, Dickinson and Company, a mentionable market player, had announced the completion of acquisition of C. R. Bard, Inc. With the help of the acquisition, Becton, Dickinson, and Company could strengthen its foothold in the securement devices market.
- Another commonly used strategy is expansion. For example, in September 2019, Smiths Detection had opened a new office within the i-hub at imperial college white city campus London. Such initiatives by market players have a positive impact on the overall growth of the market.
Companies considered and profiled in this market study
B Braun Melsungen AG, 3M Company, C.R. Bard (Becton Dickinson and Company), Baxter International, Convatec, Inc, Centurion Medical Products (Medline), Merit Medical Systems Inc., Mc Johnson Company Inc., Smiths Group PLC and Cardinal Health, Inc.
The companies have focused on various strategies like new product launches, acquisitions, and mergers to expand the market share.
- The valuation for catheter securement devices market was USD 1,196.0 Million in 2020, and it is forecasted to have a growth rate of 9.50% during the forecast period.
- In context to Product Type, the Arterial Securement Devices segment can be seen to lead the market occupying the largest market share of 30.0% in 2023, with a growth rate of 7.3% during the forecast period. The market share held by the Arterial Securement Devices segment is attributed to continuous rise in diseases like cardiovascular disease and cancer and its elevated use in various surgeries associated with cancer therapies and cardiovascular diseases.
- While discussing Product, it is mentionable here that, Central Venous Catheter Securement Devices segment is projected to witness the fastest growth rate of 8.0% during the forecast period, which is expected to occupy 15.0% of the market by 2032. The growth rate experienced by the Central Venous Catheter Securement Devices segment is associated with its various advantages like few reinsertions and repetition of procedures along with minimized CVC replacement costs.
- In context to Application, the Cardiovascular Procedures segment occupied the largest market share of 21.0% in 2023, with a CAGR of 7.4% during the forecast period. The continuous elevation in lifestyle-related diseases in developing as well as developed nations results in increased demand for these securement devices for cardiovascular procedures, which contributes to the market share occupied by this segment.
- While discussing Application, it is mentionable here that, Urological Procedures segment occupies the second largest market share of 18.0% in 2023 with a CAGR of 7.3% during the forecast period. The growth in the geriatric population, common age-associated diseases like urinary incontinence among them, and increased need for urological procedures, contributes to the growth rate witnessed by this segment.
- In regards to End-users, the Hospital segment held the largest market share of 51.0% in 2023, with the fastest growth rate of 7.6% during the forecast period. The market dominance of the Hospital segment is the resultant of a large number of surgeries being performed in hospitals, which results in high demand for this securement devices among this end-user. Furthermore, continuous developments in the healthcare infrastructure in developing nations and increasing hospital admissions due to lifestyle diseases contributes to the growth rate witnessed by the Hospital segment.
- In regards to Region, North America held the largest market share of 38.0% in 2023, with a growth rate of 7.3% during the forecast period. The reason for the region to lead the market is associated with the elevating demand of the devices in routine operating procedures, rise in the number of catheter placements, and increasing use of intravascular catheters in this region.
Segments Covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2023 to 2032. For the purpose of this report, have segmented the global Catheter Securement Devices market according to Product Type, End-user, Application, and Region:
Product Type Outlook (Revenue, USD Billion; 2023-2032)
- Central Venous Catheter Securement Devices
- Arterial Securement Devices
- Urinary Catheters Securement Devices
- Peripheral Securement Devices
- Chest Drainage Tube Securement Devices
End-user Outlook (Revenue, USD Billion; 2023-2032)
- Homecare Settings
- Diagnostic Imaging Centers
- Emergency Clinics
Application Outlook (Revenue, USD Billion; 2023-2032)
- Respiratory Procedures
- Cardiovascular Procedures
- General Surgery
- Gastric and Oropharyngeal Procedures
- Urological Procedures
Regional Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Asia Pacific
- Latin America
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