The global peripherally inserted central catheters market is forecast to reach USD 840.0 Million by 2032, according to a new report by. Peripherally Inserted Central Catheters (PICC) can be defined as a medical device, which is a flexible, thin tube that is inserted in a vein in the upper arm and threaded to a large vein above the superior vena cava, i.e., the right side of the heart. In PICC, a needle is inserted outside the body into a port to give fluids or draw blood. In healthcare service, it has various applications like, collect blood and provide treatment that includes drugs, blood transfusions, and intravenous fluids, among others. One of the major advantages of PICC is it stays in place for weeks or months, which helps in avoiding the requirement for repeated needle sticks. The mentioned factor makes it applicable in healthcare services that require more than two weeks of treatment. Thus, continuously expanding healthcare sector and increase in chronic conditions are supporting the growth of the market.
Though various supporting factors are propelling the market growth, adverse market factors like the rise in preference for midline catheters and risk in sideeffects like blood clots and infection along with other complications like catheter occlusion, bleeding, and phlebitis may slow down the growth of the market.
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In context to region, North America can be seen to lead the market. The market dominance of the region is attributed to the well-established healthcare sector, increasing incidence rate of chronic conditions, and increased demand for enhanced treatment & diagnosis in hospitals.
Key Coverage of the Report
- Region and country wise statistics of the Peripherally Inserted Central Catheters market from the period 2023-2032. While 2022 & 2023 has been utilized as historical data, 2023 is considered the base year. 2023-2032 have been derived as forecasts.
- 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 Peripherally Inserted Central Catheters 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 Peripherally Inserted Central Catheters Market
- The Peripherally Inserted Central Catheters market is forecasted to grow at a rate of 5.6% during the forecast period and reach USD 22 Billion in 2032.
- Various initiatives taken by the market players are supporting the growth of the market. One of such mentionable initiative are new product launches and approvals. As an instance, in 2015, Teleflex Incorporated, one of the mentionable market players, had announced that it had received FDA market clearence for its ARROW Endurance™ Extended Dwell Peripheral Catheter System. Thus, the development of such new products by the market players have a positive impact on the overall growth of the market.
- A mentionable market trend of PICC market is increasing demand for antimicrobial PICCs. It is mentionable here that manufacturers of antimicrobial PICCs have ample scope of penetration in the Asia Pacific and US market.
Companies considered and profiled in this market study
- Bard Inc., AngioDynamics, Inc., B. Braun Melsungen AG, Teleflex Incorporated, Vygon S.A, Medtronic plc, Becton, Dickinson and Company, Cook Medical, Inc., Medical Component Inc., and Argon Medical Devices, Inc.
The companies have focused on various strategies like new product launches, acquisitions, and mergers to strengthen their market position and expand the market share.
- The valuation for Peripherally Inserted Central Catheters market was USD 840.0 Million in 2020, and it is forecasted to have a growth rate of 5.6% during the forecast period.
- In context to Product Type, the Power injected Peripherally Inserted Central Catheters segment can be seen to lead the market occupying a larger market share of more than 75.0% in 2023, with a growth rate of 6.1% during the forecast period. The market dominance of the Power injected Peripherally Inserted Central Catheters segment is attributed to the rise in accident and emergency cases in hospitals and applicability of these catheters in the ICUs wherein it can be used for hemodynamic monitoring, multipurpose central lines for any infusion, and for high-pressure injection of contrast media at the time of radiological procedures.
- In context to Design Type, the Multiple Lumen segment can be seen to hold a larger market share of more than 45.0% in in 2023, with a growth rate of 5.2% during the forecast period. The market dominance of the Multiple Lumen segment is attributed to its benefits, like several different infusion can be performed by care providers with only one access site, resulting in its high preference among care providers.
- While discussing Design Type, it is mentionable here that the Single Lumen segment is projected to witness the fastest CAGR of 6.1% during the forecast period, which is expected to occupy 24.0% of the market by 2032. The growth rate witnessed by the Single Lumen segment is resultant of reduced risk of infection, thrombosis, and occlusion associated with its use, due to which a large number of investigators are promoting its use that results in its growing popularity.
- In context to Application, the Intravenous Fluids segment is dominating the market that occupied more than 50.0% of the market in 2023, with a growth rate of 5.7% during the forecast period. Increasing rate of hospitalizations and the requirement of prescribing Intravenous fluids in various treatments contributes to the elevated use of PICCs in this segment.
- In regards to End-user, the Ambulatory surgical centers segment can be seen to witness the fastest growth rate of 7.7% during the forecast period, which is expected to occupy 0% of the market by 2032. The growing presence of Ambulatory surgical centers among care service users due to advantages like patient-friendly environment, presence of experienced healthcare professionals, and shorter stay at the care center contributes to the growth rate witnessed by this segment.
- In regards to Region, North America held the largest market share of more than 75.0% in 2023, with a growth rate of 5.1% during the forecast period. The market dominance of the region is attributed to the well-established healthcare sector, increasing incidence rate of chronic conditions, and increased demand for enhanced treatment & diagnosis in hospitals.
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 Peripherally Inserted Central Catheters market, according to Product Type, Design Type, Application, End-user, and Region:
Product Type Outlook (Revenue, USD Million; 2023-2032)
- Conventional Peripherally Inserted Central Catheters
- Power injected Peripherally Inserted Central Catheters
Design Type Outlook (Revenue, USD Million; 2023-2032)
- Multiple Lumen
- Double Lumen
- Single Lumen
Application Outlook (Revenue, USD Million; 2023-2032)
- Intravenous Fluids
- Blood Transfusions
- Other drugs
End-user Outlook (Revenue, USD Million; 2023-2032)
- Nursing Facility
- Ambulatory Surgical Centers
Regional Outlook (Revenue, USD Million; 2023-2032)
- North America
- Asia Pacific
- Latin America
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