Global Central Venous Catheter Market to Surpass $3.06 Billion by 2027

According to Coherent Market Insights, the global central venous catheter market is estimated to be valued at $2 billion in 2020 and is expected to exhibit a compound annual growth rate (CAGR) of 6.2 percent during the forecast period (2020-2027).
 
Increasing number of approvals and launch of novel catheters is expected to fuel growth of the global central venous catheter market. In February 2018, Access Vascular Inc. received approval from the U.S. Food and Drug Administration (FDA) for the HydroPICC catheter for peripheral access of the vein.
 
Furthermore, the increasing prevalence of diseases such as cancer and end stage renal disease which require longer duration therapies (dialysis and chemotherapy) is expected to fuel growth of the global central venous catheter market. According to the National Center for Chronic Disease Prevention and Health Promotion, in 2017, around 30 million people or 15 percent of U.S. adults had chronic kidney disease.
 
North America central venous catheter market is expected to hold dominant position in the global central venous catheter market during the forecast period owing to an increasing number of product launches and approvals of central venous catheters. For instance, on April 3, Bluegrass Vascular Technologies, a medical technological company, received a de novo classification order by the FDA for the Surfacer Inside-Out Access Catheter System. The system is developed to obtain central venous access for catheter insertion in central venous system for patients suffering from upper body venous occlusions.
 
The global central venous catheter market value is expected to exhibit a CAGR of 6.2 percent during the forecast period due to product launches and product approvals associated with central venous catheters by regulatory bodies.
 
Key players operating in global central venous catheter market are AngioDynamics Inc., Lepu Medical Technology Co. Ltd., KIMAL PLC, Prodimed Benelux B.V, Terumo Corporation, Medtronic plc, Teleflex Incorporated, Becton, Dickinson and Company, Amecath, ICU Medical Inc., Edwards Lifesciences Corporation, Cook Group, Nipro Corporation, Bactiguard, Vygon (UK) Ltd., Guangdong Baihe Medical Technology Co., Ltd., Wujiang Evergreen EX/IM Co. Ltd., and ZOLL Medical Corporation.