CENTRAL VENOUS CATHETER MARKET ANALYSIS

The increasing product recalls is expected to hamper the growth of the global central venous catheter market over the forecast period. For instance, in January 2020, ICU Medical, Inc., a company manufacturing medical technologies, initiated Class 2 device recall of heparin coated central venous catheter due the inability of the guidewire to pass through the needles included with the catheter kits. Moreover, in January 2019, Arrow International Inc., a part of the Teleflex Inc., a medical device company, initiated the Class 2 Device Recall of Arrow QuadLumen central venous catheterization kits, as the product contained incorrect banner card within the kit.

Market Opportunity – Development of Bioabsorbable Catheters

The development of bioabsorbable catheters represents a major opportunity in the global central venous catheter market. Bioabsorbable catheters are made from materials that can dissolve and disappear in the body over time without needing subsequent removal procedures. This offers several advantages over traditional plastic catheters. Currently, most central venous catheters are made of non-absorbable plastics like polyurethane and silicon. While effective, these catheters must be surgically removed once therapy is completed. This subjects patients to additional risks of complications from invasive procedures. It also increases the length of hospital stay and healthcare costs. In contrast, bioabsorbable catheters eliminate the need for catheter removal procedures as the material is absorbed safely by the body. This makes them particularly beneficial for short-term applications where the risk of complications from removal may outweigh the benefits.