CENTRAL VENOUS CATHETER MARKET ANALYSIS

Central Venous Catheter Market Size and Trends

The global central venous catheter market is estimated to be valued at USD 2.36 Bn in 2024 and is expected to reach USD 3.72 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.

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The global central venous catheter market is driven by the rising prevalence of chronic and lifestyle diseases. Long-term usage of catheters in homecare settings and ambulatory surgical centers is also expected to support market growth. However, risks of bloodstream infections, deep vein thrombosis associated with central line placement, and poor reimbursement policies in developing nations may hamper the market growth during the forecast period.

Market Driver – Increasing Adoption of Inorganic Growth Strategies

The increasing adoption of inorganic activities by market players such as signing distribution agreements is expected to drive the market growth over the forecast period. For instance, in August 2021, ZOLL Medical, a medical device company, and Wallaby Medical Technologies, a medical device company dedicated to stroke treatment, announced a distribution agreement, in which Wallaby will manage the sales and distribution of ZOLL Medical's temperature management products in China. The Thermogard XP Intravascular Temperature Management System (IVTMTM) provides healthcare providers with the precision and speed associated with high-quality targeted temperature management (TTM), resulting in clinically demonstrated improvements in neurological outcomes among cardiac arrest survivors. The system includes a family of heat-exchange catheters that allow clinicians to manage core body temperature based on the patient’s needs.

Increasing adoption of growth strategies, such as product approvals by regulatory authorities such as the U.S. Food and Drug Administration, is expected to drive the market growth over the forecast period. For instance, in March 2020, Access Vascular, Inc., a medical device manufacturer, received the U.S. Food and Drug Administration (FDA) clearance for the second generation of its HydroPICCTM peripherally inserted central catheter (PICC).