Peripherally Inserted Central Catheters Market, by Product Type (Single Lumen, Double Lumen, and Multi Lumen), by End User (Hospitals & Clinics, Ambulatory Surgical Centers, and Catheterization Laboratories), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) -

Published In : Jul 2023

Code : CMI4048

Pages :160

Formats :

Excel and PDF

Industry : Medical Devices

Peripherally Inserted Central Catheters MarketSize and Trends

Global peripherally inserted central catheters market is estimated to be valued at US$ 978.2 million in 2023 and is expected to exhibit a CAGR of 6.9% during the forecast period (2023-2030).

Market Size in 2023: US$ 978.2 Mn

Forecast Period: 2023 to 2030

Historical Data for: 2018 to 2021

Forecast Period 2023 to 2030 CAGR: 6.9%

2030 Value Projection: US$ 1,562.3 Mn

Figure 1. Global Peripherally Inserted Central Catheters Market Share (%), By Product Type, 2023

Global Peripherally Inserted Central Catheters Market– Drivers

Increasing prevalence of infectious disease

Increasing prevalence of infectious disease is expected to drive the global peripherally inserted central catheters market growth over the forecast period. For instance, according to the data shared by the Centers for Disease Control and Prevention, on January 25, 2023, worldwide burden of infectious diseases has increased from 37.9% to 61.8%. High-income nations like Italy, Japan, Singapore, and Canada typically account for more than 80 % of disease burden. In U.S. in 2020, the number of new cases of tuberculosis (8,916), salmonella (58,371), Lyme disease (34,945), and meningococcal disease (371) were rising constantly. Such infectious diseases require antibiotics therapy that uses peripherally inserted central catheters (PICC). This ultimately shows positive impact on global peripherally inserted central catheters market.

Increasing Launches of New Technologies & Products

Increasing launch of new products to make the working process of catheters more efficient is expected to drive the global peripherally inserted central catheters market growth. For instance, on February 2, 2022, Zeus Company Inc., a Singapore-based precision polymer manufacturer announced that it has added Polytetrafluoroethylene (PTFE) Sub-Lite-Wall multi-lumen tubing to its product portfolio. Zeus Company Inc.’s PTFE Sub-Lite-Wall multi-lumens have average max wall thicknesses ranging from 0.002" to 0.005" (0.051 mm to 0.127 mm). In addition to ultra-thin walls, the new product features high structural integrity, improved planarity, high lubricity, and excellent dielectric strength. It is biocompatible (certified United States Pharmacopeia (USP) Class VI) and has a working temperature of 260 °C (500 °F).

Introduction of newer products and technologies by key market players in Europe region is expected to drive growth of product type in the region. For instance, on February 12, 2021, MedLumics, a Spain-based manufacturer of radiofrequency cardiac ablation system’s AblaView, an optically-guided real-time ablation catheter system for the treatment of Atrial Fibrillation (AF), has closed a US$ 19.5 million financing round. Having achieved pre-clinical feasibility in 2020, these proceeds will now enable MedLumics to initiate first in-human regulatory clinical studies and automate scalable product manufacturing.