Global 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) 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), as highlighted in a new report published by Coherent Market Insights.
The strategies by key market players like acquisitions is expected to drive the global peripherally inserted central catheters market growth over the forecast period. For instance, on June 9, 2023, Merit Medical Systems, a U.S.-based manufacturer and marketer of proprietary disposable medical devices, announced a pair of acquisitions aimed at expanding its catheter offerings in the dialysis market. The company said it paid US$ 100 million in cash to acquire dialysis catheters and a sealant system from AngioDynamics, a U.S.-based transformative medical technology company, and US$ 32.5 million to buy a Surfacer catheter system, which provides central venous access from Bluegrass Vascular Technologies, Inc., a U.S.-based private medical technology company. The combined acquisitions are expected to add about US$ 30 million of revenue annually in key markets, leveraging Merit’s existing commercial footprint. The two deals are complementary to MMSI’s existing dialysis and biopsy products.
Global Peripherally Inserted Central Catheters Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others faced problems regarding transportation of drugs from one place to another.
COVID-19 had negative impact on the global peripherally inserted central catheters market due to increasing risk of catheter related infections in patients having catheters. For instance, according to an article published by the American Journal of Infection Control on May 07, 2023, a study was conducted on 227 patients in clinical care during the SARS-CoV-2 pandemic to study impact of peripherally inserted central catheters (PICCs) and midline catheters (MCs) for venous access inserted by ultrasound-guided puncture of veins of the arm, which have been associated with the possibility of minimizing infectious complications in different populations of patients. Their performance in SARS-CoV-2 patients was investigated. The cumulative incidence of catheter-related bloodstream infections (CRBSI) was 4.35% (10 cases), that is, 3.5 episodes/1,000 catheter days. Four CRBSI occurred in patients with PICCs (4.5/1,000 catheter days) and 6 in those with MCs (3.2/1,000 catheter days). Hence it was concluded that COVID-19 patients may have a more pronounced tendency for the development of catheter-related infections compared to other populations of patients.
Global Peripherally Inserted Central Catheters Market: Key Developments
Increasing launch of new range of products that can improve the efficacy of peripherally inserted central catheters and is expected to drive the market growth.
For instance, on June 8, 2023, TRACTUS VASCULAR, LLC, a U.S.-based endovascular catheter solutions company, announced that it has secured 510(k) clearance from U.S. Food and Drug Administration for Tunnel CC, its Tunnel Crossing Catheter. The Tunnel CC features a unique design that allows it to provide better and potentially best-in-class treatment for both arterial and venous occlusions. Tractus plans to leverage its Jigsaw Technology to extend its crossing device portfolio, particularly in situations where maximum resistance to buckling and enhanced push force are required. It comes in lengths of 90cm, 135cm, 155cm, and 170cm, and compatibility with 0.014″, 0.018″, and 0.035″ guide wires.
On June 8, 2023, Inari Medical, U.S. based medical technology manufacturer launched two new purpose-built thrombectomy catheters to address the needs of venous stent thrombosis and venous thromboembolism (VTE). The two products are the Triever16 Curve catheter and the RevCore thrombectomy catheter. Triever16 Curve catheter is designed for use in both peripheral thrombectomy and pulmonary embolism procedures. Triever16 Curve is a highly trackable catheter equipped with a pre-shaped curve for targeted aspiration and it further provides distinct benefits compared to 16F continuous aspiration catheters. The advantages include its compatibility with the FlowSaver blood return system and convenient accessibility to larger and more potent 20F or 24F catheters. RevCore is claimed to be the first mechanical thrombectomy device developed to treat venous in-stent thrombosis. The device comes with an advanced diameter-controlled coring element specially created to safely engage thrombus within stents.
Increasing approval of new range of products that can improve the efficacy of peripherally inserted central catheters and is expected to drive the market growth. For instance, on Septmber 28, 2021, Medtronic, Ireland based medical equipment manufacturer received European approval for the Rist 079 Radial Access Guide Catheter and the Radial Access Selective Catheter, both of which are cleared for use in inserting interventional devices into the peripheral, coronary and brain blood vessels. The latter can also be used to transport diagnostic agents into the neurovascular system.
Browse 30 Market Data Tables and 26 Figures spread through 160 Pages and in-depth TOC on Global 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)
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Key Takeaways of the Global Peripherally Inserted Central Catheters Market:
- Global peripherally inserted central catheters market is expected to exhibit a CAGR of 6.9% during the forecast period. Funding raised by key market players is expected to accelerate its research & development activities. For instance, on May 30, 2023, Revamp Medical, Inc., an Israel-based privately held clinical-stage medical technology company committed to developing solutions for Heart Failure congestion management, announced closing of a Series A preferred stock financing led by KCK Medtech, a U.S.-based Venture capital fund. Major existing investors Arkin Holdings, an Israel-based venture capital firm and Accelmed, an Israel-based firm that funds private and public medical device companies also participated in the financing as well as Michael Berman, which will support continued development of the Revamp clinical program. The Doraya catheter is placed temporarily in the inferior vena cava just below the renal veins to reduce renal afterload, central venous pressure, and venous return, which may enhance blood flow through the kidneys and improve diuresis.
- Among product type, dual lumen segment is expected to dominate the global peripherally inserted central catheters market over the forecast period, owing to launch of new dual lumen catheters. For instance, on April 25, 2022, Franklin Mountain Group, a U.S.-based distributor of medical equipment and devices announced that the company has received U.S. Food and Drug Administration clearance of its patented UltraNav Transseptal Catheter System for controlled access and delivery of cardiovascular catheters and guidewires to the heart chambers via transseptal puncture. The UltraNav system is designed to significantly enhance visualization and address specific challenges with current transseptal practice. The UltraNav device is a dual-lumen catheter that enables side-by-side, simultaneous delivery of both ICE and trans-septal needles and catheters through one dual-lumen device. The catheters are fixed in position together. This allows the ultrasound beam to lie in the same plane as the trans-septal catheter and provides precise and complete visualization of catheter orientation, needle length, and needle tip location relative to the cardiac structure.
- Among region, North America is expected to be the dominant region in the global peripherally inserted central catheters market, owing to the increasing launches of newer catheters in the region. For instance, on May 2, 2023, Teleflex Incorporated, a U.S.-based global provider of medical technologies, announced it launched two new devices to enhance peripherally inserted central catheters (PICC) insertion procedures and reduce complications. The company launched the Arrow VPS Rhythm DLX device and the NaviCurve stylet, both of which Teleflex designed to work together to give vascular access specialists more efficient and predictable PICC placement. VPS Rhythm DLX gives physicians real-time catheter tip location information using the patient’s cardiac electrical activity. The device is available with an optional integrated ultrasound featuring a catheter-to-vessel ratio tool that promotes standardization in vessel measurement. It can work with the Arrow PICC preloaded with the NaviCurve stylet for tip navigation/location technologies. VPS Rhythm DLX with TipTracker technology eliminates the need for a confirmatory x-ray and helps clinicians insert seamlessly through ultrasound vessel assessment, PICC navigation, to final tip confirmation in the lower third of the superior vena cava.
- Major players operating in the global peripherally inserted central catheters market include AngioDynamics Inc., B. Braun Melsungen AG, Becton, Dickinson and Company, Teleflex Incorporated., Argon Medical Devices, Inc., Cook Medical Inc., ICU Medical, Inc., Medical Components, Inc., Access Vascular, and Vygon (UK) Ltd.
