The U.S. Central Venous Catheter Market is estimated to be valued at USD 1,142.4 Mn in 2024 growing at a CAGR of 6.2% over the forecast period (2024 – 2031). The market is witnessing a high growth owing to increasing prevalence of chronic diseases such as cancer and cardiovascular diseases which has accelerated the demand for central venous catheter procedures in the country. Furthermore, the geriatric population in the U.S. which is more prone to chronic diseases has been rising rapidly over the past few years.
Market Dynamics:
The growth of the U.S. central venous catheter market is primarily driven by the increasing number of surgical procedures that require peripheral vascular access and rising cases of chronic diseases. According to the American Cancer Society, Inc., a non-profit organization dedicated to eliminating cancer, 2020 report, around 1.8 million new cancer cases were reported in the United States in 2020. Furthermore, cancer is one of the leading cause of death in the country. Central venous catheter find wide application during chemotherapy for cancer treatment. Consequently, high prevalence of cancer has resulted in increased demand for central venous catheter. Additionally, growing geriatric population is another major factor augmenting the market growth.
Increasing Number of Hospital Admissions is Driving Growth in the US Central Venous Catheter Market
The number of hospital admissions in the U.S. has seen a steady rise over the past decade. The rising hospitalization rates can primarily be attributed to factors such as increasing incidence of chronic diseases, growing geriatric population and improving access to healthcare facilities. With more patients being admitted to hospitals, there is a proportional rise in the demand for devices like central venous catheters which are commonly used for intravenous access, fluid administration, medication delivery and hemodynamic monitoring of critically ill patients. This increasing uptake of central venous catheters in hospitals across therapeutic areas is a major driver propelling the growth of the US central venous catheter market.
Advances in Catheter Technology is Fueling Market Growth in the U.S.
Continuous innovations and technological advancements in central venous catheter design have expanded their clinical applications, safety profile and overall usability. Catheter manufacturers are focusing on developing novel product lines with enhanced biocompatibility, reduced infection risks and improved functionality. For instance, the introduction of antimicrobial coated catheters and ultrasound-guided catheter placement techniques have nearly eliminated insertional complications. Likewise, development of minimal invasive devices like peripherally inserted central catheters (PICCs) have increased catheterization safety. Such advances are making central line procedures more efficient as well as decreasing procedural costs. Additionally, smartly designed catheters equipped with advanced features like enhanced tip location, integrated saline/drug infusion and proprietary locking mechanisms are witnessing increased demand across healthcare settings. Technological upgradation has certainly boosted the clinical significance of central venous catheters, thereby driving higher consumption in the US market.
Price Erosion of Generic Catheters Hampering Market Revenue Growth
The expiration of patents for several blockbuster central venous catheter brands coupled with entry of numerous generic manufacturers has led to steep price erosion of commonly used devices. Aggressive price wars initiated by generic players to gain market share have forced branded products to significantly lower their prices in order to retain customer loyalty. This intense competition and falling prices have severely dented the profit margins of major catheter brands. According to CMI Analysis, generic catheters now capture over 40% market share in the U.S. at substantially lower rates compared to their branded counterparts. Such price undercutting by generics poses a serious restraint on harnessing profitable revenue growth for overall central venous catheter market in the country. Unless novel high-value products are continuously introduced, declining prices will continue restricting market value expansion in the coming years.
Reimbursement Hurdles Limit Broader Commercialization Prospects
Reimbursement policies remain a major purchase consideration factor for US healthcare providers and institutions before procuring expensive medical devices like central venous catheters. However, gaining insurance coverage and due payment continues to be an uphill challenge for certain advanced or specialty catheters. While basic central line kits have well-defined payment codes, innovative technologies incorporating antibiotic coatings, ultrasound compatibility or extracorporeal functionalities often lack suitable reimbursement pathways. Similarly, public payers like CMS follow strict guidelines before providing remuneration for high-end catheters used in outpatient settings. Such lack of viable coverage and inconsistent reimbursement impede faster uptake of novel catheter designs as hospitals hesitate on investing in unsubsidized technologies. Overall, unfavorable reimbursement scenario limits broader commercialization opportunities of advanced central venous catheter platforms in the US domain.
Emergence of Ambulatory Cir Care Settings Opens New Avenues
With the paradigm shift towards ambulatory care, there is a rising demand for specialty catheters tailored for use in non-hospital settings such as physician offices, free-standing surgery/infusion centers and home care facilities. Several catheter providers are introducing compact peripherally inserted central catheters (PICCs), midline catheters and self-insertion kits particularly addressing the needs of mobile circulatory patients. Their ease of handling, long dwell time and cost-effectiveness make them ideal for frequent outpatient care purposes. Furthermore, growing home infusion services necessitate reliable catheters for self/family administered chemotherapy or TPN nutrition at home. Technology advances empowering telemedicine support and remote catheter monitoring can accelerate further market penetration across ambulatory points of care. This evolution of circulatory care outside hospitals opens up lucrative commercial avenues for user-friendly catheter designs enabling ambulatory therapies in the US.
Link- https://www.coherentmarketinsights.com/market-insight/us-central-venous-catheter-market-2610
Key Development
- In November 2023, CorMedix Inc., a biopharmaceutical firm, disclosed that the U.S. Food and Drug Administration (FDA) granted approval for DefenCath (taurolidine and heparin) catheter lock solution (CLS). This approval pertains to its application in mitigating the frequency of catheter-related bloodstream infections (CRBSIs) among a specific subset of the adult population afflicted with kidney failure undergoing chronic hemodialysis through central venous catheter (CVC).
- In June 2023, Merit Medical Systems, Inc., a renowned global manufacturer of medical devices, announced the successful acquisition of Bluegrass Vascular Technologies, Inc.'s Surfacer Inside-Out Access Catheter System. This strategic acquisition was finalized for a total cash sum of 5 million. The Surfacer System, a critical medical innovation, serves as a lifesaving solution for hemodialysis patients reliant on catheters. Additionally, it addresses the needs of patients with various medical conditions necessitating venous access, particularly those encountering central venous occlusions.
- In August 2022, Teleflex Incorporated, a prominent global manufacturer of medical technologies, announced its recent attainment of a contract awarded by Vizient, Inc., the largest member-driven healthcare performance improvement organization in the U.S. This contract signifies Teleflex Incorporated's designation as a provider of Central Venous Access solutions within Vizient Inc.'s network. Vizient Inc. serves over half of the U.S. acute care providers, making this partnership a significant advancement for Teleflex Incorporated in the healthcare industry.
Key Players: AngioDynamics, Inc, C.R. Bard, Inc, Teleflex Incorporated, B. Braun Melsungen AG, Medtronic Plc, Vygon Ltd., Cook Medical, Inc., Argon Medical Devices, Inc., ICU Medical, Inc., Theragenics Corporation, Becton, Dickinson and Company, Polymedicure, Lepu Medical Technology (Beijing) Co.,Ltd., VOGT MEDICAL, Gilead Sciences, Inc, and ZOLL Medical Corporation
