July 13, 2024

The Increase In Cardiovascular Diseases And Cancer Cases In The U.S. Is Anticipated To Open Up The New Avenue For U.S. Central Venous Catheter Market

The U.S. Central Venous Catheter Market is estimated to be valued at Us$ 1086.86 Mn in 2023 and is expected to exhibit a CAGR Of 6.2% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Central venous catheters (CVCs) are thin tubes used to deliver medications, fluids, nutrients, or blood products directly into large veins. They aid in the treatment of cancers, cardiovascular diseases, infections and many other medical conditions. CVCs are commonly used to obtain vascular access in intensive care units and for long-term intravenous therapies. Common types of CVCs include peripherally inserted central catheters (PICCs), non-tunneled CVCs and implantable ports.

Market Dynamics:

The increasing prevalence of chronic diseases like cancer, cardiovascular diseases and diabetes in the U.S. acts as a major growth driver for the market. According to National Cancer Institute, in 2023, around 1.9 million new cancer cases are expected to be diagnosed in the U.S. Therapies like chemotherapy require long-term administration of medicines through CVCs. Moreover, increasing number of surgeries in the country fosters the need for reliable vascular access devices like CVCs. As per CDC, in 2022, over 200,000 coronary artery bypass graft surgeries were performed in the U.S. Further, technological advancements in catheter materials and designs help improve patient comfort and reduce complications, thereby boosting market growth. However, risks of bloodstream infections associated with CVCs and availability of alternative vascular access devices limit market expansion.

Segment Analysis

The U.S. Central Venous Catheter market is dominated by the peripherally inserted central catheter (PICC) sub-segment due to its advantages like improved patient comfort and convenience over other CVCs. PICCs can remain inserted for extended periods as they have a lower risk of complications compared to other CVC types.

PEST Analysis

Political: The market is positively impacted by the implementation of favorable government initiatives to increase healthcare access and spending.

Economic: Rising per capita healthcare expenditure in the U.S. fuels market growth.
Social: Growing prevalence of chronic diseases like cancer that require long-term CVC use influences demand.

Technological: Advancements in catheter materials and designs improve safety, efficacy and patient outcomes.

Key Takeaways

The Global U.S. Central Venous Catheter Market Size is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing prevalence of chronic diseases and rising number of surgical procedures.

The western region currently dominates the U.S. market due to presence of advanced healthcare infrastructure and high healthcare spending. However, the southern region is expected to register fastest growth attributed to increasing patient pool and establishing of new multispecialty hospitals.

Key players operating in the U.S. Central Venous Catheter market are 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,icumedical, Polymedicure, Lepu Medical Technology (Beijing) Co.,Ltd., VOGT MEDICAL, Â Gilead Sciences, Inc and ZOLL Medical Corporation

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it