Catheter Stabilization Devices Market Growth & Trends
The global catheter stabilization devices market size is expected to reach USD 2.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.3% from 2022 to 2030. The increasing usage of catheters, growing demand for minimally invasive surgeries, increasing prevalence of lifestyle-related diseases, rising number of surgeries being performed, and population aging are key contributors to market growth.
Intravascular catheters have become an essential part of patient care in hospitals and other healthcare settings. According to the Joint Commission, 3 million central venous catheters (CVC) are used in the U.S. annually, and around 250,000 CVCs are used in the U.K. annually. However, the rising use of catheters increases the risk of bloodstream infections related to its usage. Dislodgement, migration, accidental removal, or occlusion of catheters may lead to infections and complications and may pose a risk to patient safety. Thus, the surging number of catheter placements is one of the key contributors to the growth of this market.
Growing awareness among healthcare professionals and the increasing need to reduce the burden of catheter-associated infections are also expected to boost the adoption of stabilization devices. Catheter securement is crucial for reducing related infections & complications and thus, is gaining significance in patient care. Various national and government organizations, such as the CDC, Australia, and New Zealand Urological Nurses Society (ANZUNS), and Occupational Safety and Health Administration (OSHA), issue guidelines that recommend the use of securement devices in the treatment of patients.
The emergence of COVID-19 had slowed the market growth. The reason for this is a shortfall of raw materials for manufacturing equipment, supply chain slowdowns, manufacturing, and supply unit shutdowns, and a decrease in inpatient admissions to medical facilities. The COVID-19-affected patients were given priority, which resulted in the cancellation and delaying of all surgical treatments
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Catheter Stabilization Devices Market Report
Catheter Stabilization Devices Market Report Highlights
- The arterial securement devices segment held the majority of the revenue share in 2021 due to the frequent and widespread use of arterial catheters in modern healthcare practices
- CVC securement devices are expected to exhibit the highest growth during the forecast period due to their increasing usage in cardiac procedures
- Hospitals dominated the end-use segment in 2021 due to the large number of surgeries performed in hospitals and a high prevalence of infections
- North America dominated the global catheter securement devices market owing to increasing awareness levels, aging population, and large usage of catheters
- According to the Health Resources and Services Administration (HRSA), approximately 39,000 transplants were done in the U.S. in 2021. This statistic suggests a considerable demand for urinary catheter stabilization equipment, which is utilized in renal transplantation surgeries.
List of Key Players of Catheter Stabilization Devices Market
- C.R. Bard, Inc.
- Baxter
- 3M
- Centurion Medical Products.
- B Braun Melsungen
- Merit Medical
- Systems, Inc.
- ConvaTec, Inc.
- TIDI Products LLC.
- Smith’s Medical
