Central Venous Catheter Market Expected to Reach $4.7 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Central Venous Catheter Market," The central venous catheter market was valued at $2.6 billion in 2022, and is estimated to reach $4.7 billion by 2032, growing at a CAGR of 6.4% from 2023 to 2032.

Central venous catheters are thin tubes that are inserted into central vein commonly the internal jugular, subclavian, or femoral vein. The central venous catheters are available with various designs such as the single lumen, double lumen, triple lumen and multi lumen. In addition, anti-microbial catheters with the coating of anti-microbial agents are also employed for long term infusion.

Central Venous Catheter Market Trends such as rise in prevalence of cancer, surge in geriatric population, and increase in incidences of accidents drives the growth of global central venous catheter market. For instance, according to report of world health organization (WHO) published in February 2022, cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or nearly one in six deaths.

Moreover, increase in awareness of central venous catheters among the population, rise in adoption of advanced healthcare services, regulatory approvals for new devices, rise in product availability, and increase in healthcare expenditure notably contribute toward the growth of the Central Venous Catheter Industry. In addition, the various key players adopted strategies such as product launch and product acquisition, contributing to the growth of the market. For instance, in June 2023, Merit Medical Systems, Inc., a leading global manufacturer and marketer of healthcare technology, announced the acquisition of the Surfacer Inside-Out access catheter system from Bluegrass Vascular Technologies, Inc. The Surfacer is a unique device designed to obtain right-sided central venous access in patients with venous obstructions, providing this population with access to life-saving therapies including hemodialysis and chemotherapy.

However, the concern related to infections associated with central venous catheter and the product recall by manufacturers are expected to restrict the market growth. Conversely, increased adoption of central venous catheter among the population is expected to provide lucrative opportunities for the growth of the Central Venous Catheter Industry.

The central venous catheter market is segmented into product type, property, design, end user, and region. On the basis of product type, the market is bifurcated into tunneled catheters and non-tunneled catheters. On the basis of property, the market is bifurcated into antimicrobial catheters and non-antimicrobial catheters. On the basis of design, the market is classified into single lumen, double lumen and multiple lumens.

On the basis of end user, it is classified into hospitals, cancer treatment centers, and others. On the basis of region, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

On the basis of product type, the tunneled catheters segment is projected to exhibit the fastest Central Venous Catheter Market Share growth during the forecast period owing to an increase in the adoption of tunneled central venous catheters and rise in the prevalence of chronic diseases.

On the basis of property, the antimicrobial catheters segment is projected to exhibit the fastest market growth during the Central Venous Catheter Market Forecast period owing to an increase in the adoption of antimicrobial central venous catheter and rise in the prevalence of cancer.

On the basis of design, the double lumen segment is projected to exhibit the Central Venous Catheter Market Analysis market growth during the forecast period owing to an increase in the adoption of double lumen central venous catheters and advancements in double lumen catheters.

On the basis of end user, the cancer treatment centers segment is anticipated to grow at the highest rate due to an upsurge in prevalence of cancer patients. Moreover, increase in number of cancer treatment centers contribute toward the growth of the Central Venous Catheter Market Size.

In 2022, North America dominated the Central Venous Catheter Market Size and is expected to continue the same trend throughout the forecast period owing to high expenditure in the research and development activities by the market players, strong presence of key players, and surge in product launches in the region. However, Asia-Pacific is expected to witness the highest CAGR during the analysis period owing to increase in the number of patients of kidney failure, which helps to accelerate the demand for central venous catheters, thus fostering market growth. In addition, key players have adopted various strategies such as product launches and distribution agreements to strengthen their foothold in the market and gain a competitive edge.

Key Findings of the Study

• On the basis of product type, the non-tunneled catheters segment was the major Central Venous Catheter Market Sharecontributor in 2022.
• On the basis of property, the non-antimicrobial catheters segment was the major share contributor in 2022.
• On the basis of design, the double lumen segment is anticipated to grow with the highest CAGR throughout the forecast period.
• On the basis of end user, the cancer treatment centers segment is anticipated to grow with the highest CAGR throughout the forecast period.
• On the basis of region, North America occupied major share of the central venous catheter market in 2022.