CHICAGO, June 24, 2020
CHICAGO, June 24, 2020 /PRNewswire/ -- According to the new market research report "Catheter Stabilization /Securement Device Market by Product ((Arterial, CVS (Portal, Femoral), Chest, Epidural, Peripheral (Nasogastric, Endotracheal, Foley)), Application (Cardiovascular, Respiratory), & End User - Global Forecast to 2025", published by MarketsandMarkets™, the Global Catheter Stabilization Device Market is projected to reach USD 1.90 billion by 2025 from USD 1.18 billion in 2020, at a CAGR of 10.0% from 2020 to 2025.
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The Market growth is largely driven by factors such as the growing global prevalence of lifestyle diseases such as diabetes & cardiovascular diseases and the rising healthcare expenditure in developing economies as well as the development of technically sound securement devices. Emerging economies are expected to provide a wide range of growth opportunities for players in the market.
Peripheral catheter securement devices is expected to hold the largest share of the Catheter Securement Devices Market in 2020
On the basis of type, the Catheter Stabilization Device Market is segmented into peripheral catheter securement devices, arterial catheter securement devices, central venous catheter securement devices, chest drainage tube securement devices, abdominal drainage tube securement devices, epidural securement devices, and all-site securement devices. In 2019, peripheral securement devices segment accounted for the largest market share, primarily due to the growing use of these kits in home care settings and hospitals.
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Hospitals segment commanded the largest share of the Catheter Securement Devices Market in 2019
By end user, the Catheter Stabilization Device Market is segmented into hospitals, home care settings, emergency clinics and diagnostic imaging centers. Hospitals accounted for the largest share of the market in 2019. The large share of this segment can be attributed to factors such as the rapidly growing aging population and the increase in hospital reimbursements for surgeries performed in hospitals among others.
Cardiovascular procedures segment dominated the Catheter Stabilization Device Market in 2019
The Catheter Securement Devices Market, by application is segmented into cardiovascular procedures, respiratory procedures, gastric and oropharangeal procedures, general surgery, urological procedures, radiology, and other applications. In 2019, the cardiovascular procedures segment accounted for the largest share of the market. The large share of this segment can be attributed to the increasing incidence of cardiovascular diseases such as stroke and heart disease across the globe.
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North America commanded the largest share of the Catheter Securement Devices Market in 2019.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2019, North America commanded the largest share of the market. The large share of this market segment can be attributed to the increasing incidence of diabetes and heart diseases as well as the increasing adoption of technically sound securement devices in the region.
The major players operating in this Catheter Stabilization Device Market are 3M (US), C. R. Bard, Inc. (US), B. Braun Melsungen AG (Germany), Baxter International, Inc. (US), and Cardinal Health (US), ConvaTec Group plc. (UK), Merit Medical Systems (US), Smiths Medical (US), Centurion Medical Products (US), and M.C. Johnson Company, Inc. (US).
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