PERIPHERALLY INSERTED CENTRAL CATHETERS MARKET

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2. PERIPHERALLY INSERTED CENTRAL CATHETERS MARKET ANALYSIS Peripherally Inserted Central Catheters Market, By Product Type (Single Lumen, Double Lumen, Multiple Lumen), By End User (Hospitals, Ambulatory Surgical Centers, Catheterization Laboratories), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

3. Statistics: • The global peripherally inserted central catheters market is estimated to account for US$ 1,256.1 Mn in terms of value by the end of 2027. • GlobalPeripherally Inserted Central Catheters Market: Drivers • Increasing prevalence of cancer is expected to propel growth of the global peripherally inserted central catheters market over the forecast period. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S. • Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.

4. North America held dominant position respectively in the global peripherally inserted central catheters market in 2019, accounting for 78.6% share in terms of value, followed by Europe and Asia Pacific.

5. Figure 1: Global Peripherally Inserted Central Catheters Market Share (%) Value, By Region, 2019

6. Market Restraints • The use of conventional peripherally inserted central catheters involves high risk of blood stream infection due to lack of extreme hygiene condition required at the peripherally inserted central catheters insertion point, which reduces its feasibility over a longer period of time. Such scenario is expected to hinder growth of the global peripherally inserted central catheters market.    • Moreover, low physician awareness of patient central lines is also expected to hinder growth of the market. • . For instance, in July 2020, the study, ‘Awareness of Central Venous Catheters: A Patient Safety Survey’, reported that many physicians are not aware of whether their patient has a central line.

8. Market Opportunities R&D in peripherally inserted central catheters is expected to offer lucrative growth opportunities for players in the global peripherally inserted central catheters market. For instance, in August 2019, researchers from NICU, General Hospital “AgiosPanteleimon”, Greece, and Royal Alexandra Children’s Hospital Brighton, U.K., reported that incidence of complications associated with the use of umbilical venous catheters and peripherally inserted central catheters in very low birth weight infants did not significantly differ in the study. Moreover, increasing adoption of home parenteral nutrition is also expected to aid in growth of the market.

9. Figure 2: Global Peripherally Inserted Central Catheters Market Value (US$ Mn), 2016 – 2027

10. Market Trends • Development of solutions that reduce the risk of catheter-related infections is expected to boost growth of the global peripherally inserted central catheters market. For instance, in June 2020, Interred Medical, a privately held medical device company, announced a new clinical data publication that demonstrated a significantly lower catheter-related infection risk with use of the SecurAcath Subcutaneous Catheter Securement Device. • Major players in the global peripherally inserted central catheters market are focused on adopting M&A strategies to expand their product portfolio. For instance, in January 2020, AngioDynamics acquired C3 Wave PICC tip location system from Medical Components Inc. The wireless technology eliminates the need for a confirmatory chest x-ray of peripherally inserted central catheters tip placement.

11. Competitive Landscape • Major players operating in the global peripherally inserted central catheters market include, AngioDynamics, Inc., B. Braun Melsungen AG, Becton, Dickinson and Company, Teleflex Incorporated, Argon Medical Devices, Inc., Boston Scientific Corporation, Cook Medical Inc., ICU Medical Inc., Medical Components, Inc., Access Vascular, Medtronic, Inc., and Navilyst Medical, Inc. • Key Developments • Major players in the market are focused on adopting partnership strategies to enhance their market share. For instance, in September 2019, Access Vascular, Inc. was awarded a group purchasing agreement for a Breakthrough Technology contract with Premier, which allows Premier members, at their discretion, to take advantage of special pricing and terms pre-negotiated by Premier for the HydroPICC peripherally inserted central catheter.

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