Global central venous catheter market was valued at USD 1167.4 million in 2017, and is projected to exhibit a CAGR of 6.2 percent from 2018 – 2026.
Launch of novel catheter systems by market players to augment the market growth
Key players in the market are focused on launching novel catheters in order to reduce thrombus accumulation and address the critical unmet needs of patients in venous access. For instance, in February 2018, Access Vascular received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for HydroPICC, a peripherally inserted central catheter, intended for long-term use. The catheter demonstrated a 30x reduction in platelet count in the pre-clinical testing.
Similarly, in August, 2017, Bactiguard’s central venous catheter received regulatory approval in India by Ministry of Health & Family Welfare, thereby providing new opportunities for Bactiguard in offering effective infection prevention among the fastest growing markets in the world. In 2016, Bluegrass Vascular Technologies received CE Mark approval for Surfacer Inside-Out Access Catheter System that is used for obtaining central venous access to facilitate catheter insertion into the central venous system via a novel Inside-Out approach. The innovative approach preserves right-sided venous access despite chronic occlusion and retains the viability of other existing central veins.
Key players in the market are focused on adopting strategies such as mergers and acquisitions to enhance their product portfolio. For instance, in July 2018, Becton, Dickinson and Company acquired TVA Medical, Inc., a company involved in developing minimally-invasive vascular access solutions for patients with chronic kidney disease requiring hemodialysis. – Coherent Market Insights