Catheter Stabilization Device/Catheter Securement Device Market worth $1.6 Bn by 2024

Tuesday 18 June 2019, Amsterdam

The report "Catheter Stabilization Device/Catheter Securement Device Market by Product ((Arterial, CVS (Portal, Femoral), Chest, Epidural, Peripheral (Nasogastric, Endotracheal, Foley)), Application (Cardiovascular, Respiratory), End User - Global Forecast to 2024", is projected to reach USD 1.6 billion by 2024 from USD 1.1 billion in 2019, at a CAGR of 7.5% from 2019 to 2024. Market growth is largely driven by factors such as the growing global prevalence of lifestyle diseases such as diabetes and cardiovascular diseases, 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 are expected to dominate the catheter securement devices market in 2019.
On the basis of type, the catheter securement devices market is segmented into arterial securement devices, central venous catheter securement devices, peripheral securement devices, chest drainage tube securement devices, abdominal drainage tube securement devices, epidural securement devices and all site devices. In 2019, peripheral securement devices are expected to account for the largest market share. Growing use of these kits in home care settings and hospitals is driving the growth of this segment.

Hospitals expected to dominate the catheter securement devices market in 2019.
By end user, the catheter securement devices market is segmented into hospitals, home care settings, emergency clinics and diagnostic centers. In 2019, hospitals are expected to account for the largest share of 48% of the market. The large share of this segment can be attributed to factors such as the rapidly growing aging population, the increase in hospital reimbursements for surgeries performed in hospitals among others.

Cardiovascular procedures to dominate the catheter securement devices 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 catheter securement devices 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.

North America commanded the largest share of the catheter securement devices market in 2019.
On the basis of region, the catheter securement devices market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2019, North America commanded the largest share of the catheter securement devices 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 market are 3M Company (US), C. R. Bard, Inc. (US), B. Braun Melsungen AG (Germany), Baxter International, Inc. (US), and Cardinal Health (US), ConvaTec Inc. (UK), Merit Medical Systems, Inc. (US), Smiths Group plc (UK), Centurion Medical Products (US), and M.C. Johnson Company, Inc. (US).