Central Venous Catheters, Increasing Number of Patients in Healthcare Facilities to Drive Market
Global Information Inc. would like to present a new market research report, "Central Venous Catheters - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017" by GlobalData.
GlobalData estimated the global central venous catheters market at $582.2m in 2010. Driven by the success of antimicrobial central venous catheters, the market is forecast to reach to $727.4m in 2017 growing at a Compound Annual Growth Rate (CAGR) of 3.2%.
The antimicrobial central venous catheters market segment is expected to grow due to the increased focus on prevention of Healthcare Associated Infection (HAI), while the non-antimicrobial central venous catheters market segment will grow due to its low cost.
The largest central venous catheters market was that of the US, which was valued at $295m in 2010, having grown at a CAGR of 4.5% from 2003. The non-antimicrobial central venous catheters market segment was the largest market segment with revenues of $193.9m in 2010. The antimicrobial central venous catheters market segment was valued at $101.1m in 2010.
Patients who require the external administration of nutrition and medication consequently require the use of central venous catheters. The American Cancer Society estimates that about 1.64 million new cases of cancer will be detected in the US in 2012. The National Institutes of Health (NIH) estimate that the total costs due to cancer in 2007 were $226.8 billion, comprising $103.8 billion in direct medical costs and $123 billion in indirect mortality costs. Significant attention towards prevention of HAIs by the healthcare payers is also expected to drive the market growth.
The global central venous catheters market was dominated by Teleflex Incorporated (Teleflex) with a share of 47% in 2010. The acquisition of ARROW International helped Teleflex to maintain its leading position in the market. Teleflex is marketing a range of antimicrobial central venous catheters with the help of ARROW Internationals ARROWg+ard technology.
C. R. Bard Inc. (Bard) was second to Teleflex with a market share of 12% and revenues of $70m in 2010. The company offers a range of power injectable and non-power injectable range of catheters, as well as catheters for the administration of contrast material in contrast enhanced computed tomography scans.
B. Braun Melsungen AG (Braun) was third in the central venous catheters market with a market share of 9.2% and revenues of $54m in 2010 in the central venous catheters market. The company markets its products under the Certofix brand and provides single lumen to five lumen catheters which can be used in the administration of fluids, medication and for attaching Electrocardiograph (ECG) leads.
Increase in the Number of Patients Requiring Long Term and Prolonged Medical Care to Increase the Sale of Central Venous Catheters
Patients requiring long term medical care require external modes of fluid and medication administration, such as via a central venous catheter. The IARC estimated that there were 12.7 million new cases of cancer detected in 2008. In the same year it was estimated that over 7.6 million deaths were reported to have been caused by cancer. The IARC estimates that the total number of new cancer cases will rise to 21.4 million by 2030, and the total number of deaths due to cancer is estimated to reach 13.2 million. The growth and aging of the population are the main factors contributing to the rise in the number of cancer cases.
About the Report
GlobalDatas new report, "Central Venous Catheters - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017" provides key data, information and analysis on the global central venous catheters market. The report provides market landscape, competitive landscape and market trends information on the central venous catheters market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the markets dynamics. The report also reviews the competitive landscape and technology offerings.