Global Catheter Securement Device Market - 2022-2029

Market Overview

The global catheter securement device market size was valued at US$ XX million in 2022 and is estimated to reach US$ XX million by 2029, growing at a CAGR of 7.7% during the forecast period (2022-2029).

A catheter securement device is designed to hold the catheter in place securely and is used in minimally invasive surgeries, monitoring, and cleaning the insertion site. These devices can be used in children and adults who need catheterization, preventing the complications caused due to catheter movement during surgeries or medical procedures.

Market Dynamics

The major factors driving the global catheter securement device market are the rising usage of catheter securement devices due to the high adoption of minimally invasive surgery, growth in the geriatric population, an increase in technologically advanced novel products, and an increase in R&D by major market players.

The increasing catheter securement devices usage in minimally invasive surgery and rising technological advancements are expected to drive the market's growth

The catheter securement device market is driven by rising advancements in technology, an increase in the geriatric population, a surge in research and development investments and improvements in novel products using the latest technology in medical infrastructure in emerging markets. Increase in usage of catheter securement devices in minimally invasive surgeries across all the surgical procedures for restricting the movement of the catheters. The geriatric population is increasing globally; they are prone to chronic diseases and other health problems requiring surgical intervention.

Furthermore, prominent key market players and manufacturers are continuously working on new research and development and increasing investments to develop new products. An increase in technological advancement and a shift towards needle-free blood drawing devices were the catheters extensively used. An increase in hospitalizations, rise in investment and R&D boost market growth. Moreover, the availability of novel advanced products by key players is also expected to play a vital role in the market's growth.

Various novel product launches, research studies, and rising awareness initiatives about these catheter securement devices contribute to the market's growth. For instance, in February 23, 2022, Interrad Medical, a medical device company, announced the receival of an innovative technology contract for its SecurAcath device from Vizient Inc., a healthcare performance improvement company. The recommendation of innovative technology contracts takes place after the review or interaction via the innovative technology program of Vizient. The member-led councils of Vizient first identify the technologies that can enhance clinical care or patient safety along with the healthcare organization's business operations improvement.

High costs associated with catheter securement devices are expected to hamper the market's growth.

Major factors hindering the global catheter securement devices market are the high cost associated with the equipment, preferences towards alternatives and complications. The complications of inadequate or improper securement include infection, pistoning, migration and medical adhesive-related skin injury (MARSI).

Securement and dressing devices have various adverse effects. Repeating the adhesive dressings and tapes applying and removing them from one site can damage the skin by removing superficial stratum corneum, known as skin stripping, which can further cause edema, inflammation, soreness and skin reactions.

COVID-19 Impact Analysis

The pandemic has negatively impacted global financial expectations, operations and crisis response strategy. The COVID-19 outbreak has severely impacted the healthcare industry. The catheter securement device market has experienced huge losses due to COVID. Due to the reduction in surgical procedures, the catheter securement devices requirement was reduced, resulting in losses. Key manufacturers have started various research and clinical trials. Various initiatives, product launches, collaborations and mergers are happening worldwide, boosting the market's growth. For instance, in November 2021, CATHETRIX, a foley smart catheter fixations manufacturer, demonstrated their latest catheter stabilizer for urinary tract infection prevention at MEDICA 2021 in Germany.

Segment Analysis

The peripheral securement devices segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The peripheral securement devices segment is the highest market share in the global catheter securement device market. The global catheter securement device market is segmented by product type as peripheral securement devices, abdominal drainage tube securement devices, continuous nerve block catheter securement devices, chest drainage tube securement devices, arterial securement devices, epidural securement devices and all site securement devices. The peripheral securement devices segment is the largest market shareholder due to its inherent advantages and demand in the market owing to increasing cardiovascular and urological procedures, technological advancements and novel product launches.

These peripheral venous catheter securement devices are used to keep the venous catheter stable in the vein and cover the site of insertion for infection protection. A peripheral venous catheter is a device used for delivering intravascular fluids and medicines for a short period. It is the invasive surgery that is performed most frequently. Various securement or dressing devices are used to secure peripheral catheters. If the securement devices are ineffective, they will allow the device movement and exposure to infection leading to failures such as occlusion, phlebitis or infiltration. There are various kinds of peripheral securement devices.

The growing number of regulatory approvals, technological advancements, product launches, and research/clinical trial studies drive the market's growth. For instance, in June 1, 2022, Dale Medical Products Inc., an employee-owned company providing patient-friendly and high-quality medical device securement solutions, launched its BreezeLock endotracheal tube holder. Like the Stabilock endotracheal tube holder, this novel BreezeLock holder is a flexible, comfortable, soft neckband without any hard plastic parts. For easy repositioning of the tube, it includes a tube track that permits easy access to the mouth.

Geographical Analysis

North America holds the largest market share in the global catheter securement device market.

North America dominates the global catheter securement device market primarily due to its large population, excellent medical infrastructure, and high-income levels. The market is expected to grow at a relatively high pace during the forecast period due to healthcare expenditure in the US and the growing geriatric population. The market's significant size is attributed to the high medical expenditure.

Increasing expenditure on healthcare and raising awareness among people is also contributing to the market's growth in this region. Advancement of catheter securement devices and accessories, extensive usage of catheters in medical surgeries and procedures, high healthcare spending by individuals and government or institutional funding towards research and development of catheter securement/stabilization devices, increase in surgical procedures across the region, an increase in pharmaceutical establishment across the region and government approvals, and the presence of key players in the region contribute to the catheter securement device market growth.

Moreover, the growing number of product launches is responsible for the market's growth. Many key developments, technological advancements, collaborations, and agreements are taking place in this region. For instance, in Feb 23, 2022, Interrad Medical, a medical device company, announced its partnership with Eloquest Healthcare to accelerate SecurAcath sales growth in the U.S. Both companies together will offer hospitals with SecurAcath benefits that will reduce medical expenses and improve outcomes.

Competitive Landscape

The catheter securement device market is highly competitive with local and global companies' presence. 3M Company, B. Braun Melsungen AG, C. R. Bard, Inc., Convatec Group Plc, M. C. Johnson Company, Inc., Merit Medical Systems, Smith's Medical (ICU Medical), Cardinal Health, Interrad Medical, Dale Medical Products Inc. and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market's growth. For instance, in September 27, 2022, B. Braun Medical Inc., a pain management and infusion therapy developer, announced its acquisition of Starboard Medical Inc's portfolio of Clik-FIX, an innovative catheter securement device. This acquisition will help B. Braun in improving the experience of the patient and peripheral intravenous therapy outcomes.

B. Braun Melsungen AG

Overview: B. Braun is a company that manufactures medical and pharmaceuticals device. Headquartered in Melsungen, Germany and founded in 1839. They provide services in around 60 countries that employ around 63,000 people. They have around 5,000 varieties of healthcare products.

Product Portfolio:

Clik-FIX Peripheral: This is a catheter securement device that includes a foam base pad, a securement device, an extra foam tape strip and a transparent dressing. The foam base pad supports to maintain the insertion angle and minimize pressure injury risk.

The global catheter securement device market report would provide access to approx.: 45+market data table, 40+figures and 200 (approximate) pages.