Catheter Stabilization Devices Market - Growth, Trends, and Forecasts (2022 - 2027)

The catheter stabilization devices market is expected to register a CAGR of nearly 6.5% during the forecast period, (2022-2027).

The COVID-19 pandemic is an unprecedented health concern and has significantly impacted the catheter stabilization devices market. As a result, the increasing number of COVID-19 patients is going to result in a rise in demand for intubation, ventilators, and ventilation stabilization supplies such as catheter securement devices. However, the number of surgical procedures reduced during the pandemic, which indicates the reduced demand for catheter stabilization devices during the COVID-19 pandemic. According to the article 'Impact of COVID-19 on General Surgical Practice in India', published in June 2020, it was observed that post-lockdown daily out-patient visits were reduced to four patients/day in India, and around 77% of the professionals did not perform even a single surgical procedure. Furthermore, only urgent surgeries were allowed during the pandemic, and most cardiac procedures were canceled or postponed due to the diversion of resources toward the affected patients. Thus, the pandemic has had a negative impact on the market.

The growth of the market can be attributed to the factors such as the growing burden of lifestyle diseases, increasing demand for minimally invasive surgeries as well as growing awareness pertaining to catheter-related complications. For instance,burden of cardiovascular diseases also generates a need for interventional cardiology devices. For instance, According to the data published by the European Heart network in 2021 reported that in the European Union more than 60 million people live with Cardiovascular disease and close to 13 million new cases of cardiovascular diseases are diagnosed every year.

Additionally, According to a study published by the British Heart Foundation in July 2020, there were approximately 7.5 million people with heart disease in the United Kingdom and nearly 170,000 deaths each year, an average of 460 fatalities each day or one death every three minutes happen in the United Kingdom due to cardiovascular disorders (CVDs). As catheter stabilization devices are used in cardiovascular surgeries, the statistics indicate that the demand for such devices is increasing with the growing burden and consequences of CVDs.

Thus, several market players are implementing strategic initiatives, which are contributing to market growth. For instance, in June 2021, STARBOARD MEDICAL, INC., a medical technology company focused on improving the securement of patient catheters, announced that the United States Patent and Trademark Office (USPTO) recently issued another United States Patent, No. 11,020,566 B2, for Starboard's Clik-FIX catheter securement line. The awarded patent further strengthens the company's intellectual property portfolio, expanding its patent claims and solidifying new design improvements.

However, preference for alternative products and product recalls are the factors restraining the market growth.

Key Market Trends

Urinary Catheters Securement Devices is Expected to Hold a Significant Share in the Catheter Stabilization Market Over the Forecast Period

By product, the urinary catheter securement devices segment is expected to hold a significant market share. A catheter securement device or retaining device is a product that is used to secure an indwelling urinary catheter. It is essential to prevent urethral trauma.

The major factors fueling the market growth are the implementation of strategic initiatives by the market players as well as the increasing number of surgical procedures.

The rising number of surgeries is contributing to the growth of this segment. For instance, as per a March 2022 update by the Health Resources & Services Administration (HRSA), around 24,670 kidney transplants were performed in 2021 in the United States. As urinary catheter stabilization devices are used in renal transplantation procedures, this number indicates a significant demand for these devices.

In addition, several market players are engaged in implementing strategic initiatives, thereby boosting market growth. For instance, in November 2021, CATHETRIX, an innovative developer of urinary (Foley) smart catheter fixations, presented its new catheter stabilizer for the prevention of UTIs and accidental Foley catheter extractions at MEDICA 2021, which took place between November 15-18 in Dusseldorf, Germany.

Thus, due to the above-mentioned factors, the market is expected to witness significant growth over the forecast period.

North America is Estimated to Hold the Large Share in the Studied Market Over the Forecast Period

Within North America, the United States has held the major share of the market. The major factors contributing to the market growth are the growing number of surgical procedures, the presence of strong market players as well as improved healthcare infrastructure.

According to the Center for Disease Control and Prevention (CDC)'s Article titled 'Heart Disease Facts' updated in September 2020, heart diseases are the leading cause of death in the United States. The same source also reports that every year about 805,000 Americans have a heart attack. As the mortality due to heart diseases, there is a continuous need for treatment devices for such diseases.​ According to the Center for Disease Control and Prevention report in 2020, about 600,000 women in the United States have a hysterectomy every year. All these procedures require catheter stabilization devices, boosting the market growth in the country.

Several market players are also launching products, which is boosting the market growth. For instance, in February 2020, Levity Products Incorporated released a set of newly patented and clinically proven external catheter stabilizers, a new medical device known as The LECS that is expected to revolutionize the catheter stabilization market.

In addition, in March 2021, Argon Medical Devices launched the minimally invasive drainage catheter, called the Skater mini-loop drainage catheter, placed through the skin using image guidance as a minimally invasive procedure for removing or draining unwanted fluid collection.

Thus, due to the above-mentioned factors, the market is expected to witness significant growth over the forecast period.

Competitive Landscape

The catheter stabilization devices market is moderately competitive with the presence of several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, mergers, and acquisitions. Some of the major players in the market are B. Braun Melsungen AG, Baxter, Becton, Dickinson & Company, Centurion Medical Products, and 3M.

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