Gripping Progress: Advancements in Catheter Securement

Author : anushka jadhav | Published On : 02 May 2024

Catheter stabilization devices are medical tools used to securely hold intravenous catheters and other tubes in place. They help prevent accidental dislodging or movement and ensure optimal placement of catheters for efficient delivery of fluids, medications or collection of bodily samples. Catheter stabilization helps reduce catheter-related complications and allows for longer catheter usage between replacements. Common catheter stabilization products include securement devices, dressing products and specialized tapes or splints. The growing preference for minimally invasive procedures amongst patients and physicians has increased the demand for catheter stabilization devices significantly.

The Global Catheter Stabilization Devices Market is estimated to be valued at US$ 1.29 Bn in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030.

Key Takeaways

Key players operating in the Catheter Stabilization Devices are 3M (US), C.R. Bard, Inc. (US), ConvaTec Group plc (UK), Merit Medical Systems (US), B. Braun Melsungen AG (Germany), DeRoyal Industries, Inc. (US), Cardinal Health (US), Baxter International Inc. (US). The major players are focusing on new product launches and geographical expansion to gain more market share.

The growing prevalence of chronic diseases along with the rising global geriatric population is expected to drive the demand for long-term catheters. This in turn is projected to boost the catheter stabilization devices market.

Increasing healthcare expenditure, rising medical tourism and launch of advanced catheter securement technologies in developing regions is accelerating the global expansion of the catheter stabilization devices industry.

Market drivers
The increasing number of surgical procedures performed globally is a major growth driver for the catheter stabilization devices market. The rising incidence of lifestyle diseases, trauma injuries and growing demand for minimally invasive surgeries is contributing significantly to the number of interventional procedures performed annually. As catheter stabilization devices are core necessities during such procedures, their growing adoption rate will continue fueling market revenues over the forecast period.

Geopolitical Impact on Catheter Stabilization Devices Market Growth
The catheter stabilization devices market is witnessing fluctuations due to geopolitical tensions across various regions. Supply chain disruptions have been reported owing to lockdowns and restrictions imposed in China and other Asian countries during the initial phase of the COVID-19 pandemic. Access to raw materials was limited which hampered production activities. Similarly, the ongoing war between Russia and Ukraine has significantly impacted the European market. Catheter devices dependent regions like Germany have been heavily reliant on supplies from Russia and Ukraine for necessary materials. The ongoing conflict has led to raw material shortages and soaring commodity prices. While the US market has remained relatively stable, widespread inflation and recession fears are anticipated to negatively affect the overall demand for catheter devices in the coming years. To sustain long term growth, manufacturers need to diversify supplier bases and establish local/regional partnerships to reduce dependency on geo-politically volatile regions. Developing affordable product ranges and optimizing production costs will help boost access and adoption.

Major Geographical Regions for Catheter Stabilization Devices Market

North America currently accounts for the lion's share of the global catheter stabilization devices market in terms of value. Advanced healthcare facilities, rising prevalence of chronic diseases like cancer and presence of leading industry players have propelled the regional market. The US dominates catheter device demand and it is estimated that sales will continue growing steadily through the forecast period. Europe is also a substantive regional market buoyed by universal healthcare coverage and growing medical tourism in countries such as Germany and France. However, the ongoing Russia-Ukraine war may moderately impact the regional market growth trajectory going forward.

Asia Pacific presents enormous prospects for catheter stabilization devices market and is identified as the fastest growing region through 2030. Rapid economic development, improving access to insurance coverage, rising healthcare investments and expansion of healthcare infrastructure across developing nations are some of the key factors driving the APAC market. China and India with their huge patient pools will be the focal point for market players over the coming decade. Increasing collaborations by global industry players with local suppliers will help accelerate the regional market growth momentum.