The global PICC Catheter Market is forecast to reach USD 1,278.3 Million by 2028, according to a new report by Reports and Data. A peripherally inserted central catheter (PICC or PIC line), which is also called a percutaneous indwelling central catheter, is a type of of intravenous access. It can be applied for a prolonged period like for extended antibiotic therapy, long chemotherapy regimens, and for administration of substances, among others. A PICC is inserted in the arm in a peripheral vein like basilic vein, brachial vein, or cephalic vein, followed by which it is advanced proximally towards the heart through increasingly larger veins till it reaches cavoatrial junction or distal superior vena cava. It is usually inserted by physician assistants, physicians, specially trained certified registered nurses respiratory therapists, radiologist assistants, and radiologic technologists using chest radiographs, fluoroscopy, and ultrasound to ascertain its insertion and ensure placement. The insertion process is a sterile procedure; however, it doesnot require an operating room. When it is performed in homecare, an appropriate sterile field is needed to be maintained throughout the procedure. Supporting market factors like the rise in the incidence rate of chronic conditions, favorable reimbursement policies, and increasing expenditure in the healthcare sector are propelling the growth of the market. In regards to region, Europe can be seen to occupy a prominent market share. The market share held by the region is attributed to expanding healthcare sector, rising geriatric population and high incidence rate of chronic conditions.
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Further key findings from the report suggest
- The PICC Catheter market held a market share of USD 748.4 Million in the year 2018 that is forecasted to grow at a rate of 5.30% during the forecast period.
- In context to Product Type, the Power injected PICC Catheter segment generated a higher revenue of USD 595.0 Million in 2018, with a CAGR of 6.1% during the forecast period. The rise in accident and emergency cases in hospitals and applicability of these catheters in the ICUs wherein it can be used for hemodynamic monitoring, multipurpose central lines for any infusion, and high-pressure injection of contrast media at the time of radiological procedures results in its high demand and the revenue generated by this segment.
- In context to Application, the Chemotherapy segment is projected to witness the fastest growth rate of 6.9% during the forecast period, which is expected to occupy 19.0% by 2027. The rising incidence rate of cancer and associated elevated demand for chemotherapy results in increasing application of PICCs in this segment that contributes to the growth rate witnessed by this segment.
- In regards to End-user, the Hospitals segment held the largest market share of 57.0% in 2018, with a CAGR of 5.7% during the forecast period. The market share held by the Hospitals segment is attributed to a large number of surgeries being performed in hospitals, which results in high demand for these catheters in this end-user. Furthermore, continuous development in the healthcare infrastructure in developing nations and increasing hospital admissions due to chronic conditions also contributes to the market share held by this segment.
- In regards to the region, Asia Pacific is projected to witness the fastest growth rate of 9.0% during the forecast, which is expected to hold 0% of the market by 2027. The growth rate witnessed by the region is resultant of developing healthcare infrastructure and increasing incidence rate of chronic diseases in this region.
Key Players covered in this report are
- Bard Inc., AngioDynamics, Inc., B. Braun Melsungen AG, Teleflex Incorporated, Vygon S.A, Medtronic plc, Becton, Dickinson and Company, Cook Medical, Inc., Medical Component Inc., and Argon Medical Devices, Inc.
Product Type Outlook (Revenue, USD Million; 2018-2028)
- Conventional PICC Catheter
- Power injected PICC Catheter
Design Type Outlook (Revenue, USD Million; 2018-2028)
- Multiple Lumen
- Double Lumen
- Single Lumen
Application Outlook (Revenue, USD Million; 2018-2028)
- Intravenous Fluids
- Chemotherapy
- Blood Transfusions
- Other drugs
End-user Outlook (Revenue, USD Million; 2018-2028)
- Hospitals
- Nursing Facility
- Ambulatory Surgical Centers
- Homecare
Based on Region market is segmented into:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Major Points covered in this report are as below:
- An analysis of PICC Catheter industry development trends and marketing channels, as well as an assessment of the feasibility of new investment projects, is presented in the study.
- In addition to providing key statistics on the industry, the report provides valuable guidance and direction for companies and individuals interested in this market through tables and figures.
- In addition to developing policies and plans, this report analyzes manufacturing processes and cost structures. It also provides information about import/export demand, costs, prices, revenues, and gross margins.
- This report provides information on the market status of PICC Catheter manufacturers and provides valuable insight into the market for companies and individuals.
We can also provide the customized data for separate regions like North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
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