May 18, 2024
Central Venous Catheter Market

U.S. Central Venous Catheter Market is Expected to be Driven by Growing Prevalence of Cancer

The U.S. Central Venous Catheter Market is driven by the growing prevalence of cancer cases in the country. Central venous catheters are critical devices for the administration of chemotherapy, blood transfusions, antibiotics, and total parenteral nutrition to cancer patients. Some key uses of central venous catheters include the delivery of cancer treatments directly into large veins in the upper chest, neck or groin. These catheters can remain in place for weeks or months and enable repeated access to the bloodstream without multiple needle sticks.

The global U.S. Central Venous Catheter Market is estimated to be valued at US$ 1 billion in 2024 and is expected to exhibit a CAGR of 19% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The growing prevalence of cancer diseases as referenced earlier presents a significant opportunity for the U.S central venous catheter market to flourish. According to recent statistics, approximately 1.8 million new cancer cases are diagnosed in the U.S every year. Central venous access becomes imperative for the administration of cancer therapies and enhances the treatment outcomes.

Another key factor augmenting the market growth is the rising adoption of advanced central venous catheter types such as PICCs, non-tunnelled and tunnelled catheters in cancer and other chronic disease treatment facilities across the U.S. The ability of these devices to enable long term vascular access without needle intervention simplifies the treatment process and promotes patient comfort and convenience. In addition, growing healthcare expenditure along with increasing focus on cancer care provision further supports the market expansion over the forecast period.

Segment Analysis:
U.S. Central Venous Catheter Market is dominated by the non-tunneled central venous catheters sub segment which holds around 60% market share. This is because non-tunneled central venous catheters are commonly used for short term central venous access which average between a few days to a few weeks. These catheters are easy to insert and are cost effective.

PEST Analysis:
Political: The changing U.S. healthcare policies and regulations related to medical devices are influencing the market.
Economic: Growing geriatric population and rising prevalence of chronic diseases in the U.S. is fueling the demand for central venous catheters for drug administration and fluid therapeutics.
Social: Increasing awareness about potential advantages of central venous catheters is driving its adoption among patients and healthcare providers.
Technological: Advancements in material science and design of central venous catheters is allowing safer and longer catheter placement while reducing risk of complications.

Key Takeaways:
U.S. Central Venous Catheter Market Size is expected to witness high growth.

Regional analysis: The Western region dominates the U.S. Central Venous Catheter Market with over 45% share due to growing aging population, high healthcare expenditure and high adoption of advanced medical technologies in states like California and Washington.

Key players:
Key players operating in the U.S. Central Venous Catheter market are AngioDynamics, C. R. Bard, Teleflex Incorporated, Kimal, B. Braun Melsungen AG, Vygon, Cook Medical, Medtronic.

Key players operating in the (incorporate given market name) are AngioDynamics, C. R. Bard, Teleflex Incorporated, Kimal, B. Braun Melsungen AG, Vygon, Cook Medical, Medtronic. These key players are focusing on new product launches and expansion of regional presence for market consolidation.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it