Cancer prevalence, PN needs, and PICC approvals fuel market, while awareness campaigns and tunneled lines boost adoption. However, DVT and infection risks pose challenges. Explore full report for insights & opportunities.
NEWARK, Del., Jan. 10, 2024 /PRNewswire/ -- The Global Peripherally Inserted Central Catheter Market value is predicted to grow from US$ 1,037.0 million in 2023 to US$ 1,289.9 million in 2034. Overall demand for PICCs will likely increase at 2.2% CAGR throughout the assessment period.
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Peripherally inserted central catheters (PICCs) are in greater demand due to the rising prevalence of cancer. This is because chemotherapy medications are injected directly into the veins using PICCs, preventing vein discomfort.
The need for peripherally inserted central catheters is also expected to rise in response to the growing need for parental nourishment in people with illnesses or ailments affecting food intake and nutritional digestion. Further, the market is anticipated to expand globally due to the continuous approval of PICC products.
Programs that raise awareness of cancer aim to reduce the stigma and fear related to cancer treatment. This could indirectly encourage the use of PICC lines and other medical interventions in general, increasing their acceptance of longer-term intravenous therapies.
Increasing cancer awareness campaigns and the development of tunneled PICC products have facilitated market growth and are anticipated to drive its expansion in the future. However, the peripherally inserted central catheter industry is expected to face challenges due to several variables, including a rise in deep vein thrombosis and a high risk of bloodstream infections.
Key Takeaways from the Market Study
- The global PICC market is projected to total US$ 1,289.9 million in 2034.
- By product, power injected PICC segment is expected to display a CAGR of 2.2% over the forecast period.
- By lumen, double lumen segment is expected to show a CAGR growth of 3.0% over the forecast period.
- By application, the long-term IV infusion segment is projected to surge at a CAGR of 0.8% by 2034.
- North America is anticipated to witness a CAGR of 1.2% through 2034.
- The United States market value is set to total US$ 545.82 million by the end of 2034.
"Rising focus on combating hospital-acquired infections and growing geriatric worldwide are expected to boost the peripherally inserted central catheter market over the forecast period,"- says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
Scope of the Report
Attribute | Details | ||
Estimated Market Size (2024) | US$ 1,037.0 million | ||
Projected Market Size (2034) | US$ 1,289.9 million | ||
Expected Growth Rate (2024 to 2034) | 2.2% CAGR | ||
Forecast Period | 2024 to 2034 | ||
Historical Data Available for | 2019 to 2023 | ||
Market Analysis | US$ Million for Value | ||
Key Countries Covered | • United States • Canada • Mexico • Brazil • Chile • Rest of Latin America • China • Japan • South Korea • India | • ASEAN Countries • Australia & New Zealand • Rest of South Asia and Pacific • Germany • Italy • France • United Kingdom • Spain • BENELUX • Nordic Countries | • Rest of Western Europe • Russia • Hungary • Poland • Rest of Eastern Europe • Saudi Arabia • Türkiye • South Africa • Other African Union • Rest of Middle East & Africa |
Key Segments Covered | •By Product: o Conventional PICC o Power Injected PICC o Neonatal PICC •By Lumen: o Single Lumen o Double Lumen o Multiple Lumen •By Application: o Chemotherapy o Long-term IV Infusion o Parenteral Nutrition o Blood Transfusion o Difficult Intravenous Access o Others •By End User: o Hospitals o Cancer Research Institutes o Long Term Care Centers o Independent Infusion Centers o Ambulatory Surgical Center o Home Care Settings •By Region: o North America o Latin America o East Asia o South Asia & Pacific o Western Europe o Eastern Europe o Middle East & Africa | ||
Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives | ||
Leading Companies in Peripherally Inserted Central Catheters Industry and Their Winning Strategies
Key PICC manufacturers are concentrating on introducing novel solutions with enhanced features, including antimicrobial coatings. They also employ strategies like facility expansions, mergers, agreements, collaborations, and acquisitions to boost their revenue and expand their footprint.
Leading Companies in Peripherally Inserted Central Catheters Industry:
- Vygon (UK) Ltd
- Becton, Dickinson and Company
- Cardinal Health, Inc.
- ICU Medical, Inc.
- Kimal Plc
- Polymedicure
- Teleflex Incorporated
- AngioDynamics
- B. Braun Medical Ltd
- Haolang Technology (Foshan) Limited Co., Ltd.
- Medical Components, Inc
- Argon Medical
- Access Vascular, Inc.
- Utah Medical Products, Inc.
- Biowy Corporation
- Medi-Tech Devices
- Footprint Medical Incorporated
- PFM Medical, Inc.
- HuskMedical
- NeoMedical
- Cook Medical
Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.
Recent developments:
- In June 2023, Cardinal Health announced that it would build a new distribution center in Greenville, South Carolina. The new distribution hub will give medical supply providers to Americans with critical and chronic health conditions.
- In May 2023, Teleflex Incorporated launched two new devices, Arrow® VPS Rhythm® DLX Device and NaviCurve Stylet, designed explicitly for PICC insertion procedures.
Want More Insights?
Future Market Insights (FMI) brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2034. The global peripherally inserted central catheter market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights into peripherally inserted central catheter industry based on product (conventional PICC, power injected PICC, neonatal PICC), lumen (single lumen, double lumen, multiple lumen), application (chemotherapy, long-term IV infusion, parenteral nutrition, blood transfusion, difficult intravenous access, others), end user (hospitals, cancer research institutes, long term care centers, independent infusion centers, ambulatory surgical center, home care settings), and regions.
About Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here.
About the Author:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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