The Global Catheter Stabilization Device Market generated revenue of around USD 1,180.3 million in 2020 and anticipated to grow at a CAGR of over 9.78% during the forecast period from 2021 to 2027 to reach around USD 2,310.4 million in 2027.
Global Catheter Stabilization Device Market, 2020 – 2027 (USD Million)
Stabilization device is a strap free disposable catheter holding device. These devices are medical attachments which are used to hold the catheter firmly in place that reduces the risk of urethral erosion, bladder spasms, and trauma. Further, by reducing movement or detachment of catheter stabilization device prevents the pain and backflow of fluids. These devices are commonly used to regulate medicine to a patient or to extract body fluids. The catheter clipping element comprises a clipping body that ends in open arms for convenient and easy clipping and unclipping a cannula, catheter, cannula terminal adapter.
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Key Trends in Global Catheter Stabilization Device Market
Rising prevalence of cardiovascular and lifestyle diseases boosts the demand of catheter stabilization devices around the world
Global rise in population and chronic diseases such as heart disease, cancer, diabetes and other are the key driving factors for the growth of catheter stabilization device market. The growing number of surgeries and increasing demand of minimally invasive surgeries contributes to the market growth. Increasing need to reduce complication and infections associated to catheter propels the demand of catheter stabilization device market. Furthermore, governments support in way of funding is helping to strengthen healthcare infrastructure of emerging countries such as India, China, South Africa and Japan. This will ultimately contribute to boost the overall market growth in the forecast period. On the other side, availability of alternative products of catheter stabilization in the market is one of the major concerns for the industry growth. However, catheters play a vital role in patient care and increase in the use of catheters in the treatment will help to reduce the risk of infection to the patients that may be minor or life-threatening. This may help to sustain the market growth.
Impact of COVID 19 on Catheter Stabilization Device Market
The sudden outbreak of COVID-19 accounts for low to moderate impact on the growth of overall market. Reduced number of surgical procedures has majorly accounted for the reduced demand of catheter stabilization device during the pandemic period.
Global catheter stabilization device market segmentation by product type
The catheter stabilization devices market is growing due availability of wide range of product portfolio such as arterial, central venous catheter, peripheral, urinary catheter, and chest drainage tube which are considered in this report among others. Arterial catheter stabilization devices account for the major market share and expected to contribute healthy revenue in the overall market.
Hospital’s segment contributes to the largest share of the catheter securement devices market
Based on end-user, global catheter stabilization device market is segmented into hospitals, home care settings and others. The hospitals segment contributes to the largest market share of the catheter stabilization device in 2020. This is mainly due to increasing preference for minimally invasive surgeries in hospitals. Rising share of hospitals in developing countries equally contributing for the overall segment growth.
North America region leads catheter stabilization device market
Global catheter stabilization device market is geographically segmented into North America, Europe, Asia Pacific, and RoW. North America accounts for highest revenue share of the market and projected to keep its dominance over the forecast period. This is attributed to growing number of surgeries and growing adoption of catheter technology & devices for diagnosis & treatment. US is the dominating country for adopting catheter devices in the North America region.
The Asia Pacific catheter stabilization device market is anticipated to witness significant growth owing to rising healthcare expenditure along with increasing disposable income of consumers. In addition, growing government support and funding for the technological innovation and development fuels the growth of the market in this region.
Industry overview of catheter stabilization device market
The global catheter stabilization device market is fragmented owing to presence of leading key players with strong product portfolio. Most leading players operating in the global catheter stabilization device market include C.R. Bard, Inc., B. Braun Melsungen AG, Baxter International Inc., TIDI Products, LLC, 3M Company, Centurion Medical Products, Merit Medical Systems, Inc. and Smiths Medical. The report covers very detailed profiles of these key players which includes recent merger and acquisitions, new product launches and developments.
Market Segmentation
Global Catheter Stabilization Device Market by Product, 2015 – 2027
Global Catheter Stabilization Device Market by End-use, 2015 – 2027
Global Catheter Stabilization Device Market by Region, 2015 – 2027
Global Catheter Stabilization Device Market: Key Players
Our Blog: Target Market Size
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