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Research Reports

Peripherally Inserted Central Catheters Market Size To Reach USD 1.22 Billion By 2027 – Reports and Data

Published by news degree

Posted on August 6, 2021

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Increasing expenditure in the healthcare sector, the rise in the incidence rate of chronic conditions have resulted in boosting the Peripherally Inserted Central Catheters market.

The global peripherally inserted central catheters market is forecast to reach USD 1.22 Billion by 2027, 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 Peripherally Inserted Central Catheters market held a market share of USD 748.4 Million in the year 2018 that is forecasted to grow at a rate of 5.6% during the forecast period.
In context to Product Type, the Power injected Peripherally Inserted Central Catheters 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 participants include R. 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.

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For the purpose of this report, Reports and Data have segmented the global Peripherally Inserted Central Catheters market, according to Product Type, Design Type, Application, End-user, and Region:

Product Type Outlook (Revenue, USD Million; 2016-2027)

Conventional Peripherally Inserted Central Catheters
Power injected Peripherally Inserted Central Catheters

Design Type Outlook (Revenue, USD Million; 2016-2027)

Multiple Lumen
Double Lumen
Single Lumen

Application Outlook (Revenue, USD Million; 2016-2027)

Intravenous Fluids
Chemotherapy
Blood Transfusions
Other drugs

End-user Outlook (Revenue, USD Million; 2016-2027)

Hospitals
Nursing Facility
Ambulatory Surgical Centers
Homecare

Regional Outlook (Revenue, USD Million; 2016-2027)

North America
- U.S
Europe
- UK
- France
Asia Pacific
- China
- India
- Japan
MEA
Latin America
- Brazil

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Key Advantages of the Peripherally Inserted Central Catheters Market Report:

Detailed analysis of changing dynamics of the global Peripherally Inserted Central Catheters market
Valuable insights on key market growth driving trends and monetary competence over the forecast period
SWOT analysis and Porter’s Five Forces analysis for each key market player to offer competitive advantage to readers and investors
Comprehensive assessment of competitive landscape and regional analysis
Assessment of key factors driving and restraining market growth
Analysis of threats, limitations, growth prospects, opportunities, and barriers in the market
Strategic recommendations to key market players and new entrants to assist them in gaining a robust footing in the market

Thank you for reading our report. Customization of this report is available according to the requirement of the clients. For further query or information regarding this report, please get in touch with us and team will ensure your doubts are cleared.

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