Global Central Venous Catheter Market, by Product Type (Peripherally Inserted Central Catheters (PICC), Implantable Ports, Tunneled Central Venous Catheter, and Non-Tunneled Central Venous Catheter), by Design (Single Lumen, Double Lumen, and Multi Lumen), by Age Group (Adults, Pediatric, and Geriatric), by Procedure (Cardiovascular Procedure, Chemotherapy Procedure, and Dialysis Procedure), by End User (Hospitals, Ambulatory Surgical Centre, and Specialty Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, Africa) is estimated to be valued at US$ 2,002.2 million in 2020 and is expected to exhibit a CAGR of 6.2 % during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.

Major companies are focused on strategic mergers and acquisitions in order to strengthen their position in the global central venous catheter market. For instance, in 2018, B.Braun Melsungen AG acquired bloodlines business of NxStage Medical, Inc. This acquisition helped the dialysis business of B. Braun Melsungen.

Moreover, companies are focused on innovation and advancements in central venous catheters to strengthen their share in the global central venous catheter market. For instance, On April 2020, Bluegrass Vascular Technologies, a medical technology company, received a De Novo classification order from the U.S. Food and Drug Administration (FDA) for its Surfacer Inside-Out Access Catheter System. The system is developed to obtain central venous access for catheter insertion into the central venous system for patients with upper body venous occlusions.

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Global Central Venous Catheter Market – Impact of Coronavirus (COVID-19) Pandemic

According to the Coronavirus Disease (COVID-19) Situation Report- 199 by the World Health Organization, around 18,614,177 cases of coronavirus disease (COVID-19) were reported on August 6, 2020 across the globe.

On May 23, 2020 the Centers for Disease Control and Prevention released an updated interim additional guidelines to prevent the infection spread in outpatient hemodialysis facilities. Some important guidelines are facilities should implement non-punitive, and flexible sick leave for ill healthcare professional, instructions about maintaining social distancing of at least 6 feet whenever possible, hand hygiene, respiratory hygiene, and cough etiquette should be provided to patients and ill healthcare personnel (HCP) as well. Hemodialysis facilities which are carrying out the dialysis of more than one patient with suspected or confirmed COVID-19 should provide proper isolation to these patients and the healthcare personnel (HCP) taking care of patients.

Browse 64 Market Data Tables and 44 Figures spread through 261 Pages and in-depth TOC on “Global Endocrine Testing Market, by Product Type (Peripherally Inserted Central Catheters (PICC), Implantable Ports, Tunneled Central Venous Catheter, and Non-Tunneled Central Venous Catheter), by Design (Single Lumen, Double Lumen, and Multi Lumen), by Age Group (Adults, Pediatric, and Geriatric), by Procedure (Cardiovascular Procedure, Chemotherapy Procedure, and Dialysis Procedure), by End User (Hospitals, Ambulatory Surgical Center, and Specialty Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).

The market is expected to witness significant growth during the forecast period, as various companies are focusing on strategic mergers and acquisitions in the global central venous catheter market.

For instance, in 2018, B.Braun Melsungen AG acquired bloodlines and dialysis business of NxStage Medical, Inc. This acquisition is expected to facilitate growth of B.Braun Melsungen’s dialysis business.

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Key Takeaways of the Global Central Venous Catheter Market:

The global central venous catheter market is expected to exhibit a CAGR of 6.2% during the forecast period owing to product approvals and launches and strategic mergers and acquisitions.

Among product type, the peripherally inserted central catheters (PICC)-central venous catheter market segment is expected to hold dominant position in the global central venous catheter market in 2020 owing to approvals of new and advanced products by regulatory authorities.

Among design, the multi lumen-central venous catheter market segment is expected to hold dominant position in the global central venous catheter market growth in 2020 due to availability of products with features such as antimicrobial and antithrombogenic (Arrow PICC), and increasing incidence of diseases requiring use of multiple lumen catheters.

Among age groups, the adult segment is expected to hold dominant position in the global central venous catheter market in 2020 owing to an increasing number of product launches.

Among procedure, the chemotherapy procedure- central venous catheter market size segment is expected to hold dominant position in central venous catheter market growth due to the rising incidence of cancer conditions and patients on chemotherapy requiring multiple medications at times such as antibiotics, nutritional fluids, and even blood infusion.

Among end user, the hospitals segment is expected to hold dominant position in the global central venous catheter market in 2020 owing to increasing hospitalizations for cardiovascular diseases such as heart failure, heart attack etc.

Among regions, North America central venous catheter market is expected to hold dominate position in the global central venous catheter market owing to an increasing number of product launches and approvals associated with central venous catheters by regulatory bodies in the region.

Key players operating in the global central venous catheter market are AngioDynamics Inc., Lepu Medical Technology Co., Ltd, KIMAL PLC, Prodimed Benelux B.V, Terumo Corporation, Medtronic Plc, Teleflex Incorporated, Becton, Dickinson and Company, Amecath, ICU Medical, Inc., Edwards Lifesciences Corporation, Cook Group, Nipro Corporation, Bactiguard, Vygon (UK) Ltd, Guangdong Baihe Medical Technology Co., Ltd, Wujiang Evergreen EX/IM Co., Ltd, and ZOLL Medical Corporation.

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