The global PICC Catheters Market is forecast to reach USD 1,278.3 Million by 2028, 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 PICC Catheters market held a market share of USD 748.4 Million in the year 2018 that is forecasted to grow at a rate of 5.30% during the forecast period.
- In context to Product Type, the Power injected PICC 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.
Competitive Landscape:
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product service portfolio. The PICC Catheters market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in RD, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.
Leading companies operating in the market are:
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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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
PICC Catheters Market Segmentation:
Product Type Outlook (Revenue, USD Million; 2018-2028)
- Conventional PICC Catheters
- Power injected PICC Catheters
Design Type Outlook (Revenue, USD Million; 2018-2028)
- Multiple Lumen
- Double Lumen
- Single Lumen
Application Outlook (Revenue, USD Million; 2018-2028)
- Intravenous Fluids
- Chemotherapy
- Blood Transfusions
- Other drugs
End-user Outlook (Revenue, USD Million; 2018-2028)
- Hospitals
- Nursing Facility
- Ambulatory Surgical Centers
- Homecare
Geographic Segment Covered in the Report:
The PICC Catheters report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
• North America (the USA and Canada)
• Europe (UK, Germany, France, and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• the Middle East and Africa (GCC and the rest of the Middle East and Africa)
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Key market aspects are illuminated in the report:
- Executive Summary: It covers a summary of the most vital studies, the Global PICC Catheters market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.
- Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global PICC Catheters market, the years measured, and the study points.
- Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features.
- Manufacture by Region: This Global PICC Catheters report offers data on imports and exports, sales, production and key companies in all studied regional markets.
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