Global Catheter Stabilization Devices Market Size, Share, Forecast Report, 2020-2027

The global catheter stabilization device market is growing at a CAGR of 6.2% during the forecast period. Increasing the incidence of urinary disorder in the aging population is anticipated to drive the global market. Catheter stabilization device is designed to secure a catheter in the right position on the skin. It is used in adults and children during the catheterization procedure. It is a long and flexible tube that is inserted in a vein through the skin. The device has high demand as they provide stable securement for a catheter. The market is growing rapidly owing to the implementation of government guidelines of catheter securement.

The factors that are projecting the catheter stabilization device market include a high patient pool in emerging countries such as China and India that require better healthcare facilities, investment through private and public players in R&D on catheter stabilization devices for the elimination of catheter infection and minimize the risk of catheter-related complications. However, lack of awareness regarding the benefits of catheter securement during the catheter procedure, and the lengthy process of regulatory approval are the factors that are hampering the catheter stabilization devices industry. Collaboration and partnership for the development of these devices are projected to drive the market during the forecast period.

Segmental Outlook

The catheter stabilization device market is segmented on the basis of product, application, and end-user. Based on product type, the market is segmented into arterial securement devices, central venous catheter securement devices, chest drainage tube securement devices, peripheral securement devices, urinary catheter securement devices, and other securement devices. The CVC securement devices market has significant potential attributed to the increase in the adoption of CVC stabilization due to it is a cost-effective option as compared to other devices. It is highly utilized in academic institutes for practical teaching for central venous catheters and initiatives taken by a private and public organization which aimed at spreading awareness regarding healthcare. Based on the application, the market is segmented into cardiology, urology, neurology, pulmonology, gastroenterology, and other applications. The cardiology segment is projected to have the highest market share due to various increasing prevalence of cardiovascular diseases across the globe.

Hospitals and Clinics Segment Held the Highest Market

Based on end-users, the market is segmented in hospitals and clinics, home care settings, and specialty centers. The hospital segment holds the largest share due to increasing number of surgeries performed in hospitals and catheter is widely utilized in the hospitals for different kinds of treatments. CAUTI (Catheter-Associated Urinary Tract Infections) is the commonly reported hospital-acquired for infections and prevalence of infections and their usage is increasing in hospitalized patients is boosting the hospital segment.

Regional Outlook

The global catheter stabilization device market is further segmented based on geography including North America, Europe, Asia-Pacific and Rest of the World. North America is a significant market share in term of revenue due to increasing number of surgeries that results in rising in demand for stabilization devices, increasing adoption of catheterization technique in diagnosis, treatment, and examination and rising usage of intravascular catheters is boosting the growth of catheter stabilization devices in the region and the US is the largest market share in the market due to improving healthcare facilities and rising awareness among public and professional. The intravascular catheter is an important part of patient care in healthcare settings and hospitals. As per the Joint Commission, 3 million CVC (Central Venous Catheter) is utilized in the US annually.

The market in Asia-Pacific is expected to be the fastest-growing region mainly due to increasing target populations, large patient pool, and their large unmet needs, an increasing number of procedure performed, growing awareness among people and improving healthcare facilities are projected for the growth of the catheter stabilization devices market in this region. The key players of the market include Baxter International, Inc., Cardinal Health, Inc. 3M Company, C. R. Bard, Inc., B. Braun Melsungen AG, Merit Medical Systems, Inc, Smiths Group plc, TIDI Products, LLC, and Becton, Dickinson & Co.