Peripherally inserted central catheters are used to gain intravenous access that can be for a prolonged period of time. A peripherally inserted central catheters is commonly recommended for cancer treatments, liquid nutrition, and infection treatments.

Statistics:

The global Peripherally Inserted Central Catheters Market is estimated to account for US$ 1,256.1 Mn in terms of value by the end of 2027.

Global Peripherally Inserted Central Catheters Market: Drivers

Approval and launch of new products is expected to propel growth of the global peripherally inserted central catheters market over the forecast period. For instance, in March 2020, Access Vascular received the U.S. Food and Drug Administration clearance for its second-generation HydroPICC peripherally inserted central catheter.

Global Peripherally Inserted Central Catheters Market: Opportunities

Increasing preterm birth-rate is expected to offer lucrative growth opportunities for players in the global peripherally inserted central catheters market. For instance, According to March of Dimes 2019 report card, the preterm birth rate in the U.S. reached 10.02% in 2018 from 9.63% in 2015.

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Global Peripherally Inserted Central Catheters Market: Restraints


Peripherally inserted central catheters, despite their wide use, can lead to local and systemic complications. One of the most crucial complication is deep vein thrombosis, which can lead to pulmonary embolism. Such scenario is expected to hinder growth of the global peripherally inserted central catheters market.

Key Takeaways:

The global peripherally inserted central catheters market was valued at US$ 782.1 Mn in 2019 and is forecast to reach a value of US$ 1,256.1 Mn by 2027 at a CAGR of 6.2% between 2020 and 2027. Increasing approval and launch of new products is expected to propel growth of the global peripherally inserted central catheters market over the forecast period.

Multiple Lumen segment held dominant position in the global peripherally inserted central catheters market in 2019, accounting for 60.8% share in terms of value, the growth of the segment is attributed to increasing incidence and prevalence of chronic diseases such as cancer in developed and developing economies during the forecasted period.

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Market Trends

R&D in peripherally inserted central catheters is expected to boost growth of the global peripherally inserted central catheters market. For instance, in October 2019, researchers from Hartford Hospital (Hartford, Conn.) and PICC Excellence reported that implementing standardized set of best practices for inserting peripheral IV catheters results in significant clinical and economic benefits, in the Journal of the Association for Vascular Access.

Major players in the global peripherally inserted central catheters market are focused on raising funds to expand their product portfolio. For instance, in September 2019, Access Vascular raised US$ 6 million from new and existing investors for the HyrdoPICC device it developed.

Global Peripherally Inserted Central Catheters Market: Competitive Landscape

Major players operating in the global peripherally inserted central catheters market include, AngioDynamics, Inc., B. Braun Melsungen AG, Becton, Dickinson and Company, Teleflex Incorporated, Argon Medical Devices, Inc., Boston Scientific Corporation, Cook Medical Inc., ICU Medical Inc., Medical Components, Inc., Access Vascular, Medtronic, Inc., and Navilyst Medical, Inc.

Global Peripherally Inserted Central Catheters Market: Key Developments

October 2019: AngioDynamics signed a US$ 66 million deal to acquire Eximo Medical, which includes US$ 46 million upfront plus up to an additional US$ 20 million in technical and sales-based milestones

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