Global catheter stabilization device market is expected to grow substantially during the forecast period owing to growth in demand for minimally invasive procedures owing to the various benefits associated with these such as faster recovery and less severe effect on the surrounding areas of injury. Increase in geriatric population base globally is expected to be a major driver for the market growth. Furthermore, high prevalence of chronic and lifestyle associated disorders like chronic renal failure, few types of cancer and cardiovascular disorders which lead to high number of surgeries are expected to spur the demand for catheter, and hence will boost the catheter stabilization device market.
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The catheter stabilization device market is divided into product, end-use and application. On the basis of product the market is categorized into chest drainage tube, central venous catheter, epidural stabilization devices, abdominal drainage tube, peripheral stabilization devices, all-site devices and arterial stabilization devices. As of 2014, arterial stabilization devices held significant share due to large number of surgeries performed were associated to arterial invasions in case of cardiovascular disorders and cancer therapies. Based on application market is segmented into urological procedures, respiratory procedures, gastric surgery, oropharyngeal procedures radiology, and cardiovascular procedures. Cardiovascular held largest share in 2014 as a result of high prevalence of cardiac disorders. Market based on end-use is segmented into diagnostic centers, home healthcare services, emergency clinics and hospitals. Hospital held largest share owing to most number of surgeries performed in hospital settings.
Regionally, North America dominated the market in 2014 due to factors like well structured reimbursement plans, and high prevalence of lifestyle associated diseases that have induced large number of surgeries. Asia Pacific is expected to witness lucrative growth over the forecast period as a result of factors such as increased expenditure on healthcare and high unmet needs of the population.
The major players operating in global catheter stabilization devices market includes. C.R.Bard, 3M Company, Baxter international, Medtronic Plc, Smith’s group, M.C.Jhonson Company, Conva, B.Braun and centurion. The companies are indulging in strategic alliances, co-development agreements to launch new products, in order to maintain their position in the market. Another important trend is relocation of manufacturing facilities in developing regions like Asia pacific to meet the rising demand of advanced healthcare technologies in these regions.
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