Catheter Securement Device Market Analysis

Catheter Securement Device Market Overview

The Catheter Securement Device Market is anticipated to reach USD 1.3 billion by 2032 at 9.9% CAGR during the forecast period 2023-2032. A catheter is a medical device made up of a thin, flexible tube inserted into the body to collect and remove urine, blood, and gases from the human body. A catheter securement device is designed to prevent catheter migration and hold the catheter in place securely. It is used in minimally invasive surgeries, monitoring, and cleaning of the insertion site. In addition, these devices are useful for both children as well as adults who need catheterization. These devices improve patient comfort and prevent the complications caused due to catheter movement during surgeries or medical procedures.

The growing prevalence of chronic diseases such as cardiovascular diseases, urinary diseases, diabetes, and others are key factors contributing to the market growth. Furthermore, the rise in the number of surgeries that require these devices for post-operative care, and the increase in healthcare expenditure, are some of the other key factors expected to offer lucrative opportunities for the market.

COVID-19 Analysis

One of the most crucial procedures for handling severe COVID-19 patients is intubation. It aids in the delivery of drugs while also assisting them in breathing. As a result of the rising number of COVID-19 patients across the world is going to result in a rise indemand forventilators, intubation, and ventilation securement devices.

In terms of the supply chain, the lockdown measures have impacted the global supply chain of import and export, with prices and raw material supply becoming a problem for producers. As a result of the COVID-19 pandemic, many companies are now adopting modern technologies, such as automation and digital tools, to improve supply chain management. For instance, in June 2020,BackboneAI (US) Launched "Accelerate."This new product launch willautomate supply chain data.

Market Dynamics

Drivers

• Increase in the number of surgeries

The catheter securement device market is currently being fueled by an increase in all types of treatments and procedures associated with cardiovascular, gastric, urological, respiratory, chemotherapy, and others. Catheter securement devices are used during or after the surgeries to give intravenous fluids, blood transfusions, and medicines to patients towithdraw the urine and more. Furthermore,the rising geriatric population andincreasing incidence of accident-relatedcases is fueling the growth of the market. According to the WHO, approximately 1.3 million people die everyyear due to road traffic crashes, and almost 50 million people suffer non-fatal injuries, with many suffering a disability due to their injury. Thus, the increasing incidence of accident-related injuries is fueling the growth of this segment.

• Booimng prevalence of chronicdiseases across the globe


• Rise in technological advancement 


• Growing demand for catheter securement devices in minimally invasive surgeries


• Increase in hospitalizations & healthcare expenditures across the globe

Market Restraints

• Availability of alternative products

Dressing tapes are a low-cost alternative to catheter securement devices. Historically, a surgical suture was the only secure technique to retain Vascular Access Devices (VADs) in place. Furthermore, the unavailability of reimbursement policiesin developing countries may hampermarket growth.

Market Opportunities

• Growth potential in emerging economies

Emerging markets like Brazil, India, China, and South Africa offer considerable prospects for catheter securement device manufacturers. The growing geriatric population and large patient populationin these countriesare driving the need for enhanced healthcare services. Moreover, the growing number of minimally invasive procedures performed in emerging economies creates huge opportunities for the market players of the catheter securement device market in the region.

• Value Chain Analysis

The global catheter securement device market is growing steadily and is expected to continue growing at the same rate in the near future. This is due to the increase in the number of surgeries and the growing prevalence of chronic diseases such as cancer, urinary diseases, cardiovascular diseases, diabetes, and others. As a result,the catheter securement device market is projected to gain more importance. Moreover, the value chain analysis for the global catheter securement device market comprises four major components: the R&D and designing, manufacturing of the products, distribution, and marketing & sales.

Segment Overview

By Product Type

• Arterial: An arterial catheter is a thin, hollow tube placed into a blood vessel in the wrist, groin, or other location, and arterial securement deviceshold this catheter in place securely. Moreover, an arterial catheter is extensively used in ICUsto treatblood pressureand severe lung problems. Thus, the extensive use of an arterial catheter in ICUs increases the market growth of the segment.


• Central Venous: A central venous catheter,isa tube that doctors insert into a large vein in the neck, chest, groin, or armto provide fluids and blood and do medical tests quickly. In addition, it is also used to give medicationsfor the treatment of pain, infection, andother medical conditions such as cardiovascular diseases and cancer to provide fluids for nutrition. Moreover, the increasing prevalence of cancer and cardiovascular diseases aidsthe growth of thecentral venous catheter securement devices segment. The central venous catheter securement devices segment is further sub-segmented intoperipherally inserted central catheter(PICC) securement devices, subclavian securement devices, midlines securement devices, femoral securement devices, portal securement devices, and jugular securement devices.


• Peripheral: The peripheral securement devices segmentheld the majority of shares in 2020 due tothe wide use of peripheral securement devices in many surgeries for blood transfusions,administration of intravenous fluids and other medications is common in all surgeries.The peripheral securement devices segmentis further sub-segmented intofoley catheter securement devices, nasogastric tubes securement devices,endotracheal tube securement devices, ventriculoperitoneal securement devices, and continuous nerve block catheter securement devices.


• Chest Drainage Tube: The chest drainage tube securement devices are used in pneumothorax, haemothorax, chylothorax, pleural effusions after post-operative surgeries in cardiovascular diseases and thoracotomy.


• Abdominal Drainage Tubes: Theincrease in the number of cases of gastrointestinal and genitourinary diseases results in high demand for abdominal drainage tubes securement devices. This segmentis further sub-segmented into percutaneous endoscopic gastrostomy securement devices, jejunal catheter securement devices, and umbilical catheter securement devices.


• Epidural: The epidural securement device is used to fix the epidural catheterin position and prevent migration. Epidural catheters are commonly used inthe management of surgical, obstetric, and chronic pain.Thus, the rising prevalence of the disease with pain increases the segment growth.


• All-Site Securement Devices: All-site securement devicesinclude intermittent catheter securement devices, catheter leg straps, and external catheter straps.

By Application

• Cardiovascular: Rise in cardiovascular diseases across the globe is driving thecatheter securement device market. According to the data published by the Centers for Disease Control and Prevention (CDC) in the US, more than 750,000 hospitalizations occur each year because of atrial fibrillation. Thus, the cardiovascularsegment held the largest share in the application segment in 2020.


• Radiology: Catheter securement devices are used for radiology procedures such as angioplasty & stent insertion, biliary drainage, varicose vein ablation, and carotid stenting. Furthermore, interventional radiologists widely use catheters to perform a broad range of surgical treatments such as treating tumors, organ biopsies, or placing stents. This is attributed to the catheter securement device market growth of this segment. 


• General Surgery: General surgery procedures include a wide range of common surgical operations such as cholecystectomy, appendectomy, surgeries of the stomach, intestinal issues, etc. According to theNational Institutesof Health(NIH) data, surgeons perform approximately 64 million surgical procedures each year in the US. Hence, the rising number of general surgery procedures is driving the market growth.


• Urological: Catheter securement devices are used for urological applications such as urinary incontinence, urinary retention, and prostate surgery. Furthermore, the use of catheter securement devices has resulted in a 45% reduction in the rate of Symptomatic Urinary Tract Infection (UTI). Moreover, patients with diabetes are more likely to suffer from urological diseases.According to theInternational Diabetes Federation, the number of people with diabetes worldwide has estimated to be 642 million of the population aged 20 to 79 years by 2040. Hence, the rise in the number of diabetes patients supportsthe growth of this segment.


• Respiratory: Catheter securement devices are used for respiratory procedures such asdiagnostics and surgical interventions. It includes bronchoscopy, chest tube procedure, and exhaled nitric oxide test. It is also usedto observe respiratory rate and respiratory function monitoring. 


• Gastric and Oropharyngeal: Catheter securement devices are used for the treatment of bowel obstruction, dysphagia, administration of medicine to premature babies or infants, and for performing oropharyngeal suctioning.

By End User

• Hospitals & Clinics: The advancements in the hospital infrastructure across the globe are driving the catheter securement devices The availability of specialist doctors in hospitals& clinics, the rising number of surgical procedures performed in hospitals, and the rapidly growing aging population are also positively impacted thecatheter securement device market. Hence, the hospitals & clinics segment accounted for the largest share of the catheter securement devicemarket in 2020.


• Home Healthcare: The home healthcare segment is growing tremendously due to the ease of use for the patient and external factors such as the covid-19 pandemic, making it difficult for patients to visit hospitals & clinics. Moreover, home healthcare catheterization not only eliminates travel hassles, expensive hospital stays but also saves the energy and time of the patient. Patients use Foley catheterson their own for the home setting.


• Diagnostic Centers: Cardiac catheterization is a procedure used to diagnose and treat certain cardiovascular conditionssuch as coronary angioplasty and coronary stenting. A riseincardiological disorders is expected to contribute to the market growth of this segment during the study period.As per the WHO, in 2019, cardiovascular diseases resulted in nearly 17.9 million deaths worldwide. Out of these, 15.2 million deaths were due to stroke and heart attack.

Regional Analysis

• North America

The increasing prevalence of lifestyle diseases and the high number of surgeriesin the regionare driving the North American catheter securement device market.

North America held the largest catheter securement device market share in 2020. The market growth is attributed to the factors such asthe increasing prevalenceof cardiovascular conditions, renal insufficiency,& cancersin the region. Furthermore, the high adoption ofadvanced technologies in terms of surgical procedures & hospital management are the drivers expected to increase the market growth in this region.

• Europe

The rising geriatric population and increasing investment in the R&D sectorin the region are driving the Europe catheter securement device market.

The European catheter securement device market is driven by the rising geriatric population leading to an increasing patient population, increasing investment in the R&D sector, and new product launches by key players arealso boosting the market growth. For instance, in October 2019, Catheterix launched a foley catheter securement devicein Europe. This product launch will prevent catheter dislodgement and actively protects the bladder and urethra from urine catheter extraction damage. Hence, new product launch by key players in the region fuels the growth of the market.

• Asia-Pacific

The increasingdem and for various surgeries andlarge patient pool in the regionisfueling the Asia-Pacific catheter securement device market.

The Asia-Pacific catheter securement device market is projected to be the fastest-growing regional market. The rising number of the patient population, improving healthcare infrastructure & healthcare facilities, and growing demand for various surgeries such as congenital heart defects, coronary angioplasty, and heart bypass surgeryare the major drivers for market growth. Moreover, rising healthcare expenditure in the region is driving the growth of the catheter securement device market in Asia-Pacific.

• Rest of the World:

The rapidly improving healthcare infrastructure and advancements in surgical procedures in the region is boosting the Rest of the World catheter securement device market

Rising per capita expenditure of the population in the healthcare sector, rapidly improving healthcare infrastructure, and advancements in surgical procedures are major factors contributing to the growth of the catheter securement device market in this region.

Competitive Landscape

Several global and localindustry players are contributing to the market growth. One of the key players in the catheter securement device market is 3M (US). It operates through five business segments: safety & industrial, transportation & electronics, health care, consumer, and corporate. Its health care segment distributesnon-adhesive securement devices, multi-purpose securement devices, flexible securement devices, and high-strength securement devices.

The key players are pursuing a variety of business strategies to increase their market share. The companies are launching innovative catheter securement devices to gain a competitive advantage. In addition, mergers & acquisitions, joint ventures, and geographical expansions are key strategies adopted by market players to increase their customer base.

List of Key Companies Covered in this Report:

• 3M Company (US)


• Braun Melsungen AG (Germany)


• Baxter International, Inc. (US)


• R. Bard, Inc. (US)


• Centurion Medical Products (US)


• ConvaTec Group plc (UK)


• Merit Medical Systems, Inc. (US)


• Smiths Medical (US)


• TIDI Products, LLC (US)


• C. Johnson Company, Inc. (US)


• DeRoyal Industries, Inc. (US)


• Cardinal Health (US)


• BioDerm Inc. (US)


• Starboard Medical, Inc. (US)


• Pepper Medical (US)

Recent Developments

• In May 2019, Dale Medical Products, Inc. (US) introduced the Hold-n-Place catheter securement device, which is a soft, comfortable, and flexible design with no hard plastic parts. It provides complete antimicrobial protection.


• In October 2018, Interrad Medical, Inc.entered an agreement with Vygon SA (France) to distribute the SecurAcath Subcutaneous Catheter Securement Device in France. The Secur Acathsubcutaneous catheter securement device helps decrease catheter replacement costs, reduce catheter-related infections, and lower the total cost of patient care. This agreement will increasethe regional reach of InterradMedical's product portfolio in France.

Report Overview

The study covers the existing short-term and long-term market effects, as well as helping decision-makers to draught short-term and long-term plans for businesses by region. The report covers major regions in North America, Europe, Asia-Pacific, and the Rest of the World. The report analyzes market drivers, restraints, opportunities, challenges, Porter's five forces, value chain, and impact of COVID-19 on the market.

Scope of the Report & Segmentation

By Product Type

• Arterial


• Central Venous
  
  
  
  • Peripherally Inserted Central Catheter (PICC)
  
  
  • Subclavian
  
  
  • Midlines
  
  
  • Femoral
  
  
  • Portal
  
  
  • Jugular
  
  
  
  


• Peripheral
  
  
  
  • Foley
  
  
  • Nasogastric Tube
  
  
  • Endotracheal Tube
  
  
  • Ventriculoperitoneal
  
  
  • Continuous Nerve Block
  
  
  
  


• Chest Drainage Tube


• Abdominal Drainage Tubes
  
  
  
  • Percutaneous Endoscopic Gastrostomy
  
  
  • Jejunal
  
  
  • Umbilical
  
  
  
  


• Epidural


• All-Site Securement Devices

By Application

• Cardiovascular


• Radiology


• General Surgery


• Urological


• Respiratory


• Gastric and Oropharyngeal

By  End User

• Hospitals & Clinics


• Home Healthcare


• Diagnostic Centers