Growing prevalence of chronic disease is projected to accelerate the market growth of the peripherally inserted central catheters

 

Peripherally inserted, or PICC as it is also known, catheters are usually used for long-lasting, one-time access to a specific body part. The catheter can be a very valuable tool in medical care especially for those patients who have had their circulatory systems compromised by surgery or an accident. The use of a catheter introduced via a vein makes this procedure much more comfortable for the patient because the catheter is placed in an area that is out of the way and hidden from view. Patients who undergo short-term access to a specific body part via the use of a PICC are far less likely to develop complications than those who use typical long-acting peripheral venous access devices. These devices can cause several complications if not used properly because they are made of thin, hollow needles. This creates an entry point for bacteria that can lead to infection and also cause nausea and diarrhea.

Increasing expenditure on the healthcare industry coupled with the rise in the prevalence of chronic disease is projected to drive market growth. The growing geriatric population is increasing prevalence of the various chronic disease is again fueling the market growth of the peripherally inserted central catheters. According to the World Health Organization, by 2050, the world's population aged 60 years and older is expected to total 2 billion, up from 900 million in 2015. Also, increasing advancement in the catheters device is again anticipated to foster the market growth of the peripherally inserted central catheters over the forecast period.

North America is expected to gain significant growth over the forecast period and this is attributed to increasing healthcare expenditure by the regional government coupled with the continuous launch of the new and advanced product. For instance, in March 2020, Access Vascular Inc. received FDA clearance for the second generation of its HydroPICC peripherally inserted central catheter (PICC), which has demonstrated a thrombus accumulation rate 30 times less than traditional PICCs1 and which may provide the potential to reduce catheter occlusions.

Key Developments:

1.      In July 2018, 3M Korea announced that it has launched a new centralized catheter anchoring system that reduces the risk of bloodstream infection, called the “PICC/CVC securement device+CHG Dressing” package system.

2.      In December 2017, B. Braun Medical Inc. recently introduced the Introcan Safety® Deep Access IV Catheters to its growing portfolio of products that help improve the success of peripheral intravenous PIV access.