Global Peripherally Inserted Central Catheter Market Overview
As per MRFR analysis, the Peripherally Inserted Central Catheter Market Size was estimated at 3.12 (USD Billion) in 2022. The Peripherally Inserted Central Catheter Market is expected to grow from 3.24 (USD Billion) in 2023 to 4.5 (USD Billion) by 2032. The Peripherally Inserted Central Catheter Market CAGR (growth rate) is expected to be around 3.72% during the forecast period (2024 - 2032).
Key Peripherally Inserted Central Catheter Market Trends Highlighted
Peripherally Inserted Central Catheter (PICC) market is witnessing significant growth, driven by factors such as rising prevalence of chronic diseases, increasing demand for minimally invasive procedures, and advancements in catheter technology. Additionally, the growing geriatric population and advancements in home healthcare contribute to the market's expansion.
The advancement in catheter technology, including the development of antimicrobial coatings and enhanced insertion techniques, offers numerous opportunities for market players. Furthermore, the rising focus on reducing healthcare-associated infections and the growing adoption of PICCs in outpatient settings are expected to drive market growth.
Recent trends indicate a shift towards the use of ultrasound-guided PICC placements for improved accuracy and safety. Additionally, the integration of telemedicine for remote patient monitoring and catheter management opens new avenues for market expansion.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Peripherally Inserted Central Catheter Market Drivers
Rising Prevalence of Chronic Diseases
There is a growing prevalence of chronic diseases, such as cancer, kidney disease, and diabetes, across the globe. As a result, there is an increased need for long-term vascular access. PICCs are a viable solution for long-term vascular access because they can be inserted into a peripheral vein and advanced into a central vein.
This provides a safe and effective method for ensuring appropriate and reliable access to administering medications, fluids, and blood products. Such measures are expected to increase the utilization of PICCs in the next five years.
Technological Advancements in PICC Design
Technological advancements have led to significant improvements in the design and functionality of PICCs. Newer PICCs are smaller, more flexible, and more durable, making them less likely to cause discomfort or complications.
Additionally, the development of antimicrobial PICCs has reduced the risk of infection, which is a major concern with long-term vascular access devices. These technological advancements are expected to further drive the adoption of PICCs in the Peripherally Inserted Central Catheter Market.
Increasing Awareness of PICC Benefits
As more and more healthcare providers and patients are becoming cognizant of the benefits of PICCs, such as the ease of their placement, their low rates of complications, and their cost-effectiveness, their demand is expected to rise, particularly in outpatient settings.
Hence, educational programs designed to familiarize the target audience with the advantages of PICCs are anticipated to foster the expansion of the market.
Peripherally Inserted Central Catheter Market Segment Insights:
Peripherally Inserted Central Catheter Market Product Type Insights
Within this market, the Product Type segmentation is crucial as it showcases varying types of peripherally inserted central catheters. Dominating this segment, the Single Lumen PICCs recorded a valuation of 1.12 USD Billion in 2023, projected to reach 1.57 USD Billion by 2032, indicating its majority holding in the market due to its widespread application and simplicity in clinical settings.
Following closely, the Double Lumen PICCs were valued at 1.02 USD Billion in 2023, expected to increase to 1.39 USD Billion by 2032. This type allows for simultaneous administration of treatments, contributing to its growing demand in hospitals.
The Triple Lumen PICCs also held significant relevance, valued at 0.86 USD Billion in 2023 and anticipated to rise to 1.14 USD Billion by 2032. The triple-lumen access facilitates comprehensive treatment options simultaneously, which is essential for patients requiring complex therapies.
On the other hand, the Multi-lumen PICCs, albeit valued at a comparatively lower 0.24 USD Billion in 2023, with expectations to grow to 0.43 USD Billion by 2032, suggested a niche yet evolving segment that serves specialized needs.
The growth of each of these categories within the Peripherally Inserted Central Catheter Market was driven by advancements in healthcare technology and increased healthcare expenditures. However, challenges such as catheter-related infections and complications could hinder growth.
Nevertheless, the rising demand for effective therapeutic interventions and the expansion of healthcare infrastructure present abundant opportunities for expansion within this market segment. Overall, the Product Type segmentation is fundamental to understanding the specific contributions of each type to the overall growth of the Peripherally Inserted Central Catheter Market revenue.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Peripherally Inserted Central Catheter Market Material Insights
The sector includes various materials such as Polyurethane, Silicone, and Polyethylene Terephthalate (PET), each of which plays a crucial role in the production of catheters. Polyurethane is often preferred for its durability and flexibility, while Silicone is known for its biocompatibility and reduced risk of thrombosis, making it highly sought after in clinical settings.
Additionally, PET, appreciated for its mechanical strength and resistance to moisture, also holds a significant place in the market. The ongoing advancements in these materials underline their importance as they contribute to ensuring safer and more efficient medical procedures.
Market growth is propelled by increasing healthcare needs and a rising geriatric population despite challenges such as stringent regulatory frameworks.
Analyzing the Peripherally Inserted Central Catheter Market revenue and segmentation further highlights the dynamic landscape, indicating that these materials will continue to dominate the industry due to their distinct benefits and evolving applications.
Peripherally Inserted Central Catheter Market Application Insights
The market has been effectively segmented into various areas, notably Long-Term Infusion Therapy and Chemotherapy Administration, both of which are critical for patients requiring extended medical care.
Long-Term Infusion Therapy is particularly important, as it enables consistent delivery of medications for chronic conditions, enhancing patient quality of life. In parallel, the Chemotherapy Administration provides essential support for cancer treatments, where timely and accurate drug delivery is vital.
Furthermore, Hemodialysis serves as a key application in renal failure management, allowing for efficient blood filtration, while Parenteral Nutrition addresses the nutritional needs of patients who cannot ingest food normally.
The Peripherally Inserted Central Catheter Market data reveals that these applications not only dominate the market but also represent various opportunities for growth, driven by increasing patient populations and advancements in catheter technology.
The market faces challenges such as infection risks and the need for skilled healthcare professionals, making it crucial for ongoing innovation and education in the industry. As market growth continues, these applications will play a central role in meeting the evolving healthcare demands.
Peripherally Inserted Central Catheter Market End User Insights
Among various End Users, hospitals are notable for their extensive adoption of peripherally inserted central catheters (PICC), driven by the increasing number of patients requiring long-term intravenous therapies. Ambulatory surgical centers have also gained importance due to the rising trend of outpatient surgeries and the need for efficient access to the vascular system.
In addition, home healthcare settings have emerged as a significant segment as they cater to the growing demand for at-home patient care, enabling patients to receive treatments comfortably in their own surroundings.
This diverse segmentation highlights the adaptability of the Peripherally Inserted Central Catheter Market, with opportunities stemming from both technological advancements and shifting patient care preferences, contributing positively to the overall market growth and revenue generation.
As healthcare infrastructure evolves, the demand from these settings is likely to shape the future landscape of the market significantly.
Peripherally Inserted Central Catheter Market Regional Insights
The Peripherally Inserted Central Catheter Market is experiencing diverse growth across its regional segments, showcasing unique trends and dynamics.
In 2023, North America held a majority share, valued at 1.45 USD Billion, and is expected to rise to 1.95 USD Billion by 2032, driven by advanced healthcare infrastructure and increasing adoption of catheters in clinical settings.
Europe followed with a value of 1.0 USD Billion, set to reach 1.35 USD Billion, reflecting a significant demand fueled by aging populations and chronic disease prevalence.
South America, valued at 0.24 USD Billion in 2023 and projected to grow to 0.32 USD Billion, indicated emerging opportunities despite comparatively lower adoption rates. The Asia Pacific region showed a growing market at 0.45 USD Billion, anticipated to reach 0.62 USD Billion, largely influenced by rapid economic development and increasing healthcare investments.
Meanwhile, the Middle East and Africa, valued at 0.1 USD Billion and expected to grow to 0.16 USD Billion, reflected the gradual adoption of catheter technologies. These regional insights highlight the Peripherally Inserted Central Catheter Market segmentation, indicating varying growth potential and market dynamics across different geographical areas.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Peripherally Inserted Central Catheter Market Key Players And Competitive Insights:
Major companies in the Peripherally Inserted Central Catheter Market are focused on introducing new products and expanding their global presence in the Peripherally Inserted Central Catheter Market. Peripherally Inserted Central Catheter Market Leading manufacturers are focusing on strategic partnerships to increase their geographic presence and market shares.
The Peripherally Inserted Central Catheter Market Competitive Landscape includes both global multinationals and local companies in the Peripherally Inserted Central Catheter Market. Companies involved in Peripherally Inserted Central Catheter Market development invest heavily in research and development activities to introduce technologically advanced products.
Bard Peripheral Vascular, Inc. is one of the Peripherally Inserted Central Catheter Market's major companies in the PICC market and focuses on offering innovative vascular access solutions. The company offers a broad range of PICCs, including Groshong PICC, which has highly driven market growth.
Groshong PICC is a custom-made Peripherally Inserted Central Catheter Market, which focuses on maximizing patient outcomes such as fewer complications and optimal catheter placement. The company's focus on innovation and customer satisfaction has been beneficial to focus on the Peripherally Inserted Central Catheter Market.
The company's focus on product expansion and innovation has granted it a significant market share in the Peripherally Inserted Central Catheter Market.
Medtronic plc is another company in the Peripherally Inserted Central Catheter Market that has acquired a large market share. Medtronic plc is a global medical technology company that produces PICCs such as Melody PICC.
Melody PICC has been popular in the market as it is an over-the-wire application requiring the use of a micro-puncture, non-Groshong PICC. In addition, the product is made of polyurethane, which is biocompatible. The introduction of the products, combined with the company's wide distribution network and strong research activities, has made the company predominant.
Key Companies in the Peripherally Inserted Central Catheter Market Include:
- Boston Scientific Corporation
- Teleflex Incorporated
- Merit Medical Systems, Inc
- Edwards Lifesciences
- Braun Melsungen AG
- Cardinal Health
- BD
- Terumo Medical Corporation
- Vygon
- Smiths Medical
- Medtronic
- Cook Medical
- AngioDynamics
- ICU Medical
- Fresenius Kabi
Peripherally Inserted Central Catheter Market Developments
The increasing prevalence of chronic diseases, rising demand for minimally invasive procedures, and growing adoption of PICCs in home healthcare settings are driving the market growth. The introduction of advanced PICC technologies, such as antimicrobial coatings and ultrasound-guided insertions, is further contributing to market expansion.
Key industry players are focusing on strategic partnerships, product innovations, and geographic expansions to gain a competitive edge. Recent news developments include the launch of new PICC products with enhanced features and the acquisition of smaller companies by larger market players to strengthen their product portfolios.
Peripherally Inserted Central Catheter Market Segmentation Insights
Peripherally Inserted Central Catheter Market Product Type Outlook
- Single Lumen PICCs
- Double Lumen PICCs
- Triple Lumen PICCs
- Multi-lumen PICCs
Peripherally Inserted Central Catheter Market Material Outlook
- Polyurethane
- Silicone
- Polyethylene Terephthalate (PET)
Peripherally Inserted Central Catheter Market Application Outlook
- Long-Term Infusion Therapy
- Chemotherapy Administration
- Hemodialysis
- Parenteral Nutrition
Peripherally Inserted Central Catheter Market End User Outlook
- Hospitals
- Ambulatory Surgical Centers
- Home Healthcare Settings
Peripherally Inserted Central Catheter Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africaa
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Report Attribute/Metric
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Details
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Market Size 2022
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3.12(USD Billion)
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Market Size 2023
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3.24(USD Billion)
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Market Size 2032
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4.5(USD Billion)
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Compound Annual Growth Rate (CAGR)
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3.72% (2024 - 2032)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Base Year
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2023
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Market Forecast Period
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2024 - 2032
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Historical Data
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2019 - 2023
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Market Forecast Units
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USD Billion
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Key Companies Profiled
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Boston Scientific Corporation, Teleflex Incorporated, Merit Medical Systems, Inc., Edwards Lifesciences, B. Braun Melsungen AG, Cardinal Health, BD, Terumo Medical Corporation, Vygon, Smiths Medical, Medtronic, Cook Medical, AngioDynamics, ICU Medical, Fresenius Kabi
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Segments Covered
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Product Type, Material, Application, End User, Regional
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Key Market Opportunities
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Growing demand for PICCs in critical care home healthcare and oncology Technological advancements in PICC design and materials Increasing prevalence of chronic diseases and associated infections Favorable reimbursement policies for PICCs in developed countries Expansion of PICC use in developing regions
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Key Market Dynamics
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Increasing demand for minimally invasive procedures Technological advancements Growing geriatric population Rising prevalence of chronic diseases Expanding applications in emergency and critical care
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Countries Covered
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North America, Europe, APAC, South America, MEA
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Frequently Asked Questions (FAQ) :
The projected market size for the Peripherally Inserted Central Catheter Market in 2032 is expected to reach 4.5 USD Billion.
The expected CAGR for the Peripherally Inserted Central Catheter Market from 2024 to 2032 is 3.72%.
By 2032, North America is expected to dominate the Peripherally Inserted Central Catheter Market with a projected value of 1.95 USD Billion.
The market size for Double Lumen PICCs in 2032 is projected to reach 1.39 USD Billion.
Major players in the Peripherally Inserted Central Catheter Market include Boston Scientific Corporation, Teleflex Incorporated, and Medtronic among others.
The projected market value for Single Lumen PICCs in 2032 is expected to be 1.57 USD Billion.
The Asia Pacific region is expected to see market growth prospects with a projected value of 0.62 USD Billion by 2032.
The projected market size for Triple Lumen PICCs in 2032 is expected to reach 1.14 USD Billion.
The expected market value for Multi-lumen PICCs in 2032 is 0.43 USD Billion.
Challenges faced by the Peripherally Inserted Central Catheter Market include regulatory hurdles and competition among key players.
