Catheter Stabilization Devices Market is Expected to Reach USD 2.20 Billion by 2030
As per the report published by Kings Research, the global Catheter Stabilization Devices Market was valued at USD 1.25 billion in 2022 and is projected to reach USD 2.20 billion by 2030, growing at a CAGR of 7.32% from 2023 to 2030.
The market for catheter stabilization devices is expected to continue to develop as a result of more people using these tools to treat patients with urinary tract illnesses because they are effective and affordable. Several factors are driving the growth of the catheter stabilization devices market, including the increasing prevalence of chronic diseases such as cardiovascular diseases and urinary tract disorders. The aging population is particularly susceptible to these conditions, and the demand for minimally invasive surgical procedures and medical devices that can be used to treat chronic diseases is increasing. In addition, the increase in healthcare-associated infections increases the need for adequate and effective protection of medical devices such as catheters.
- Based on product, the peripheral securement devices segment is growing at a CAGR of 8.10% over the forecast period
- Based on end-use, the hospitals segment is expected to dominate with a market share of 1.25 billion in 2030
- On the basis of region, North America attained a dominating position with a market share of 41.16% in 2022
Levity Products Incorporated Launched External Catheter Stabilization Devices to Expand their Product Portfolio
February 2020: Levity Products Incorporated launched its newly patented and clinically proven External Catheter Stabilization Devices, a new medical device known as LECS which is expected to revolutionize the catheter stabilization market. LECS devices are designed to avoid many catheter-related problems by properly securing the catheter and positioning the drainage bag.
Availability of Advanced Catheter Stabilization Devices Propels the Market Growth
Advanced catheter stabilization devices prevent unnecessary movement and reduce the risk of catheter-related complications. These devices are typically designed to be easy to use, comfortable for patients, and secure enough to prevent dislodgement. The availability of advanced catheter stabilization devices includes sutureless securement devices, adhesive dressings, and integrated tubing management systems. These devices are usually made of materials that are hypoallergenic, breathable, and gentle on the skin. Advanced catheter stabilization devices are becoming increasingly popular due to the many benefits they offer, such as reducing the risk of accidental dislodgement, improving patient comfort, and maximizing the longevity of a catheter. Moreover, the use of these devices is expected to continue to grow in the coming years due to their effectiveness in preventing catheter-related complications.
Increasing Demand for Minimally Invasive Surgeries Drives the Need for Catheter Stabilization Devices
The increasing demand for minimally invasive surgeries is accelerating the use of catheter stabilization devices. Minimally invasive surgeries require smaller incisions and less traumatic procedures, which often involve the use of catheters to access and treat specific sites within the body. Advanced catheter stabilization devices provide a safe and effective way to secure these catheters in place, reducing the risk of complications. Moreover, the increased adoption of minimally invasive surgeries is driven by several factors such as reduced recovery times, fewer complications, and shorter hospital stays. As a result, healthcare providers are increasingly using catheter stabilization devices to improve patient outcomes and reduce the risk of catheter-related complications, improving patient comfort, and reducing the risk of unplanned removal. Furthermore, the growing demand for minimally invasive surgeries is expected to further drive the growth of the catheter stabilization devices market.
North America is the Dominating Region with a Forecasted Market Value of USD 0.88 Billion by 2030
The regional growth is driven by the widespread use of catheters and catheter fixation devices in various medical departments in hospitals and clinics to treat conditions such as trauma, spinal cord injury, urinary retention, lower body paralysis, and urinary incontinence. According to the American Nurses Association (ANA), more than 560,000 patients acquire CAUTI every year. Hospital-acquired infections are one of the biggest threats to patient safety, and the American Journal of Infection Control estimates that these infections cost about USD 33 billion.
The use of catheters in surgery is a common practice throughout North America, and the demand for minimally invasive surgery further increases the use of catheter stabilizers. These devices provide a safe and effective way to secure catheters during surgery and prevent complications. In addition, advanced catheter stabilization devices are becoming increasingly popular across the region due to the many advantages they offer, such as reducing the risk of accidental dislodgement, improving patient comfort, and maximizing catheter longevity.
Key Players in the Market are Concentrating on Product Launch to Expand their Market Share
The catheter stabilization devices market is fragmented with key players viz., 3M, B. Braun SE, Baxter International Inc, BD, Cardinal Health, Koninklijke Philips N.V, Medline Industries, LP, Merit Medical Systems, Strive Medical, Teleflex Incorporated, and others. Companies are employing a variety of strategic measures, such as acquisitions, mergers, partnerships, product introductions, and collaborations, to expand their business globally and attain a competitive edge.