Centesis Catheters Market - Growth Drivers & Opportunities | Marketsandmarkets

By Author: Snehal S
Total Articles: 396
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Growth in the global centesis catheters market can be attributed to factors such as the rising target patient population (particularly patients suffering from cancer, TB, and cardiovascular diseases), growing preference for image-guided centesis procedures, and the increasing evidence for the efficacy of centesis procedures for target diseases.

The report Centesis Catheters Market is projected to reach USD 633 million by 2025 from USD 426 million in 2019, at a CAGR of 6.8%.

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KEY MARKET DYNAMICS

1.DRIVERS

1.1 Growth in the target patient population
1.2 Growing preference for image-guided centesis procedures
1.3 Growing evidence of the efficacy of centesis procedures for target diseases

2. RESTRAINTS
2.1 Premium product pricing
2.2 Taxation policies and trade barriers

3. OPPORTUNITIES
3.1 Emerging countries

...
... 4. CHALLENGES
4.1 Complexities related to product development and manufacturing
4.2 Complications associated with centesis procedures
4.3 Product failure and recalls

Market Segmentation: -
Based on type, the centesis catheters market is segmented into small-bore and large-bore centesis catheters. The small-bore centesis catheters segment accounted for the largest share of this market in 2018. This can be attributed to the wide availability of small-bore centesis catheters, growing number of target procedures that require small-bore centesis catheters, increasing evidence of the efficacy and safety of small-bore centesis catheters over large-bore centesis catheters, and their higher adoption in diagnostic centesis procedures.

Paracentesis procedures segment accounted for the largest share of the centesis catheters market, by procedure, in 2018
Based on procedure, the centesis catheters market is segmented into paracentesis, thoracentesis, arthrocentesis, amniocentesis, and other procedures. The paracentesis segment accounted for the largest share of this market in 2018. The rising incidence of target conditions such as gastrointestinal malignancies, liver cirrhosis, cystic fibrosis, intestinal tuberculosis, chronic liver failure, formation of cysts in the peritoneal cavity, and serious forms of hepatitis is expected to drive the growth of this market segment in the coming years.

Hospitals were the largest end users of centesis catheters in 2018
Based on end user, the global centesis catheters market has been segmented into hospitals, ambulatory surgical centers, and other end users. The hospitals segment accounted for the largest share of the market in 2018. This is because the majority of centesis procedures are performed in hospitals owing to the risks involved in these procedures and the higher patient preference for hospital-based care for target disease conditions, such as gastrointestinal malignancies, liver cirrhosis, cystic fibrosis, intestinal tuberculosis, chronic liver failure, peritonitis, and pleural effusion.

Regional Analysis:
The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. This can be attributed to the presence of a large patient pool, increasing incidence and prevalence of target diseases, improving healthcare infrastructure in Asian countries, and the favorable government initiatives for improving access to healthcare.

Recent Developments
• In 2019, Galt Medical Corp (US) acquired Arrotek Medical Limited (Ireland) that expanded the former’s minimally invasive devices portfolio.
• In 2019, Merit Medical (US) launched the ReSolve Mini Locking Drainage Catheter with a 42% smaller pigtail design (as compared to the other ReSolve Mini drainage catheters offered by the company).
• In 2017, Teleflex Incorporated (US) acquired Vascular Solutions, Inc. (US).
• In 2017, Cardinal Health (US) acquired the Patient Care, Deep Vein Thrombosis, and Nutrient Insufficiency business lines from Medtronic, plc (Ireland).

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Top Key Players:
The key players operating in the global centesis catheters market are AngioDynamics, Inc. (US), ARGON MEDICAL (US), Avanos Medical Devices (US), Axiom Medical, Inc. (US), B. Braun Melsungen AG (Germany), Becton, Dickinson and Company (US), Blue Neem Medical Devices Pvt. Ltd. (India), Boston Scientific Corporation (US), Canadian Hospital Specialties Ltd. (Canada), Cardinal Health (US), Cook Medical (US), Galt Medical Corp. (US), Guangzhou Leadgem Medical Device Co., Ltd. (China), KM Medical (US), Medical Components, Inc. (US), Medtronic (Ireland), Merit Medical Systems (US), Mermaid Medical A/S (Denmark), MoFlo Medical Technology Co., Ltd. (China), Neuromedex GmbH (Germany), Ningbo Honde Medical Instruments Co., Ltd. (China), PFM Medical, Inc. (US), Polymedicure (India), REDAX (Italy), Rocket Medical plc. (UK), Romsons (India), Smiths Medical (US), Teleflex Incorporated (US), UreSil, LLC (US), and Utah Medical Products, Inc. (US).