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Global Catheter Stabilization Devices Market 2019-2023 | Growing Aging Population to Boost Demand | Technavio

November 29, 2018

LONDON--(BUSINESS WIRE)--Nov 29, 2018-- analysts forecast the global catheter stabilization devices market to grow at a CAGR of over 7 % during the forecast period, according to their latest market research report. The growth momentum of the market is expected to accelerate in the year-over-year growth.

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Technavio analysts forecast the global catheter stabilization devices market to grow at a CAGR of over 7% by 2023. (Graphic: Business Wire)

Growing emphasis on reducing catheter-related infections is one of the major trends being witnessed in the . Catheter securement in catheter stabilization devices is generally performed by sutures and tapes for reducing catheter-related infections, which are conventional methods followed in healthcare centers. Though sutures are considered a long-lasting method to secure catheter placement, they can cause various complications such as suture wound oozing and catheter-related infections. Thus, the use of sutures in catheter stabilization devices for securing catheters and reducing catheter-related infections is declining. The awareness about adhesive-based catheter stabilization devices is increasing among patients and physicians owing to their advantages over traditional suturing methods which is driving the global catheter stabilization devices market.

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According to Technavio analysts, one of the key factors contributing to the growth of the global catheter stabilization devices market is the increasing aging population:

Global catheter stabilization devices market: Increasing aging population

The rising aging population is expected to drive the growth of the global catheter stabilization devices market. The aging population or baby boomers create a huge demand for medical devices since they are prone to obesity, diabetes and other chronic diseases, which drive the sales of catheter stabilization devices.

According to a senior analyst at Technavio, “As per CDC report, chronic diseases such as heart diseases, cancer, and diabetes are the leading causes of death and accounts for $2.7 trillion in annual healthcare costs in the US. Thus, the increase in the prevalence of chronic diseases because of an aging population is likely to drive the demand for and adoption of advanced catheter stabilization devices.”

Global catheter stabilization devices market: Segmentation analysis

The global catheter stabilization devices market research report provides market segmentation by application (general surgery and gastrointestinal procedures, cardiovascular procedures, urological procedures, respiratory procedures, and others) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The Americas held the largest share of the market in 2018, accounting for 45% share. It was followed by EMEA and APAC respectively. The dominance of the Americas can be attributed to the growing aging population and increasing emphasis on reducing catheter-related infections.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

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View source version on businesswire.com:https://www.businesswire.com/news/home/20181129005429/en/

CONTACT: Technavio Research

Jesse Maida

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UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 11/29/2018 09:10 AM/DISC: 11/29/2018 09:10 AM

http://www.businesswire.com/news/home/20181129005429/en

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