August 08, 2022 04:20 ET | Source: Facts & Factors Facts & Factors
NEW YORK, United States, Aug. 08, 2022 (GLOBE NEWSWIRE) -- According to Facts and Factors has published a new research report titled “Catheter Stabilization Device Market Size, Share, Growth Analysis Report By Products (Arterial Securement Devices, Central Venous Catheter Securement Devices, Peripheral Securement Devices, Urinary Catheter Securement Devices, Chest Drainage Tube Securement Devices and Others), By End-Use (Hospitals, Home Care Settings and Others), and By Region- Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Catheter Stabilization Device Market size & share in terms of revenue was worth of USD 1,123.10 million in 2021 and it is expected to surpass around USD 1,676.04 million by 2028, growing at a compound annual growth rate (CAGR) of about 6.90% during the forecast period 2022 to 2028.”
What is Catheter Stabilization Device? How big is the Catheter Stabilization Device Industry?
Doctors utilize tiny catheters and flexible tubes to inject into patients' bodies and drain fluid from them. Medical accessories known as catheter stabilization devices are required to hold the catheter in place firmly. Catheter stabilization tools, such as catheter leg straps permit patients to walk around while the catheter is fastened to the thigh by wrapping around its circumference. They are designed to be quick and easy to attach and remove. It makes it easier for the insertion site to be seen for cleaning and inspection needs. It uses a clipping attachment affixed with an adhesive pad to change the shape of various body sections so that the catheter may be securely held.
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Global Catheter Stabilization Device Market Dynamics
Owing to the rise in demand for Catheter Stabilization devices, the global Catheter Stabilization Device market is estimated to grow at a CAGR of 6.90% during the forecast period. One of the industries propelling the global catheter stabilization device market is the medical applications in the ophthalmic, urological, neuromuscular, gastrointestinal and cardiovascular fields. It can be used as a urinary catheter for medication, angioplasty or angiography, to drain fluid buildup in an abdominal abscess, or to check blood pressure in an artery or vein. It is a crucial element in both medicinal and surgical procedures. The increased need for minimally invasive procedures is another factor driving the demand for catheters. The need for catheter stabilization devices grows together with the demand for catheters, which makes them captive commodities.
People are becoming more conscious, which is driving the market upward. The rise in cardiovascular illnesses is a key factor influencing the global catheter stabilization device market. One of the factors driving the market for catheter stabilization devices is the rise in chronic lifestyle diseases and accidents. Complications related to the insertion of catheters on patients undergoing surgical and non-surgical procedures are expected to pose a challenge to product demand during the projected period.
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Catheter Stabilization Device Market: COVID-19 Impact Analysis
As a result of the COVID-19 pandemic, there was an increase in the number of operations performed on the respiratory and circulatory systems and industry participants responded by producing more fixation devices. As a direct consequence of this, it is anticipated that hospitals and other diagnostic facilities will have a significant demand for catheter stabilizing devices. The markets for chest drainage tubes and devices used to secure central venous catheters are expected to remain the most active in North America and Europe, respectively. Positive market expectations can be expected because the government is putting in place good policies and putting more money into healthcare.
The Global Catheter Stabilization DeviceMarket is segregated based on products, end-user, and region. Based on products, the market is divided into Arterial Securement Devices, Central Venous Catheter Securement Devices, Peripheral Securement Devices, Urinary Catheter Securement Devices, Chest Drainage Tube Securement Devices and Others. The Arterial Securement Devices segment will dominate the market in 2021. Based on end-use, the market is divided into Hospitals, Home Care Settings and Others. Over the forecast period, the Hospitals segment is expected to develop at the fastest rate in 2021.
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Some of the main competitors dominating the global Catheter Stabilization Device market include -
Key Insights from Primary Research:
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North America is expected to dominate the Global Catheter Stabilization Device Market in 2021. The high surgery rate increases the need for stabilizing devices and contributes significantly to the region's portion of the market. In addition, the growing use of catheterization procedures in evaluation, diagnosis, and treatment is one factor driving the upward market. Over the forecast period, the Asia Pacific regional market is expected to grow significantly in 2021due to a big patient pool, expanding target population, significant unmet needs, and improved regional infrastructure. In addition, growth in this region is anticipated to be boosted by rising demand for various surgeries, bettering healthcare facilities, and raising public and professional knowledge.
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The global Catheter Stabilization Device market is segmented as follows:
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