Navigating Growth: Trends and Opportunities in the Peripherally Inserted Central Catheters Market

The global Peripherally Inserted Central Catheters Market is estimated to be valued at US$ 978.2 Mn or Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Peripherally inserted central catheters are long, thin, flexible tubes that are inserted into a peripheral vein, usually in the arm, and guided into a large vein near the heart for long-term intravenous medication, fluid therapy or blood transfusion administration. These catheters have many advantages over other central venous catheter such as reduced risks of complications and easy insertion and removal.

Market key trends:
The key trend in peripherally inserted central catheters market includes growing adoption of powered peripherally inserted central catheters. Powered peripherally inserted central catheters perform insertion into the vein mechanically using robotic assistance. This reduces time required for insertion and risks of complications associated with manual insertion. The powered catheters gain popularity due to precise and controlled placement and reduced chances of malpositioning or accidental puncture of arteries. Additionally, increasing cases of cancer and growing demand for long term venous access devices is contributing to the growth of peripherally inserted central catheters market.
Market Key Trends: Peripherally Inserted Central Catheters Market:
– Increased adoption of advanced peripherally inserted central catheters in home care settings and ambulatory care centers. Advanced PICC provide accurate positioning and reduce risks of catheter associated complications providing comfort to patients.
– Rising demand for less invasive permanent vascular access devices for long term medical treatment like chemotherapy or antibiotics. PICC provide alternative to midline and ports for long term intravenous therapy.

SWOT Analysis
Strengths: Safe and effective option for long term intravenous access. Reduce risks of infection associated with short peripheral catheters.
Weaknesses: Require skilled professionals for insertion and maintenance. Risks of inadvertent removal, migration or occlusion.
Opportunities: Growing demand in home care settings and ambulatory care centers. New product launches with advanced technology.
Threats: Availability of alternative vascular access devices. Risks of thrombus formation and catheter damage.

Key Takeaways
The global Peripherally Inserted Central Catheters market is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing prevalence of chronic diseases requiring long term medical treatment and growing preference for less invasive vascular access procedures.

Regional analysis North America accounted for largest share in peripherally inserted central catheters market due to strong healthcare infrastructure, reimbursement policies and concentration of key players in the region. Asia Pacific exhibits potential growth owing to rapid improvements in healthcare facilities, medical tourism and rising healthcare expenditure in China and India.

Key players operating in the Peripherally Inserted Central Catheters market are AngioDynamics Inc., B. Braun Melsungen AG, Becton, Dickinson and Company, Teleflex Incorporated., Argon Medical Devices, Inc., Cook Medical Inc., ICU Medical, Inc., Medical Components, Inc., Access Vascular, and Vygon (UK) Ltd. AngioDynamics dominates the PICC market with product portfolio including PowerPICC, BioFlo PICC and Cypher PICC.