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Catheter stabilization devices are used to securely hold intravascular catheters in place for efficient drug delivery and other therapeutic procedures. These devices help prevent catheter tugging, kinking or accidental dislodgements, ensuring optimal procedure outcomes. Catheter stabilization reduces the risks associated with catheter migration or dislodgement during therapy. These devices are commonly used in critical care units, emergency rooms, surgical wards and other clinical settings for applications ranging from intravenous drug delivery to hemodialysis.
The global Catheter Stabilization Devices market is estimated to be valued at US$ 1.9 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the catheter stabilization devices market is the growing adoption of antimicrobial stabilization products. Catheter-related infection remains a major concern in clinical settings. As such, manufacturers are increasingly developing stabilization devices embedded with antimicrobial technologies like silver or chlorhexidine to inhibit microbial growth and reduce catheter-associated infections. For instance, 3M has launched a line of Tegaderm film dressings containing the antimicrobial agent chlorhexidine for catheter site protection. Such technologically advanced antimicrobial offerings are gaining traction among healthcare facilities looking to minimize catheter care complication risks. The rising penetration of innovative antimicrobial stabilization solutions will therefore propel market revenues over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants into the catheter stabilization devices market is low as this is a specialized market requiring regulatory approvals and presence of established manufacturers.
Bargaining power of buyers: The bargaining power of buyers is moderate as the catheter stabilization devices market has the presence of many manufacturers providing a variety of product options to buyers.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of substitute raw materials and parts used in manufacturing catheter stabilization devices.
Threat of new substitutes: The threat of substitutes is low as there are limited product substitution options for catheter stabilization devices used for effectively securing catheter tubes.
Competitive rivalry: The competitive rivalry in the catheter stabilization devices market is high due to the large presence of quality product offerings from established market players.
Key Takeaways
The global catheter stabilization devices market is expected to witness high growth over the forecast period of 2023 to 2030. The global Catheter Stabilization Devices market is estimated to be valued at US$ 1.9 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030.
Regional analysis comprises: North America holds the largest share of the global catheter stabilization devices market owing to the increasing geriatric population suffering from chronic diseases requiring surgical procedures using catheter devices for diagnosis and treatment. Factors such as rising healthcare expenditure and availability of advanced healthcare facilities also contribute to the dominant position of North America in the global market.
Key players related content comprises: Key players operating in the catheter stabilization devices market are Bard Medical, 3M, Baxter, Centurion Medical Products, and Merit Medical Systems. 3M is one of the leading manufacturers offering a wide range of catheter stabilization devices such as catheter securement devices, intravenous securement devices, and arterial securement devices.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
