Peripherally Inserted Central Catheter Market 2015-2019

Market outlook of the global peripherally inserted central catheter market

A peripherally inserted central catheter (PICC) is a thin, soft, flexible tube that is used to inject fluids or medications directly into a vein or to draw blood samples for testing. The global market for PICC is expected to exhibit steady growth during the forecast period and is heavily influenced by factors like the rising incidence of chronic disease patients that require PICCs for nutrition and drug delivery. The increasing adoption of such devices for minimally invasive (MI) techniques is expected to result in its steady CAGR of more than 6% by 2019.

Technavio’s market research analyst estimates eminent factors, such as the augmented use of PICCs in chemotherapy, to drive market growth during the forecast period. PICCs provide short-term access to the blood and are widely used in patients who receive chemotherapy once every few weeks. These catheters have a closed system for blood control and help to enhance the patients’ safety. These factors impel the adoption of PICCs in chemotherapy, which in turn aids in promoting market growth during the forecast period.

Competitive landscape and key vendors

The global market for PICCs is monopolistic and is dominated by few leading vendors like AngioDynamics and CR Bard. The revenue generated by the small vendors is uncertain as it is entirely dependent on the demand for catheters and healthcare reforms in the country. Though many vendors enter this market due to its low entry barrier, only a few players that have the ability to properly manage their sales, distribution, and working capital are expected to survive and continue their operations during the forecast period.