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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.
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.
Key vendors in this market are -
Other prominent vendors analyzed in this market research are Argon Medical Devices, Boston Scientific, Cook Medical, Icumed, MARTECH Medical Products, Medcomp, Medical Components, Medtronic, Merit Medical Systems, Smiths Medical, Theragenics, Terumo, and Vygon.
In this market research report, analysts estimate the power injectable PICC segment to be the fastest growing segment during the forecast period. These PICCs are less invasive and provide long-term access with decreased risks. Therefore, it has been estimated that this segment will show strong growth during the forecast period and will account for nearly 90% of the overall market share by 2019.
Technavio market research analysts estimate the Americas to dominate the global market for PICCs during the forecast period. Currently, this region accounts for more than 72% of the total market and is estimated to further increase its market share by 2019 owing to factors like the increasing incidence of diseases like cancer and viral infections.
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Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
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Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
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