The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Market Overview and Growth Trends

• Market Size and Growth: The peripherally inserted central catheter (PICC) market has experienced robust growth, expanding from $1.01 billion in 2023 to $1.08 billion in 2024, with a CAGR of 6.61%. It is projected to reach $1.32 billion by 2028, growing at a CAGR of 5.17%.
• Drivers of Growth: Shift towards outpatient care, aging population, cost reduction, improved patient comfort, and expanded interventional radiology practices contribute to market expansion.
• Forecasted Trends: Technological advancements, personalized medicine, minimally invasive procedures, integration of digital health technologies, and regulatory standardization are key trends shaping future growth.

Impact of Rising Chronic Diseases on the Market

The prevalence of chronic diseases such as cancer, diabetes, and cardiovascular conditions is rising globally, driving demand for long-term intravenous access solutions like PICCs. By 2050, the number of individuals aged 50 years and older with chronic illnesses in the US is expected to nearly double, highlighting substantial market growth potential.

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Key Players in the Market

• Major Companies: Cardinal Health Inc., Medtronic plc, Becton Dickinson and Company, Boston Scientific Corporation, and others dominate the PICC market, leveraging extensive product portfolios and global presence.

Innovative Advances in PICC Insertion Devices

Technological innovations in PICC insertion devices enhance patient care and procedural efficiency:

• Teleflex Incorporated: Launched the Arrow VPS Rhythm DLX Device and NaviCurve Stylet, utilizing cardiac electrical activity for real-time catheter tip positioning and ultrasound guidance, eliminating the need for confirmatory x-rays.

1. Braun Medical Inc.’s Strategic Acquisition

• Acquisition: B. Braun Medical Inc. acquired the Clik-FIX catheter securement device line from Starboard Medical Inc. in 2022, bolstering its position in the PICC market and focusing on patient safety and treatment efficacy.

Market Segmentation

The PICC market is segmented based on device type, lumen type, kit type, and end-user:

• Device Types: Power-Injectable and Non-Power Injectable PICCs.
• Lumen Types: Single, Double, and Triple.
• Kit Types: Tip-Placement Kit and Conventional Kit.
• End Users: Hospitals and Clinics, Ambulatory Surgical Centers, and Catheterization Laboratories.

Regional Insights

• North America: Largest market in 2023, driven by advanced healthcare infrastructure and high adoption rates.
• Asia-Pacific: Expected to witness the fastest growth, fueled by increasing healthcare expenditure, improving healthcare access, and rising chronic disease prevalence.

In conclusion, the peripherally inserted central catheter (PICC) market continues to expand steadily, driven by technological innovations, demographic shifts, and increasing healthcare demands globally. With advancements in insertion technologies and strategic acquisitions enhancing product offerings, the future outlook remains promising for stakeholders in this vital medical device sector.

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