Unlocking Opportunities in the Peripherally Inserted Central Catheter (PICC) Market: Key Growth Trends and Forecast Insights
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What is the Growth Potential of the Peripherally Inserted Central Catheter (PICC) Market, and How Will It Perform by 2034?
In recent years, there has been a significant expansion in the market size of the Peripherally Inserted Central Catheter (PICC). It is projected to grow from a value of $1.02 billion in 2024 to reach $1.08 billion in the year 2025, representing a compound annual growth rate (CAGR) of 5.8%. The previous growth observed can be linked with a move towards outpatient care, an aging demographic, a decrease in healthcare expenses, enhancement in patient comfort and safety, as well as the growth of interventional radiology.
In the coming years, the market size for the peripherally inserted central catheter (PICC) is projected to see consistent growth. The market is predicted to reach $1.29 billion in 2029, increasing at a compound annual growth rate (CAGR) of 4.4%. The growth during the forecast period can be credited to the expansion of interventional radiology practices, emphasis on controlling and preventing infection, increased health care spending, and initiatives aimed at patient-centered care. The key trends of the forecast period consist of advancements in technology, personalized medicine, minimally invasive procedures, inclusion of digital health technologies, and regulatory compliance and standardization.
How Are Key Drivers in the Industry Acting as Catalysts for the Growth of the Peripherally Inserted Central Catheter (PICC) Market?
The escalating incidence of chronic illnesses is anticipated to boost the peripherally inserted central catheter market’s growth in the future. Chronic diseases are extended-term health issues that tend to develop slowly over time, including cancer, diabetes, hypertension, stroke, heart disease, respiratory illnesses, arthritis, obesity, and dental diseases. Peripherally inserted central catheters (PICCs) are used in managing these long-term conditions to provide sustained intravenous access for drugs, fluids, parenteral nutrition, and blood draws. As an example, the National Library of Medicine, a US-based institution, reported in January 2023 that the count of individuals 50 years or older suffering from one or multiple chronic diseases is predicted to surge by 99.5%, reaching 142.66 million by 2050, an increase from 71.522 million in 2020 in the United States. Therefore, the escalating incidence of chronic diseases is acting as a catalyst for the growth of the peripherally inserted central catheter (PICC) market.
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Who Are the Major Companies Shaping the Competitive Landscape of the Peripherally Inserted Central Catheter (PICC) Market?
Major companies operating in the peripherally inserted central catheter (PICC) market report are Cardinal Health Inc., Medtronic plc, Becton Dickinson and Company, Boston Scientific Corporation, B. Braun Medical Ltd, Teleflex Incorporated, ICU Medical Inc., Cook Medical, AngioDynamics, Argon Medical, PFM Medical Inc., Poly Medicure Ltd., Kimal Plc, Utah Medical Products Inc., Martech Medical Products, NeoMedical, Medical Components Inc, DeltaMed Solutions Inc., Access Vascular Inc., Medi-Tech Devices, Footprint Medical Incorporated, Biowy Corporation, Husk Medical B.V., Medcomp, Vygon Ltd, Haolang Technology (Foshan) Limited Co. Ltd.
What Are the Key Emerging Trends in the Peripherally Inserted Central Catheter (PICC) Market for the Next Decade?
Leading players in the peripherally inserted central catheter (PICC) industry are investing in the development of new technologies, particularly PICC insertion equipment, in an effort to offer superior capabilities to their consumers. PICC insertion devices are sophisticated medical tools engineered explicitly for the application of PICCs through a peripheral vein, generally within the arm, and directing them through the blood vessels until the end touches a larger vein close to the heart. Take for instance, in May 2023, Teleflex Incorporated, a medical device corporation based in the US, introduced two new PICC insertion devices—the Arrow VPS Rhythm DLX Device and the NaviCurve Stylet. The VPS Rhythm DLX Device employs cardiac electrical activity to give instant data on the position of the catheter tip. The device also comes with an optional ultrasound integration and a tool for measuring the catheter-to-vessel ratio to maintain uniformity in vessel measurement. Using this device along with the Arrow PICC equipped with the NaviCurve Stylet, enables a new technology for tip navigation or location. Furthermore, the VPS Rhythm DLX Device incorporated with TipTracker Technology eliminates the need for a confirmatory x-ray, facilitating smooth insertion through ultrasound vascular assessment, PICC navigation, and final tip confirmation in the lower third of the superior vena cava.
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How Are Market Segments in the Peripherally Inserted Central Catheter (PICC) Industry Positioned for Long-Term Growth?
The peripherally inserted central catheter (PICC) market covered in this report is segmented –
1) By Device Type: Power-Injectable, Non-Power Injectable
2) By Lumen Type: Single, Double, Triple
3) By Kit Type: Tip-Placement Kit, Conventional Kit
4) By End User: Hospitals and Clinics, Ambulatory Surgical Centers, Catheterization Laboratories
Subsegments:
1) By Power-Injectable PICCs: Single Lumen Power-Injectable PICCs, Double Lumen Power-Injectable PICCs, Triple Lumen Power-Injectable PICCs
2) By Non-Power Injectable PICCs: Single Lumen Non-Power Injectable PICCs, Double Lumen Non-Power Injectable PICCs, Triple Lumen Non-Power Injectable PICCs
Which Regions Are Making a Mark in the Peripherally Inserted Central Catheter (PICC) Market Growth?
North America was the largest region in the peripherally inserted central catheter (PICC) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the peripherally inserted central catheter (PICC) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is the Peripherally Inserted Central Catheter (PICC) Market Categorized and Defined in the Industry?
A peripherally inserted central catheter (PICC) is a long, thin, flexible tube inserted into a peripheral vein, typically in the arm, and advanced until the tip reaches a larger vein near the heart called the superior vena cava. It is commonly used in healthcare settings to provide long-term access to intravenous (IV) therapies such as chemotherapy, antibiotics, nutrition, and other medications.
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