Catheter Stabilization Device/Catheter Securement Device Market by Product ((Arterial, CVS (Portal, Femoral), Chest, Epidural, Peripheral (Nasogastric, Endotracheal, Foley)), Application (Cardiovascular, Respiratory), End User - Global Forecast to 2024
The global catheter securement devices market is projected to reach USD 1.6 billion by 2024 from USD 1.1 billion in 2019, at a CAGR of 7.5% from 2019 to 2024. The growth of the market is largely driven by factors such as the growing global prevalence of lifestyle diseases such as heart diseases, strokes diabetes, and the increasing healthcare expenditure across the countries. Developing economies are expected to provide a wide range of growth opportunities for players in the market.
“Peripheral securement devices accounted for a significant share of the market in 2019”
By product type, the catheter securement devices market is segmented into arterial securement devices, central venous catheter securement devices, peripheral securement devices, chest drainage tube securement devices, abdominal drainage tube securement devices, epidural securement devices and all site devices. The central venous catheter securement devices is the fastest growing segment due to the rising incidence of cardiovascular diseases such as strokes and heart diseases.
“Cardiovascular procedures segment accounted for the largest share of the catheter securement devices market in 2019”
On the basis of application, the catheter securement devices market is segmented into cardiovascular procedures, respiratory procedures, gastric procedures, general surgery, urological procedures, radiology procedures and others. Catheter securement devices are used for stabilizing the catheters. This is done to reduce any kinds of catheter related infections. Such catheters are used in major procedures such as cardiovascular, respiratory, general surgeries.
“Hospitals segment accounted for the largest share of the catheter securement devices market in 2019”
On the basis of end user, the catheter securement devices market is segmented into hospitals, home care settings, emergency clinics and diagnostic centers. Of all these end-user segments, hospitals accounted for the largest share of the catheter securement devices market in 2019. The large share of this segment can be attributed to factors such as the rapidly growing aging population, the higher surgeries performed in the hospital settings and the increasing reimbursements in the hospital settings.
“North America dominated the catheter securement devices market in 2019”
North America, which includes the US, & Canada, accounted for the largest share of the catheter securement devices market. The growth in this market is primarily driven by the rising geriatric population, favorable government initiatives, increasing healthcare expenditure, improved healthcare infrastructure coupled with the rising prevalence of lifestyle diseases.
Breakdown of supply-side primary interviews, by company type, designation, and region:
- By Company Type: Tier 1 (20%) , Tier 2 (45%), and Tier 3 (35%)
- By Designation: C-level (30%), Director-level (20%), and Others (50%)
- By Region: North America (35%), Europe (24%), Asia (25%), and RoW (16%)
Research Coverage
This report studies the catheter securement devices market based on product type, application end user and region. The report also analyzes factors (such as drivers, restraints and opportunities) affecting market growth. It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total catheter securement devices market. The report forecasts the revenue of the market segments with respect to four major regions.
Reasons to Buy the Report:
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on catheter securement devices offered by the top 10 players in the catheter securement devices market. The report analyzes the catheter securement devices market by type, end user, application, and region.
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various securement devices across key geographic regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the catheter securement devices market
- Competitive Assessment: In-depth assessment of market shares and strategies of the leading players in the catheter securement devices market
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.2.1 MARKETS COVERED
1.2.2 YEARS CONSIDERED FOR THE STUDY
1.3 CURRENCY
1.4 LIMITATIONS
1.5 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
2.4 ASSUMPTIONS FOR THE STUDY
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 CATHETER SECUREMENT DEVICES: MARKET OVERVIEW
4.2 NORTH AMERICA: CATHETER SECUREMENT DEVICES MARKET, BY TYPE (2019)
4.3 GEOGRAPHICAL SNAPSHOT OF THE CATHETER SECUREMENT DEVICES MARKET
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Increasing prevalence of lifestyle diseases
5.2.1.2 Cost-benefits of securement devices
5.2.2 RESTRAINTS
5.2.2.1 Availability of alternative products
5.2.3 OPPORTUNITIES
5.2.3.1 Emerging economies
6 CATHETER SECUREMENT DEVICES MARKET, BY TYPE
6.1 INTRODUCTION
6.2 PERIPHERAL CATHETER SECUREMENT DEVICES
6.2.1 PERIPHERAL CATHETER SECUREMENT DEVICES HOLD THE LARGEST MARKET SHARE DUE TO THE LARGE NUMBER OF PERIPHERAL CATHETERS USED IN SURGERIES
6.2.1.1 Foley catheter securement devices
6.2.1.2 Nasogastric tube securement devices
6.2.1.3 Endotracheal tube securement devices
6.2.1.4 Ventriculoperitoneal securement devices
6.2.1.5 Continuous nerve block catheter securement devices
6.2.1.6 Midlines securement devices
6.3 CENTRAL VENOUS CATHETER SECUREMENT DEVICES
6.3.1 CENTRAL VENOUS CATHETER SECUREMENT DEVICES ARE REPLACING SUTURES DUE TO THEIR EASE OF USE AND LOWER CHANCES OF INFECTIONS
6.3.1.1 Portal securement devices
6.3.1.2 PICC securement devices
6.3.1.3 Subclavian securement devices
6.3.1.4 Femoral securement devices
6.3.1.5 Jugular securement devices
6.4 ARTERIAL CATHETER SECUREMENT DEVICES
6.4.1 ARTERIAL SECUREMENT DEVICES ARE USED FOR REDUCING INFECTIONS AT THE ARTERIAL CATHETER INSERTION SITES
6.5 CHEST DRAINAGE TUBE SECUREMENT DEVICES
6.5.1 CHEST DRAINAGE TUBE SECUREMENT DEVICES ARE NECESSARY FOR AVOIDING COMPLICATIONS IN LUNG CONDITIONS
6.6 ABDOMINAL DRAINAGE TUBE SECUREMENT DEVICES
6.6.1 LOW POPULARITY OF PROPHYLACTIC DRAINAGE PROCESS HAS HINDERED OVERALL USE OF RELATED SECUREMENT DEVICES
6.6.1.1 Percutaneous endoscopic gastrostomy securement devices
6.6.1.2 Jejunal catheter securement devices
6.6.1.3 Umbilical catheter securement devices
6.7 EPIDURAL SECUREMENT DEVICES
6.7.1 EPIDURAL SECUREMENT DEVICES ARE USED TO AVOID COMPLICATIONS IN C-SECTION PROCEDURES
6.8 ALL-SITE SECUREMENT DEVICES
6.8.1 FLEXIBILITY OF FUNCTION ALLOWS FOR WIDE APPLICATIONS OF ALL-SITE SECUREMENT DEVICES
7 CATHETER SECUREMENT DEVICES MARKET, BY APPLICATION
7.1 INTRODUCTION
7.2 CARDIOVASCULAR PROCEDURES
7.2.1 INCREASING PREVALENCE OF CARDIOVASCULAR DISEASES WILL DRIVE MARKET GROWTH
7.3 RESPIRATORY PROCEDURES
7.3.1 INCREASING PREVALENCE OF RESPIRATORY DISEASES WILL DRIVE DEMAND FOR SECUREMENT DEVICES
7.4 GASTRIC AND OROPHARYNGEAL PROCEDURES
7.4.1 GROWING GERIATRIC POPULATION AND INCREASE IN THE PREVALENCE OF GASTRIC DISEASES WILL DRIVE MARKET GROWTH
7.5 GENERAL SURGERY
7.5.1 MOST GENERAL SURGERIES ARE PERFORMED IN HOSPITAL SETTINGS
7.6 UROLOGICAL PROCEDURES
7.6.1 HIGH PREVALENCE OF UROLOGICAL DISEASES WILL INCREASE THE DEMAND FOR CATHETER SECUREMENT DEVICES
7.7 RADIOLOGY
7.7.1 INTERVENTIONAL RADIOLOGY PROCEDURES REQUIRE MULTIPLE CATHETERS AND SECUREMENT DEVICES
7.8 OTHER APPLICATIONS
8 CATHETER SECUREMENT DEVICES MARKET, BY END USER
8.1 INTRODUCTION
8.2 HOSPITALS
8.2.1 HIGH VOLUME OF SURGERIES TO DRIVE THE DEMAND FOR CATHETER SECUREMENT DEVICES IN HOSPITALS
8.3 HOMECARE SETTINGS
8.3.1 GROWING DEMAND FOR LONG-TERM CARE IN HOMECARE SETTINGS TO SUPPORT THE GROWTH OF THIS END-USER SEGMENT
8.4 EMERGENCY CLINICS
8.4.1 RISING PATIENT VOLUME IN EMERGENCY CLINICS TO SUPPORT THE GROWTH OF THIS END-USER SEGMENT
8.5 DIAGNOSTIC IMAGING CENTERS
8.5.1 INCREASING DEMAND FOR PREVENTIVE IMAGING PROCEDURES TO DRIVE THE GROWTH OF THIS END-USER SEGMENT
9 CATHETER SECUREMENT DEVICES MARKET, BY REGION
9.1 INTRODUCTION
9.2 NORTH AMERICA
9.2.1 US
9.2.1.1 US dominates the North American catheter securement devices market
9.2.2 CANADA
9.2.2.1 Increasing awareness of CVD will drive market growth in Canada
9.3 EUROPE
9.3.1 GERMANY
9.3.1.1 Germany dominates the European catheter securement devices market
9.3.2 UK
9.3.2.1 CVD is the second-most-common cause of death in the UK
9.3.3 FRANCE
9.3.3.1 Favorable demographics will support the adoption of catheter securement devices in France
9.3.4 REST OF EUROPE
9.4 ASIA PACIFIC
9.4.1 CHINA
9.4.1.1 China accounts for the largest share of the APAC market
9.4.2 JAPAN
9.4.2.1 Well-developed healthcare system and universal healthcare reimbursement policy are expected to drive market growth
9.4.3 INDIA
9.4.3.1 Increasing incidence of CVD is driving market growth
9.4.4 REST OF APAC
9.5 REST OF THE WORLD
10 COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 MARKET SHARE ANALYSIS, 2018
10.3 KEY STRATEGIES
10.3.1 PRODUCT LAUNCHES, 2016–2019
10.4 COMPETITIVE LEADERSHIP MAPPING (2018)
10.5 VENDOR INCLUSION CRITERIA
10.5.1 VISIONARY LEADERS
10.5.2 INNOVATORS
10.5.3 DYNAMIC DIFFERENTIATORS
10.5.4 EMERGING COMPANIES
10.6 COMPETITIVE LEADERSHIP MAPPING FOR START-UPS (2018)
10.6.1 PROGRESSIVE COMPANIES
10.6.2 STARTING BLOCKS
10.6.3 RESPONSIVE COMPANIES
10.6.4 DYNAMIC COMPANIES
11 COMPANY PROFILES
(Business Overview, Products Offered, Recent Developments, MnM View)*
11.1 3M COMPANY
11.2 B BRAUN MELSUNGEN AG
11.3 BAXTER INTERNATIONAL
11.4 C.R. BARD (BECTON DICKINSON AND COMPANY)
11.5 CENTURION MEDICAL PRODUCTS (MEDLINE)
11.6 CONVATEC, INC.
11.7 MC JOHNSON COMPANY INC.
11.8 MERIT MEDICAL SYSTEMS INC.
11.9 CARDINAL HEALTH, INC.
11.10 SMITHS GROUP PLC
*Business Overview, Products Offered, Recent Developments, MnM View might not be captured in case of unlisted companies.
12 APPENDIX
12.1 INSIGHTS OF INDUSTRY EXPERTS
12.2 DISCUSSION GUIDE
12.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
12.4 AVAILABLE CUSTOMIZATIONS
12.5 RELATED REPORTS
12.6 AUTHOR DETAIL
TABLE 1 CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 2 PERIPHERAL CATHETER SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 3 PERIPHERAL SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 4 FOLEY CATHETER SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 5 NASOGASTRIC TUBE SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 6 ENDOTRACHEAL TUBE SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 7 VENTRICULOPERITONEAL SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 8 CONTINUOUS NERVE BLOCK CATHETER SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 9 MIDLINES SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 10 CENTRAL VENOUS CATHETER SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 11 CENTRAL VENOUS CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 12 PORTAL SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 13 PICC SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 14 SUBCLAVIAN SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 15 FEMORAL SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 16 JUGULAR SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 17 ARTERIAL CATHETER SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 18 CHEST DRAINAGE TUBE SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 19 ABDOMINAL DRAINAGE TUBE SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 20 ABDOMINAL DRAINAGE TUBE SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 21 PERCUTANEOUS ENDOSCOPIC GASTROSTOMY SECUREMENT MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 22 JEJUNAL SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 23 UMBILICAL CATHETER SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 24 EPIDURAL SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 25 ALL-SITE SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 26 CATHETER SECUREMENT DEVICES MARKET, BY APPLICATION, 2017–2024 (USD MILLION)
TABLE 27 CATHETER SECUREMENT DEVICES MARKET FOR CARDIOVASCULAR PROCEDURES, BY REGION, 2017–2024 (USD MILLION)
TABLE 28 CATHETER SECUREMENT DEVICES MARKET FOR RESPIRATORY PROCEDURES, BY REGION, 2017–2024 (USD MILLION)
TABLE 29 CATHETER SECUREMENT DEVICES MARKET FOR GASTRIC AND OROPHARYNGEAL PROCEDURES, BY REGION, 2017–2024 (USD MILLION)
TABLE 30 CATHETER SECUREMENT DEVICES MARKET FOR GENERAL SURGERY, BY REGION, 2016–2023 (USD MILLION)
TABLE 31 CATHETER SECUREMENT DEVICES MARKET FOR UROLOGICAL PROCEDURES, BY REGION, 2017–2024 (USD MILLION)
TABLE 32 CATHETER SECUREMENT DEVICES MARKET FOR RADIOLOGY, BY REGION, 2017–2024 (USD MILLION)
TABLE 33 CATHETER SECUREMENT DEVICES MARKET FOR OTHER APPLICATIONS, BY REGION, 2017–2024 (USD MILLION)
TABLE 34 CATHETER SECUREMENT DEVICES MARKET, BY END USER, 2017–2024 (USD MILLION)
TABLE 35 CATHETER SECUREMENT DEVICES MARKET FOR HOSPITALS, BY REGION, 2017–2024 (USD MILLION)
TABLE 36 CATHETER SECUREMENT DEVICES MARKET FOR HOMECARE SETTINGS, BY REGION, 2017–2024 (USD MILLION)
TABLE 37 CATHETER SECUREMENT DEVICES MARKET FOR EMERGENCY CLINICS, BY REGION, 2017–2024 (USD MILLION)
TABLE 38 CATHETER SECUREMENT DEVICES MARKET FOR DIAGNOSTIC IMAGING CENTERS, BY REGION, 2017–2024 (USD MILLION)
TABLE 39 CATHETER SECUREMENT DEVICES MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 40 NORTH AMERICA: CATHETER SECUREMENT DEVICES MARKET, BY COUNTRY, 2017–2024 (USD MILLION)
TABLE 41 NORTH AMERICA: CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 42 NORTH AMERICA: CENTRAL VENOUS CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 43 NORTH AMERICA: PERIPHERAL CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 44 NORTH AMERICA: ABDOMINAL CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 45 NORTH AMERICA: CATHETER SECUREMENT DEVICES MARKET, BY APPLICATION, 2017–2024 (USD MILLION)
TABLE 46 NORTH AMERICA: CATHETER SECUREMENT DEVICES MARKET, BY END USER, 2017–2024 (USD MILLION)
TABLE 47 US: CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 48 CANADA: CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 49 EUROPE: CATHETER SECUREMENT DEVICES MARKET, BY COUNTRY, 2017–2024 (USD MILLION)
TABLE 50 EUROPE: CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 51 EUROPE: CENTRAL VENOUS CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 52 EUROPE: PERIPHERAL CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 53 EUROPE: ABDOMINAL CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 54 EUROPE: CATHETER SECUREMENT DEVICES MARKET, BY APPLICATION, 2017–2024 (USD MILLION)
TABLE 55 EUROPE: CATHETER SECUREMENT DEVICES MARKET, BY END USER, 2017–2024 (USD MILLION)
TABLE 56 GERMANY: CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 57 UK: CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 58 FRANCE: CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 59 ROE: CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 60 APAC: CATHETER SECUREMENT DEVICES MARKET, BY COUNTRY, 2017–2024 (USD MILLION)
TABLE 61 APAC: CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 62 APAC: CENTRAL VENOUS CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 63 APAC: PERIPHERAL CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 64 APAC: ABDOMINAL CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 65 APAC: CATHETER SECUREMENT DEVICES MARKET, BY APPLICATION, 2017–2024 (USD MILLION)
TABLE 66 APAC: CATHETER SECUREMENT DEVICES MARKET, BY END USER, 2017–2024 (USD MILLION)
TABLE 67 CHINA: CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 68 JAPAN: CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 69 INDIA: CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 70 ROAPAC: CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 71 ROW: CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 72 ROW: CENTRAL VENOUS CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 73 ROW: PERIPHERAL CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 74 ROW: ABDOMINAL CATHETER SECUREMENT DEVICES MARKET, BY TYPE, 2017–2024 (USD MILLION)
TABLE 75 ROW: CATHETER SECUREMENT DEVICES MARKET, BY APPLICATION, 2017–2024 (USD MILLION)
TABLE 76 ROW: CATHETER SECUREMENT DEVICES MARKET, BY END USER, 2017–2024 (USD MILLION)
The report provides a detailed overview of the major drivers, restraints, and opportunities impacting the global securement devices market along with the estimates and forecasts of the revenue and market share analysis.
The global securement devices market is expected to reach $1,372.35 Million by 2020 from $957.26 Million in 2015, growing at a CAGR of 7.47% between 2015 and 2020.
The global securement devices market is poised for rapid growth between 2015 and 2020. The include increasing healthcare expenditure, growing aging population, increasing prevalence of lifestyle diseases, and increasing demand for minimally invasive surgeries are important reasons for the growth in market size.
The major players in the Securement Devices Market are
- Medtronic plc (U.S.)
- 3M Company (U.S.)
- C. R. Bard, Inc. (U.S.)
- Baxter International, Inc. (U.S.)
- ConvaTec Inc. (U.S.)
- Merit Medical Systems, Inc. (U.S.)
Increasing healthcare expenditure will aid the growth of the securement devices market. Today, healthcare expenditure constitutes a significant part of the development budget of all countries. It consists of spending by both public and private sources on medical goods and services. Rapid economic development across the globe is expected to improve access to quality healthcare. Increasing healthcare expenditure will lead to a rise in the demand for quality healthcare and will be an important growth driver for the securement devices market.
According to estimates from the World Bank, global healthcare spending increased at a CAGR of 7.45% from 2003 to 2012, from $3,829 Billion in 2003 to $7,310 Billion in 2012. In the same period, the global public healthcare spending increased from $2,207 Billion in 2003 to $4,352 Billion in 2012, at a CAGR of 7.84%. This high growth rate, along with the substantial size of healthcare spending, will act as an important driver for hospitals and diagnostics centers, which are the major end-user segments of the securement devices market.
The geographic segments included in this report are North Americas, Europe, Asia and Rest of the World (RoW). North America has the largest share of this market in 2015, while Asia is expected to grow at the fastest rate during the forecast period. Growth in the Asian securement devices market will primarily be driven by the aging population in this region.