Transparency Market Research in its new report titled, “Triple Lumen Catheters Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the Triple Lumen Catheters Market. Triple lumen catheters are used for administration of hyperosmolar solutions, measuring central venous pressure, hemodialysis, plasmapheresis, and rapid infusion of fluid, among others. Triple lumen catheters is a type of central venous catheter. Central venous catheter is a thin, flexible tube that is placed into the large vein above the heart, usually through a vein in the neck, chest, or arm. Triple lumen catheters are indicated for hemodialysis, apheresis, infusion, central venous pressure monitoring, and high pressure contrast injection.
Rise in adoption and increase in demand for antimicrobial-coated catheters, surge in number of chronic diseases such as cancer, end-stage renal disease, and others; increase in geriatric population, and rise in usage of tip location devices are anticipated to drive the global triple lumen catheters market. Other factors such as increase in adoption of advanced products and new product launches are expected to propel the market during the forecast period. For instance, in February 2015, Teleflex Incorporated launched triple-lumen ARROW PICC with Chlorag+ard Technology.
Pressure-injectable ARROW PICCs with Chlorag+ard Technology are central venous catheters used to significantly reduce the risk of central line-associated bloodstream infections (CLABSI) and PICC-related vessel thrombosis, compared to traditional uncoated catheters. However, risks associated with catheters and pricing pressure are projected to hamper the growth of the global triple lumen catheters market.
In terms of region, the global triple lumen catheters market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America was a significant market for triple lumen catheters in 2017 and the trend is expected to continue during the forecast period. North America’s dominance of the global market is attributed to favorable insurance and reimbursement policies, technological innovation, early adoption of diagnostic procedures, and high health care burden of cancer are likely to drive the market in the region.
According to the National Cancer Institute, estimated national expenditure on cancer care in the U.S. stood at US$ 147.3 Bn in 2017. Costs are likely to increase in the near future, as the population ages and cancer prevalence increases. Europe was also a significant market for triple lumen catheters in 2017, due to increase in government initiatives, rise in adoption of technologically advanced products, and surge in incidence of chronic diseases such as cancer, end-stage renal disease, and others.
Key players operating in the global triple lumen catheters market are B. Braun Melsungen AG, Medtronic, Baxter, Edwards Lifesciences Corporation, Teleflex Incorporated, Becton, Dickinson and Company, and C. R. Bard, Inc.
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