Antimicrobial catheters are advanced medical devices used in urinary, vascular, and central venous catheterization procedures to prevent infections. These catheters are coated or impregnated with antimicrobial agents like antibiotics and antiseptics that provides broad-spectrum protection against major pathogenic microorganisms. The demand for antimicrobial catheters is growing due to increasing prevalence of urinary tract infections and rising number of surgical procedures that require catheterization.
The global Antimicrobial Catheter Market is estimated to be valued at US$ 14505.18 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Reducing the risk of hospital-acquired infections (HAIs) presents a major market opportunity for antimicrobial catheters. HAIs are among the leading causes of death and increased healthcare costs in hospitals. It is estimated that over 722,000 HAIs occur annually in the United States, resulting in 75,000 deaths. Use of antimicrobial catheters can effectively kill microbes and prevent urinary tract and bloodstream infections associated with long-term catheter use. Their ability to significantly reduce the burden of HAIs makes them an important tool in infection control. This is expected to drive increasing adoption of antimicrobial catheters among healthcare facilities in the coming years.
Porter's Analysis
Threat of new entrants: The market requires significant clinical trials and regulatory approvals which makes the entry of new players difficult. Bargaining power of buyers: The bargaining power of buyers is moderate as there are many established players operating in the market. Bargaining power of suppliers: The bargaining power of suppliers is low as there are many raw material suppliers and players can easily switch to alternatives. Threat of new substitutes: New substitute technologies like non-invasive monitoring devices can pose a threat to antimicrobial catheters. Competitive rivalry: The market is dominated by key players like Pendulum, Amsterdam Winclove Probiotics, Metabogen AB (Biogaia).
SWOT Analysis
Strength: Antimicrobial catheters help reduce HAIs and risks associated with infections. They offer improved patient outcomes and safety. Weakness: High costs associated with clinical trials, stringent regulatory approvals and production. Opportunity: Increasing prevalence of hospital acquired infections is driving the demand. Growing geriatric population also provides growth prospects. Threats: Reimbursement issues in developing regions and preference for alternative non-invasive monitoring devices.
Key Takeaways
The Global Antimicrobial Catheter Market Size is expected to witness high growth at a CAGR of 11% during the forecast period of 2024 to 2031. The market size is projected to increase from US$ 14,505.18 Mn in 2024 to US$ 33,234.59 Mn by 2031.
North America dominates the global market owing to high prevalence of hospital acquired infections and presence of major players. Asia Pacific is expected to be the fastest growing region during the forecast period supported by growing healthcare infrastructure, large patient pool and increasing government focus on reducing HAIs.
Key players operating in the Antimicrobial Catheter market are Pendulum, Amsterdam Winclove Probiotics, Metabogen AB (Biogaia), Exeliom Biosciences, TargEDys, Chr. Hansen Holding A/S, YSOPIA Bioscience, A-Mansia Biotech, Next Gen Probiotics, Evolve Biosystems and DuPont de Nemours, Inc. Pendulum dominates the market with a wide portfolio of novel antimicrobial catheters while Biogaia is a prominent player offering probiotic based solutions.
Get More Insights Here
https://masstamilan.tv/industrial-dryers-advancing-process-efficiency-in-manufacturing-industries/
https://www.pressreleasebulletin.com/antimicrobial-catheter-market-size-share-growth-outlook-2023/
