A major factor driving growth in the PICC market is the reduction in overall procedure cost associated with PICC implantation.
Vancouver, BC (PRWEB) June 17, 2015
A recent report published by iData Research (http://www.idataresearch.com) reveals that the peripherally inserted central catheter (PICC) market now makes up more than 25% of the Australian vascular access device market. Historically, central venous catheters (CVCs) have been the most commonly used central access devices. However, PICC unit sales are approaching CVC unit sales in Australia. Furthermore, due to the higher average selling price of PICCs, the PICC market value is already more than double that of CVCs.
“Emerging technology such as tip navigation will further aid in ensuring patient safety and is expected to bolster the demand for PICCs,” explains Dr. Kamran Zamanian, CEO of iData. “A major factor driving growth in the PICC market is the reduction in overall procedure cost associated with PICC implantation. This reduction is mainly due to the fact that nurses are able to place PICCs instead of physicians, and the implantation does not require an operating suite as is the case with an implantable port.”
Power-Injectable PICCs Gain Popularity
The Australian market for power-injectable PICCs is benefitting from double digit growth in unit sales because the majority of PICCs sold by leading companies are now power-injectable. This trend is led by C. R. Bard, the current PICC market leader, who is experiencing great success with the PowerPICC® catheter product and PowerPICC® Solo® catheter product. Teleflex Medical, who acquired Arrow International in 2007, is also poised to capitalize on the growth of power-injectable PICCs.
Other notable competitors in the PICC market segment include Cook Medical, AngioDynamics and Medcomp.
PICC Market Potential in Japan
Having been commonplace in Australia for two decades, the potential for PICC market growth is expected to spread to other Asia-Pacific countries as well. At this time, the PICC market remains relatively small in Japan. This is largely due to the Japanese regulations that currently require physicians rather than nurses to implant PICCS; therefore, Japan is not yet benefitting from these cost savings seen in Australia.
Nevertheless, training initiatives by companies to illustrate the cost-effectiveness of PICCs and their role in reducing central line blood stream infections will lead to market growth in Japan. Although PICC unit sales in Japan are not expected to overtake CVC unit sales any time soon, PICC unit sales will be growing at a significantly higher rate than CVC unit sales.
For Further Information
More on the vascular access device market in the Asia-Pacific region can be found in the report published by iData entitled Asia-Pacific Markets for Vascular Access Devices. This report covers Japan, South Korea, Australia, India and China, and includes the following market segments: implantable ports, port needles, central venous catheters, dialysis catheters, peripherally inserted central catheters and peripheral intravenous catheters.
The full iData series on the market for vascular access devices covers the U.S., Brazil, Japan, South Korea, Australia, India, China, and 15 countries in Europe. Full reports provide a comprehensive analysis including units sold, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment.
Register online or email us at info(at)idataresearch(dot)net for an Asia-Pacific Markets for Vascular Access Devices report brochure and synopsis.
About iData Research
iData Research (http://www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Diabetes Drugs, Diabetes Devices, Pharmaceuticals, Anesthesiology, Wound Management, Orthopedics, Cardiovascular, Ophthalmics, Endoscopy, Gynecology, Urology and more.