U.S. Disinfecting Cap Market, by Application (Central Venous Line, Peripheral IV Catheters and Others), and by End User (Hospital and Clinics, Ambulatory/Outpatient Surgical Centers, and Others) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027
U.S. Disinfecting Cap Market, by Application (Central Venous Line, Peripheral IV Catheters and Others), and by End User (Hospital and Clinics, Ambulatory/Outpatient Surgical Centers, and Others), is expected to be valued at US$ 359.3 million in 2019, and is expected to exhibit a CAGR of 10.7% over the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
Increasing demand for disinfecting caps in hospitals to prevent hospital acquired infection (HAI) is expected to provide immense growth opportunities for industry players operating in the U.S market. According to a study done by researchers from the Mercy Hospital in St. Louis, published in the Journal of the Association for Vascular Access 2017, the rate of peripheral venous catheter-related bloodstream infections decreased from 0.57 to 0.11 per 1,000 patients in a day, with the use of the PIV bundles in the Mercy Hospital.
Similarly, in January 2016, ICU Medical Inc. announced the peer-reviewed results of a study published in Infection Control & Hospital Epidemiology journal. The study results showed that the use of the SwabCap disinfecting cap for needle-free connectors successfully reduced central line–associated bloodstream infections (HA-CLABSI) and blood culture contamination (BCC) in hematology-oncology patients.
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Browse 8 Market Data Tables and 12 Figures spread through 90 Pages and in-depth TOC on 'Disinfecting Cap Market'- U.S. Forecast to 2027, by Application (Central Venous Line, Peripheral IV Catheters and Others), and by End User (Hospital and Clinics, Ambulatory/ Outpatient Surgical Centers, and Others).
Key players in the market are focused on adopting expansion strategies such as mergers and acquisitions, agreements and partnerships in order to expand their product portfolio and presence in the disinfecting cap market. For instance, in March 2016, ICU Medical Inc. signed a distribution agreement with B. Braun Melsungen. Under this agreement, B.Braun agreed to distribute SwabCap, the disinfecting cap used to prevent CLABSI infection, to more than 30 countries outside the U.S.
Similarly, in November 2019, ICU Medical, Inc. acquired Pursuit Vascular, Inc., a medical device company engaged in the development of innovative catheter disinfecting products and technologies to reduce the risk of bloodstream infections associated with catheters.
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Key Takeaways of the U.S. Disinfecting Cap Market:
The U.S. disinfecting cap market is expected to exhibit a CAGR of 10.7% over the forecast period owing to increasing demand for disinfecting caps for prevention of hospital acquired infections (HAI). For instance, in January 2016, ICU Medical Inc. announced that the peer-reviewed study by clinicians at New York City's Memorial Sloan Kettering Cancer Center showed that the incidence of central line-associated bloodstream infections and blood culture contamination decreased by using ICU Medicals’ Swabcap, which led to an annual savings of US$ 3.2 million in direct medical costs.
Among application, the central venous line segment held the major market share in 2019, owing to increasing adoption of disinfecting caps for preventing hospital acquired infections (HAI). For instance, according to a study published in 2017 by 3M, Curos disinfecting cap achieved 99.99% efficiency in reducing 6 microbes (Staphylococcus auras, Staphylococcus epidermidis, Escherichia coli, CANDIDA albicans, Pseudomonas aeruginosa, and Candida glabarta), which are associated with CLABSI.
Among end user, the hospitals and clinics segment held a major market share in 2019. Hospitals are major end users of disinfecting caps as these caps are majorly used to protect catheters and I.V. access points from contamination risk
The companies operating in the U.S. disinfecting cap market include ICU Medical, C.R. Bard, Becton, Dickinson and Company, 3M, Merit Medical Systems, and other prominent players.
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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