Global Continuous Peripheral Nerve Block Catheter Market Revenue to Surpass US$ 742.7 Mn by 2027
Future Market Insights has delivered key insights and presented a revised forecast analysis on continuous peripheral nerve block catheters market in its new research study titled "Continuous Peripheral Nerve Block Catheter Market: Global Industry Analysis (2012-2016) and Forecast (2017-2027)". Continuous peripheral nerve block catheter are increasingly being used for pain management in patients undergoing upper/lower extremity surgeries and patients suffering from trauma, owing to their advantages, such as meticulous precision and low-price. Continuous peripheral nerve block catheter are emerging as a credible alternative to opioids for pain management as ill-effects associated with opioids are very severe such as addiction to opioids
Global Continuous Peripheral Nerve Block Catheter Market: Forecast Highlights
The global continuous peripheral nerve block catheter market is anticipated to record a CAGR of 6.1% and the market is estimated to reach a value of US$ 742.7 Mn in 2027 from a valuation of around US$ 411 Mn in 2017.
Global Continuous Peripheral Nerve Block Catheter Market: Segmental Analysis
The market is segmented based on product type, insertion technique, indication, end users and regions. On the basis of product type, the market has been segmented into stimulating catheter system, non-stimulating catheter systems and over-the-needle catheter systems. Non-stimulating catheter systems segment dominated the global continuous peripheral nerve block catheter market in terms of value and volume in 2017. This segment is expected to continue its dominating streak throughout the forecast period.
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On the basis of insertion technique, the continuous peripheral nerve block catheter market has been segmented into nerve stimulation and ultrasound based insertion technique. Continuous peripheral nerve block catheter that uses ultrasound based insertion technique is expected to witness higher demand than devices that use nerve stimulation technique for catheter insertion. The ultrasound based insertion technique segment is projected to grow at a higher rate during the forecast period. However, the nerve stimulation based insertion technique segment is expected to show a higher market valuation.
On the basis of indication, the continuous peripheral nerve block catheter market has been segmented into trauma cases, upper extremity surgeries, lower extremity surgeries, pain management and other indications. Amongst these aforementioned segments, lower extremity surgeries segment is expected to witness higher revenue growth as compared to other segments over the forecast period and this segment is expected to show higher value CAGR throughout the period of assessment.
Key end-use sectors that generate the bulk of demand for continuous peripheral nerve block catheter can be broadly categorised into hospitals and ambulatory surgical centres. Among these, hospitals account for the largest revenue share of the market, owing to increasing number of hospitalisations for upper/lower extremity procedures carried out in hospitals. The hospital segment is a highly lucrative segment from an investment standpoint.
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FMI’s report has segmented the global continuous peripheral nerve block catheter market on the basis of region into North America, Western Europe, Eastern Europe, Latin America, Asia Pacific Excluding Japan (APEJ), Middle East & Africa and Japan. This report assesses trends driving each market segment and offers analysis and insights about the potential of continuous peripheral nerve block catheter in specific regions. The North America region is the leading region in terms of global revenue share, followed by Western Europe and Japan. North America is estimated to dominate the continuous peripheral nerve block catheter market with maximum value share of the overall market by end of 2017. North America continuous peripheral nerve block catheter market increase at a CAGR of 6.5% through 2027. Presence of key regional players, strong distribution network, and developed healthcare infrastructure are the key factors driving the growth of the market in North America.
Global Continuous Peripheral Nerve Block Catheter Market: Competitive Assessment
Some key players in the global continuous peripheral nerve block catheter market identified include B. Braun Melsungen AG, Teleflex Incorporated, Halyard Health, Inc., Epimed International Inc. and Pajunk GmbH.