Global catheter stabilization device market would grow steadily at a CAGR of over 8%; Latin America has tremendous opportunities for growth
A Technavio’s market research report anticipates that the global catheter stabilization device market may grow steadily at a CAGR of over 8% over 2016-2020. Americas were the largest market for the catheter stabilization device in 2015 possessing more than half of the total market share with the US being the biggest revenue contributor. Emerging nations such as Brazil and Latin America also have tremendous opportunities for growth due to increase in healthcare spending and improvement in the standardization of protocols. The major driver behind the growth of the market is increasing minimally invasive surgeries and procedures, which are beneficial for patients in terms of shorter hospital stay, reduced pain, and faster recovery. Other factors include acceptance of integrated or closed catheter systems, patient safety benefits, high stability, and maximum patient comfort.