Continuous Peripheral Nerve Block Catheter Market to Reach US$ 870.1 Mn at a CAGR of 6.2% by 2030

June 6th, 2023 Coherent Market Insights Releases

Continuous Peripheral Nerve Block Catheter Market Analysis

Continuous Peripheral Nerve Block Catheter Market, by Indication (Upper Extremity Surgeries, Pain Management, Lower Extremity Surgeries, Trauma Cases, Other), by Product Type (Stimulating Catheter (Closed Tip Catheter Stimulating Catheter, Open Tip Catheter Stimulating Catheter), Non-Stimulating Catheter, ((Over-The-Needle Catheter), Closed Tip Catheter Non-Stimulating Catheter, Open Tip Catheter Non-Stimulating Catheter)), by End User, (Ambulatory Surgical Centers and Hospitals), by Insertion Technique (Nerve Stimulation and Ultrasound), and by Region (Africa, Latin America, Asia Pacific, North America, Europe, and Middle East)—Share, Outlook, Size, and Opportunity Analysis, 2022–2030

To manage post-surgical pain, a peripheral nerve block catheter and infusion pump are employed. This involves using an anesthetic to numb a specific area of the body, thus reducing pain. Nerve blocks are known to aid in faster patient recovery. To deliver the numbing medication around the nerves, a slender tube called a catheter is implanted beneath the skin after surgery, while an infusion pump automatically administers the medication.

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Impact of the COVID-19 Pandemic

The global market for natural biomaterials is anticipated to experience a setback in growth due to the COVID-19 pandemic, as a result of the complete lockdowns implemented to control the spread of the virus. For instance, in April 2020, over 90 countries and regions asked or mandated their citizens to remain at home, affecting more than 3.9 billion individuals globally. This had a detrimental effect on the transportation, manufacturing, and supply chain of natural biomaterials, ultimately leading to an adverse effect on the growth of the global natural biomaterials market.

The global market for continuous peripheral nerve block catheters is likely to be negatively impacted by the decline in joint surgeries during the COVID-19 pandemic. For example, the Canadian Institute for Health Information reported in its annual report for the Canadian Joint Replacement Registry (CJRR) in June 2022 that a significant number of planned joint surgeries were cancelled due to the pandemic. In the 2020–2021 period, 20% fewer hip and knee replacement surgeries were performed compared to the previous year.

According to projections, the global market for continuous peripheral nerve block catheters will be worth around US$ 536.2 million in 2022, and it is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 6.2% throughout the projected period of 2022 to 2030.

In order to enhance the development of their goods and services, market players engage in inorganic activities such as collaborations, which are anticipated to stimulate the growth of the continuous peripheral nerve block catheter market on a global scale during the projected timeframe.

During the projected period, the global market for continuous peripheral nerve block catheter is anticipated to grow as market players collaborate. An example of such collaboration is the partnership between B. Braun Medical Inc., a company specializing in infusion therapy and pain management, and Kerma Medical Products, Inc., a medical product manufacturer, in August 2020. The goal of their collaboration is to improve the development and delivery of healthcare goods and services, including nerve block catheters. The companies will collaborate on product development, strategic sourcing, diversity initiatives, co-marketing opportunities, and sustainable manufacturing.

During the projected timeframe, the global market for continuous peripheral nerve block catheter is anticipated to experience growth propelled by major participants engaging in inorganic activities, particularly acquisitions.

The anticipated growth of the global market for continuous peripheral nerve block catheter throughout the projected duration can be attributed to the growing incidence of acquisitions made by major players. One such example is the acquisition of Smiths Medical, a manufacturer of medical products and technologies, by ICU Medical Inc. on January 6, 2022. The acquisition aims to provide high-quality and innovative services to clinical customers globally. As a result of this union, ICU Medical is now able to enhance its competitiveness against larger competitors and offer a wider range of infusion therapy products and services, including peripheral IV catheters, syringe and ambulatory pumps, infusion pumps and software, which are highly sought-after by customers.

Restraints

The anticipated growth of the global market for continuous peripheral nerve block catheter is likely to be hindered by a rising incidence of product recalls throughout the projected timeframe. An example of this is the recall of multiple B. Braun Medical Inc. products, including catheter connectors, epidural catheter trays, nerve block sets, epidural sets, and epidural catheter sets, from the Canadian market in August 2018. The reason for the recall was due to a potential flaw in the connector, which could result in it not staying closed during use, leading to connector leakage or detachment in some instances.

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Regional Analysis

The global market for continuous peripheral nerve block catheters is divided into Africa, Latin America, Asia Pacific, North America, Europe, and the Middle East based on geographical regions.

During the projected period, the North American market for continuous peripheral nerve block catheters is anticipated to maintain a leading position among other regions. This is due to a rise in distribution agreements among channel partners. As an example, InfuSystem, a national healthcare service provider in the US, released on February 22, 2022 that they had entered into an agreement with Solo-Dex, a medical device company, to develop continuous peripheral nerve block catheters. InfuSystem and Solo-Dex are collaborating to develop innovations that cater to the acute pain management market. With Solo-Dex's developing technology, anesthesiologists can securely and easily place nerve block catheters, allowing more patients to receive medication through catheters and recover quickly without the need for oral drugs.

During the projected duration, the continuous peripheral nerve block catheter market is anticipated to experience significant growth in Europe, primarily due to the rising number of hip and knee surgeries. Notably, Health Statistics 2021 by the Organization for Economic Co-operation and Development (OECD) revealed that in 2019, Switzerland, Finland, Germany, Belgium, and Austria had a high number of knee and hip surgical procedures. On average, these countries reported 174 hip replacements per 100,000 people and 137 knee replacements per 100,000 people.

Prominent players

Major players, including Scilex Holding, Sarstedt, Vygon, Braun Melsungen AG, Pajunk GmbH, Epimed International Inc., Teleflex Incorporated, ACE Medical Devices Pvt. Ltd., Henan Tuoren Medical Device, Lepu Medical Technology Co., Ltd., ICU Medical, Inc., Accura Medizintechnik, Avanos Medical, Inc., Halyard Health, Inc., Ambu A/S, and Epimed, are operating in the global continuous peripheral nerve block catheter market.

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Table of Contents with Major Points:

Executive Summary

Market Overview

Key Insights

Qualitative Insights Impact of COVID-19 on Global Continuous Peripheral Nerve Block Catheter Market

Conclusion

Appendix

TOC Continued…!

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