Disinfection Cap Market Forecasts US$ 585.1 Million Valuation and a 4.5% CAGR by 2034 | Future Market Insights, Inc.
NEWARK, Del, Jan. 02, 2024 (GLOBE NEWSWIRE) -- The global disinfection cap market value is expected to rise from US$ 376.8 million in 2024 to US$ 585.1 million by 2034. This estimated growth is expected to be driven by an average CAGR of 4.5% in the disinfection cap market over the next decade.
The growing popularity of minimally invasive procedures like percutaneous coronary intervention and laparoscopic surgery is pushing product sales. This is because disinfection caps effectively lower the risk of Hospital-acquired Infections (HAIs) and provide a sterile connection between the patient's skin and catheter.
Healthcare regulations across the globe are strongly emphasizing the value of infection prevention and control (IPC). As a result, stringent guidelines have emerged for the use of disinfection caps. With strict guidelines, the opportunity to innovate also surfaces for manufacturers. Key players are focusing on enhancing their portfolio and presenting updated and qualified disinfection caps that meet current requirements.
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Disinfection caps are further rising to reduce the risk of expensive and widespread central line-associated bloodstream infection (CLABSI). Players are thus launching products to help clinicians protect the vascular catheter of every patient, from insertion to removal. These developments focus on time efficiency, reliable and consistent disinfection, and robust contamination protection.
Geographically, key players are expected to realign their focus on Asian countries to capture the emerging opportunities in these countries. North America continues to be a significant market for disinfection caps through the forecast period.
“Players are projected to provide evidence-based disinfection solutions to ensure patient safety and decrease costly complications. Growing demand for improved patient outcomes and, consequently, reduced care delivery costs are expected to boost the uptake of disinfection caps. Furthermore, increasing CAGR for disinfection caps suggests expanding growth potential for these solutions over the next ten years,”. Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights (FMI)
Key Takeaways from the Disinfection Cap Market Report
- The United States is projected to expand at a CAGR of 4.1% through 2034, whereas Germany is projected to register a CAGR of 3.6% through 2034.
- China and India are anticipated to rise at CAGRs of 5.5% and 4.9%, respectively, through 2034.
- Australia is expected to record a CAGR of 4.6% through 2034.
- Based on end use, the hospital segment is anticipated to acquire a share of 38.80% in 2024.
- Based on the distribution channel, the non-retail segment is forecast to occupy 63.80% in 2024.
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Top Players in the Disinfection Cap Market
- 3M Company
- Becton Dickinson and Company
- ICU Medical Inc.
- B. Braun Melsungen AG
- Baxter International Inc.
- Others
Market Players Ensuring Future Growth by Taking Keen Steps Toward Innovation
Key players in the disinfection cap market are taking strategic actions to increase their operational effectiveness and boost innovations for patients. Thus driving value for shareholders. Additionally, competitors are raising their manufacturing footprint to tap emerging demand and opportunities. Actions related to portfolio expansion are also projected to appreciate the market value of the disinfection cap.
In pursuing long-term success, players are projected to acquire smaller companies with extensive experience in this industry. Additionally, they are expected to partner with other companies or distributors to accelerate their robustness in the global market. New launches in the market are expected to drive growth. For instance, in May 2023, BD extended availability for PosiFlush SafeScrub prefilled syringes. The product is intended to assist healthcare staff in adhering to infection prevention guidelines.
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Key Segments in the Global Disinfection Cap Market Report
By Type:
- Double Caps System
- Single Cap System
By Application:
- Blood Collection
- Blood Transfusion
- Infusion
By Distribution Channel:
- Retail
- Non-retail
By End Use:
- Hospitals
- Clinics
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
Authored by:
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments about Consumer Retail Goods.
Her work primarily focuses on facilitating strategic decisions, planning and managing cross-functional business operations technology projects, and driving successful implementations. She has helped create insightful, relevant analyses of Food and beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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