According to the latest vascular access device market analysis by iData Research, there are over 2.7 million peripherally inserted central catheter (PICC) insertion procedures performed each year in the United States. The overall US vascular access market was valued at $4.8 billion by 2020 and is expected to reach $5.7 billion in 2026.
PICC insertions were one of the foundational procedures performed in vascular access in 2019. Though the devices make up only a small fraction of the total insertion procedures, their relatively high cost makes the segment a large portion of the total market.
PICC Market Trends
Tip-location technology is a significant factor contributing to the strength of the overall PICC market. It allows clinicians to confirm that the tip of the PICC line is correctly placed in the patient’s superior vena cava. Not only does this save hospitals time and money by eliminating the need for a confirmatory X-rays, but it also leads to safer and faster PICC insertions.
The rising demand for tip-location technologies also benefits the key competitors in this space. Companies, such as Becton Dickinson (BD) and Teleflex, are not only able to generate increased revenue from the sale of their tip-location systems but also charge a higher cost for the compatible PICC products. BD’s Sherlock 3CG® tip confirmation system and Teleflex’s Arrow® VPS G4 device are the key products experiencing a noticeable increase in demand.
In the US, PICCs are usually sold in kits with tip-location disposables. However, the selling prices of these kits end up being more expensive to hospitals. This significant driving factor has allowed PICCs to form such a large fraction of the total vascular access device market.
PICC Market Positioning
In spite of that, PICCs do face competition from other product areas. For instance, Central venous catheters (CVCs) present an alternative option with a similar dwell time while also terminating in the patient’s heart.
Unlike PICCs, a CVC is inserted centrally and often in the patient’s jugular, which allows them to have higher flow rates. However, CVCs have been shown to lead to higher rates of infection and catheter-related complications. This factor has been a key driver in the vascular access market in recent years and has supported the surge of PICCs.
PICCs also face competition from midline catheters. Midlines are also inserted peripherally into a patient’s lower arm, but the distal tip of the device terminates earlier, usually in a patient’s upper arm. Midlines have been growing in popularity recently since they offer a lower-cost alternative to a PICC when intermediate dwell times are required (7-10 days).
Without using a midline, clinicians would either have to insert multiple peripheral intravenous catheters (PIVCs) or use a costly PICC for short dwell time. Midlines are one of the fastest-growing segments within vascular access and will likely cannibalize PICC market share to some degree. However, PICCs are still expected to remain a notable portion of the total market.
PICC Insertion Procedure Forecast
PICC insertions comprise less than 2% of the total vascular access procedures performed each year. However, they are also an integral component of the vascular access market’s infrastructure. The devices are high-cost long-dwelling catheters that support increased sales in other market segments, such as accessories and capital equipment.
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Despite competition from other devices, PICC lines are expected to remain an integral component of the vascular access market. The latest market analysis indicates that the PICC line insertion procedures will grow at a moderate growth rate of 0.4% to reach 2.8 million procedures by 2026.