Catheter Stabilization Device are extensively used by hospitals, home healthcare providers and emergency clinics to secure the tubes inserted into the patient’s body. The adoption rate for these products is very high and is expected to increase in future. The use of securement devices market will be boosted by the increasing healthcare expenditure, growing aging population, increasing prevalence of lifestyle diseases, and increasing demand for minimally invasive surgeries.

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Catheter Stabilization Device Market is an advanced products-driven market which is in turn driven by increasing healthcare expenditure. According to estimates from the World Bank, global healthcare spending increased at a CAGR of 7.45% from 2003 to 2012, from $3,829 billion in 2003 to $7,310 billion in 2012. In the same period, the global public healthcare spending increased from $2,207 billion in 2003 to $4,352 billion in 2012, at a CAGR of 7.84%.

Asia is expected to grow at a faster rate than any other region. The growth rates of healthcare expenditures in Asia and RoW between 2003 and 2012 was 11.57% and 14.57%, respectively. Rapid growth in healthcare expenditure in these emerging geographies presents an important growth opportunity for catheter stabilization device market. Furthermore, the increasing burden of diseases, coupled with higher population in these geographic segments, is an important consideration for higher growth expectations in these regions. Also, the growth of the number of hospitals in these regions offers important growth opportunities for securement devices manufacturers.

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According to the OECD, The middle-class population in the Asia-Pacific region is expected to increase to 54% by 2020 from 28% in 2009. The purchasing power of the growing middle class is expected to increase to 42% by 2020 from 23% in 2009.

The demand for medical products in emerging Asian nations such as China and India is growing at a robust rate compared to developed countries. The medical instrument business in emerging countries is growing rapidly due to the expansion of the private healthcare sector to accommodate the needs of the growing middle-class population. With rising disposable incomes and increasing access to medical treatments are expected to drive the demand for securement devices in the Asia.

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