Disinfection Cap Market Worth $397.9 Million By 2027 | CAGR: 3.7% | Grand View Research, Inc.

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Disinfection Cap Market Worth $397.9 Million By 2027 | CAGR: 3.7% | Grand View Research, Inc.

July 18
14:10 2020
Disinfection Cap Market Worth $397.9 Million By 2027 | CAGR: 3.7% | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc., The global disinfection cap market size was valued at USD 298.3 million in 2019 and is expected to witness a CAGR of 3.7% over the forecast period. The demand for disinfection caps is increasing owing to the technological advancements, stringent regulations for safe injection practices, and rising prevalence of hospital acquired infections across the globe.

The global disinfection caps market is anticipated to be worth USD 397.9 million by the year 2027, advancing at a CAGR of 3.7% during this period, according to a recent report by Grand View Research Inc. Disinfection caps are necessary in medical and healthcare settings for maintaining proper hygiene and sanitation in these places, by protecting, covering and disinfecting IV connectors, also called hubs, ports and valves, as well as eliminating bacteria along with other harmful microorganisms. They clean the used catheter hub, which is left inside the cap while the hub is idle. This creates a chemical and physical barrier between the connector and potential contaminants, thus keeping it clean. Recommendations sponsored by the Society for Healthcare Epidemiology of America (SHEA) and other top infection-control organizations in 2014 recognized the use of disinfection caps for hospitals, which has had a healthy impact on the industry growth in recent years, as many new and established competitors have jumped on board for the product development.

The rising demand for sanitizing and disinfecting, as a preventive measure for Covid-19, has resulted in the changing dynamics of these market spaces. Various antimicrobial products are being stockpiled as regular household goods. We are working to account for this surge in our estimates. The updated report will account for Covid-19 as a key market contributor. We are working to account for this surge in our estimates. The updated report will account for Covid-19 as a key market contributor.

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An article published in the Today’s Dietitian magazine in 2019 stated that around 34,000 patients in the US receive parenteral nutrition each year. Growing prevalence of illnesses such as cancer has subsequently driven the use of parenteral nutrition across the world, which involves administration of vital nutrients through IV connectors. With the WHO stating that 8.2 million deaths occur due to cancer each year, and the number set to increase by 70% by 2040, it is expected that parenteral nutrition will witness sustained growth, thus positively impacting the use of IV connectors. These connectors are decontaminated using disinfection caps, which is expected to drive the industry growth in coming years.

The market has been segmented on the basis of distributors, end-use and region. In terms of distributors, the market consists of the retail and non-retail channel segments. The non-retail segment led the market in 2019, with hospitals and clinics engaged in long-term partnerships with manufacturers. The segment is also expected to show rapid growth in the coming years, as healthcare establishments look to strengthen their network to offer quality service to their patients. In terms of end-use, the market is segmented into hospitals, clinics and others. Hospitals account for almost half of the industry share, on account of the increasing prevalence of HAIs in both developed and developing regions, along with the strengthening of healthcare infrastructure in recent years. The outbreak of COVID-19 also has created a strain on hospital resources in terms of patient admissions, which increases the risk of nosocomial infections, which is a potential market driver for disinfection caps.

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Trends and Developments:

North America and Asia Pacific are anticipated to account for the majority of the disinfection caps market in the coming years, with a combination of technology, partnerships and mergers, as well as the rising incidences of infectious and chronic diseases such as cancer, cholera and typhoid in these regions. The US sees a large number of HAI incidences, which is instrumental in driving the regional market growth. Another factor influencing market growth is the increasing number of patients opting for home healthcare, driving the retail segment.

3M’s Curos disinfecting cap was involved in a study in 2019 in Pediatric Hematology-Oncology and HSCT patients in Saudi Arabia to study the product impact in reduction of CLABSIs (central line-associated bloodstream infection) in these patients. The study returned positive results, showing that disinfectant port protector caps contributed to lower CLABSI rates, while also improving nurse compliance to cap use.

A study by researchers at St. Louis’ Mercy Hospital found that implementing a PIV maintenance bundle using disinfecting caps and tips helped decrease the incidence of primary blood stream infections from 0.57 to 0.11 per 1,000 patient days. The research involved 3M’s Curos disinfecting cap, which provide passive disinfection and act as a physical barrier to contamination for the most common needleless connectors. The product contains 70% isopropyl alcohol that takes less than a minute to carry out disinfections. This highlights the importance of disinfecting caps in improving patient outcomes and efficiency of doctors and nurses.

The market has strengthened its positioning in recent years with the occurrence of various mergers and acquisitions. For instance, in November 2019, ICU Medical entered into a definitive agreement to acquire Pursuit Vascular, Inc., which specializes in innovative catheter disinfecting products and technologies to reduce costly bloodstream infections and lower healthcare costs, with their main product being the ClearGuard® HD cap, used to maintain hemodialysis catheters. ICU Medical plans to add the product to existing domestic and international channels, focusing on both acute and non-acute care settings, once the acquisition is complete.

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Grand View Research has segmented the global disinfection cap market report on the basis of distributors, end use, and region:

Disinfection Caps Distributors Outlook (Revenue, USD Million, 2016 – 2027)

  • Retail
  • Non-retail

Disinfection Caps End-use Outlook (Revenue, USD Million, 2016 – 2027)

  • Hospitals
  • Clinics
  • Others

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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Website: https://www.grandviewresearch.com/industry-analysis/disinfection-cap-market

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