The global vascular access devices market was valued at US$ 6,077.2 Mn in 2022 and is anticipated to expand at a CAGR of 5.8% from 2022 to 2030.
The global vascular access devices market was valued at US$ 6,077.2 Mn in 2022 and is anticipated to expand at a CAGR of 5.8% from 2022 to 2030
Advancements in Vascular Access Devices Market – Overview
Millions of patients routinely visit hospitals for peripheral intravenous catheter procedures. Both short-term and long-term venous access devices (VADs) are used to access the venous system. Some of the key products are peripherally inserted central catheters, implantable ports, and tunnel catheters.
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Advancements in biocompatibility, flexibility, and the adoption of novel materials are shaping the demand dynamics in the vascular access devices (VAD) market. Catheter distal tips have also undergone some spectacular advancements in recent years, enabling VAD specialists to plan and executive complex surgeries. The application of VAD has eventually improved patient survival and to boost quality of life.
Players in the vascular access devices market are keenly looking to garner new revenue gains from long-term VADs. Manufacturers have benefitted from the growing understanding of the etiology of VAD-related infections. Technological advancements especially pertaining to designs and materials have enabled healthcare workers to overcome complex VAD infection and occlusion complications. The factor is bolstering the prospects of new technologies in the vascular access devices market.
Catheter malposition is another major concern that has hampered the clinical outcomes of the vascular access devices market. Advancements in catheter tips have helped end users to address these concerns. The growing incidence of diagnosis VAD-related infection is a key trend that has empowered healthcare workers and clinicians to adopt the correct strategy in managing VAD-related infections, and plan out apt treatment.
Most commonly, oral or IV antibiotics are used in treating local infections. Further, an elaborate tip placement evaluation have helped chart new revenue sources for manufacturers in the vascular access devices market. The trend is highly relevant in oncology.
Another area that has opened a new avenue in the vascular access devices market is pediatrics. The pediatrics has enabled the proper selection and insertion of vascular access devices in pediatrics.
The global vascular access devices market for the historical period 2017–2018 and forecast period 2019–2027, Increase in number of lifestyle diseases, Increase in incidences of target diseases, and technological innovations are projected to drive the global vascular access devices market during the forecast period
Increase in number of Lifestyle Diseases: Key Drivers
Unhealthy lifestyle and diet, lack of exercise are some of the factors responsible for increasing incidences of lifestyle diseases such as diabetes, blood pressure and obesity.
According to International Diabetes Federation (IDF), in 2014, around 338 Mn people were diagnosed with diabetes, and according to WHO, in 2014, around 1.9 Bn adult population, was obese or overweight.
Thus, increasing incidences of lifestyle diseases propels the need for hospitalization, thereby, driving the demand for vascular access devices market.
Increase in Incidences of Target diseases to Boost Market Growth
Cancer is one of the leading cause for rising demand of vascular access devices globally. In 2014, U.S. alone had an estimated 1.6 million new cancer cases.
According to WHO, in 2013, there were an estimated 14.8 Mn. new cancer cases worldwide.
Rising number of cancer cases increases the demand for central venous catheters, and new totally implantable ports, for administration of chemotherapy medications.
Catheter Associated Risks to Hamper Market Growth
Peripheral catheters, despite their wide use, can lead to local and systemic complications, which are rarely severe and can be observed early by objective assessment. These complications include hematoma, occlusion, phlebitis, thrombophlebitis, infiltration, leakage and local infection.
Superficial thrombophlebitis due to peripheral catheters is generally self-limited once the catheter is removed.
Thrombosis involving the deep veins (i.e., subclavian, axillary, brachial) can lead to pulmonary embolism (PE) and long-term sequelae in spite of adequate therapy. Pulmonary embolism from upper extremity sources accounts for about 6 percent of cases. PE causes or contributes to up to 200,000 deaths annually in the United States.
NCBI statistics, use of non-tunnelled catheters, are most associated with CRBSI’s, with prevalence at around 22.5%
Catheter Associated Urinary Tract Infections (CAUTI) have high prevalence among other infections, associated with catheter usage.
Global Vascular Access Devices Market: Competitive Landscape
This report profiles major players in the global vascular access devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global vascular access devices market is fragmented, with the large number of players operating in the global market.
Key players operating in the global vascular access devices market includes
- B. Braun Melsungen AG
- Baxter International
- Becton
- Dickinson and Company
- Cook Medical
- Medtronic plc
- W. L. Gore & Associates, Inc.
- Teleflex, Inc.
- Siemens Healthineers
- Nipro Medical Corporation
- Fresenius Medical Care.
Global Vascular Access Devices Market: Key Developments
Key players in the global vascular access devices market are engaged in development of technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global vascular access devices market. A few expansion strategies adopted by players operating in the global vascular access devices market are:
In September 2016, Fresenius Medical Care acquired dialysis service provider Sandor Nephro Services in India.
In June 2016 Fresenius Medical Care Opens First Community-based Vascular Access Service in Singapore for patients with chronic kidney disease.
In January 2016 C.R. Bard acquired Liberator Medical Holdings Inc., a direct-to-consumer distributor of durable medical equipment, especially for self-catheterization.
In November 2015 B. Braun Launched Ster-ASSIST, Sterile Peripheral IV Catheter Insertion Kit.
In July 2015 C.R. Bard acquired vascular pathways, Inc., a developer and supplier of vascular access devices.
The report on the global vascular access devices market discussed individual strategies, followed by company profiles of developer and provider of vascular access devices. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global vascular access devices market.
Key Questions Answered in Global Vascular Access Devices Market Report
- What is the scope of growth of product companies in the global vascular access devices market?
- What will be the Y-o-Y growth of the global vascular access devices market between 2019 and 2027?
- What is the influence of changing trends in technologies on the global vascular access devices market?
- Will North America continue to be the most profitable market for vascular access devices providers?
- Which factors are anticipated to hamper the growth of the global vascular access devices market during the forecast period?
- Which are the leading companies in the global vascular access devices market?
Global Vascular Access Devices Market – Segmentation
Product
- PeripheralCatheters
- PIVC
- MidlineCatheters
- CentralCatheters
- PICC
- CentralVenousCatheters
- DialysisCatheters
- ImplantablePorts
- Accessories
Application
- Medication Administration
- Administration of Fluid and Nutrition
- Transfusion of Blood Products
- Diagnostic Testing
Route of Administration
- Subcutaneous
- Intavenous
End-user
- Hospitals
- Clinics
- Ambulatory Surgery Centers
- Diagnostic Laboratories
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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