Vascular Access Devices Market to Reach US$ 10,142.1 Million by 2027: TMR Study

Posted on 2024-03-26 by Transparency Market Research in Healthcare // 0 Comments

Wilmington, Delaware, United States, 2024-Mar-26 — /EPR Network/ — Transparency Market Research Inc. –

Transparency Market Research’s most recent report on the global vascular access devices market, covering the historical period of 2017–2018 and forecasting until 2027, highlights several key factors expected to propel market growth. The rise in lifestyle diseases, increasing incidences of target diseases, and ongoing technological innovations are identified as primary drivers for the global vascular access devices market during the forecast period.

The report indicates that the global vascular access devices market attained a value of US$ 6,077.2 million in 2018. It further predicts a steady expansion at a compound annual growth rate (CAGR) of 5.8% to reach US$ 10,142.1 Mn from 2019 to 2027, underscoring the market’s robust potential for growth and development.

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Millions of hospital patients undergo peripheral intravenous catheter procedures, utilizing both short-term and long-term venous access devices (VADs) for venous system access. Key products include peripherally inserted central catheters, implantable ports, and tunnel catheters.

In the vascular access devices (VAD) market, advancements in biocompatibility, flexibility, and novel materials adoption are driving demand dynamics. Recent years have seen remarkable advancements in catheter distal tips, facilitating complex surgeries and improving patient survival and quality of life.

Manufacturers in the vascular access devices market are focusing on long-term VADs to drive revenue growth, capitalizing on improved understanding of VAD-related infections. Technological advancements in designs and materials are aiding healthcare workers in overcoming VAD infection and occlusion complications.

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.

Key players:

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 – 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

Market Trends:

Emerging trends in the vascular access devices market include the development of antimicrobial-coated catheters to reduce infection rates, the integration of wireless technology for remote monitoring of catheter function, and the growing adoption of ultrasound-guided vascular access procedures for improved accuracy and safety.

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Key Developments:

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.

Future Outlook:

The future of the vascular access devices market looks promising, with continued innovation in product development, increasing adoption of advanced technologies, and a focus on improving patient outcomes. However, market players need to address challenges related to product safety, regulatory compliance, and healthcare reimbursement to capitalize on growth opportunities effectively.

Key Market Study Points:

Market size and forecast analysis
Competitive landscape assessment
Regulatory landscape analysis
Technological advancements and product innovations
Customer preferences and buying behavior analysis

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About Transparency Market Research

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