Vascular Access Device Market is Expected to Reach $7.9 Billion

Jul 30, 2023

Chicago, Aug. 07, 2023 (GLOBE NEWSWIRE) -- In the near future, the Vascular Access Device (VAD) industry is poised for remarkable advancements and transformative changes, driven by cutting-edge technologies and a growing demand for improved healthcare solutions. With ongoing research and development, innovative VADs are likely to emerge, boasting enhanced biocompatibility, reduced risk of infections, and extended lifespans. Nanotechnology and biocompatible materials will revolutionize device design, allowing for better integration with the human body and minimizing complications. Additionally, smart VADs equipped with sensor technology will enable real-time monitoring and data analysis, empowering healthcare professionals to make informed decisions promptly. These advancements will not only enhance patient outcomes but also streamline healthcare delivery, positioning the VAD industry at the forefront of medical innovation in the coming years.

Vascular Access Device market in terms of revenue was estimated to be worth $5.6 Billion in 2023 and is poised to reach $7.9 Billion by 2028, growing at a CAGR of 7.0% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. Growth in this market is majorly driven by growing number of chemotherapy procedures, and growing use of vascular access device in pediatric patients.However, product recalls and failures are expected to restrain market growth to a certain extent.

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Vascular Access Device Market Scope:

Report Coverage

Details

Market Revenue in 2023

$5.6 Billion

Estimated Value by 2028

$7.9 Billion

Growth Rate

Poised to grow at a CAGR of 7.0%

Market Size Available for

2021–2028

Forecast Period

2023–2028

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Type, Application, and End User

Geographies Covered

North America, Europe, Asia Pacific, and Rest of the World

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Technological advancements

Key Market Drivers

Growing prevalence of lifestyle diseases

Vascular Access Device market major players covered in the report, such as:

Becton, Dickinson and Company (US)

ICU Medical, Inc. (US)

Teleflex Incorporated (US)

B. Braun SE (Germany)

AngioDynamics, Inc. (US)

Terumo Corporation (Japan)

Nipro Medical Corporation (Japan)

Medtronic (Ireland)

Amecath (Egypt)

Romsons (India)

PRODIMED (France)

Cook Medical (US)

Access Vascular, Inc. (US)

Medical Components, Inc. (US)

Vygon (France)

3M (US)

Argon Medical Devices (US)

Guangdong Baihe Medical Technology Co., Ltd. (China)

pfm medical (Germany)

Medi-Tech Devices Pvt Ltd (India)

Medline Industries, LP (US)

Kimal (UK)

Deltamed (Italy)

Newtech Medical Devices (India)

Shanghai Puyi Medical Instruments Co., Ltd (China)

and Among Others

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The study categories the vascular access device Market based on type , application, end user, and regional and global level.

Global Vascular Access device Market, by Type

Central vascular access device

Tunneled catheters

Non-tunneled catheters

Implanted ports

Peripherally inserted central catheters

Peripheral vascular access device

Peripheral midlines devices

Peripheral short devices

Butterfly/winged steel needles

Accessories

Global Vascular Access device Market, by Application

Drug administration

Fluid and nutrition administration

Blood transfusion

Diagnostics and testing

Global Vascular Access device Market, by End-User

Hospital

Clinics and ambulatory care centers

Other end users (home healthcare agencies, nursing homes, and diagnostic & imaging centers)

Global Vascular Access device Market, by region

North America

US

Canada

Europe

France

Spain

UK

Italy

Germany

Rest of Europe

Asia Pacific

China

India

Japan

Rest of APAC

Rest of the World

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The key stakeholders in the Vascular Access Device market include:

Senior Management

Vascular access device manufacturers and distributors

Operations Department

Research and consulting firms

Recent Developments:

In June 2023, Teleflex Incorporated (US) has been awarded two group purchasing agreements with Premier, Inc. The new agreements allow Premier members, at their discretion, to take advantage of special pricing and terms pre-negotiated by Premier for Teleflex’s Central Venous and Arterial Vascular Access products.

In June 2022, Teleflex Incorporated (US) launched an Arrow Pressure Injectable Midline Catheter in Australia and New Zealand. The addition of the pressure injectable catheter further enhances the Midline portfolio to meet the expanded needs of clinicians and is designed to improve patient safety.

In January 2022, ICU Medical, Inc. (US) completed its acquisition of Smiths Medical (US) from Smiths Group plc. The Smiths Medical business includes syringe and ambulatory infusion devices, vascular access, and vital care products. When combined with ICU Medical’s existing businesses, the combined companies establish a leading infusion therapy company with estimated pro forma combined revenues of approximately USD 2.5 billion.

In July 2021, Becton, Dickinson and Company (US) acquired Velano Vascular (US). Velano Vascular needle-free technology enables high-quality blood draws from existing peripheral intravenous catheter (PIVC) lines. This acquisition can now enable health care providers to help eliminate multiple needlesticks for blood sample collection, reducing the pain and discomfort from the process while delivering quality outcomes and increased patient satisfaction.

Frequently Asked Questions (FAQs) of Vascular Access Device Market:

Which are the top industry players in the global vascular access device market?Ans. The top market players in the global vascular access device market include The prominent players in this market are Becton, Dickinson and Company (US), ICU Medical, Inc. (US), Teleflex Incorporated (US), B. Braun SE (Germany), AngioDynamics, Inc. (US), Terumo Corporation (Japan), Nipro Medical Corporation (Japan), Medtronic (Ireland), Amecath (Egypt),Romsons (India), PRODIMED (France),Cook Medical (US), Access Vascular, Inc. (US), Medical Components, Inc. (US), Vygon (France), 3M (US), Argon Medical Devices (US), Guangdong Baihe Medical Technology Co., Ltd. (China), pfm medical (Germany), Medi-Tech Devices Pvt Ltd (India), Medline Industries, LP (US), Kimal (UK), Deltamed (Italy), Newtech Medical Devices (India) and Shanghai Puyi Medical Instruments Co., Ltd (China).

What are some of the major drivers for this market?Ans. Growth in the vascular access device market can primarily be attributed to factors such as the growing prevalence of lifestyle diseases, increasing number of chemotherapy procedures, and growing use of vascular access device in pediatric patients.

Which global vascular access device have been included in this report?Ans. This report contains the following segments:

Type

Application

End User

Which end users have been included in the global vascular access device market?Ans. This report contains the following end-user’s segments:

Hospitals

Clinics & ambulatory centers

Other end users (nursing homes, laboratories, diagnostic & imaging centers, and home healthcare agencies).

Which geographical region is the second largest market in the global vascular access device market?Ans. The global vascular access device market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Europe is the second largest market for vascular access device market.

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Report Objectives:

To define, describe, segment, and forecast the vascular access device market by type, application, end user, and region

To provide detailed information about the factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)

To analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall vascular access device market

To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players

To estimate and forecast the size of the vascular access device market in four main regions (along with their respective key countries), namely, North America, Europe, the Asia Pacific, and Rest of the World.

To profile the key players and analyze their market shares and core competencies3

To track and analyze competitive developments such as product launches, agreements, partnership, and acquisitions in the global vascular access device market

To benchmark players within the vascular access device market using the competitive leadership mapping framework, which analyzes market players on various parameters within the broad categories of business strategy, market share, and product offering.

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