The Vascular Access Devices Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Vascular Access Devices Global Market Report 2024, The vascular access devices market size has grown strongly in recent years. It will grow from $5.3 billion in 2023 to $5.74 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to rising chronic diseases, aging population, healthcare infrastructure growth, increasing surgical procedures, awareness and training.
The vascular access devices market size is expected to see strong growth in the next few years. It will grow to $7.48 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to advancements in material science, rise in ambulatory care, globalization of healthcare, telemedicine and remote, focus on infection control. Major trends in the forecast period include focus on infection prevention and antimicrobial technologies, surge in demand for specialty vascular access devices, emphasis on training and education for healthcare professionals, collaborative efforts for product development and market expansion..
The growing prevalence of lifestyle diseases is expected to propel the growth of the vascular access devices market going forward. Lifestyle diseases, also known as non-communicable diseases (NCDs) or chronic diseases, are a group of health conditions that are primarily caused by unhealthy lifestyle choices and behaviors rather than infectious agents. These diseases often require ongoing treatment and care, making vascular access devices essential for the safe and effective delivery of medications and therapies. For instance, in September 2022, according to the World Health Organization, a Switzerland-based intergovernmental organization, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases every year globally. There were 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Therefore, the growing prevalence of lifestyle diseases is driving the growth of the vascular access devices market.
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The vascular access devices market covered in this report is segmented –
1) By Device Type: Central Vascular Access Devices, Peripheral Vascular Access Devices
2) By Application: Drug Administration, Fluid And Nutrition Administration, Blood Transfusion, Diagnostics And Testing
3) By End User: Hospitals, Clinics, Ambulatory Care Centers, Other End Users
Major companies operating in the vascular access devices market are increasing their focus on developing more efficient devices using advanced technologies such as TipTracker technology to gain a competitive edge in the market. The TipTracker Technology provides real-time visual navigation, tracing the catheter pathway on a color screen, and helps confirm final tip placement. For instance, in May 2023, Teleflex Incorporated, a US-based producer of medical devices, launched two new devices VPS Rhythm and DLX Device. This incorporates TipTracker technology, which eliminates the need for confirmatory X-rays, streamlining the peripherally inserted central catheter (PICC) insertion process. Additionally, this ensures enhanced PICC advancement into the superior vena cava (SVC) for successful insertion. The launch of the VPS Rhythm and DLX Device adds value by improving patient care, expanding treatment options, enhancing efficiency, and contributing to medical advancements.
The vascular access devices market report table of contents includes:
- Executive Summary
- Vascular Access Devices Market Characteristics
- Vascular Access Devices Market Trends And Strategies
- Vascular Access Devices Market – Macro Economic Scenario
- Global Vascular Access Devices Market Size and Growth
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- Global Vascular Access Devices Market Competitive Benchmarking
- Global Vascular Access Devices Market Competitive Dashboard
- Key Mergers And Acquisitions In Vascular Access Devices Market
- Vascular Access Devices Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Medtronic PLC
- Siemens Healthineers
- Fresenius Medical Care AG & Co. KGaA
- Becton Dickinson and Company (BD)
- Baxter International Inc.
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