Venous Access Device Manufacturing
Over the five years to 2018, revenue for the Venous Access Device Manufacturing industry has been slowly rising, bolstered by increasing physician visits and growing government and private spending on health. The rising number of physician visits can be attributed to favorable US demographics; the older the US population gets, the more likely they need to use industry products. Moreover, total health expenditure, which includes both private and government expenditure, is expected to trend upward during the five-year period, further lifting industry revenue. However, industry revenue was hindered early in the period as a result of physicians and hospitals attempting to reduce purchase costs in the wake of the Patient Protection and Affordable Care Act. Revenue slowly recovered as more consumers gained access to health insurance, thus raising demand for industry products. Over the five years to 2023, the Venous Access Device Manufacturing industry is expected to benefit from recent changes in Medicare and Medicaid reimbursements. Infections acquired during hospitalization no longer receive reimbursement, which has encouraged healthcare providers to adopt the use of higher-priced antimicrobial devices, especially when performing venous access procedures.
This industry manufactures venous access devices, such as peripherally inserted central catheters (PICCs), central venous catheters (CVCs), dialysis catheters, implantable ports and catheter securement devices. Medical professionals use these devices to access a patient’s bloodstream through the veins and deliver a variety of treatments including hydration, nutritional infusion, antibiotics, chemotherapy and dialysis.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.