Vascular Access Device Market by Type (Peripheral (Midline, Short), Central (PICC, Tunneled, Non-Tunneled, Implanted Ports), Accessories), Application (Drug Administration, Fluid & Nutrition Administration) & End Users - Global Forecasts to 2022
“Vascular access devices market is projected to grow at a CAGR of 7.1%”
The global vascular access device market is estimated to grow at a CAGR of 7.1% to reach USD 5.45 billion by 2022 from USD 3.87 billion in 2017. The key factors driving the growth of this market include the growing prevalence of lifestyle diseases, an increase in the number of chemotherapy procedures and the increasing use of vascular access devices in pediatric patients. However, high costs involved in the placement and maintenance of vascular access devices and product recalls and failures may hinder the growth of the market to a certain extent during the forecast period.
“The central vascular access device segment to dominate the global vascular access devices market during the forecast period”
By type, the vascular access devices market is segmented into central vascular access devices, peripheral vascular access devices, and accessories. The central vascular access devices segment is not only expected to account for the largest share of the vascular access devices market in 2017, but also grow at the highest CAGR during the forecast period. The growth of this segment is attributed to the wide usage of central vascular access devices in chemotherapy and for the treatment of cardiovascular disorders and chronic kidney disorders.
“The drug administration segment is projected to grow at the highest CAGR during the forecast period”
On the basis of application, the vascular access devices market is segmented into drug administration, fluid and nutrition administration, blood transfusion, and diagnostics & testing. The drug administration segment is expected to grow at the highest CAGR in 2017. This positive growth rate can primarily be attributed to the high usage of vascular access devices for drug administration for the treatment of infections, cancer, and other diseases.
“Asia-Pacific to witness the highest growth during the forecast period (2017-2022)”
North America held the largest share of the global vascular access devices market in 2016, while Asia-Pacific is expected to witness the highest growth during 2017 to 2022. Rapid growth in aging population and CKD, CKS, & diabetes prevalence, along with healthcare reforms and investments in Asia-Pacific countries, are key factors driving the market for this geographic segment.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1–55%, Tier 2–25% and Tier 3–20%
• By Designation – C-level–43%, Director Level–32%, Others–25%
• By Region – North America–38%, Europe–23%, Asia-Pacific–29%, RoW–10%
Some of the major players include Becton Dickinson and Company (U.S.), Smiths Medical, Inc. (U.K.), and C. R. Bard, Inc. (U.S.). Other players include Teleflex Incorporated (U.S.) B. Braun Melsungen Ag (Germany), AngioDynamics (U.S.), Terumo Corporation (Japan), Nipro Medical Corporation, Edwards Lifesciences Corporation (U.S.), Ameco Medical (Egypt), Romsons Scientific & Surgical Pvt. Ltd (India), and Prodimed (France).
The report analyzes the vascular access device market and aims at estimating the market size and future growth potential of this market based on various segments such as type, application, end user and region. The report also includes an in-depth regulatory analysis for various regions across the globe and the competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.
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The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn, would help them garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on product and service portfolios offered by the top players in the global vascular access devices market. The report analyzes the vascular access devices market by type, application, end user, and region.
• Service Enhancement/Innovation: Detailed insights on upcoming trends and new service launches in the global vascular access devices market.
• Market Development: Comprehensive information about the lucrative emerging markets by type, application, end user, and region.
• Market Diversification: Exhaustive information about new services or service enhancements, growing geographies, recent developments, and investments in the vascular access devices market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products and services of leading players in the global vascular access devices market