What Has Been the Growth of the Vascular Access Devices Market So Far?
The vascular access devices market has seen considerable growth due to a variety of factors.
• The market size for vascular access devices has seen substantial growth in the past few years. The market is expected to expand from $5.74 billion in 2024 to $6.16 billion in 2025, with a compound annual growth rate (CAGR) of 7.2%.
This development in the past can be credited to the increasing number of chronic diseases, an aging population, improved healthcare infrastructure, a rise in surgical processes, and enhanced awareness and training.
What Is the Forecasted Market Size and Growth Rate for The Vascular Access Devices Market Size In The Coming Years?
The vascular access devices market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for vascular access devices is projected to expand robustly in the coming years, hitting $7.96 billion in 2029, demonstrating a compound annual growth rate (CAGR) of 6.6%.
The growth predicted for this period is due to a number of factors including progress in material science, an increase in ambulatory care, the worldwide outreach of healthcare, telemedicine and remote control, with a particular focus on infection control. The major trends expected for this period primarily include attention towards the prevention of infections and the development of antimicrobial technologies, a rising demand for specialist vascular access devices, a focus on training and educating healthcare professionals, and cooperative efforts for the development of products and market growth.
What Factors Are Driving Growth In The Vascular Access Devices Market?
The escalating incidence of lifestyle-related diseases is projected to accelerate the expansion of the vascular access devices market. These non-infectious health conditions, also known as chronic or non-communicable diseases (NCDs), mainly result from unhealthy lifestyle habits and choices. Given that these diseases often necessitate continuous treatment and care, vascular access devices become indispensable for the secure and effective administration of medications and therapies. For example, the World Health Organization, an intergovernmental organization based in Switzerland, reported in September 2022 that there were 41 million fatalities worldwide, accounting for 74% of all deaths annually due to NCDs or chronic diseases. This included 17.9 million deaths from cardiovascular diseases, 9.3 million due to cancer, 4.1 million related to chronic respiratory diseases, and 2.0 million from diabetes. As a result, the surging incidence of lifestyle diseases is fuelling the growth of the vascular access devices market.
What Are The Main Segments Of The Global Vascular Access Devices Market?
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
Subsegments:
1) By Central Vascular Access Devices: Central Venous Catheters (CVC), Peripherally Inserted Central Catheters (PICC), Implantable Ports
2) By Peripheral Vascular Access Devices: Peripheral IV Catheters, Midline Catheters, Butterfly Needles
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What Trends Are Reshaping The Future Of The Vascular Access Devices Market?
Leading companies in the vascular access devices market are intensifying their focus on crafting more effective devices utilizing cutting-edge technologies such as TipTracker technology to secure a competitive advantage. This technology offers live visual navigation and tracks the catheter's pathway on a vivid color screen, aiding in affirming final tip placement. For instance, in May 2023, Teleflex Incorporated, an American medical devices manufacturer, introduced two novel devices, the VPS Rhythm and the DLX Device. These new devices, featuring TipTracker technology, remove the necessity for confirmatory X-rays, simplifying the process of PICC insertion. Furthermore, they assure improved advancement of PICC into the superior vena cava (SVC) for successful insertion. The introduction of the VPS Rhythm and DLX Device enhances the market by improving patient care, broadening treatment choices, boosting efficiency, and fostering technological advancements in medicine.
Who Are the Key Players In The Vascular Access Devices Market?
Major companies operating in the vascular access devices market report are:
• Medtronic PLC
• Siemens Healthineers
• Fresenius Medical Care AG & Co. KGaA
• Becton Dickinson and Company (BD)
• Baxter International Inc.
• Boston Scientific Corporation
• Medline Industries LP
• Terumo Corporation
• Edwards Lifesciences Corp.
• B. Braun Melsungen AG
• Teleflex Incorporated
• ICU Medical Inc.
• Cook Medical
• Merit Medical Systems Inc.
• Biotronik Inc.
• AngioDynamics Inc.
• Argon Medical Devices Inc.
• Nipro Medical Corporation
• pfm medical ag
• Amecath Medical Technologies
• Romsons Group
• Medical Components Inc.
• Access Vascular Inc.
• Newtech Medical Devices Pvt. Ltd.
• Vygon USA
What Is The Most Dominant Region In The Vascular Access Devices Market?
North America was the largest region in the vascular access devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vascular access devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
