Transparency Market Research (TMR)
has published a new report titled, ‘Vascular Access Devices
Market - Global Industry Analysis, Size, Share, Growth, Trends, and
Forecast, 2019–2027’. According to the report, the global vascular access
devices market was valued at US$ 6,077.2 Mn in 2018 and is projected to expand
at a CAGR of 5.8% from 2019 to 2027.
Overview
·
Vascular access devices (VADs) are
inserted into veins via peripheral or central vessels for diagnostic or
therapeutic reasons, such as blood sampling, central venous pressure
readings, Medication Administration, fluids, total parenteral nutrition (TPN)
and blood transfusions.
·
The growing relevance of cardiovascular
treatment has played an integral role in driving sales across the global
vascular access devices market.
·
Intravenous devices have gained relevance
across the field of cardiology, and the medical fraternity is making concerted
efforts to drive sales.
·
Based on product, the vascular access devices
market is segmented into peripheral catheters, central catheters, and
accessories.
·
North America dominated the global vascular
access devices market in 2018 and the trend is anticipated to continue during
the forecast period. Increasing adoption of technological advanced products and
increasing prevalence of vascular disorders has contributed to dominant share
of the region in global market.
·
Asia Pacific is likely to be a highly
lucrative market for vascular access devices and it is expected to expand at a
high CAGR during the forecast period
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Technological
Innovations to Drive Market
·
Innovative technologies, products and
procedures are constantly fueling the growth in the market. New catheter
material compositions that improve user’s pre and post-catheterization comfort,
antimicrobial coatings that prevent the formation of biofilms and crusts are
some of the advances, which manufacturers and researchers are developing.
·
Biocompatible materials, such as silicone and
polymer mixes, are substituting latex materials, giving rise to lubricious
internal and external surfaces that reduce pain during Administrations. Silicon
coated and 100% silicone catheters are already in widespread use in cases where
patients are allergic or hypersensitive to latex.
·
Antimicrobial coating, and drug coated
catheters are the most recently approved products by the U.S.-FDA, that have
reduced catheter related infections, and complications.
Peripheral
Catheters Segment to Dominate Market
·
In terms of product, the vascular access
devices market is segmented into peripheral catheters, central catheters, and
accessories. Peripheral catheters segment is segmented into PIVC and midline
catheters. The central catheters are further classified into PICC, Central
Venous Catheters, Implantable ports, and dialysis catheters.
·
Peripheral catheters accounted to larger
market share in terms of revenue in 2018 and expected to grow in the forecast
period due to due to cost effectiveness, ease of insertion, reduced
complication risks associated with use of other catheters, and government
regulations.
·
Peripheral catheters are most widely accepted
catheters globally, especially in emerging economies, due to advantages over
central catheters such as ease of administration, less frequency of catheter
related complications, lesser duration of usage (around one week), and cost
effectiveness. Hence, the segment holds higher share globally in vascular
access devices market.
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Medication
Administration segment to be Highly Lucrative Segment
·
By application, the vascular access devices
market is segmented into medication administration, administration of fluids
and nutritional compounds, transfusion of blood products, and diagnostic
testing.
·
Medication administration segment accounted
for larger market share in terms of revenue in 2018, medication administration
segmented accounted for more than 45% of the market share in 2018 due to high
prevalence and rise in incidence rates of chronic disorders across the globe.
Intravenous
Route segment to dominate the Market
·
By route of administration, the vascular
access devices market is segmented into intravenous route and subcutaneous
route.
·
Intravenous route segment accounted for larger
market share in terms of revenue in 2018, intravenous route segmented accounted
for more than 75% of the market share in 2018 due to reliability and rapid
delivery of medication. Increasing use of PICC and PIVC devices support the
growth of the intravenous Route of Administration segment.
Hospitals
Segment to offer attractive opportunity
·
Based on the end-user, the market has been
segmented into hospitals, clinics, ambulatory surgical centers and diagnostic
centers.
·
The hospitals segment dominated the market in
2018 and is anticipated to remain dominant in the forecast period owing to the
increasing demand for minimal invasive procedures and increasing number of
surgeries for vascular diseases.
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North America
to Dominate Global Market
·
In terms of region, the global vascular access
devices market has been segmented into North America, Europe, Asia Pacific,
Latin America, and Middle East & Africa.
·
North America dominated the global vascular
access devices in 2018 and is estimated to maintain its leading position by the
end of 2027 with sight decline in the market share.
·
Increased adoption of technological advanced
products in the region, high prevalence of vascular disorders, rapidly aging
population, and well established healthcare infrastructure etc. factors have
contributed to dominant share of the region in global market.
·
The market in the Asia Pacific region is
projected to expand at exponential growth rate during the forecast period. The
highest growth rate in the Asia Pacific region is attributed to increased
market penetration of global players in highly populous countries such as
China, India, Taiwan, rapidly improving healthcare industry in the region, and
comparatively large patient pool with vascular and chronic disorders.
Competitive
Landscape
·
The global vascular access devices market is
fragmented in terms of number of players. Key players operating in the global
vascular access devices market includes, include B. Braun Melsungen AG, Baxter
International, Becton, Dickinson and Company, Cook Medical, Medtronic plc, W.
L. Gore & Associates, Inc., Teleflex, Inc., Siemens Healthineers, Nipro
Medical Corporation and Fresenius Medical Care.
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