The Vascular Access Devices Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Vascular Access Devices Market is estimated to be USD 4.44 billion in 2018 and predicted to rise to USD 6.24 billion by 2023 with a CAGR of 7.10%. The market is segmented by Type (Peripheral (Midline, Short, Butterfly/Winged Steel Needles), Central (PICC, Tunneled, Non-Tunneled, Implanted Ports), Accessories), Application (Drug Administration, Fluid & Nutrition Administration, Blood Transfusion, and Diagnostics Testing), and End Users (Hospitals, Clinics and Ambulatory Care Centers, Other End Users). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The global Vascular Access Devices market is segmented on the basis of Type, Application, and End User. On the basis of Type, it is segmented into Peripheral, Central, and Accessories. The peripheral segment is further sub-segmented into Midline, Butterfly/Winged Steel Needles, and Short. Central segment is further sub-segmented into PICC, Tunneled, Non-Tunneled and Implanted Ports. The central vascular access devices segment is expected to account for the largest share of the vascular access devices market. The dominant share of the market is attributed to the fact that central vascular access devices are used in chemotherapy and for the treatment of cardiovascular disorders and chronic kidney disorders. On the basis of Application, it is segmented into Drug Administration, Fluid and Nutrition Administration, Blood Transfusion, and Diagnostics Testing. The drug administration segment is estimated to account for the largest share of the market, the growth of drug administration segment is attributed to the high usage of vascular access devices for drug administration for the treatment of infections, cancer, and other diseases. Hospitals, Clinics, and Ambulatory Care Centers, Other End Users. The hospital segment is expected to dominate this market. The large share of this segment can be accredited to the fact that a majority of vascular procedures are performed in hospital settings.
On the basis of geography, the market is analyzed under various regions namely North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North American segment is expected to account the largest share of the market. Market growth in this region is primarily driven by factors such as the high prevalence of cardiovascular diseases; increasing number of research studies and clinical trials for vascular access devices in the U.S.; and the increase in chemotherapy procedures. Moreover, the increasing number of cardiac arrest cases, an increase in the number of minimally invasive procedures and the increase in cancer incidences in Canada are other factors driving the growth of this market in this region. Asia Pacific is expected to witness the highest CAGR in the coming years due to increasing geriatric population coupled with medical tourism.
The market is dominated by companies like Becton Dickinson and Company, C.R.Bard Inc, Smiths Medical, Inc., Teleflex Incorporated, B Braun Melsungen Ag, AngioDynamics, Terumo Corporation, Nipro Medical Corporation, Edwards Lifesciences Corporation, Ameco Medical, Romsons Scientific & Surgical Pvt. Ltd, and Prodimed.
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