Vascular Access Devices Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, Japan, China - Size and Forecast 2024-2028

Vascular Access Devices Market Forecast 2024-2028

The global vascular access devices market size is estimated to grow by USD 2.26 billion at a CAGR of 7.1% between 2023 and 2028. 

The healthcare industry is undergoing a transformative trend due to the convergence of patient preferences and technological advancements, leading to a growing demand for minimally invasive procedures. Minimally invasive procedures involve smaller incisions or natural body openings, offering advantages such as reduced postoperative pain, shorter recovery times, and lower infection risks compared with traditional surgical approaches. Moreover, the diagnostic landscape has seen a shift toward minimally invasive techniques. Procedures such as endovascular ultrasound and angiography, facilitated by these devices, allow for thorough examinations without the need for major surgery. Thus, the growing demand for minimally invasive procedures will continue to drive the growth of the market during the forecast period.

It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.

What will be the size of the Vascular Access Devices Market During the Forecast Period?

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Market Segmentation by Product, End-user and Geography Analysis

Product Analysis

Central VADs

The market share growth by the central VADs segment will be significant during the forecast period. Central VADs include catheters whose tip reaches the superior vena cava, inferior vena cava, or right atrium. This positioning enables the safe infusion of solutions with any pH and osmolarity due to the high blood flow, which dilutes potential damage from vesicant or phlebolesive drugs on the endothelium. 

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The central VADs segment was the largest and was valued at USD 2.50 billion in 2018. Further, BD is a leading global medical technology company known for its diverse healthcare solutions. Within the realm of central VADs, BD offers products such as the BD Nexiva Closed IV Catheter System, incorporating innovative technology for enhanced catheter insertion, reduced complications, and improved patient outcomes. BD also provides other central venous catheters catering to various clinical requirements. Teleflex is recognized for its broad portfolio of medical devices, including vascular access solutions. Thus the use of central VADs is prevalent in critical care settings, oncology, and situations where prolonged intravenous treatments are necessary. Thus, the growing treatment for different medical conditions will continue to drive the growth of the central VADs segment of the market in focus during the forecast period.

End-user

Hospitals

Hospitals serve as the cornerstone of healthcare delivery, representing a primary and critical end-user segment for these devices. These medical institutions, ranging from community hospitals to large tertiary care centres, rely extensively on these devices for a myriad of clinical applications. Renowned institutions such as the Mayo Clinic, known for its patient-focused care and medical innovation, extensively use these devices. Johns Hopkins Hospital, a leader in research and patient care, relies on these devices for various treatments. Additionally, the Cleveland Clinic, renowned for its cardiovascular services, employs these devices in critical care settings. Thus, the growing treatment for different medical conditions in hospitals will continue to drive the growth of the market in focus during the forecast period.

Ambulatory care centers

Ambulatory care centers, comprising outpatient clinics and day surgery centers, play a pivotal role in modern healthcare by offering convenient and efficient medical services outside traditional hospital settings. These centers emphasize same-day procedures, diagnostics, and treatments, promoting a patient-centric approach. these devices are integral to ambulatory care, facilitating intravenous therapies and diagnostic procedures with a focus on minimizing hospital stays. Thus, as healthcare continues to shift towards more outpatient-centric models, the importance of these devices in ambulatory care settings will continue to increase, thereby will drive the growth of the ambulatory care centers segment of the market in focus during the forecast period.

Regional Analysis

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North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. North America stands as a pivotal region in the market, characterized by a high prevalence of chronic diseases, growing healthcare expenditure, and the presence of several key vendors in the region. The US and Canada contribute significantly to the growth of the market in the region. The growing healthcare expenditure in North America further propels the market by facilitating increased investment in advanced medical technologies, infrastructure, and innovative healthcare solutions. This financial commitment supports the adoption of cutting-edge devices, enhancing patient care and contributing to the region's leadership in driving the market's growth.

In addition, with a considerable portion of this spending allocated to chronic disease conditions, the market for these devices is likely to benefit from this increase in investment, ensuring continued research, innovation, and improved advanced treatments for the growing population affected by chronic diseases, thereby contributing to the growth of themarket in the region during the forecast period.

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Key Vascular Access Devices Market Companies

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 30 market companies, including:

3M Co.  - The company offers devices such as 3M Tegaderm Chlorhexidine Gluconate, 3M Cavilon No Sting Barrier Film, 3M Tegaderm Transparent Film Dressings, and 3M Tegaderm I.V. Advanced Securement Dressings.

• Access Vascular Inc.
• Amecath
• AngioDynamics Inc.
• Argon Medical Devices Inc.
• B.Braun SE
• Becton Dickinson and Co.
• BIOTRONIK SE and Co. KG
• Cook Group Inc.
• Delta Med S.p.A.
• Fresenius SE and Co. KGaA
• Guangdong Baihe Medical Technology Co. Ltd.
• Haolang Technology Foshan Limited Co. Ltd.
• ICU Medical Inc.
• Kimal Group
• Medical Components Inc.
• Medline Industries LP
• Medtronic Plc
• Nipro Medical Corp
• Teleflex Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market: Key Drivers, Trends, Challenges, and Customer Landscape

There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. 

Key Market Drivers

The increasing prevalence of chronic diseases globally is notably driving the market growth. The instances of chronic diseases, including cardiovascular diseases, diabetes, and cancer, have witnessed a surge, necessitating advanced medical interventions and therapeutic treatments. According to the International Diabetes Federation (IDF), in 2021, an estimated 537 million adults aged 20 to 79 years globally were living with diabetes, equating to 1 in 10 individuals. Projections indicate a concerning upward trend, with expectations of reaching 643 million by 2030 and a further increase to 783 million by 2045. 

Moreover, patients with cardiovascular diseases often require continuous monitoring and treatment, necessitating the use of these devices for the efficient delivery of medications and fluids. The prevalence of these chronic conditions is expected to continue growing due to factors such as sedentary lifestyles, dietary habits, and an aging population, sustaining the demand for thesedevices. Therefore, the increasing prevalence of chronic diseases globally will continue to drive the growth of the market during the forecast period.

Significant Market Trends

The growing medical tourism industry in developing countries is an emerging trend shaping the market growth. The major trend of medical tourism in developing countries such as India, Brazil, China, Indonesia, South Africa, and others is poised to exert a substantial impact on the growth of the market. Also, one key factor contributing to the growth of the vascular access device market in developing countries is the increasing number of medical facilities offering advanced and specialized treatments. As these facilities strive to meet international standards and cater to the needs of medical tourists, the demand for state-of-the-art devices rises.

However, these devices are essential for a range of medical procedures, including surgeries, dialysis, and chemotherapy, which are often sought by medical tourists. Thus, the growing medical tourism industry in developing countries is expected to drive the growth of the market during the forecast period.

Major Market Challenges

The increasing shortage of skilled healthcare professionals is a significant challenge hindering market growth. Healthcare professionals, particularly nurses and physicians, play a crucial role in the successful and safe insertion of devices such as central venous catheters, PICCs, and arterial lines. The complexity of these procedures demands a comprehensive understanding of anatomy, aseptic techniques, and the ability to navigate potential complications. The shortage of healthcare professionals with the necessary skills poses a significant challenge in ensuring consistent and high-quality vascular access procedures. Competency in device insertion is particularly critical, given the potential complications associated with improper placement, including infections, thrombosis, and mechanical failures. 

However, the accessibility of sufficient training opportunities and the ongoing need for skill maintenance remain challenges, especially in healthcare settings with limited resources. Moreover, the demand for vascular access procedures continues to rise, placing additional pressure on healthcare systems to ensure an adequate workforce with the necessary skills. Thus, the shortage of skilled healthcare professionals will pose a major challenge to the growth of the market during the forecast period

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Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.

Global  Market Customer Landscape

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides
market trends and analysis and growth opportunities from 2018 to 2028. 

• Product Outlook
  • Central VADs
  • Peripheral VADs
  • Accessories

• End-user Outlook
  • Hospitals
  • Ambulatory care centers
  • Clinics and others

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest Of World
    • Brazil
    • Argentina
    • Australia 

Market Analyst Overview

The Market is witnessing significant growth driven by shifting patient demographics with an aging global population and rising prevalence of diseases such as cancer, metabolic disorders, and respiratory and cardiovascular disorders. The market offers a variety of products, including Short PIVCs, CVCs, CVC devices, and PICC sales, with a focus on power-injectable and anti-thrombogenic features, as well as antibacterial technologies to address healthcare challenges exacerbated by the Global COVID-19 pandemic.

This growth is further fueled by increasing sales and dialysis catheter adoption, although challenges related to catheter-related complications persist. Healthcare institutions and manufacturers are investing in clinical investigations, training programs, and initiatives like the Teleflex Academy program to enhance brand loyalty and improve device purchase decisions. The market is characterized by intense competition, driving companies to innovate with Huber needles and advanced products like Braun's Introcan Safety, leading to increased rivalry and the adoption of cutting-edge technologies supported by clinical trials.

Vascular Access Devices Market Scope
Report Coverage	Details
Page number	176
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 7.1%
Market Growth 2024-2028	USD 2.26 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	5.81
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 44%
Key countries	US, Germany, UK, Japan, and China
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	3M Co., Access Vascular Inc., Amecath, AngioDynamics Inc., Argon Medical Devices Inc., B.Braun SE, Becton Dickinson and Co., BIOTRONIK SE and Co. KG, Cook Group Inc., Delta Med S.p.A., Fresenius SE and Co. KGaA, Guangdong Baihe Medical Technology Co. Ltd., Haolang Technology Foshan Limited Co. Ltd., ICU Medical Inc., Kimal Group, Medical Components Inc., Medline Industries LP, Medtronic Plc, Nipro Medical Corp., pfm medical ag, Teleflex Inc., Terumo Corp., and Vygon SAS
Market dynamics	Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market growth analysis for the market forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2024 and 2028
• Precise estimation of the market size and its contribution of the market in focus to the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies' position and classification
• Accurate predictions about market growth and trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough market research and growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the growth of market companies

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