Vascular access device market to be worth $2.64 billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, January 25, 2023 /PRNewswire/ — The global vascular access devices market size is expected to reach $2.64 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5% from 2023 to 2030. Increasing geriatric population, prevalence of chronic diseases and number of surgical operations are contributing to market expansion. The vasculature can be accessed with vascular access devices so that fluids, drugs, and blood can be administered or removed. To treat serious medical conditions, including cancer and kidney failure, these devices are often used. The need for vascular access devices is expected to be driven by the increasing prevalence of chronic diseases. In addition, technological advancements in medical devices are likely to support market growth.

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Key industry insights and findings from the report:

  • On the basis of product, the market is segmented into short peripheral intravenous catheter (short PIVCs), Huber Needles, central catheters, peripherally inserted central catheter (PICC), dialysis catheters, implantable ports and central venous catheters. Furthermore, the Short Peripheral Intravenous Catheters (Short PIVCs) segment accounts for the largest market share of over 40% in 2022 and is expected to maintain its dominance over the forecast period. This is due to the increasing number of emergency operations and the increasing prevalence of chronic diseases.

  • The market is further segmented on the basis of end users, which includes hospitals, ambulatory surgery centers, and other end users. Hospitals accounted for the largest market share in 2022 and is expected to maintain its dominance over the forecast period. This is due to the availability of well-equipped health facilities, the high cost of health care and the availability of qualified health professionals in hospitals.

  • North America held a core market share of over 58% in 2022; this is due to the presence of advanced health infrastructure and the increasing prevalence of chronic diseases in the region.

  • The competitive environment for vascular access devices is highly competitive, with many companies offering different types of products and services. Major players in this market include BD, B. Braun Melsungen AG, Terumo Corporation, Teleflex Incorporated and Smiths Medical. These companies are constantly innovating and introducing new products and services to maintain their market share. Other smaller companies such as AngioDynamics, Deltamed and Merit Medical Systems have a presence in the market.

Read 150 Page Market Research Report Vascular Access Devices Market Size, Share & Trend Analysis Report by Product Type (Short PIVC, Huber NeedlesMid Catheters, PICC, CVC, Dialysis Catheters, Implantable Ports), by End Use, by Region and Segment Forecasts, 2023 – 2030,” published by Grand View Research.

Vascular Access Devices Market Growth and Trends

The increase in chronic diseases, including cancer, kidney disease, heart disease, hypertension, diabetes, obesity and depression, has led to an increase in new cancer cases. For example, the GLOBOCAN 2020 report states that 19,292,789 new cancer cases were reported in 2020, of which 2,261,419 and 2,206,771 were specifically related to breast cancer and lung cancer, respectively. In addition, according to WHO data published in April 2021, chronic diseases would cause the death of 41 million people annually (71% of all deaths), with 77% of these deaths occurring in low- and middle-income countries. The demand for vascular access devices will increase with the rise of cancers in the coming years.

Key players in the market are investing in new product launches and collaborations to maintain their market presence. For example, in September 2022, Access Vascular, Inc., has partnered with the Access Vascular Association (AVA). This partnership aims to improve patient outcomes with evidence-based practices and technical education. In addition, in May 2020, Smiths Medical (ICU Medical, Inc.) acquired the business of Access Scientific, LLC; this transaction expands Smiths Medical’s vascular access product portfolio.

Vascular Access Devices Market Segmentation

Grand View Research segments the global vascular access device market based on product, end-use, and region:

Vascular Access Devices Market – Product Forecast (Revenue, USD Million, 2018 – 2030)

  • Short peripheral intravenous catheter (short PIVCs)

  • Huber Needles

  • Midline catheters

  • Peripherally inserted central catheter (PICC)

  • Central venous catheter (CVC)

  • Dialysis catheters

  • Implantable ports

Vascular Access Devices Market – End-Use Outlook (Revenue, USD Million, 2018 – 2030)

Vascular Access Devices Market – Regional Outlook (Revenue, USD Million, 2018 – 2030)

  • North America

  • Europe

  • Asia and the Pacific

  • Latin America

  • Middle East and Africa

List of Vascular Access Devices Market Key Players

  • BD

  • Teleflex Medical

  • B. Brown

  • Angiodynamics

  • Smith Medical (ICU Medical, Inc.)

  • Medtronic

  • Medical Components, Inc.

  • Medical chef

  • Terumo Medical Corporation

  • Access Vascular, Inc.

See more related studies published by Grand View Research:

  • Intravascular Ultrasound Market – The global intravascular ultrasound market size is expected to reach $1.14 billion to 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 5.1% from 2023 to 2030. The increasing prevalence of cardiovascular diseases coupled with the growing demand for effective diagnostic techniques is the key factor driving the market. Moreover, consistent technological advancements are expected to further drive the growth of the market during the forecast period. Intravascular ultrasound (IVUS) is an effective intravascular imaging method because this technology overcomes the many disadvantages of angiography, which uses X-ray technology to create images.

  • Cardiovascular Recovery and Rehabilitation Devices Market – The global cardiovascular repair and rehabilitation devices market is expected to reach 4481.5 million USD by 2025, according to a new report by Grand View Research, Inc. Increasing prevalence of congenital heart defects (CHD) and availability of technologically advanced cardiovascular valves, grafts and patches are among the key factors expected to drive growth over the forecast period.

  • Catheter market – The global catheter market size is expected to reach $85.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.5% from 2022 to 2030. Increasing number of surgeries due to increasing number of chronic diseases such as diabetes, cardiovascular diseases, urological diseases, end-stage renal diseases and others chronic conditions are expected to increase the adoption rate of catheters, thereby driving the market over the forecast period.

Check out Grand View Research’s Medical device industry Research reports.

About Grand View Research

Grand View Research, a US-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and with headquarters in San Francisco, the company consists of over 425 analysts and consultants, adding more than 1,200 market research reports to its vast database each year. These reports offer in-depth analysis of 46 industries in 25 major countries worldwide. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess the opportunities ahead.

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