Global Vascular Access Device Market Report

Date: 1 August 2019

According to a research report published by Azoth Analytics in July 2019, the Global Vascular Access Device Market was valued at approximately USD 6.7 billion the year 2018. Rising prevalence of chronic ailments in conjunction with growing per capita healthcare expenditure are the key factors backing the global vascular access device market.

The Azoth Analytics research report titled Global Vascular Access Device Market has analysed and segmented the Vascular Access Device Market by product type (Peripherally Inserted Central Catheters, Central Venous Catheters, Implantable Ports and Others) and By Value (USD Billion). The report has also further analysed the Vascular Access Devices Market By Mode of Insertion (Intravenous and Subcutaneous). The Global Vascular Access Device Market has been analysed By Region (North America, Europe, Asia Pacific, ROW) and By Country (United States, Canada, United Kingdom, Germany, China, Japan, India, Brazil and Mexico) for the historical period of 2014-2018 and the forecast period of 2019-2024.

Swiftly rising geriatric population coupled with substantial population suffering from chronic ailments, has been one of the key factors driving the demand for vascular access devices in the historic period. According to the Department of Economic and Social Affairs, globally, the number of individuals aged 60 or over is projected to double by 2050, from nearly, 1 billion in 2015 to 2.1 billion in 2050. These ongoing demographic changes are bringing in several sedentary lifestyles related disorders as well as morbid infirmities such as cancer, cardiovascular diseases, diabetes, nerve damage, gastrointestinal syndromes among others. Diagnosis as well as treatment of these diseases more often than not require some variety of a vascular access device for better patient management. Among the segments, wide range of applications of peripherally inserted central catheters has been backing its majority share in the market. While, low discernibility and uncomplicated maintenance procedure associated with implantable ports has been fuelling it’s growth in the market. 

The North America region holds the largest market of the global vascular access device market owing to factors such as high per capita expenditure on healthcare, high penetration of insurance, availability of highly advanced medical infrastructure as well as active investments by leading companies situated in the United States and Canada. In the forecast period, it is estimated that Asia Pacific region will witness highest growth rate, driven by surging demand from countries such as China, India, Thailand, South Korea, etc. Key players operating in this moderately fragmented vascular access device market include Becton, Dickinson and Company, B. Braun Melsungen, Teleflex, Inc., AngioDynamics, Fresenius Medical Care, Argon Medical Device, Inc., Smiths Medical, etc.