Vascular Access Device Market Growth Analysis | 2023-2028

Market Insights

The vascular access device market was valued at USD 4.26 billion in 2022 and is likely to grow at a CAGR of 7% during 2023-2028 to reach USD 6.41 billion in 2028.

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What are vascular access devices?

Vascular access devices are referred to as medical equipment that are used to ingress the bloodstream to administer fluids, supply medicines, and nutritional components, and collection of blood vessels and their products. These vascular access tubes are made from silicon, latex, and other substances.

COVID-19 Impact

The COVID-19 pandemic has moderately affected the vascular access device industry. The rapid spread of COVID-19 has led to several thousands of hospital admissions. The focus of healthcare professionals has been shifted toward the treatment of COVID-19-infected patients, which affected the treatment of non-emergency medical conditions, amid the pandemic.

Key Players

Key players operating in the market are-

• BD (US)
• C.R.Bard (US)
• Teleflex (US)
• Smiths Medical (US)
• B Braun (Germany)
• Angiodynamics (US)
• Terumo (Japan)
• Nipro (Japan)
• Edwards (US)
• Amecath (US)

Market Dynamics

Rapidly growing incidence of lifestyle diseases across the globe and technological developments in medical therapies are likely to boost the market growth. Also, the surge in the number of chemotherapy procedures on account of soaring cancer cases worldwide further augments product usage. Moreover, vascular access devices are being widely used in pediatric patients further offering immense growth opportunities to the industry players.

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Segment Analysis

By Device Type

Based on device type, the vascular access device market has been classified into central vascular access devices and peripheral vascular access devices. Under these, the central vascular access devices segment held the largest market share in 2022 and is likely to grow at a considered CAGR during the forecast period. Central vascular access devices are being extensively used in chemotherapy as well as for the treatment of cardiovascular & chronic kidney disorders, thus bolstering the segment growth.

Regional Insights

By region, the North American market held a significant market share in 2022 and is projected to grow at a healthy CAGR in the coming years. Rising healthcare expenditure, favorable reimbursement scenario, as well as a growing number of product approvals are likely to boost the market growth in the region. Also, a surge in the number of cancer cases and the growing prevalence of cardiovascular diseases further augments the regional market growth.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The vascular access device market is segmented into the following categories:

By Device Type

• Central Vascular Access Device
• Peripheral Vascular Access Device

By End-Use Type

• Hospitals
• Clinics and Ambulatory Care Centers

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

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Target Audience

Here is the list of the group of customers that the vascular access device market hopes to have the greatest opportunity to convert-

• Vascular Access Device companies
• Vascular Access Device distributors
• Medical companies
• Government organizations

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s vascular access device market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.

The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.