Selbyville, Delaware, Nov. 04, 2020 (GLOBE NEWSWIRE) -- As per credible sources, worldwide vascular access devices market is expected to grow momentously and accumulate USD 7.72 billion by the year 2027. Increasing incidences of chronic kidney disorders, high prevalence of CAD (coronary artery disease) and PAD (peripheral artery disease) among aged population, and shifting patient preference towards minimally invasive surgeries are primarily impelling global vascular access device market growth, claims the report.
Global vascular access device market, as per the given report, is studied pertaining to segments based on type, application, end-user, and regional landscape. The report showcases competitive hierarchy with key emphasis on business profiles of industry players, alongside their product portfolio and market stake held by them. It further entails expansion strategies undertaking of companies to stand their ground in highly competitive market.
According to Center for Disease Control and Prevention (CDC), over 8.5 million individuals in the U.S. were recorded to be suffering from peripheral artery disease (PAD) in 2019. Notably, PAD are more susceptible to developing coronary artery disease, consequently leading to strokes or cardiac arrhythmias, thereby boosting the demand for vascular access devices.
For the uninitiated vascular access devices (VAD) are inserted in central and peripheral vessels to administer fluids, parenteral nutrition, antibiotics, as well as for blood sampling. Growing pool of diabetic population, in consort with surging number of chemotherapy procedures are stimulating global vascular access device industry outlook.
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However, complications associated with VAD such as thrombosis and restenosis, alongside associated risks like destruction of blood vessels, bleeding near catheter insertion site, and infection are acting as restraints for global vascular access device market.
Analyzing market as per type
As per industry experts, central vascular access devices segment held the largest share of worldwide VAD market in 2019, mainly due to extensive utilization of these devices in chronic kidney disorders (CKD) and chemotherapy procedures. According to Lancet, there were about 1.2 million deaths due to CKD with total recorded cases of 697.5 million with a prevalence rate of 9.1% in 2017.
Outlining application spectrum
Global vascular access device market share from drug administration application was substantial in 2019 and poised to grow further over the analysis timeframe. VADs are used in drug administration for cancer treatments, and other medicines as well as find application in diagnosis of multiple diseases.
Elaborating end use scope
As per the estimates, hospitals segment contributed majorly towards global vascular access device industry revenues in the past year, pertaining extensive usage of vascular access devices in hospital settings. The returns will continue to pour in owing to rising hospital admissions and favorable reimbursement scenario in developed countries.
Considering regional outlook
North America dominated the global vascular access device (VAD) market in 2019, with major contributions from the U.S. Rising cases of CAD and PAD, unhealthy lifestyle causing obesity, and increasing old age population are the key growth factors for North America market. Further, improved patient awareness and availability of good healthcare infrastructure are fostering the industry growth in the region.
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Meanwhile, Asia Pacific vascular access device industry is reckoned to experience fastest growth during 2020-2027, mainly due to rise in the prevalence of cardiac diseases and PAD in countries like India, China, Indonesia, and Malaysia. Increasing adoption of preventive treatment and government measures towards building better healthcare facilities are swaying the business dynamics in APAC.
Global Vascular Access Device Market by Type (Revenue, USD Million, 2016-2027)
- Central Vascular Access Devices
- Peripherally Inserted Central Catheters (PICC)
- Implanted Ports
- Tunneled Catheters
- Non-tunneled catheters
- Peripheral Vascular Access Devices
- Midclavicular Catheters
- Midline Catheters
- Winged Steel Needles
- Accessories
Global Vascular Access Device Market Application Spectrum (Revenue, USD Million, 2016-2027)
- Blood transfusion
- Fluid & Nutrition Administration
- Drug Administration
- Diagnostics & Testing
Global Vascular Access Device Market End-Use Scope (Revenue, USD Million, 2016-2027)
- Ambulatory Care Centers
- Clinics
- Hospitals
- Others
Global Vascular Access Device Market Geographical Landscape (Revenue, USD Million, 2016-2027)
Latin America
- Mexico
- Brazil
- Argentina
Middle East & Africa
- Israel
- South Africa
- UAE
- Saudi Arabia
Europe
- Spain
- Belgium
- Italy
- UK
- Germany
- France
- Austria
Asia Pacific
- Indonesia
- Australia
- India
- China
- Japan
- Malaysia
North America
- Canada
- United States
Global Vascular Access Device Market Competitive Analysis (Revenue, USD Million, 2016-2027)
- Becton Dickinson and Company
- Smiths Medical Inc.
- Prodimed Sarl
- B. Braun Melsungen AG
- Romsons Scientific & Surgical Pvt. Ltd.
- C.R. Bard Inc.
- Bluegrass Vascular Technologies, Inc.
- Ameco Medical Equipment LLC
- AngioDynamics Inc.
- Terumo Corporation
- Nipro Medical Corporation
Table of Contents
1. Introduction
1.1. Report Description
1.1.1. Objectives of the Study
1.1.2. Market Scope
1.1.3. Assumptions
1.2. Stakeholders
2. Executive Summary
2.1. Market Highlights
3. Research Methodology
3.1. Overview
3.1.1. Data Mining
3.2. Data Sources
3.2.1. Primary Sources
3.2.2. Secondary Sources
4. Vascular Access Device Market Insights
4.1. Vascular Access Devices - Industry snapshot
4.2. Vascular access device market Dynamics
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTLE Analysis
4.5. Vascular access device market Industry trends
5. Vascular access device market Assessment by Type
5.1. Key Findings
5.2. Introduction
5.3. Central Vascular Access Devices
5.3.1. Peripherally inserted central catheters
5.3.2. Tunneled catheters
5.3.3. Non-tunneled catheters
5.3.4. Implanted ports
5.4. Peripheral Vascular Access Devices
5.4.1. Midline catheters
5.4.2. Midclavicular catheters
5.4.3. Winged Steel needles
5.5. Accessories
6. Global Vascular access device market, by Application
6.1. Key Findings
6.2. Introduction
6.3. Drug Administration
6.4. Fluid and nutrition administration
6.5. Blood Transfusion
6.6. 6.5 Diagnostics and Testing
7. Vascular access device market Assessment by End-Use
7.1. Key Findings
7.2. Introduction
7.3. Hospitals
7.4. Clinics
7.5. Ambulatory Care Centers
7.6. Other end-use
8. Vascular access device market Assessment by Geography
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