6.5% CAGR growth by 2023 in Vascular Access Device Market| Major Vendors - B. Braun Melsungen AG, Baxter, Becton, Dickinson and Company, Fresenius Medical Care AG & Co., amongst others.

Asia-Pacific Holds Vast Growth Opportunities
The North America region is expected to dominate the market share in the forecast period due to the well-developed healthcare infrastructure, high awareness in society for early diagnosis of diseases and high adoption of new technologies. The Asia-Pacific region is expected to grow at a healthy CAGR between the periods 2018 to 2023 and should provide huge investment opportunities for the vascular device companies in countries, such as India, China, and Japan.

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The rising prevalence of lifestyle related to disorders (such as cardiovascular diseases, diabetes, and obesity) is one of the primary factors driving the vascular access device market. Thus, with the increased rate of hospitalizations, the global demand for vascular access device advances .Other driving factors for this market are the rising number of chemotherapy procedures, increased use of vascular access devices in pediatric patients, and surging medical tourism. The high risk of diseases associated with the long use of catheters is one of the major factors restricting the growth of this market.

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Market Segments:
Vascular access device market is segmented by:
1. Devices Type: Central Vascular Access Devices, Peripheral Vascular Access Devices
2. Application: Administration of Drugs, Administration of Fluid and Nutrition, Diagnostics and Testing
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market

• April 2018: Cardiva Medical, vascular closure system (Vascade) received approval in patients undergoing interventional cardiac catheterization procedures.
• April 2018: REVA Medical, Inc. initiated commercial operations in partnership with Kardionet HealthCare and Foreign Trading, Ltd (“Kardionet”) for Fantom bioresorbable scaffold access to patients.

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