Vascular Access Device Market Dynamics, Industry Trends, and Competitive Landscape Analysis to 2030

Insightace Analytics Pvt. Ltd. announces the release of a market assessment report on the "Global Vascular Access Device Market- by Product (Portal Access Needles, Implantable Ports, Sheath Introducer, IV Safety Catheters, Central Venous Catheter, Peripherally Inserted Central Catheter and Catheter Stabilization), End-User (General Anesthesia, Regional Anesthesia, Oncology, Pain Management, Adult Critical Care, Neo Critical Care and Home and Alternate Care), Trends, Industry Competition Analysis, Revenue and Forecast To 2030."

According to the latest research by Insightace Analytics, the global vascular access device market was valued at US$ 3,744.2 Million in 2019. It is expected to grow with a CAGR of 5.9 % during a forecast period of 2020-2028.

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Vascular access devices (VADs) are utilized in various diagnostic procedures, including central venous pressure measurement, fluid administration, blood sampling, total parenteral nutrition monitoring, and blood transfusions. These devices are inserted into veins via peripheral vessels and play a critical role in facilitating the delivery of essential treatments and therapies. The increasing demand for VADs can be attributed to their ability to administer nutritionally dense solutions without causing complications.

A significant driver of the vascular access device market is the rising prevalence of cancer, which has led to an increased need for these devices. Moreover, the growing use of VADs in pediatric healthcare services has contributed to market expansion. The demand is also fueled by the growing trend of medical tourism, as more individuals seek healthcare services abroad.

However, the market's growth is hindered by challenges such as complications associated with various catheter types, which have led to product recalls from major industry players due to product failures. Additionally, stringent commercialization regulations are expected to further impede market growth. On a positive note, continuous innovation and advancements by market participants are likely to support the market's expansion, although increasingly stringent product approval requirements may pose challenges during the forecast period.

North America is projected to be the dominant contributor to the vascular access device market due to the rising incidence of cancer and cardiovascular diseases. The growth in the region is also supported by an increase in clinical trials for vascular access devices and the rising prevalence of lifestyle-related diseases. Additionally, the Asia Pacific vascular access device market is expected to experience significant growth, driven by an aging population and heightened public awareness of preventive healthcare. To capitalize on the growing potential in countries such as China, Japan, India, and South Korea, major international companies are expanding their presence in these developing markets.

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Major market players operating in the vascular access device market include
Teleflex Incorporated, Districlass medical, Guangdong Baihe Medical Technology, HEKA Srl, F.B. Medical, I beg - Instituto de Bioengenharia Erasto Gaertner, Smiths Medical, Inc., B Braun Melsungen AG, COOK Medical, Angiodynamics (Navilyst Medical, Inc), PakuMed medical products, Perouse Medical, Vygon S.A., Edwards Lifesciences Corporation, Ameco Medical, Romsons Scientific & Surgical Pvt. Ltd., Terumo Corporation, Nipro Medical Corporation, Merit Medical Systems, Inc., and Prodimed.

Recent collaborations and agreements in the market:
• In July 2022, the new Introcan Safety 2 IV Catheter from B. Braun Medical Inc. (B. Braun) has a one-time blood control. The newest innovation from B. Braun makes IV access safer for the clinician by lowering the possibility of needlestick injuries and their exposure to blood with the Introcan Safety 2 IV Catheter.
• In June 2021, a needle-free vascular access solution was introduced by medK. The needle-free connection typically decreases the risk of needle sticking, which typically provides access to the fluid lines.

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Market Segments
Global Vascular Access Device Market, by Product, 2022-2030 (Value US$ Mn)
• Portal Access Needles
• Implantable Ports
• Sheath Introducer
• IV Safety Catheters
• Central Venous Catheter
• Peripherally Inserted Central Catheter
• Catheter Stabilization
Global Vascular Access Device Market, by End-User, 2022-2030 (Value US$ Mn)
• General Anesthesia
• Regional Anesthesia
• Oncology
• Pain Management
• Adult Critical Care
• Neo Critical Care
• Home and Alternate Care
Global Vascular Access Device Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Vascular Access Device Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Vascular Access Device Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Vascular Access Device Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Vascular Access Device Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Vascular Access Device Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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This release was published on openPR.