Vascular Access Devices Market Research Report Forecast to 2024
The vascular access devices market is projected to expand at a CAGR of 6.0% from 2016 to 2024 to reach US$8.6 bn by 2024.
This 232 page report gives readers a comprehensive overview of the Vascular Access Devices Market. Browse through 42 data tables and 97 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/vascular-access-devices-market.html
The peripheral catheters segment accounts for a large share in the global vascular access devices market. Peripheral intravenous catheters (PIVC) are the most preferred kind because of their ease of administration, lower frequency of catheter-related complications, lesser duration of usage, and cost effectiveness.
The central catheters segment is expected to witness considerable growth over the coming years due to the increasing adoption of peripherally inserted central catheters (PICC), hemodialysis catheters, and implantable ports. This can be attributed to the rising prevalence of diseases such as cancer, end-stage renal failure, and cardiovascular disease. The PICC segment is projected to expand at a faster rate due to the longer duration of use and technological advancements in catheter placement.
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North America leads the global vascular access devices market, with a share of over 40% in 2015. The rising prevalence of cancer, cardiovascular diseases, and end-stage renal diseases supports market growth in the region. Growing geriatric population is also a key factor driving this market. Of the 2.8 million patients who underwent dialysis in 2015, around 613,000 were from North America. Moreover, an estimated 1.6 million new cancer cases were detected in the U.S. alone in 2015. These factors collectively drive the vascular access devices market in North America.
Europe also forms a key market for vascular access devices and accounted for a share of over 25% in terms of revenue in 2015. According to the WHO, Germany, Italy, and the U.K. are among nations with the highest percentage of geriatric population in the world. The prevalence of cancer, diabetes, and kidney failure is also high in these countries. The growing number of patients requiring chemotherapy, the increasing number of patients undergoing dialysis and blood transfusion, the rising geriatric population, and a higher incidence of lifestyle diseases are the key factors driving the vascular access devices market in Europe.
The market in Asia Pacific is projected to expand at a high CAGR during the forecast period. A large population base, a greater target patient pool, increasing government initiatives to provide better healthcare facilities, and rising disposable income and per capita healthcare expenditure are driving the vascular access devices market in Asia Pacific.
Major players in the global vascular access devices market include C. R. Bard, B. Braun Melsungen AG, Becton, Dickinson and Company, Fresenius Medical Care, Cook Medical, Inc., Siemens Healthineers, Baxter International, and Medtronic, Inc.
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