Global Vascular Access Devices Market: Snapshot
The demand in the global market for vascular access devices, which are medical devices made of hollow and flexible tubes of latex or silicone that enable an access to the bloodstream, has been consistently incrementing owing to growing number of surgeries performed each year across the world. Vascular access devices are used to perform diagnostic tests, reading central venous pressure, blood sampling, blood transfusion, and fluid infusion.
The global vascular access devices market was worth US$5.10 bn in 2015, and incrementing at an impressive CAGR of 5.4% during the forecast period of 2016 to 2024, the valuation is estimated to reach US$8.60 bn by the end of 2024. Rising geriatric population and prevalence of cancer, kidney failure, diabetes, and other lifestyle-inflicted diseases are some of the other factors augmenting the demand in the global vascular access devices market. In addition, technological advancements in these devices has also significantly favored the future of this market. New products such as drug-coated catheters and anti-microbial-coated catheters have considerably reduced the incidences of catheter-related infections. Latest techniques, for example ultrasound-guided catheter tip have helped in increase the efficiency of these devices.
Cost-effectiveness Driving Demand for Peripheral Catheters
Based on product, the global vascular access devices market is segmented into peripheral catheters, which includes peripheral intravenous catheters (PIVC) and midline catheters and central catheters, which includes central venous catheters (CVC), peripherally inserted central catheters (PICC), implantable ports, and hemodialysis catheters. Among these, peripheral catheters segment is currently most profitable, gaining traction from its ease of administration, reduced duration of usage, low frequency of catheter-related complications, and cost effectiveness. The segment of central catheters is also projected for a healthy growth during the forecast period.
Application-wise, the global vascular access devices market has been categorized into administration of fluids and nutritional compounds, medication administration, diagnostic testing, and transfusion of blood products. Based on the route of insertion, the market has been bifurcated into subcutaneous and intravenous. End-users of vascular access devices are hospitals, clinics, diagnostic laboratories, and ambulatory surgery centers.
Asia Pacific Opening Vast Opportunities
Geographically, the report studies the opportunities available in the global vascular access devices market in the regions of North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Currently, North America is the most lucrative region, owing to rising prevalence of lifestyle inflicted diseases, growing cancer and diabetes cases, robust healthcare infrastructure in countries such the U.S. and Canada, and high adoptability rate of new technology. Asia Pacific, on other hand, is also projected to expand the demand consistently throughout the forecast period as emerging economies such as India, Japan, South Korea, China, and Malaysia are improving their healthcare facilities. This region resides nearly the half of world’s population and leading players of the market are investing in these countries to expand their product reach.
In a largely consolidated scenario, B. Braun Melsungen AG, Teleflex, Inc., C.R. Bard, Fresenius Medical Care, and Becton, Dickinson and Company are the leading companies in the global vascular access devices market. Competition in this market is more among these players than from an outside entrant.
Vascular Access Devices Market: Scope and Methodology
Vascular access devices are medical devices used to obtain access to the bloodstream, and are hollow and flexible tubes made of latex, silicone, and other materials, inserted into arteries or veins, to deliver medication, administer fluids and nutritional compounds, and collection of blood and blood products. The report on global vascular access devices market, analyzes the current and future prospects of the market. The report consists of an executive summary that provides information about the products, its segments and sub-segments, along with a market snapshot and comparative analysis by geography, in terms of revenue %, for 2015.
A detailed overview of market dynamics, including the drivers, restraints, and opportunities of the vascular access devices market, along with porter’s analysis, and value chain analysis, of the global market, has been provided in this report. Market revenue and volume analysis for all the above mentioned segments, and their sub segments has been provided for the forecast period of 2016-2024, considering 2015 as the base year, and 2014 as the historical year, along with compound annual growth rate (CAGR %), for the forecast period of 2016-2024. Market share estimations were based on in-depth analysis and study of products, and their features, prices etc. Pricing analysis, for every region has been provided considering the Average Selling Prices (ASP), of products, in these regions.
This report provides in-depth analysis of the vascular access devices market. The stakeholders for this report include companies involved in the manufacturing of vascular access devices. For providing a snapshot of this market to the stakeholders, executive summary section is included in this report, which summarizes the market size, trends and competition in different regions. Market share analysis among the market players is analyzed to signify percentage share of the major players operating in the Vascular Access Devices market. Furthermore, the report incorporates market attractiveness analysis by geography that depicts the most attractive and significant region in the global market in 2015.
The research methodology is a combination of primary and secondary research. Primary research includes information collected via e-mails, and telephonic interviews of Key Opinion Leaders (KOL), and forms the bulk of our research. Secondary research includes information collected from various sources, by study of company websites, annual reports, stock analysis presentations, press releases, and various national and international databases.
Vascular Access Devices Market: Segmentation
Based on product type, the global vascular access devices market has been segmented into peripheral catheters, central catheters, and accessories. The peripheral catheters segment is further categorized as Peripherally Inserted Venous (PIV) catheters, and midline catheters. Central catheters are further segmented into Peripherally Inserted Central Catheters (PICC), Central Venous Catheters (CVC), Implantable Ports, and Dialysis Catheters. Based on applications, the vascular access devices are segmented into medication administration, administration of fluid and nutrition compounds, transfusion of blood products, and diagnostic testing. Based on route of insertion the vascular access devices market is segmented into subcutaneous route, and intravenous route of administration. Based on end users, the market is segmented as hospitals, clinics, ambulatory surgery centers and diagnostic centers.
Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further segmented into major countries which include, U.S., Canada, Germany, U.K., France, Italy, Spain, rest of Europe, China, Japan, India, Australia, Rest of Asia Pacific, Brazil, Mexico, Rest of Latin America, Saudi Arabia, South Africa, Rest of Middle East & Africa. The report also comprises list major players in the market, their SWOT analysis, market share of these players in the vascular access devices market, key business strategies, product portfolios, and recent developments. Key market players profiled in this report include, B. Braun Melsungen AG, C.R. Bard, Teleflex, Inc., Fresenius Medical Care, Baxter International, and Cook Medical, among others.
The global vascular access devices market has been segmented as follows:
Global Vascular Access Devices Market, by Product Type
- PIV Catheters
- Midline Catheters
- Dialysis Catheters
- Implantable Ports
Global Vascular Access Devices Market, by Application
- Medication Administration
- Administration of Fluid and Nutrition
- Transfusion of Blood Products
- Diagnostic Testing
Global Vascular Access Devices Market, by Route of Insertion
Global Vascular Access Devices Market, by End Users
- Ambulatory Surgery Centers
- Diagnostic Centers
Global Vascular Access Devices Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa