The Growth of Vascular Access Devices Market

Overview

The vascular access devices market has shown robust growth in recent years, expanding from $5.3 billion in 2023 to $5.74 billion in 2024 at a Compound Annual Growth Rate (CAGR) of 8.3%. This growth can be attributed to rising chronic diseases, an aging population, healthcare infrastructure growth, increasing surgical procedures, and awareness and training. The market is projected to continue its growth, reaching $7.48 billion in 2028 at a CAGR of 6.8% due to technological advancements in material science, rise in ambulatory care, globalization of healthcare, and remote telemedicine.

Growth Driver of the Vascular Access Devices Market

With increasing lifestyle diseases, also known as non-communicable diseases (NCDs), the demand for vascular access devices is expected to increase. These diseases often require ongoing treatment and care, making vascular access devices essential for the safe and effective delivery of medications and therapies.

Major Players and Market Trends

Key players in the vascular access devices market include Medtronic PLC, Siemens Healthineers, Fresenius Medical Care AG & Co. KGaA, Becton Dickinson and Company (BD), Baxter International Inc., Boston Scientific Corporation, Medline Industries LP, Terumo Corporation, Edwards Lifesciences Corp., B. Braun Melsungen AG, Teleflex Incorporated, ICU Medical Inc., Cook Medical, Merit Medical Systems Inc., Biotronik Inc., AngioDynamics Inc., Argon Medical Devices Inc., Nipro Medical Corporation, pfm medical ag, Amecath Medical Technologies, Romsons Group, Medical Components Inc., Access Vascular Inc., Newtech Medical Devices Pvt. Ltd., and Vygon USA. Major companies operating in the vascular access devices market are focusing on developing more efficient devices using advanced technologies such as TipTracker technology to gain a competitive edge in the market. The TipTracker Technology provides real-time visual navigation, tracing the catheter pathway on a color screen and helps confirm final tip placement.

Market Segments

The vascular access devices market is segmented by device type, application, and end-user:

Device Type: Central Vascular Access Devices, Peripheral Vascular Access Devices
Application: Drug Administration, Fluid And Nutrition Administration, Blood Transfusion, Diagnostics And Testing
End User: Hospitals, Clinics, Ambulatory Care Centers, Other End Users

Geographical Insights

North America was the largest region in the vascular access devices market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of vascular access devices.

Definition of Vascular Access Devices Market

Vascular access devices (VADs) are medical devices that provide access to the bloodstream for a number of tasks, including giving drugs, administering fluids or blood products, or performing diagnostic tests. These devices are used to avoid the need for repeated needle punctures in patients, making it more convenient for both healthcare providers and patients. The main types of vascular access devices are central vascular access devices and peripheral vascular access devices. Central vascular access devices are medical devices designed for inserting catheters into larger veins, typically located near the body’s center. They are used for various applications by various end-users such as hospitals, clinics, ambulatory care centers, and others.

The Vascular Access Devices Global Market Report 2024

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About The Business Research Company

The Business Research Company has published over 27 industries spanning over 8000+ markets and 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.

Originally Post From https://www.einnews.com/pr_news/725338126/vascular-access-devices-market-segments-driver-restraints-and-trends

Exploring Vascular Access Devices Market Segments, Drivers, Restraints and Trends on EIN News