“Global Vascular Access Devices Market, By Product Type (Central Vascular Access Devices, Peripheral Vascular Access Devices, Accessories), By Application (Drug Administration, Fluid and Nutrition Administration, Blood Transfusion, Diagnostics & Testing), by End-User (Hospitals, Clinics and Ambulatory Care Centers, Other End users), as well as by Region – Global Forecast 2020 to 2030.”, which offers a comprehensive view of the Global Vascular Access Devices Market through systematic segmentation that encompasses every aspect of this target sector. The 5-year (2020–2025) cumulative revenue of this sector is projected to be over $7,238.5 Mn, and is estimated to increase substantially over the latter part of the forecast period.
A vascular access device is any device that is utilized for venous access regardless of location. These include Peripherally Inserted Central Catheter (PICC), Peripheral Intravenous Catheter (PIV), Centrally Inserted Central Catheter (CICC), and implanted venous port.
The increasing prevalence and incidence rates of individuals suffering from various chronic diseases across the world, irrespective of age, is a major factor that is anticipated to increase the demand for these types of specialized devices, subsequently boosting opportunities for increased revenue growth over the forecast period in the process. The strict enforcement of various guidelines by respective governing authorities such as the European Union, the FDA, etc., on account of the increase in the number of vascular–related infections being observed, is a factor that could restrain market growth. However, the ever-increasing geriatric population of the world is another major factor that is expected to further augment market growth for the global vascular access devices sector, as these individuals are more susceptible to developing disorders or ailments that would require medical assistance to treat. This is also slated to positively contribute to the market growth of the global vascular access devices industry in the years to come, expanding its overall market footprint in doing so. These are some of the most crucial factors anticipated to play a critical role in catapulting projected revenues for the Global Vascular Access Devices Market to $9,350.2 Mn by 2030, at a CAGR of 6.7%.
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