Global Vascular Access Devices Market By Product Type (Central Vascular Access Devices, Accessories and Others), By Application (Drug Administration and Others), By End-User (Hospitals and Others) and By Regions - Global Forecast to 2030

Global Vascular Access Devices Market Overview:

The Global Vascular Access Devices Market was valued at UЅD $5,357.6 Мn in 2020 and is projected to achieve a valuation of UЅD $9,350.2 Мn by 2030, at a САGR of 6.7%.

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 an implanted venous port.

The increasing incidence and prevalence rates of various chronic diseases such as cardiovascular disorders, cancer, renal failure, etc., more specifically in emerging economies, is a primary factor that is anticipated to fuel the revenue growth of the global vascular access devices market over the next decade. Moreover, the steady increase in the geriatric populations of the world is also a major factor that is slated to further complement opportunities for market growth in the years to come, as these individuals are more susceptible to developing chronic diseases among other related disorders.

Furthermore, the increasing number of initiatives being rolled out by various governments aimed at improving awareness levels concerning the effective treatment of these disorders is also a primary factor that is slated to have a positive influence on the revenue growth of the global vascular access devices market in the near future.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global vascular access devices market is no different, and this factor is initially anticipated to have a significantly negative impact on the revenue growth of this industry.

In addition, the enforcement of strict guidelines by respective governing bodies such as the European Commission (EU), the US Food & Drug Administration (FDA), etc., concerning the usage of these devices due to the increasing number of vascular infections is another major factor that may restrain the revenue growth of the global vascular access devices market in the foreseeable future.

Nevertheless, increasing investments by key industry players towards the development of innovative devices that are capable of lowering infection rates, as well as the increasing number of clinical trials and FDA approvals for these devices are also factors that are expected to have a positive influence on the revenue growth of the global vascular access devices market in the near future.

Segmentation of the Global Vascular Access Devices Market is as follows:

In terms of product type, the peripheral vascular access devices segment accounted for the maximum number of revenue shares of the global vascular access devices market in 2020, and this segment is expected to continue doing so over the next decade. The central vascular access devices segment is also anticipated to index considerable revenue growth over the forecast period.

On the basis of application, the drug administration segment accounted for the maximum number of revenue shares of the global vascular access devices market in 2020, and this segment is slated to continue to do so over the next 10 years. However, the diagnostics & testing segment is anticipated to register the highest CAGR over the forecast period.

With regards to end-user, the hospital's segment accounted for the highest number of revenue shares of the global vascular access devices market in 2020, and this segment is indicative of retaining its respective market position over the next 10 years. However, the ambulatory surgical centers & clinics segment is slated to register the highest CAGR over the forecast period.

Regional Segmentation and Analysis:

North America accounted for the maximum number of revenue shares of the global vascular access devices market in 2020, and is indicative of retaining its respective market position over the next decade. However, the markets in the Asia Pacific region are anticipated to index the highest CAGR over the course of the forecast period.

Segmentation of the Global Vascular Access Devices Market:

Segmentation by Product Type:

• Central Vascular Access Devices
  • Peripherally inserted central catheters (PICC)
  • Tunneled catheters
  • Non tunneled catheters
  • Implanted ports
• Peripheral Vascular Access Devices
  • Midline catheter (short) devices
  • Midclavicular catheter (Midline) devices
  • Winged steel needles
• Accessories

Segmentation by Application:

• Drug Administration
• Fluid and Nutrition Administration
• Blood Transfusion
• Diagnostics & Testing

Segmentation by End-User:

• Hospitals
• Clinics and Ambulatory Care Centers
• Other End users

Segmentation by Regions:

• North America
• Europe
• APAC
• South America
• MEA