Vascular Access Device - Market Insights, Competitive Landscape, and Market Forecast - 2030

Vascular Access Device - Market Insights, Competitive Landscape, and Market Forecast - 2030

Vascular Access Device Market by Device Type (Central Vascular Access Device [Peripherally Inserted Central Catheters (PICC), Non-Tunneled Catheters, and Others], and Peripheral Vascular Access Device [Peripheral Catheter, Midline Catheter (Short) Devices, and Others]), Route of Insertion (Intravenous and Subcutaneous), End-User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to grow at a steady CAGR forecast till 2030 owing to increasing prevalence of infectious diseases and rising technological advancements in the product portfolio

The vascular access device market was valued at USD 4.59 billion in 2023, growing at a CAGR of 6.64% during the forecast period from 2024 to 2030, to reach USD 6.75 billion by 2030. The demand for vascular access device is primarily motivated by the growing prevalence of chronic diseases like cancer, kidney failure, and heart diseases that requires the use of these devices. Some other factors like the rise in the number of chemotherapies, lifestyle diseases, and their rising occurrence in pediatric patients may drive the growth of the market.

Vascular Access Device Market Dynamics:

The increasing prevalence of chronic and infectious diseases globally is going to accelerate the growth of the vascular access device market. For instance, according to Global Cancer Observatory data 2020, globally about 573 thousand cases of bladder cancer were reported in 2020. As per the same source, it has been estimated that by 2040, the number is likely to reach up to 913 thousand.

As per the above-mentioned source, worldwide around 431 thousand new cancer cases of kidney and renal pelvis were diagnosed in 2020 and the cases are expected to increase to 606 thousand by 2040. As per the GLOBOCAN 2020 data, worldwide 1.41 million new cases of prostate cancer were registered in 2020. As per the same source, around 2.24 million new cases of prostate cancer are going to be recorded in 2040.

The latest data published by the International Society of Nephrology stated that, worldwide, 850 million people were living with some form of kidney disease in 2022. The source further mentioned that between 5.3 and 10.5 million people needed dialysis or transplantation globally.

However, complications and high costs associated with different vascular access devices may restrict the growth of the overall vascular devices market.

Vascular Access Device Market Segment Analysis:

Vascular Access Device by Device Type (Central Vascular Access Device [Peripherally Inserted Central Catheter (PICC), Non-Tunneled Catheters, and Others], and Peripheral Vascular Access Device [Peripheral Catheter, Midline Catheter (short) Devices, and Others]), Route of Insertion (Intravenous and Subcutaneous), End-User (Hospitals, Ambulatory Surgical Centres, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the device type segment of the vascular access device market, the peripherally inserted central catheters (PICC) category under the central vascular access device is expected to hold the largest share. This is owing to the advantages that are associated with PICC. PICCS are generally used to give medications or liquid nutrition upon insertion through a vein in the arm of patients suffering from various diseases including cancer, infectious diseases, and others.

PICCs allow for long-term access to inject fluids or draw blood. These allow doctors to access the large central veins near the heart for effective administration of medications.

PICCs are associated with less pain and help avoid frequent needle sticks. They also reduce the risk of irritation to the smaller veins present in the arms.

The fact that PICCs can have several lumens is another advantage. The tubing and caps that feed from multiple sources make up a lumen. As a result, a patient may receive multiple medications at once. For instance, they might have fluids and chemotherapy at the same time.

Therefore, considering the advantages associated with peripherally inserted central catheters (PICCs), this product category is expected to generate significant revenue share eventually contributing to the overall growth of the vascular access device market in the forecast period.

North America is expected to dominate the overall Vascular Access Device Market:

North America is expected to dominate the overall vascular access device market during the forecast period. This domination is due to the growing demand for advanced technologies in vascular access devices, the rising need to treat patients suffering from chronic and infectious diseases, and increasing product development activities in the region among others. The statistics cited by the American Cancer Society, in 2023, stated that about 82,290 new cases of bladder cancer (about 62,420 in men and 19,870 in women will be reported in the US.

According to the Centre for Disease Control and Prevention (CDC) 2020, Cystic fibrosis (CF), a genetic disorder that causes problems with breathing and digestion affects about 35,000 people in the United States, every year on average. In addition, people suffering from cystic fibrosis need intravenous (IV) antibiotic treatments for more than just a few days, such as during an exacerbation, which could potentially raise the demand for vascular access devices such as PICCs and others.

Also, a rise in hospital enrolment due to a surge in infectious diseases that require the administration of medications in the veins will contribute to the vascular access devices market growth.

For instance, according to CDC 2022, it was estimated that around 1,189,700 people aged 13 and above had HIV in the US in 2019.

Moreover, continuous regulatory approvals in the region are likely to boost the demand for vascular access devices in the coming years. For example, in March 2020, the Biowy PICC-S kit received 510(k) clearance from the US FDA.

Therefore, along with the presence of a large patient pool in the country, the increasing focus of key manufacturers on launching new products in the market is expected to bolster the growth of the vascular access device market in the United States during the forecast period.

Vascular Access Device Market Key Players:

Some of the key market players operating in the vascular access device market include Cook Medical Inc., Becton, Dickinson, and Company, Teleflex Incorporated, Medtronic PLC, Zoll Medical Corporation, B Braun Melsungen AG, Prodimed, Amecath Medical Technologies, Terumo Medical Corporation, AngioDynamics, Edwards Lifesciences Corporation, C. R. Bard, Inc., Smiths Group PLC, Nipro Medical Corporation, and others.

Recent Developmental Activities in the Vascular Access Device Market:

In August 2021, PuraCath Medical™, a venture-backed startup company focusing on the development of technologies to reduce infections in patients with intravascular catheters, announced that it has received 510(k) clearance for its FireFly™ Needleless Connector from the US Food and Drug Administration (FDA). The Firefly™ Needleless Connector is a sterile single-patient-use connector for needleless access to the IV line and IV catheter during IV therapy and can be used for direct injection, intermittent infusion, continuous infusion, or aspiration. This regulatory determination by the FDA gives PuraCath clearance to market the FireFly™ needleless connector in the US.

In July 2021, Artio Medical, Inc., a medical device company developing innovative products for the peripheral vascular, neurovascular, and structural heart markets, announced it has completed enrolment in its first-in-human study evaluating the company's Amplifi™ Vein Dilation System. The Amplifi System is designed to stimulate arm vein enlargement in hemodialysis patients using rapid, non-pulsatile venous blood flow. A novel vein dilation system aims to improve vascular access for hemodialysis patients.

Key Takeaways from the Vascular Access Device Market Report Study

Market size analysis for current market size (2023), and market forecast for 6 years (2024 to 2030)

Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies are dominating the vascular access device market.

Various opportunities are available for the other competitor in the vascular access devices market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for vascular access devices market growth in the coming future?

Target audience who can be benefited from this Vascular Access Device Market Key Report Study

Vascular access devices providers

Research organizations and consulting companies

Vascular Access Devices related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders in vascular access devices

Various end-users want to know more about the vascular access devices market and the latest technological developments in the vascular access devices market

Frequently Asked Questions for Vascular Access Device Market:

1. What are Vascular Access Device?

Vascular access device are types of equipment that are inserted inside the body through a vein to enable the administration of fluids, blood products, medication, and other therapies to the bloodstream. These devices allow repeated and long-term access to the bloodstream for frequent or regular administration of drugs, like intravenous (IV) antibiotics. The vascular access tubes are made of silicone, latex, and other substances.

2. What is the market for vascular access device?

The vascular access devices market was valued at USD 4.59 billion in 2023, growing at a CAGR of 6.64% during the forecast period from 2024 to 2030, to reach USD 6.75 billion by 2030.

3. What are the drivers for vascular access device?

The major drivers driving the demand for vascular access devices are the growing prevalence of chronic diseases like cancer, kidney failure, and heart diseases that requires the use of these devices. Some other factors like a rise in the number of chemotherapies, lifestyle diseases, and their rising occurrence in pediatric patients, technological advancements in product portfolio coupled with the rising number of product launches and approvals are going to assist in the growth of the vascular access devices market.

4. What are the key players operating in vascular access devices?

Some of the key market players operating in the vascular access devices market include Becton, Dickinson, and Company, Teleflex Incorporated, Medtronic PLC, Zoll Medical Corporation, B Braun Melsungen AG, Prodimed, Amecath Medical Technologies, Terumo Medical Corporation, AngioDynamics, Edwards Lifesciences Corporation, C. R. Bard, Inc., Smiths Group PLC, Nipro Medical Corporation, and others.

5. What regions have the highest share in the vascular access devices market?

North America is expected to dominate the overall vascular access devices market during the forecast period, 2024 to 2030. This domination is due to the increasing number of patients with chronic and infectious diseases in the region, the presence of key players, the surge in product development activities, proper reimbursement, and others.