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How Has the Vascular Access Devices Market Size Changed, over the years?
The market for vascular access devices has seen robust growth in the past few years. The market value is projected to increase from $5.74 billion in 2024 to $6.16 billion in 2025, yielding a compound annual growth rate (CAGR) of 7.2%. This historical growth trend is a result of factors such as the rise in chronic illnesses, an aging demographic, the expansion of healthcare infrastructure, an increase in surgical procedures, and improved awareness and training.
How Much Will the Vascular Access Devices Market Be Worth in 2029?
In the coming years, the market size for vascular access devices is predicted to experience robust growth, climbing to a value of $7.96 billion by 2029 at a compound annual growth rate (CAGR) of 6.6%. This expected increase in the forecast period can be tied to developments in the field of material science, the expansion of ambulatory care, the internationalization of healthcare services, as well as telemedicine, and concentrated efforts on infection control. Key trends projected within this timeframe include a heightened emphasis on infection prevention and the use of antimicrobial technologies, an increased demand for specialty vascular devices, prioritizing education and training for healthcare professionals, and cooperative strategies for product creation and expanding the market.
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Which is the Largest Company in the Vascular Access Devices Market?
Major companies operating in the vascular access devices market report are 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., Vygon USA
What Are the Main Market Drivers in the Vascular Access Devices Industry?
The increasing number of lifestyle diseases is likely to accelerate the expansion of the vascular access devices market. These diseases, also recognized as non-communicable diseases (NCDs) or chronic diseases, relate to health conditions predominantly driven by unhealthy lifestyle patterns and behaviors, as opposed to infections. Such diseases typically require sustained treatment and care, which necessitate the use of vascular access devices to safely and effectively administer medication and therapies. For instance, the World Health Organization reported in September 2022 that 41 million deaths occurred globally due to NCDs or chronic diseases, accounting for 74% of total deaths. This included 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Hence, the escalating occurrence of lifestyle diseases fuels the growth of the vascular access devices market.
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How Is the Vascular Access Devices Market Segments Structured?
The vascular access devices market covered in this report is segmented –
1) By Device Type: Central Vascular Access Devices, Peripheral Vascular Access Devices
2) By Application: Drug Administration, Fluid And Nutrition Administration, Blood Transfusion, Diagnostics And Testing
3) By End User: Hospitals, Clinics, Ambulatory Care Centers, Other End Users
Subsegments:
1) By Central Vascular Access Devices: Central Venous Catheters (CVC), Peripherally Inserted Central Catheters (PICC), Implantable Ports
2) By Peripheral Vascular Access Devices: Peripheral IV Catheters, Midline Catheters, Butterfly Needles
What Strategic Trends Are Transforming the Vascular Access Devices Market?
Main companies engaged in the vascular access devices market are amping up their focus on crafting more effective devices using cutting-edge technologies, such as TipTracker technology, to maintain a competitive advantage. TipTracker Technology offers real-time visual guidance, illustrating the catheter journey on a color monitor and assisting in verifying the final tip position. Case in point, Teleflex Incorporated, a US-based medical devices manufacturer, unveiled two novel devices – VPS Rhythm and DLX Device in May 2023. The inclusion of TipTracker technology obliterates the requirement for confirmatory X-rays, simplifying the PICC insertion procedure. Moreover, it improves PICC advancement into the superior vena cava (SVC) leading to successful insertion. The introduction of the VPS Rhythm and DLX Device enhances the value proposition for the company by promoting superior patient care, adding to treatment alternatives, boosting efficiency, and fostering medical advancements.
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Which Global Regions Offer the Highest Growth in the Vascular Access Devices Market?
North America was the largest region in the vascular access devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vascular access devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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This Report Delivers Insight On:
1. How big is the vascular access devices market, and how is it changing globally?
2. Who are the major companies in the vascular access devices market, and how are they performing?
3. What are the key opportunities and risks in the vascular access devices market right now?
4. Which products or customer segments are growing the most in the vascular access devices market?
5. What factors are helping or slowing down the growth of the vascular access devices market?
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