Key Drivers and Opportunities in the Vascular Access Devices Market: Insights into Trends and Growth
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What is the Future CAGR of the Vascular Access Devices Market, and How Will It Impact Industry Expansion?
The market size for vascular access devices has seen substantial growth in the past few years. The market is expected to expand from $5.74 billion in 2024 to $6.16 billion in 2025, with a compound annual growth rate (CAGR) of 7.2%. This development in the past can be credited to the increasing number of chronic diseases, an aging population, improved healthcare infrastructure, a rise in surgical processes, and enhanced awareness and training.
The market size for vascular access devices is projected to expand robustly in the coming years, hitting $7.96 billion in 2029, demonstrating a compound annual growth rate (CAGR) of 6.6%. The growth predicted for this period is due to a number of factors including progress in material science, an increase in ambulatory care, the worldwide outreach of healthcare, telemedicine and remote control, with a particular focus on infection control. The major trends expected for this period primarily include attention towards the prevention of infections and the development of antimicrobial technologies, a rising demand for specialist vascular access devices, a focus on training and educating healthcare professionals, and cooperative efforts for the development of products and market growth.
What Strategic Factors Are Influencing the Accelerated Growth of the Vascular Access Devices Market?
The escalating incidence of lifestyle-related diseases is projected to accelerate the expansion of the vascular access devices market. These non-infectious health conditions, also known as chronic or non-communicable diseases (NCDs), mainly result from unhealthy lifestyle habits and choices. Given that these diseases often necessitate continuous treatment and care, vascular access devices become indispensable for the secure and effective administration of medications and therapies. For example, the World Health Organization, an intergovernmental organization based in Switzerland, reported in September 2022 that there were 41 million fatalities worldwide, accounting for 74% of all deaths annually due to NCDs or chronic diseases. This included 17.9 million deaths from cardiovascular diseases, 9.3 million due to cancer, 4.1 million related to chronic respiratory diseases, and 2.0 million from diabetes. As a result, the surging incidence of lifestyle diseases is fuelling the growth of the vascular access devices market.
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Which Key Players Are Shaping the Future of the Vascular Access Devices Market?
Major companies operating in the vascular access devices market report are:
• Medtronic PLC_x000D_
• Siemens Healthineers_x000D_
• Fresenius Medical Care AG & Co. KGaA_x000D_
• Becton Dickinson and Company (BD)_x000D_
• Baxter International Inc._x000D_
What Are the Most Significant Trends Transforming the Vascular Access Devices Market Today?
Leading companies in the vascular access devices market are intensifying their focus on crafting more effective devices utilizing cutting-edge technologies such as TipTracker technology to secure a competitive advantage. This technology offers live visual navigation and tracks the catheter’s pathway on a vivid color screen, aiding in affirming final tip placement. For instance, in May 2023, Teleflex Incorporated, an American medical devices manufacturer, introduced two novel devices, the VPS Rhythm and the DLX Device. These new devices, featuring TipTracker technology, remove the necessity for confirmatory X-rays, simplifying the process of PICC insertion. Furthermore, they assure improved advancement of PICC into the superior vena cava (SVC) for successful insertion. The introduction of the VPS Rhythm and DLX Device enhances the market by improving patient care, broadening treatment choices, boosting efficiency, and fostering technological advancements in medicine.
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What Are the Strategic Segments Comprising the Vascular Access Devices Market and Their Growth Contributions?
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 Regions Are Driving Expansion 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.
What Key Elements Shape the Definition of the 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.
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