Global Vascular Access Devices Market Anticipated to Reach US$ 14,211.5 Million by 2031

According to a recent market study published by Growth Market Reports, titled, “Global Vascular Access Devices Market By Product Type, By Lumen Type (PICC), By Dimensions (PICC), By Patient Type (PICC), By Application, By End-user, By Mode of Insertion, and By Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at US$ 7,349.5 Million in 2022 and is anticipated to expand at a growth rate of 7.8 % by 2032.

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A vascular access device (VAD) is a medical device that opens a patient's veins so that extracorporeal therapies including apheresis, infusion therapy, and intravenous (IV) drug delivery can occur. Peripherally inserted central catheters (PICCs), implanted ports, peripheral venous catheters (PVCs), and central venous catheters (CVCs) are among the different kinds of VADs.

The length of medicine administration, the patient's anatomy, and the environment all influence the selection of these devices, which can be either short- or long-term.

The global Vascular Access Devices market has been segmented in terms of product, lumen, dimensions, patient, application, end-user, and mode of insertion. In terms of product, the global vascular access devices market is segregated into peripheral, central, and accessories. Based on the lumen type, the market is fragmented into single lumen, dual lumen, and triple lumen. In terms of dimensions, the market is segregated into 1-Fr, 1.9-Fr, 3-Fr, 4-Fr, 5-Fr, 6-Fr, and others. In terms of patients, the global vascular access devices market is divided into kids and adults. On the basis of application, the market is fragmented into administration of fluid & nutrition, transfusion of blood products, diagnostics & testing, administration of drugs, and others. On the basis of end-user, the market is fragmented into hospitals, ambulatory care centers, diagnostic centers, and others. In terms of mode of insertion, the market is bifurcated into intravenous and subcutaneous.

Considering regions, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The COVID-19 pandemic has had a major effect on medical diagnostics in particular inside the healthcare sector. The decline in surgical volume significantly hampered the market during COVID-19. Moreover, according to the study titled ‘Patterns of vascular access device use and thrombosis outcomes in patients with COVID-19: a pilot multi-site study of Michigan hospitals’ published in May 2022, patients who had COVID-19 were at a high risk of venous thromboembolism (VTE). Moreover, 10.0% of COVID-19 hospitalized patients in Michigan, the US, who had vascular access devices were diagnosed with Venous thromboembolism VTE incident. Thus, vascular access devices increased the risk of VTE in COVID-19 patients thus hampering the market during the COVID-19 pandemic.

Key Takeaways from the Study:

• Players in the global Vascular Access Devices market include BD; Teleflex Incorporated; B. Braun SE; Medtronic; Terumo Corporation; ICU Medical, Inc; Vygon; AngioDynamics; Medical Components, Inc.; Romsons; Deltamed; NIPRO; Cook Group; AMECATH; Access Vascular, Inc.; PRODIMED.

• Based on product type, the global vascular access devices market is segmented into peripheral, central, and accessories.

• Peripheral devices typically carry a lower risk of complications such as infections. The risk of damage to deep structures is minimized, as these devices are inserted into smaller, more superficial veins. Moreover, the central segment held a 41.5% value share of the market in 2022 and is expected to expand at a CAGR of 8.19% during the forecast period. Central devices are designed for long-term access, making them suitable for patients who require repeated or prolonged treatments such as chemotherapy, long-term antibiotic therapy, and total parenteral nutrition (TPN).

• Based on lumen type (PICC), the global vascular access devices market is segmented into single lumen, dual lumen, and triple lumen. The triple lumen segment held XX% share of the market in 2022 and is expected to expand at a CAGR of XX% during the forecast period. Triple-lumen PICCs allow for the simultaneous administration of multiple medications or fluids through separate lumens. This capability is particularly beneficial for patients requiring complex medication regimens or concurrent therapies, such as chemotherapy and antibiotic treatment.

• Based on dimensions (PICC), the global vascular access devices market is segmented into 1-Fr, 1.9-Fr, 3-Fr, 4-Fr, 5-Fr, 6-Fr, and others. The 3 Fr segment held a XX% value share of the market in 2022 and is expected to expand at a CAGR of XX% during the forecast period. Smaller diameter catheters have better patency rates as compared to larger ones, as they are less likely to cause endothelial damage or thrombosis. This results in improved catheter function and longevity, reducing the need for catheter replacements and associated risks. The 3 Fr dimension PICC is mostly suitable for adults with small or difficult-to-access veins. In certain clinical situations, such as oncology or critical care, where vascular access may be challenging, a 3 Fr PICC can provide a reliable option for intravenous therapy.

• Based on patient type (PICC), the global vascular access devices market is bifurcated into kids and adults. The adult segment held a 51.1% share of the market in 2022 and is expected to expand at a CAGR of 9.4% during the forecast period. The global population is aging with a high proportion of adults in older age groups. Older adults are likely to require long-term medical treatments, such as chemotherapy, parenteral nutrition, or antibiotics, which often necessitate the use of PICCs. For instance, according to the United Nations, in 2020, more than 147 million people around the world were between the ages of 80-99, accounting for 1.9% of the global population.

• Based on application, the global vascular access devices market is segmented into administration of fluid & nutrition, transfusion of blood products, diagnostics & testing, administration of drugs, and others. The transfusion of blood products segment held an XX% value share of the market in 2022 and is expected to expand at a CAGR of XX% during the forecast period. The rising number of surgical procedures, including major surgeries, trauma cases, and organ transplants, often necessitates the transfusion of blood products to manage perioperative bleeding and restore hemostasis. This drives the demand for vascular access devices to facilitate blood product transfusion during and after surgical interventions.

• Based on end-user, the global vascular access devices market is segmented into hospitals, ambulatory care centers, diagnostic centers, and others. The ambulatory care centers segment held an XX% value share of the market in 2022 and is expected to expand at a CAGR of XX% during the forecast period, owing to the increasing trend of outpatient surgeries. Surgeries done in ambulatory settings cost much less than in hospitals, which leads to the increased focus of patients toward it. For instance, in the US, a gallbladder surgery at a hospital usually costs USD 12,000, whereas the identical procedure at a surgical center costs USD 2,200.

• Based on the mode of insertion, the global vascular access devices market is bifurcated into intravenous and subcutaneous. The subcutaneous segment held XX% value share of the market in 2022 and is expected to expand at a CAGR of XX% during the forecast period. Subcutaneous VADs offer greater comfort and freedom of movement for patients as compared to intravenous (IV) access. This is particularly appealing for patients undergoing long-term therapies or those requiring frequent medication administration. The lack of direct connection to a vein allows for greater flexibility and reduces restrictions on daily activities.

• Based on regions, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Europe held 27.8% market share in 2022 and the market in the region is expected to expand at a CAGR of 7.4% during the forecast period. The market growth in the region is attributed to the growing preference for minimally invasive procedures over traditional surgical methods, due to reduced patient discomfort, shorter hospital stays, and faster recovery times, which drives the adoption of vascular access devices.

Key Developments

• In July 2022, BD announced its acquisition of Parata Systems. Parata Systems advances the company’s transformative solutions strategy by providing a portfolio of innovative pharmacy automation solutions that power a growing network of pharmacies to reduce costs, enhance patient safety, and improve the patient experience for retail, hospital, and long-term care pharmacies.

Report Scope:

Target Audience:

• Supply-side: Manufacturers, End-users/Applications

• Regulatory Side: Concerned government authorities, and other approved regulatory bodies.

  • • United States Food and Drug Administration (FDA)

    • European Union (EU)

    • Medicines and Healthcare Products Regulatory Agency (MHRA)

    • National Research Foundation of Korea (NRF)

    • Others