VANCOUVER, British Columbia, May 16, 2017 /PRNewswire/ -- According to a new series of reports on the Australia vascular access device market by iData Research (www.idataresearch.com), peripheral intravenous catheters (PIVCs) and dialysis catheters represent the fastest growing segments in the vascular access market in the region. The PIVC segment is growing as new technologies are coming to market that focus on reducing infection rates and making PIVCs safer and easier to use.
"The increasing prevalence of diseases and conditions that require long-term vascular access is driving the increased use of vascular access devices and is expected to be the main driving factor in the Australian market," explains Jeffrey Wong, Strategic Analyst Manager at iData Research. "However, significant pricing pressure due to the entry of new competitors and reductions in healthcare expenditures is leading to only slight growth in market value in the next several years."
While the markets for traditional devices such as peripheral inserted central catheters (PICCs) and central venous catheters (CVCs) are maturing, companies are actively investing in the development of new technological features that have maintained average selling prices (ASPs) for these devices. In the PIVC market, midline catheters are re-emerging as a viable alternative to short PIVCs when a longer dwell time is required.
The competition in this market has spurred companies to differentiate their products in order to gain market share. This has consistently led to unique, premium-priced products. Some of the new technology will strive to increase lumen number to allow for multiple functions with the same catheter. The more significant technological advancements will be in electrocardiogram (ECG) tip location. The increasing use of ultrasound has led to significant growth in the use of PICCs and PIVCs.
C.R. Bard, recently acquired by Becton Dickinson (BD), is the leading competitor in the Australian vascular access device and accessories market due to their strong market share in the implantable ports and PICCs market, but also held a significant share in the port needles market. The company is present in all of the vascular access segments, especially after their recent acquisition by BD.
Becton Dickinson has been extremely aggressive in their marketing and acquisition strategies in the vascular access market. In addition, the company continues to lead the way with new technologies, such as power-injectable devices. Bard in particular takes advantage of the crossover between market segments and has been able to increase their presence in the rapidly growing complementary markets. Moreover, Bard remains the only company in Australia with an ECG-based catheter tip confirmation, which is essential for efficient PICC placement. Additional competitors in this market include B. Braun, Smiths Medical, Teleflex, Cook Medical, Medcomp, Angiodynamics, Medtronic and Baxter among others.
For Further Information
More on the vascular access market in Australia can be found in a series of reports published by iData Research entitled the Australia Market Report Suite for Vascular Access Devices and Accessories. The market includes implantable ports, port needles, central venous catheters (CVCs), peripherally inserted central catheters (PICCs), peripheral intravenous catheters (PIVCs) and dialysis catheters.
The iData report series on vascular access devices covers the U.S., China, India, Japan, Australia, South Korea and 15 countries in Europe including Germany, France, the United Kingdom (U.K.), Italy, Spain, Benelux (Belgium, Netherlands and Luxemburg), Scandinavia (Finland, Denmark, Sweden and Norway), Portugal, Austria and Switzerland. Reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players' success strategies in each market and segment. To find out more about robotic surgery systems market data, register online or email us at firstname.lastname@example.org for an Australia Market Report Suite for Vascular Access Devices and Accessories brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting firm, dedicated to providing the best in business intelligence for the medical device industry. Our research empowers our clients by providing them with the necessary tools to achieve their goals and do it right the first time. iData covers research in: Vascular Access, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Robotics and Surgical Navigation, Laparoscopy, Urology, Gynecology, Endoscopy, Dental Operatory Equipment, Dental Material, Dental Lasers, Dental Prosthetics, Dental CAD/CAM, Dental Bone Graft Substitutes, Ophthalmics, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Operating Room Equipment, Surgical Microscopes, Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large & Small Joints, Anesthesiology, Wound Management, Orthopedics and more.
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SOURCE iData Research