Vascular Access Devices Market Size Worth $8.03 Billion By 2028 | Exclusive Study by Polaris Market Research

NEW YORK, May 5, 2021 /PRNewswire/ -- The global vascular access devices market is anticipated to reach USD 8.03 billion by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 7.4% from 2021 – 2028 Technological advancements in the development of medical devices coupled with a rise in the number of surgeries conducted across the globe requiring the use of advanced medical devices are making a higher impact on the market growth. In addition to this, increasing cases of blood transfusions, especially in major developed countries, and growing patient's need for central venous access during long-term intravenous therapy such as chemotherapy and antimicrobial therapy is further fostering the market growth. Furthermore, a rise in government spending for the improvement of healthcare infrastructure is expected to support market development in the longer run.

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Key Highlights of Vascular Access Devices Market

• Based on product, the central vascular access device segment contributed the largest revenue share in the vascular access devices market, owing to its high usage in the treatments of chemotherapy and cardiovascular disorders.
• In terms of application, the drug administration segment is dominating the market and is projected to follow the same trend during the forecast period. The segment's growth is attributed to the increasing application of advanced devices for effective drug administration during the treatment of cancer and other diseases.
• By end-use, the hospital market segment accounted for a higher market share and is expected to add more over the forecast period, on account of its increased adoption for a wide range of applications in hospital settings. The availability of adequate medical equipment and the presence of well-experienced medical professionals support the growth of this segment.
• The introduction of technological innovations by leading players for developing cost-effective medical devices is predicted to create lucrative growth opportunities in terms of increased product sales which will eventually result in higher revenue generation for market participants.

The demand for central vascular access devices was high in 2020. The central vascular access devices include tunneled catheters, non-tunneled catheters, peripherally inserted central catheters, implanted ports, and others. Implanted ports enable repeated and long-term access to the bloodstream usually over months to years

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Regional Developments

The regional market of North America is projected to account for the major share of the market as a result of the increasing prevalence of cardiovascular diseases and growing cases of cancer. Additionally, a rise in cases of lifestyle-related diseases and increasing clinical trials for vascular access devices in the region are further fostering the market growth.

Increasing geriatric population coupled with increasing awareness regarding preventive healthcare fuels growth in this region. Leading global players are expanding their presence in developing nations of China, Japan, India, and South Korea to tap the growth opportunities offered by these countries.

Competitive Outlook

Several major multinational medical device companies investing heavily in the research programs and launching advanced products, eventually acting as a key driver for the overall market development.

Some of the most prominent players holding a dominant position in the market include Smiths Medical, Inc., B Braun Melsungen AG, Terumo Corporation, Edwards Lifesciences Corporation, Romsons Scientific & Surgical Pvt. Ltd., Becton, Dickinson and Company, Baxter International, Teleflex Incorporated, Fresenius Medical Care AG & Co. KGaA, Siemens Healthineers AG, Nipro Medical Corporation, C.R.Bard, Inc., Navilyst Medical, Inc, Medtronic PLC, and Ameco Medical.

Target Audience

• Supply Side: Medical Device Manufacturer and Supplier
• Demand Side: Hospitals, Clinics, Diagnostics Centers
• Regulatory Side: World Health Organization

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Polaris Market Research has segmented the vascular access devices market report on the basis of device type, route of insertion, application, end-use, and region:

Vascular Access Devices Device Type Outlook (Revenue, USD Million, 2016 – 2028)

• Peripheral
• Midline Devices
• Peripheral Short Devices
• Others
• Central
• Tunneled Catheters
• Non-Tunneled Catheters
• Peripherally Inserted Central Catheters
• Implanted Ports
• Others
• Accessories

Vascular Access Devices Route of Insertion Outlook (Revenue, USD Million, 2016 – 2028)

• Intravenous
• Subcutaneous

Vascular Access Devices Application Outlook (Revenue, USD Million, 2016 – 2028)

• Administration of Fluid and Nutrition
• Transfusion of Blood Products
• Diagnostics and Testing
• Administration of Drugs
• Others

Vascular Access Devices End-Use Outlook (Revenue, USD Million, 2016 – 2028)

• Diagnostic Centers
• Hospitals
• Clinics
• Ambulatory Surgery Centers
• Others

Vascular Access Devices Regional Outlook (Revenue, USD Million, 2016 – 2028)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Spain
• RoE
• Asia Pacific
• China
• India
• Japan
• South Korea
• RoAPAC
• Latin America
• Brazil
• Mexico
• Colombia
• RoLATAM
• Middle East & Africa
• Saudi Arabia
• South Africa
• Israel
• UAE
• RoMEA

List of Key Players of Vascular Access Devices Industry

• Becton Dickinson and Company
• Smiths Medical Inc.
• C R Bard
• B. Braun
• Angiodynamics
• Terumo Corporation
• NIPRO medical Corporation
• Bluegrass Vascular Technologies
• Romsons Scientific & Surgical Pvt. Ltd
• Ameco Medical
• Prodi med   

*Note: Additional companies can be included on request

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