The global vascular access device market is projected to reach USD 7.9 billion by 2028 from USD 5.6 billion in 2023, at a CAGR of 7.0% during the forecast period. Growth in the vascular access device market can primarily be attributed to factors such as the growing prevalence of lifestyle diseases, increasing number of chemotherapy procedures, and growing use of vascular access device in pediatric patients. However, the high cost involved in the placement and maintenance of vascular access device is expected to limit the growth of the vascular access device market to a certain extent during the forecast period.

In 2023, the central vascular access device segment is projected to account for the largest share of the vascular access device market
By type, vascular access device market is segmented into there are peripheral access device, central vascular access device, and accessories holding a significant portion. The central vascular access device segment is is projected to account for the largest share of the global vascular access device market in 2023. Factors such as broad usage of central vascular access device in chemotherapy and in the medication of cardiovascular disorders and chronic kidney disorders.

Drug administration is projected to account for the largest share of the vascular access device market in 2023
By application, vascular access device market is segmented into drug administration, fluid and nutrition administration,blood transfusion, and diagnostic & testing. The drug administration segment is is projected to account for the largest share of the global vascular access device market in 2023.Factors such as high use of vascular access device for drug administration, specially for the treatment of infections and cancer are driving the market growth.

By end user, hospitals accounted for the largest share of the market in 2022
By end users, vascular access device market is segmented into hospitals, clinics & ambulatory centers, and other end users (nursing homes, laboratories, diagnostic & imaging centers, and home healthcare agencies). In 2022, hospitals accounted for the largest market share. Factors suc as majority of vascular procedures are performed in hospital settings and also emergency care in hospitals needs VADs for blood transfusion and administration of various drugs.

By region, North America is projected to account for the largest share of the vascular access device market
By region,North America accounted for the largest share of the vascular access device market in 2023. Factors such as the presence of key players, a supportive reimbursement framework, and significant government investments in cutting-edge medical devices,rising healthcare costs, government initiatives, and an increase in disposable income are contributing to the market’s growth in North America.

Break of primary participants was as mentioned below:

  • By Company Type – Tier 1–55%, Tier 2–25%, and Tier 3–20%
  • By Designation – C-level–43%, Director-level–32%, Others–25%
  • By Region – North America–38%, Europe–23%, Asia Pacific–29%, Rest of the World- 10%

Key players in the vascular access device Market
The prominent players in this market are Becton, Dickinson and Company (US), ICU Medical, Inc. (US), Teleflex Incorporated (US), B. Braun SE (Germany), AngioDynamics, Inc. (US), Terumo Corporation (Japan), Nipro Medical Corporation (Japan), Medtronic (Ireland), Amecath (Egypt),Romsons (India), PRODIMED (France),Cook Medical (US), Access Vascular, Inc. (US), Medical Components, Inc. (US), Vygon (France), 3M (US), Argon Medical Devices (US), Guangdong Baihe Medical Technology Co., Ltd. (China), pfm medical (Germany), Medi-Tech Devices Pvt Ltd (India), Medline Industries, LP (US), Kimal (UK), Deltamed (Italy), Newtech Medical Devices (India) and Shanghai Puyi Medical Instruments Co., Ltd (China).

Research Coverage:
The report analyzes the vascular access device Market and aims at estimating the market size and future growth potential of this market based on various segments such as type, application and end user. The report also includes a product portfolio matrix of various vascular access device products available in the market. The report also provides a competitive analysis of the key players in this market, along with their company profiles, service offerings, and key market strategies.

Reasons To Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.

This report provides insights into the following pointers:

  • Analysis of key drivers (growing prevalence of lifestyle diseases,increasing number of chemotherapy procedures,increasing use of vascular access device in pediatric patients), restraints (high costs involved in the placement and maintenance of vascular access device,product recalls and failures), opportunities (technological advancements and growth in the number of hospitals) and challenges (Shortage of skilled professionals and risks associated with vascular access device) influencing the growth of vascular access device market.
  • Market Penetration: Comprehensive information on product portfolios offered by the top players in the global vascular access device Market. The report analyzes this market by type, applications and end user.
  • Service Enhancement/Innovation: Detailed insights on upcoming trends in the global vascular access device Market
  • Market Development: Comprehensive information on the lucrative emerging markets by applications, type and end user.
  • Market Diversification: Exhaustive information about new services or service enhancements, growing geographies, recent developments, and investments in the global vascular access device Market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, product and service offerings, company evaluation quadrant, and capabilities of leading players in the global vascular access device Market.