Vascular Access Devices Market Size Outlook by 2030

[Research Report] The vascular access devices market was valued at US$ 5.62 billion in 2022 and is projected to reach US$ 10.29 billion by 2030. It is expected to register a CAGR of 7.9% during 2022–2030.

Market Insights and Analyst View:

Vascular access devices are placed using a number of anatomic sites to access the superior or inferior vena cava—internal jugular vein, subclavian vein, external jugular vein, and femoral vein. The growing vascular access devices market size is driven by the rising prevalence of chronic diseases and the rising need for chemotherapy procedures. In addition, strategic initiatives by companies to stay competitive in the market fuel the market growth. A significant increase in the use of AI-enabled robotic venous access devices is likely to bring new vascular access device market trends during the forecast period.

Growth Drivers and Challenges:

Chemotherapy is a primary treatment or adjuvant treatment used to shrink or eliminate tumors through the administration of powerful drugs. Thus, increasing cases of cancer fuel the demand for chemotherapy procedures. As per the estimates by the International Agency for Research on Cancer (IARC), 19.3 million new cancer cases were reported globally in 2020, and ~10 million deaths occurred due to the disease. According to the National Cancer Registry (NCR), in South Africa, about 110,000 new cancer cases were diagnosed, with over 56,000 cancer-related deaths in 2020. Moreover, the disease burden is projected to increase in the coming decades, with new cancer cases estimated to rise to 138,000 and 175,000 by 2030 and 2040, respectively, while cancer-related mortality will rise to 73,000 and 94,000 in the said years. Thus, the rising prevalence of cancer drives the vascular access devices market growth.

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Vascular Access Devices Market: Strategic Insights

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Report Segmentation and Scope:

The vascular access devices market analysis has been carried out by considering the following segments: product type, application, route of insertion, end user, and geography. The market, by product type, is segmented into short peripheral intravenous catheters, midline catheters, PICC (peripherally inserted central catheters), central catheters, implantable ports, and accessories. The market for the central catheter segment is further segmented into CICC (centrally inserted central catheter), FICC (femorally inserted central catheter), and others. Based on application, the vascular access devices market is segmented into drug administration, administration of fluid and nutrition, transfusion of blood products, and others.  Based on the route of insertion, the market is bifurcated into subcutaneous and intravenous. Based on end users, the market is segmented into hospitals and clinics, ambulatory surgical centers, and others. The scope of the vascular access devices market report entails North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, Japan, India, Australia, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Segmental Analysis:

The vascular access devices market, by product type is segmented into short peripheral intravenous catheters, midline catheters, PICC (peripherally inserted central catheters), central catheters, implantable ports, and accessories. The market for the central catheter segment is sub segmented into CICC (centrally inserted central catheter), FICC (femorally inserted central catheter), and others. In 2022, the short peripheral intravenous catheter segment accounted for the largest vascular access devices market share, and the same segment is expected to record the highest CAGR during 2022–2030.

Based on application, the vascular access devices market is segmented into drug administration, administration of fluid and nutrition, transfusion of blood products, and others. In 2022, the drug administration segment held the largest share and is projected to register the highest CAGR during 2022–2030.

Based on the route of insertion, the vascular access devices market is bifurcated into subcutaneous and intravenous. The intravenous segment held a larger market share in 2022 and is anticipated to record a higher CAGR during 2022–2030.

By end user, the market is segmented into hospitals and clinics, ambulatory surgical centers, and others. The vascular access devices market for the hospitals and clinics segment is likely to grow during 2022–2030.

Regional Analysis:

North America is the biggest contributor to the global vascular access devices market growth. Asia Pacific is predicted to register the highest CAGR in the market during 2022–2030. North America held the largest share of the global market in 2022 owing to the growing prevalence of chronic disorders, increasing geriatric population, presence of key market players involved in new and existing product developments, and rising technological advancements. In North America, the US held the largest market share in 2022.

Vascular Access Devices Market Regional Insights

The regional trends and factors influencing the Vascular Access Devices Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Vascular Access Devices Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Vascular Access Devices Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Vascular Access Devices Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Vascular Access Devices Market are:

1. Teleflex Inc
2. BD
3. B. Braun SE
4. Terumo Medical Corporation
5. Medtronic

Disclaimer: The companies listed above are not ranked in any particular order.

Industry Developments and Future Opportunities:

The vascular access devices market forecast is estimated on the basis of various secondary and primary research findings such as key company publications, association data, and databases. According to the press releases published by the key market players, a few strategies are listed below:

• In November 2023, BD (Becton, Dickinson, and Company) launched new needle-free blood draw technology, which is compatible with integrated catheters, helping to enable the company's vision of a "One-Stick Hospital Stay." The PIVO Pro Needle-free Blood Collection Device features design improvements to achieve compatibility with integrated and long peripheral IV catheters, which include the new Nexiva Closed IV Catheter System with NearPort IV Access.
• In May 2023, Teleflex Inc. launched two new devices—Arrow VPS Rhythm DLX Device and NaviCurve Stylet—designed to enhance the PICC insertion procedures and reduce the chance of complications. The VPS Rhythm DLX Device provides real-time catheter tip location information by using the patient’s cardiac electrical activity. The NaviCurve Stylet features an anatomical curve and flexible tip that are designed to self-orient to patient anatomy for enhanced PICC advancement into the superior vena cava (SVC) for successful insertion.

Competitive Landscape and Key Companies:

Teleflex Inc, BD, B. Braun SE, Terumo Medical Corporation, Medtronic, Fresenius Kabi, Baxter, Vygon SAS, Kimal, and Access Vascular Inc are among the prominent players profiled in the vascular access devices market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. These companies focus on geographic expansions and new product launches to fulfill the growing demand from consumers across the world and increase their product range in specialty portfolios. Their global presence allows them to serve a large customer base, subsequently facilitating market expansion.