Vascular Access Device Market - Technological Advancements to Bring Major Change

The report "Vascular Access Device Market by Type [Peripheral (Midline, Short), Central (PICC, Tunneled, Non-Tunneled, Implanted Ports), Accessories], Application (Drug Administration, Fluid & Nutrition Administration) & End Users - Global Forecasts to 2022", The global vascular access devices market is expected to reach USD 5.45 Billion by 2022 from USD 3.87 Billion in 2017, at a CAGR of 7.1%. 

Growth in this market can be attributed to factors such as the growing prevalence of lifestyle diseases, rising number of chemotherapy procedures and increasing use of vascular access devices in pediatric patients.

The central vascular access device segment to hold the largest share of the market in 2017

By type, the market segment is segmented into central vascular access devices, peripheral vascular access devices, and accessories. Central vascular access devices are expected to account for the largest share of the market in 2017. The growth of this segment is attributed to the wide usage of central vascular access devices in chemotherapy and for the treatment of cardiovascular disorders and chronic kidney disorders.

Target Audience:

# Vascular access device manufacturers and distributors
# Interventional cardiology vascular device manufacturers
# Research and consulting firms
# Healthcare institutions 
# Research institutes
# Vendors/service providers
# Niche companies manufacturing novel vascular access devices
# Research and consulting firms

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By end user, hospitals are expected to hold largest market share in 2017

Based on the end users, the market is segmented into hospitals, clinics and ambulatory care centers, and other end users. In 2017, the hospital segment is expected to dominate this market. The large share of this segment can be attributed to the fact that a majority of vascular procedures are performed in hospital settings.

By application, the drug administration segment is expected to dominate the market in 2017

Based on application, the market is broadly classified into drug administration, fluids and nutrition administration, blood transfusion, and diagnostics and testing. The drug administration segment is estimated to account for the largest share of the market in 2017, the growth of drug administration segment is attributed to the high usage of vascular access devices for drug administration for the treatment of infections, cancer, and other diseases.

Objectives of the Study:

# To define, describe, and forecast the vascular access devices market by type, application, end user, and region.

# To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).

# To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market.

# To analyze the opportunities for stakeholders and provide details of the competitive landscape for market leaders.

# To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

# To profile the key players and analyze their market shares and core competencies.

# To track and analyze competitive developments such as product launches, approval, agreements, collaborations, and acquisitions in the global market.

North America to hold the largest share of the market in 2017

North American segment is expected to account the largest share of the market in 2017. Market growth in this region is primarily driven by factors such as the high prevalence of cardiovascular diseases; increasing number of research studies and clinical trials for vascular access devices in the U.S.; and the increase in chemotherapy procedures. Moreover, the increasing number of cardiac arrest cases, an increase in the number of minimally invasive procedures and the increase in cancer incidences in Canada are other factors driving the growth of this market in this region.

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Some prominent players in the market include Becton Dickinson and Company (U.S), C.R.Bard, Inc. (U.S.), and Smiths Medical, Inc. (U.K.). Other players include Teleflex Incorporated (U.S.) B Braun Melsungen Ag (Germany), AngioDynamics (U.S.), Terumo Corporation (Japan), Nipro Medical Corporation, Edwards Lifesciences Corporation (U.S.), Ameco Medical (Egypt), Romsons Scientific & Surgical Pvt. Ltd (India), and Prodimed (France).

Becton Dickinson and Company (U.S.) dominated the global vascular access devices market in 2016. The company offers a comprehensive range of peripheral vascular access devices used in different application areas. It offers its vascular access devices products through its Medication and Procedural Solutions segment. To maintain its leading position in the market, and increase its customer base in the vascular access devices market, the company mainly focuses on acquisitions and agreements. 

C. R. Bard, Inc. (U.S.) held the second position in the global vascular access devices market in 2016. The company offers vascular access devices through its Oncology segment. The Oncology segment offers a wide range of implantable ports used in chemotherapy. The company has a strong foot hold in the United States, European and Asia-Pacific market. The company is to be acquired by Becton Dickinson and Company (U.S.) in 2017.

Smiths Medical, Inc. (U.K.) is another leading player in the market. The company focuses on organic growth strategies like product development. The company focuses on R&D as a part of its growth strategy. The revenue of the company was USD 1.2 billion in 2016 out which approximately 2-5% was spent on R&D.

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