Vascular Access Device Market: Growth, Size, Share, and Trends

Market Growth Outlook Summary

The global vascular access device market, valued at US$5.2 billion in 2021, is forecasted to grow at a robust CAGR of 7.0%, reaching US$5.6 billion in 2023 and an impressive US$7.9 billion by 2028. Growth in this market is majorly driven by significant government investments in cutting-edge medical devices, and rising prevalence of lifestyle diseases. However, shortage of skilled professionals are expected to challenge market growth to a certain extent.

Global Vascular Access Device Market Trends

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Vascular Access Device Market Dynamics

Driver: Growing prevalence of lifestyle diseases

According to the World Health Organization 2021, Cardiovascular diseases (CVDs) are the leading cause of death globally. An projected 17.9 million people died from CVDs in 2019, representing 32 percent of all global deaths. Of these deaths, 85 percent were due to heart attack and stroke. For instance, according to World Heart Federation vision 2030, the number of CVD deaths is projected to rise from an estimated 18,9 million in 2020 to over 22,2 million in 2030 and 32,3 million in 2050.With the growing prevalence of diabetes, the number of patients suffering from chronic kidney disease is also expected to increase in the coming years, as diabetes is a major risk factor for CKD. The growing prevalence of these health conditions, particularly CKD and CVDs, is expected to support the growth of the market as tunneled and non-tunneled catheter devices are widely used in dialysis procedures and the treatment of various cardiovascular diseases.

Restraint: High costs involved in the placement and maintenance of vascular access device

Vascular access device are relatively costly devices and the price of the product changes with the type of vascular access device (VADs) used in a procedure. The average cost of a vascular access device varies from USD 150 to USD 900. Moreover, the physician price associated with the insertion of VADs varies from USD 20 to USD 90 per hour. The price of vascular access procedures rises in case of patient hospitalization, and complications such as central catheter bloodstream infections or occlusions can drastically rise the cost of the procedure. According to the Canadian Association of Nurses in Oncology, in the US, a central catheter bloodstream infection can shoot up procedure price to more than USD 25,000. These high placement and maintenance price for vascular access device (VADs) are expected to restrain market growth during the forecast period.

Opportunity: Technological advancements

Ultrasound is a broadly available, non-invasive technique and is thus the most broadly used vessel visualization method. As a cost-effective method, it allows the evaluation of vascular access maturity and diagnosis of complications; in the recent years, image-guided vascular access has emerged as a new, efficient method offering precise results. The use of ultrasound imaging during VAD insertion has become more common. It helps healthcare professionals visualize the veins in real-time, increasing the success rate of first-attempt insertions and reducing complications like accidental arterial punctures and hematoma formation.

Challenge: Shortage of skilled professionals

Skilled professionals are involved to handle vascular access device as their improper insertion may cause medical complications in patients. Complications like damage to blood vessels, bleeding at the site, entrance of air into the vein (air embolus), injury to the lung (pneumothorax), and bloodstream infections can happen during the usage of VADs. According to a survey on the latest business conditions conducted by the National Association for Business Economics (NABE), 35% of participants reported that there is a shortage of skilled professionals in the US. This shortage of skilled professionals in major markets across the globe is expected to affect the demand and uptake of VADs during the forecast period.

Vascular Access Device Market Ecosystem Map

By type, the central vascular access device segment is accounted for the largest share of the vascular access device industry during the forecast period

Based on type, within the vascular access device market, there are peripheral access device, central vascular access device, and accessories holding a significant portion. The central vascular access device segment is hold the largest share of the global vascular access devices market. This predominance is attributed to the wide usage of central vascular access device in chemotherapy and in the treatment of cardiovascular disorders and chronic kidney disorders.

The drug administration accounted for the largest share of the vascular access device industry during the forecast period, by application

Based on applications, vascular access device market is divided into segments including drug administration, fluid and nutrition administration, blood transfusion, and diagnostic & testing. The significant share of the drug administration segment can be attributed to various factors. These factors include high usage of vascular access device for drug administration, particularly for the treatment of infections and cancer.

The hospitals segment accounted for the largest share of the vascular access device industry in 2022, by end user

Based on end users, the global vascular access device market categorized into hospitals, clinics & ambulatory centers, and other end users (nursing homes, laboratories, diagnostic & imaging centers, and home healthcare agencies). The dominance of this segment can be attributed to several significant factors. These factors include majority of vascular procedures are performed in hospital settings. Also, emergency care in hospitals requires VADs for blood transfusion and administration of various drugs.

North America to witness significant growth in the vascular access device industry from 2023 to 2028

On the basis of region, the global vascular access device market is segmented into-North America, Europe, Asia Pacific, and Rest of the World. In 2023, North America projected to lead market share of the vascular access device market. This can be attributed to the region benefits from the presence of key players, a supportive reimbursement framework, and significant government investments in cutting-edge medical devices.

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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).

Scope of the Vascular Access Device Industry

The study categories the vascular access device market to forecast revenue and analyze trends in each of the following submarkets:

By Type

• Central vascular access device
• Tunneled catheters
• Non-tunneled catheters
• Implanted ports
• Peripherally inserted central catheters
• Peripheral vascular access device
• Peripheral midlines devices
• Peripheral short devices
• Butterfly/winged steel needles
• Accessories

By Application

• Drug administration
• Fluid and nutrition administration
• Blood transfusion
• Diagnostics and testing

By End User

• Hospital
• Clinics and ambulatory care centers
• Other end users (home healthcare agencies, nursing homes, and diagnostic & imaging centers)

By Region

• North America
  • US
  • Canada
• Europe
  • France
  • Spain
  • UK
  • Italy
  • Germany
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Rest of APAC
• Rest of the World

Recent Developments of Vascular Access Device Industry

• In June 2023, Teleflex Incorporated (US) has been awarded two group purchasing agreements with Premier, Inc. The new agreements allow Premier members, at their discretion, to take advantage of special pricing and terms pre-negotiated by Premier for Teleflex’s Central Venous and Arterial Vascular Access products.
• In June 2022, Teleflex Incorporated (US) launched an Arrow Pressure Injectable Midline Catheter in Australia and New Zealand. The addition of the pressure injectable catheter further enhances the Midline portfolio to meet the expanded needs of clinicians and is designed to improve patient safety.
• In January 2022, ICU Medical, Inc. (US) completed its acquisition of Smiths Medical (US) from Smiths Group plc. The Smiths Medical business includes syringe and ambulatory infusion devices, vascular access, and vital care products. When combined with ICU Medical’s existing businesses, the combined companies establish a leading infusion therapy company with estimated pro forma combined revenues of approximately USD 2.5 billion.
• In July 2021, Becton, Dickinson and Company (US) acquired Velano Vascular (US). Velano Vascular needle-free technology enables high-quality blood draws from existing peripheral intravenous catheter (PIVC) lines. This acquisition can now enable health care providers to help eliminate multiple needlesticks for blood sample collection, reducing the pain and discomfort from the process while delivering quality outcomes and increased patient satisfaction.

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