Global Vascular Access Catheters Market to Reach $5.4 Billion by 2025 - A Comprehensive Industry Analysis Factoring in the Impact of COVID-19 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Global Vascular Access Catheters Market (2020-2025) by Device Type, Application, End-users, Geography and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Vascular Access Catheters Market is estimated to be USD 4.61 billion in 2020 and is expected to increase over the forecast period at a growth rate of 4.9% to reach USD 5.4 billion in 2025.
Market growth is attributed to the growing prevalence of lifestyle diseases, the rising number of chemotherapy procedures. These devices have been undergoing developments in terms of the technologies adopted making them non-invasive and thus being a suitable choice for the radiologists in the case of image analysis of vascular anatomy.
Factors such as their improved design are also contributing to the market growth. There has also been a rising demand for new vascular access accessories owing to concerns about catheter-related infections and complications.
The product-related recalls and failures, risks associated with catheter use, high costs involved in the placement and maintenance of vascular access devices, and strict regulations are some factors that hamper the market growth.
- Growing prevalence of lifestyle diseases
- Increasing number of chemotherapy procedures
- Increasing the use of vascular access devices in paediatric patients
- Rising medical tourism
- High costs involved in the placement and maintenance of vascular access devices
- Product recalls and failures
- Risks associated with catheter use
- Growth of Pharmaceutical Manufacturing in Emerging Economies
- Technological advancements in vascular access device and its designing
Along with the increasing rate of diagnosis, treatments, and therapies, the requirement for vascular access devices has also been on a rise. Due to developments in new techniques the vascular devices have become non-invasive and are thus being preferred by various radiologists for the analysis image of the vascular anatomy. Higher improvisation in the techniques and designs shall aid in the growth of the vascular access devices market in the estimated period.
The advancement in technology has made vascular devices available in the form of infusion delivery devices and systems. Factors such as a mounting rise in the number of lifestyle diseases and the high number of chemotherapy procedures are likely to catalyze the market growth for these devices.
The central vascular access devices segment is expected to account for the largest share of the vascular access devices market in 2020. Central vascular access devices are used in chemotherapy and for the treatment of cardiovascular disorders and chronic kidney disorders, further propelling its growth in the market. The type segment includes central vascular access devices, peripheral vascular access devices, and accessories.
The drug administration segment has the largest share of the market in 2020 among the other application areas like fluids and nutrition administration, blood transfusion, and diagnostics and testing. The reasons underlying the growth of this segment is due to the high usage of vascular access devices for drug administration in the various treatments, cancer, and other diseases.
North America is anticipated to have a large market share and is expected to grow significantly during the forecast period. Countries in Europe and Asia are also expected to grow at a higher rate due to investments in new techniques, high healthcare expenditure, and growing awareness in the healthcare sector.
The Global Vascular Access Catheters Market is segmented based on device type, application, and end-users.
Vascular Access Catheters Market, By Device Type
- Central Vascular Access Devices
- Peripheral Vascular Access Devices
Vascular Access Catheters Market, By Application
- Administration of Drugs
- Administration of Fluid and Nutrition
- Blood transfusion
- Diagnostics & testing
Vascular Access Catheters Market, By End Users
- Diagnostic Centres
- Other End Users
Vascular Access Catheters Market, By Geography
- North America
- South America
- Asia Pacific
- Middle East and Africa
- A complete analysis of the market including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
- Becton, Dickinson and Company
- Smiths Medical, Inc.
- C.R.Bard, Inc.
- Teleflex Incorporated
- B.Braun Melsungen AG
- Terumo Corporation
- Nipro Medical Corporation
- Edwards Lifesciences Corporation
- Ameco Medical
- Romsons Scientific & Surgical Pvt. Ltd.
- Baxter International Inc.
- Fresenius Medical Care
- Argon Medical Devices, Inc.
- Cook Medical
- Boston Scientific Corporation
- Vygon Ltd.
- Kimal Healthcare
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