What are Vascular Access Devices?
Vascular access devices are types of equipment that are inserted inside the body through a vein to enable the administration of fluids, blood products, medication, and other therapies to the bloodstream. These devices allow repeated and long-term access to the bloodstream for frequent or regular administration of drugs, like intravenous (IV) antibiotics. The vascular access tubes are made of silicone, latex, and other substances.
What is the market for Global Vascular Access Devices?
Global Vascular Access Devices Market was valued at USD 4.31 billion in 2020, growing at a CAGR of 6.64% during the forecast period from 2021 to 2026, to reach USD 6.13 billion by 2026.
What are the drivers for Global Vascular Access Devices?
The major drivers driving the demand for Vascular Access Devices are the growing prevalence of chronic diseases like cancer, kidney failure, and heart diseases that requires the use of these devices. Some other factors like a rise in the number of chemotherapies, lifestyle diseases, and their rising occurrence in pediatric patients.
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What are the key players operating in Global Vascular Access Devices?
Some of the key market players operating in the Vascular Access Devices market include Becton, Dickinson, and Company, Teleflex Incorporated, Medtronic PLC, Zoll Medical Corporation, B Braun Melsungen AG, Prodimed, Amecath Medical Technologies, Terumo Medical Corporation, AngioDynamics, Edwards Lifesciences Corporation, C. R. Bard, Inc., Smiths Group PLC, Nipro Medical Corporation, and others.
What regions have the highest share in the Vascular Access Devices market?
North America is expected to dominate the overall Vascular Access Devices market during the forecast period, 2021 to 2026. This domination is due to the growing demand for advanced technologies in vascular access devices, the rising need to treat chronic kidney disease in the region is driving the regional growth.
Recent Developmental Activities in the Vascular Access Devices Market:
- In August 2021, PuraCath Medical™, a venture-backed startup company focusing on the development of technologies to reduce infections in patients with intravascular catheters, announced that it has received 510(k) clearance for its FireFly™ Needleless Connector from the US Food and Drug Administration (FDA). The Firefly™ Needleless Connector is a sterile single patient use connector for needleless access to the IV line and IV catheter during IV therapy and can be used for direct injection, intermittent infusion, continuous infusion, or aspiration. This regulatory determination by the FDA gives PuraCath clearance to market the FireFly™ needleless connector in the US.
- In July 2021, Artio Medical, Inc., a medical device company developing innovative products for the peripheral vascular, neurovascular, and structural heart markets, announced it has completed enrolment in its first-in-human study evaluating the company's Amplifi™ Vein Dilation System. The Amplifi System is designed to stimulate arm vein enlargement in hemodialysis patients using rapid, non-pulsatile venous blood flow. Novel vein dilation system aims to improve vascular access for hemodialysis patients.
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