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Europe Vascular Access Device Market- Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2027)

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  • 111 Pages
  • June 2022
  • Region: Europe
  • Mordor Intelligence
  • ID: 5617081
UP TO OFF until Dec 31st 2023
The Europe Vascular Access Device Market is projected to register a CAGR of 2.5% during the forecast period 2022 - 2027.

COVID-19 has impacted the demand for medical devices in many different ways. While the devices used to treat COVID-19 patients in intensive care have seen a spike in demand, other devices have been negatively affected due to postponed or cancelled procedures. For instance, as per the European Medical Agency in 2021, the highest category for those like HIV or hepatitis tests would be allowed a period until 2025 or 2026. Lower class devices would have an allowance until May 2027. Although most devices shortages are generally handled at the national level, the EMA (European Medicines Agency) is acting as a central coordinator during the COVID-19 pandemic, assisting the Member States in preventing and minimizing supply disruptions.

Over the past decade, there has been a rise in the prevalence of several chronic diseases that need vascular access treatment. Some of the major chronic diseases include cancer, kidney failure, and heart diseases, among others. Along with these, there are several lifestyle disorders relating to chronic and non-communicable disease conditions, such as hypertension, diabetes, obesity, and depression, among others, which need critical care during their hospitalization. For instance, according to the Global Cancer Statistics 2020, Europe is responsible for 22.8% of all cancer cases and 19.6% of cancer deaths worldwide. These are some of the key factors attributing to the growth of the European Vascular Access market.

Market growth is expected to be limited by pricing pressures across Europe. European healthcare facilities often trend towards lower-cost products, which forces many competitors to lower their prices. Furthermore, preferences for high cost, premium-priced versions of products, such as those with antimicrobial coatings, is still developing in many markets. As such, premiums on many of these devices are still being kept low and, therefore, there is not a significant upward force on the market from conversion to these products.

Key Market Trends

Administration of Drugs is Expected to Show a Large Share in the Application Segment

The drug administration segment is estimated to account for the largest share of the market as 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. Catheters are used for a variety of functions, including administering drugs, drawing blood, and specialized treatments like hemodialysis. Vascular access catheters can be inserted either peripherally in a patient’s arm or centrally, such as in the patient’s jugular.

As per the European Kidney Alliance in 2021, a staggering 75 million people suffer from Chronic kidney disease in Europe whilst the worldwide frequency has been estimated to 700-800 million people, with a projection that Chronic kidney disease will become the 5th cause of death globally in 2040. For patients with chronic kidney disease requiring central venous access, therefore the increase in prevalence of chronic kidney disease have contributed to the segment's strong growth.

Germany is Expected to Hold a Significant Share in the Europe Vascular Access Device During Forecast Period

Germany is one of the major economies in the European region with high healthcare expenditure and a technologically advanced healthcare system. The vascular access device market is expected to grow in Germany at a significant pace due to increase in the cardiovascular diseases, the growing demand for minimally invasive surgeries and technological advancements increases.

Cardiovascular diseases are the leading cause of death in the Europe. In addition, they are associated with significant health consequences for the individual and result in high medical costs for society. According to Eurostat 2021 report, in 2019 approximately 45,398 heart bypasses were conducted in Germany. Germany recorded the highest number of operations, and this was the fourth highest frequency when taking account of the population size (54.6 per 100000 inhabitants).

Therefore, the growing demand for minimally invasive surgeries and technological advancements is expected to drive the market in the near future.

Competitive Landscape

The Europe vascular access devices market is highly competitive and there are several small to mid-sized companies that are posing strong competition to gain the market share. However, few companies that are doing a good business in the market include Smiths Medical, Inc., B.Braun Melsungen Ag, Prodimed, Becton, Dickinson and Company, Teleflex Incorporated, Edwards Lifesciences Corporation, AngioDynamics, Terumo Medical Corporation, 3M, Nipro Medical Corporation

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Table of Contents

1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing prevalence of Chronic Disease
4.2.2 Increasing Number of Chemotherapy Procedures with High Hospitalization Rates
4.2.3 Rising Use of Vascular Access Devices among Paediatric Patients
4.3 Market Restraints
4.3.1 Risks Associated with Catheter Usage
4.3.2 Stringent Regulations and Product Recalls
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 By Device Type
5.1.1 Central Vascular Access Devices Peripherally Inserted Central Catheters Percutaneous Non-tunneled Catheters Other Central Vascular Access Devices
5.1.2 Peripheral Vascular Access Devices Peripheral Catheter Midline Catheter Other Peripheral Vascular Access Devices
5.2 By Application
5.2.1 Administration of Drugs
5.2.2 Administration of Fluid and Nutrition
5.2.3 Diagnostics and Testing
5.2.4 Other Applications
5.3 By End User
5.3.1 Hospital/Clinic
5.3.2 Diagnostic Centers
5.3.3 Other End Users
5.4 Geography
5.4.1 Germany
5.4.2 United Kingdom
5.4.3 France
5.4.4 Italy
5.4.5 Spain
5.4.6 Rest of Europe
6.1 Company Profiles
6.1.1 Smiths Medical, Inc.
6.1.2 B.Braun Melsungen Ag
6.1.3 Prodimed
6.1.4 Becton, Dickinson and Company
6.1.5 Teleflex Incorporated
6.1.6 Edwards Lifesciences Corporation
6.1.7 AngioDynamics
6.1.8 Terumo Medical Corporation
6.1.9 3M
6.1.10 Nipro Medical Corporation
6.1.11 Baxter International Inc.
6.1.12 Fresenius Medical Care AG & Co. KGaA

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Smiths Medical, Inc.
  • B.Braun Melsungen Ag
  • Prodimed
  • Becton, Dickinson and Company
  • Teleflex Incorporated
  • Edwards Lifesciences Corporation
  • AngioDynamics
  • Terumo Medical Corporation
  • 3M
  • Nipro Medical Corporation
  • Baxter International Inc.
  • Fresenius Medical Care AG & Co. KGaA