The global vascular access device Market size was estimated to be USD 1.88 billion in 2023 and is expected to reach at USD 3.55 billion by 2034 with a CAGR of 5.97% during the forecast period 2024-2034. Increasing chronic disease prevalence such as cancer, kidney failure, & heart diseases, growing geriatric population, rising demand for vascular access devices in pediatrics for several indications, surge in launch new products, increasing technological advancements, growing demand for early diagnosis of the disease, and rising approvals of advanced catheter devices by regulatory bodies are some of the key factors boosting the market growth.
Rising approvals of advanced catheter devices by regulatory bodies is predicted to boost the market growth during the forecast period. Vascular access devices are frequently a necessary tool for administering medications, nutritional requirements, or antibacterial infusions. Adequate vascular access is crucial for cancer patients since it is necessary for the first stages of surgical or chemotherapeutic therapy, as well as for continued management of advanced illness and in the context of palliative care. For instance, in May 2022, Shockwave Medical has obtained regulatory clearance from the US Food and Drug Administration (FDA) as well as the CE mark, allowing them to make the Shockwave M5+ peripheral intravascular lithotripsy (IVL) catheter available for commercial use.
By device, peripheral vascular access devices was the highest revenue-grossing segment in the global vascular access device market in 2023 owing to the increasing approvals by regulatory bodies and rising initiatives by major market players. For instance, in September 2022, The Association for Vascular Access (AVA) and B. Braun Medical Inc. (B. Braun) have jointly introduced the Fundamentals of Peripheral IV Access eLearning Programme. This comprehensive eLearning program comprises a variety of in-depth certificate courses centered on fundamental and advanced concepts in vascular access and patient outcomes. Additionally, the curriculum includes a specific course on neonatal and pediatric peripheral intravenous insertion and care. Additionally, central vascular access devices is predicted to grow at fastest CAGR during the forecast period owing to the growing technological advancements and surge in launch of innovative products.
By application, administration of drugs was the highest revenue-grossing segment in the global vascular access device market in 2023 owing to the increasing usage of vascular access devices for drug administration for the treatment of cancer, infections, & other diseases, rising demand of advanced catheters for a variety of functions including administering drugs, drawing blood, & specialized treatments such as hemodialysis, and growing launch of innovative products. For instance, in July 2022, B. Braun Medical Inc. (B. Braun) has released the Introcan Safety 2 IV Catheter, featuring one-time blood control, as part of their ongoing efforts to enhance the safety of IV access for healthcare professionals. This innovation aims to minimize the chances of needlestick injuries and blood exposure, prioritizing clinician safety. Additionally, diagnostics and testing is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of chronic diseases, growing technological advancements, and increasing focus on development of advanced vascular assist devices for the early disease diagnosis.
By end-user, hospitals was the highest revenue-grossing segment in the global vascular access device market in 2023 owing to the presence of highly skilled & experienced healthcare staff at hospitals, surge in number of dialysis clinics & hospitals, and increasing approvals by regulatory bodies. For instance, in May 2022, Access Vascular, Inc. (AVI) has obtained FDA 510(k) clearance for its HydroPICC Dual-Lumen catheter. This catheter is made from the same hydrophilic biomaterial as AVI's single-lumen HydroPICC and HydroMID® catheters. Recent studies have demonstrated a notable decrease in complications like occlusions, replacements, Deep Vein Thrombosis, and phlebitis associated with these devices. Additionally, ambulatory care centers is predicted to grow at fastest CAGR during the forecast period owing to the growing adoption of technologically advanced products and rising healthcare infrastructure.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in favorable reimbursement policies, rising government expenditure for the development of cutting-edge medical devices, growing prevalence of cardiovascular diseases, increasing research & clinical trials for vascular access devices, surge in launch of advanced products, and rising partnerships & collaborations within market players. For instance, in February 2022, Access Vascular, Inc (AVI) has revealed a collaboration with Healthcare Insights (HCIS) aimed at creating a value-based care initiative. This program is intended to offer comprehensive support to hospital clients as they incorporate AVI's innovative biomaterial-based catheters, with the goal of improving both medical and financial outcomes in vascular access procedures. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing technological advancements, rising approvals of innovative products by regulatory bodies, growing prevalence of chronic diseases, and surge in partnerships within market players. For instance, in April 2023, Guangdong Hicicare Science and Zylox-Tonbridge Medical Technology have entered into a strategic partnership to streamline the sale of vascular guidewire devices in China through a joint branding effort. Through the introduction of products tailored to the neuro and peripheral-vascular interventional device market sectors, this collaboration aims to offer state-of-the-art vascular access solutions to medical professionals and patients in China.
Rising approvals of advanced catheter devices by regulatory bodies is predicted to boost the market growth during the forecast period. Vascular access devices are frequently a necessary tool for administering medications, nutritional requirements, or antibacterial infusions. Adequate vascular access is crucial for cancer patients since it is necessary for the first stages of surgical or chemotherapeutic therapy, as well as for continued management of advanced illness and in the context of palliative care. For instance, in May 2022, Shockwave Medical has obtained regulatory clearance from the US Food and Drug Administration (FDA) as well as the CE mark, allowing them to make the Shockwave M5+ peripheral intravascular lithotripsy (IVL) catheter available for commercial use.
By device, peripheral vascular access devices was the highest revenue-grossing segment in the global vascular access device market in 2023 owing to the increasing approvals by regulatory bodies and rising initiatives by major market players. For instance, in September 2022, The Association for Vascular Access (AVA) and B. Braun Medical Inc. (B. Braun) have jointly introduced the Fundamentals of Peripheral IV Access eLearning Programme. This comprehensive eLearning program comprises a variety of in-depth certificate courses centered on fundamental and advanced concepts in vascular access and patient outcomes. Additionally, the curriculum includes a specific course on neonatal and pediatric peripheral intravenous insertion and care. Additionally, central vascular access devices is predicted to grow at fastest CAGR during the forecast period owing to the growing technological advancements and surge in launch of innovative products.
By application, administration of drugs was the highest revenue-grossing segment in the global vascular access device market in 2023 owing to the increasing usage of vascular access devices for drug administration for the treatment of cancer, infections, & other diseases, rising demand of advanced catheters for a variety of functions including administering drugs, drawing blood, & specialized treatments such as hemodialysis, and growing launch of innovative products. For instance, in July 2022, B. Braun Medical Inc. (B. Braun) has released the Introcan Safety 2 IV Catheter, featuring one-time blood control, as part of their ongoing efforts to enhance the safety of IV access for healthcare professionals. This innovation aims to minimize the chances of needlestick injuries and blood exposure, prioritizing clinician safety. Additionally, diagnostics and testing is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of chronic diseases, growing technological advancements, and increasing focus on development of advanced vascular assist devices for the early disease diagnosis.
By end-user, hospitals was the highest revenue-grossing segment in the global vascular access device market in 2023 owing to the presence of highly skilled & experienced healthcare staff at hospitals, surge in number of dialysis clinics & hospitals, and increasing approvals by regulatory bodies. For instance, in May 2022, Access Vascular, Inc. (AVI) has obtained FDA 510(k) clearance for its HydroPICC Dual-Lumen catheter. This catheter is made from the same hydrophilic biomaterial as AVI's single-lumen HydroPICC and HydroMID® catheters. Recent studies have demonstrated a notable decrease in complications like occlusions, replacements, Deep Vein Thrombosis, and phlebitis associated with these devices. Additionally, ambulatory care centers is predicted to grow at fastest CAGR during the forecast period owing to the growing adoption of technologically advanced products and rising healthcare infrastructure.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in favorable reimbursement policies, rising government expenditure for the development of cutting-edge medical devices, growing prevalence of cardiovascular diseases, increasing research & clinical trials for vascular access devices, surge in launch of advanced products, and rising partnerships & collaborations within market players. For instance, in February 2022, Access Vascular, Inc (AVI) has revealed a collaboration with Healthcare Insights (HCIS) aimed at creating a value-based care initiative. This program is intended to offer comprehensive support to hospital clients as they incorporate AVI's innovative biomaterial-based catheters, with the goal of improving both medical and financial outcomes in vascular access procedures. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing technological advancements, rising approvals of innovative products by regulatory bodies, growing prevalence of chronic diseases, and surge in partnerships within market players. For instance, in April 2023, Guangdong Hicicare Science and Zylox-Tonbridge Medical Technology have entered into a strategic partnership to streamline the sale of vascular guidewire devices in China through a joint branding effort. Through the introduction of products tailored to the neuro and peripheral-vascular interventional device market sectors, this collaboration aims to offer state-of-the-art vascular access solutions to medical professionals and patients in China.
Segmentation: Vascular Access Device Market Report 2022 - 2033
Vascular Access Device Market Analysis & Forecast by Device 2023 - 2034 (Revenue USD Bn)
- Peripheral Vascular Access Devices
- Midline Catheter
- Peripheral Catheter
- Other
- Central Vascular Access Devices
- Percutaneous Non-tunneled Catheters
- Peripherally Inserted Central Catheters
- Others
Vascular Access Device Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Administration of Fluid and Nutrition
- Administration of Drugs
- Diagnostics and Testing
- Others
Vascular Access Device Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Ambulatory Care Centers
- Hospitals
- Others
Vascular Access Device Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Vascular Access Device Market: Device Estimates & Trend Analysis
8. Vascular Access Device Market: Application Estimates & Trend Analysis
9. Vascular Access Device Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Vascular Access Device Market
12. Europe Global Vascular Access Device Market
13. Asia Pacific Global Vascular Access Device Market
14. Latin America Global Vascular Access Device Market
15. MEA Global Vascular Access Device Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Smith’s Medical (ICU Medical
- Inc)
- Teleflex Medical
- Cook Medical
- Medical Components Inc.
- B. Braun
- Cook Medical
- Medtronic
- BD
- Access Vascular Inc.
- Terumo Medical Corporation
- AngioDynamics
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 1.88 Billion |
| Forecasted Market Value ( USD | $ 3.55 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
