Vascular Access Devices Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

Vascular Access Devices Market Size

Vascular Access Devices Market Trends & Drivers

Increasing Use of Vascular Access Devices on Geriatric Patients Drives Market

The increasing geriatric population is the key driver for the vascular access devices industry globally. The number of people aged 60 years or above is expected to increase from 1,000 million in 2020 to 1,400 million by 2030 and more than 2,100 million by 2050. Further, the population aged 80 years or more is expected to triple between 2020 and 2050, to reach more than 420 million.

Moreover, developing countries, such as India and China, are expected to have a larger geriatric population compared to developed countries, including the U.S., France, Australia, and Canada. The number of people aged 60 years and above is expected to reach approximately 107 million in the U.S., 324 million in India, and 437 million in China by 2050.

This rising aging population across the globe would lead to an increase in the burden of health problems, many of which require the continuous use of peripheral venous catheters and other devices for fluid transfusions and other procedures involving the blood vessels.

The elderly population needs continuous and high-level care as its low immunity makes it susceptible to infections. Moreover, aged people have weakened body functions, leading to longer recovery periods in comparison to adults. This is why the elderly are especially susceptible to chronic diseases, such as cancer, diabetes, neurological disorders, and cardiovascular diseases, which leads to an increase in the demand for such devices, to offer effective care. Moreover, a lot of cases of cardiovascular diseases and cancer require surgeries at some point, which drives the use of intravenous catheters.

Increasing Volume of Surgeries Globally Propels Product Demand

The vascular access device market revenue is also increasing due to the rising prevalence of chronic and lifestyle-associated diseases, which results in a surge in the number of surgeries globally. During a vascular access procedure, a flexible, sterile, thin, plastic catheter is inserted into a blood vessel, to draw blood or deliver drugs, blood and blood products, and other agents into the bloodstream, over weeks, months, or even years.

Nearly half the population suffers from at least one chronic illness, including cardiovascular disorders, which may require surgery at some point, depending on severity. Moreover, diabetes is another major chronic disease, which leads to diabetic foot ulcers in most cases. These ulcers require management by surgeries, to prevent the maceration of the surrounding tissue. Globally, the volume of surgeries conducted each year is over 300 million.

Vascular Access Devices Market Analysis

Rising Application of Vascular Access Devices for Drug Administration

The drug administration category held the largest share, of 40%, of the market in 2023, attributed to the extensive usage of these devices for the administration of drugs for the treatment of infections, chemotherapy, and other purposes.

For instance, the systemic treatment of cancer involves the administration of chemotherapy agents, alongside targeted therapies and immunotherapy, into a central vein, using peripherally inserted central catheters (PICCs) and completely implanted ports (PORTs). Moreover, the rising prevalence of renal diseases, which are a group of progressive conditions affecting more than 10% of the global population, or more than 800 million individuals, is propelling the usage of devices that offer access to the blood vessels.

Peripheral Vessel Access Devices Are Majorly Used

Vascular access devices can either be used peripherally, i.e., on the patient’s arm, or centrally, i.e., inserted into the jugular foramen. Such devices are majorly preferred for the continuous and repeated administration of medications, such as antibiotics.

Moreover, due to the rising prevalence of cardiac disorders and the burgeoning geriatric population, the market has experienced a rise in the demand for peripheral vascular access devices, which held a share of around 50% in 2023. This is because cardiovascular diseases are one of the primary causes of death, taking more than 19 million lives all over the world in the year 2020.

Additionally, cancer, diabetes, respiratory diseases, and almost every other kind of chronic disease are increasing in incidence on account of the lifestyle alterations and inadequate access to preventive care. Among these, cancer accounted for over 18.1 million new diagnoses and nearly 10 million deaths across the globe in 2020. The rising burden of such ailments will propel the demand for peripheral vascular access devices at a CAGR of 6.9% during the forecast period.

Hospitals Are Expected To Make Largest Contribution

With a revenue share of 55% in 2023, the hospitals category dominates the market. With the rising dialysis usage due to the wide prevalence of diabetes globally, the usage of such devices for the infusion or collection of the blood and in the transfer of nutritional fluid continues to pick up at hospitals. Overall, the rising chronic disease prevalence is driving hospitalization volumes, in turn, promoting the consumption of vascular access devices.

Therefore, over the last few years, the world has experienced a significant rise in the number of hospitals. Moreover, the skilled healthcare staff employed at hospitals would help these places maintain their dominance on the market.

Regional Analysis

North America Holds Major Share in Global Market

North America dominated the market, with a share of more than 45%, in 2023. The large number of players in the region and the fast adoption of advanced medical equipment result in the growth of the regional market. Moreover, the favorable framework for healthcare cost reimbursement makes it easy for patients to seek quality healthcare.

Additionally, the market has been experiencing a faster growth in the U.S. than in Canada. The former country is internationally recognized for its healthcare facilities and innovations, with the government putting in substantial capital investments since a long time. Moreover, it is the biggest investor in healthcare due to its sizable population, established network of researchers, and expansive healthcare industry.

Further, the large number of hospitals, increasing disposable income, and government efforts to improve the standard of care drive the market at the higher rate in the country.

Market Breakdown

This fully customizable report gives a detailed analysis of the vascular access devices market, based on all the relevant segments and geographies.

Based on Device

• Central
• Peripheral
• Accessories

Based on Application

• Drug Administration
• Fluid & Nutrient Administration
• Blood Transfusion
• Diagnostics & Testing

Based on End User

• Hospitals
• Clinics & Ambulatory Care Centers

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • U.A.E.

Top Vascular Access Device Companies