The global vascular access device market is projected to reach USD 7.9 billion by 2028 from USD 5.6 billion in 2023, at a CAGR of 7.0% during the forecast period. Growth in this market is majorly driven by the high growing prevalence of lifestyle diseases, increasing number of chemotherapy procedures, and increasing use of vascular access device in pediatric patients.However, the high costs involved in the placement and maintenance of vascular access device are expected to restrain market growth to a certain extent.
The prominent players in this market are Becton, Dickinson and Company (US), ICU Medical, Inc. (US), Teleflex Incorporated (US), B. Braun SE (Germany), AngioDynamics, Inc. (US), Terumo Corporation (Japan), Nipro Medical Corporation (Japan), Medtronic (Ireland), Amecath (Egypt),Romsons (India), PRODIMED (France),Cook Medical (US), Access Vascular, Inc. (US), Medical Components, Inc. (US), Vygon (France), 3M (US), Argon Medical Devices (US), Guangdong Baihe Medical Technology Co., Ltd. (China), pfm medical (Germany), Medi-Tech Devices Pvt Ltd (India), Medline Industries, LP (US), Kimal (UK), Deltamed (Italy), Newtech Medical Devices (India) and Shanghai Puyi Medical Instruments Co., Ltd (China).
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Becton, Dickinson and Company (US) is one of the leading players in the global vascular access device market. Its leading position can be attributed to its strong geographic presence, which has helped it gain a competitive edge in the market. BD is committed to advancing the standard of care for IV therapy for patients and health care providers. The company product BD PosiFlush SafeScrub received clearance and was introduced to select customers in October 2022. The innovation is a key component of the company's vascular access management portfolio and contributes significantly to the BD vision of achieving the "One-Stick Hospital Stay." It plays a crucial role in reducing complications, such as infections, and prolonging the duration of catheter usage through effective IV care and maintenance. This, in turn, has the potential to enhance clinical outcomes and overall patient well-being. The company has an extensive product portfolio based on various technologies. It also has a wide geographic presence in more than 50 countries and has a strong direct and indirect distribution network across the globe. This helps the firm protect its business from demand fluctuations in various geographies. In 2017, Becton, Dickinson and Company (US) announced the acquisition of C.R.Bard, Inc. (U.S.) for USD 24 billion. This acquisition aims to offer its products in central vascular access device (CVADs).
Teleflex Incorporated (US) is one of the leading players in the vascular access device market and has extensive market experience. The company offers vascular access products under the brand name ARROW. The company also provides support services for its products. To strengthen its position in the market, the company focuses on product launch. In line with this strategy, in June 2022, Teleflex Incorporated launched an Arrow Pressure Injectable Midline Catheter in Australia, New Zealand, Europe, the Middle East and Africa region. The addition of the pressure injectable catheter further enhances the Midline portfolio to meet the expanded needs of clinicians and is designed to improve patient safety.
ICU Medical, Inc. (US) is one of the key players in the vascular access device market. Its key strength lies in its strong product portfolio. The company offers a wide range of vascular access device products, including central venous catheters, peripheral IV catheters, needle-free connectors, and other related accessories. The company is known for producing high-quality products that meet stringent regulatory standards and undergo rigorous testing to ensure reliability and performance. ICU Medical provides educational resources, training, and clinical support to healthcare professionals to enhance their understanding and proficiency in using their vascular access device. The company's organic growth has been primarily fueled by acquisitions. In January 2022, ICU Medical, Inc. completed its acquisition of Smiths Medical from Smiths Group plc.This broadened preexisting portfolio by adding infusion therapy, vascular access, and vital care applications and significantly strengthened and expanded global market reach.
Vascular Access Device Market by Type (Central (Peripheral, Tunneled, Non- tunneled, Implanted Ports), Peripheral (Short, Midline, Winged)), Application (Drug, Blood, Fluid, Diagnostic), End User (Hospitals, Clinics, Ambulatory) - Global Forecast to 2028
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