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(Health-NewsWire.Net, July 15, 2021 ) Research Methodology Followed for This Study:
Top-down and bottom-up approaches were used to validate the size of the global Vascular Access Device Market and estimate the size of other dependent submarkets.
Various secondary sources such as associations World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), European Association of Percutaneous Cardiovascular Interventions (EAPCI) directories, Society for Cardiac Angiography and Interventions (SCAI), industry journals, databases, and annual reports of the companies have been used to identify and collect information useful for the study ofthis market.
Primary sources such as experts from both supply and demand sides have been interviewed to obtainand validateinformation as well as to assess dynamics of this market.
Growth Boosting Factors:
The key factors driving the growth of this market include the growing prevalence of lifestyle diseases, an increase in the number of chemotherapy procedures and the increasing use of vascular access devices in pediatric patients.
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Projected Revenue Surge:
The global vascular access device market is expected to reach USD 5.45 Billion by 2022 from USD 3.87 Billion in 2017, at a CAGR of 7.1%.
By end user, hospitals are expected to hold largest market share in 2017
Based on the end users, the Vascular Access Device Market is segmented into hospitals, clinics and ambulatory care centers, and other end users. In 2017, the hospital segment is expected to dominate this market. The large share of this segment can be attributed to the fact that a majority of vascular procedures are performed in hospital settings.
By application, the drug administration segment is expected to dominate the market in 2017
Based on application, the Vascular Access Device Market is broadly classified into drug administration, fluids and nutrition administration, blood transfusion, and diagnostics and testing. The drug administration segment is estimated to account for the largest share of the market in 2017, 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.
North America to hold the largest share of the market in 2017
North American segment is expected to account the largest share of the Vascular Access Device Market in 2017. Market growth in this region is primarily driven by factors such as the high prevalence of cardiovascular diseases; increasing number of research studies and clinical trials for vascular access devices in the U.S.; and the increase in chemotherapy procedures. Moreover, the increasing number of cardiac arrest cases, an increase in the number of minimally invasive procedures and the increase in cancer incidences in Canada are other factors driving the growth of this market in this region.
Key Players:
Some prominent players in the market include Becton Dickinson and Company (U.S), C.R.Bard, Inc. (U.S.), and Smiths Medical, Inc. (U.K.). Other players include Teleflex Incorporated (U.S.) B Braun Melsungen Ag (Germany), AngioDynamics (U.S.), Terumo Corporation (Japan), Nipro Medical Corporation, Edwards Lifesciences Corporation (U.S.), Ameco Medical (Egypt), Romsons Scientific & Surgical Pvt. Ltd (India), and Prodimed (France).
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