Over the projected period from 2022 to 2032, the global vascular access catheters market size is expected to increase at a compound annual growth rate (CAGR) of 5.7%, offering profitable growth potential valued at US$ 5.3 billion. The non-antimicrobial category is expected to make up US$ 2.2 billion of the anticipated US$ 3.0 billion worldwide market value by the end of 2022. The historical valuation of the global market for vascular access catheters by Future Market Insights indicates a compound annual growth rate (CAGR) of 4.9% from 2012 to 2021. The value of the global market in 2021 was US$ 2.9 billion..
The growth of the market is attributed to the increasing number of cases of blood transfusions along with the rising demands of patients for central venous access. Furthermore, the rise in a number of lifestyle-related disorders and surging demand for technologically advanced vascular access devices are promising factors to propel the market in the forecast period. The aforementioned factors are expected market drivers and are anticipated to expand the market during the forecast period.
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A vascular access catheter also known as a central line catheter is known as a long, thin, flexible tube utilized to draw bodily fluids and blood from veins including intravenous fluids, drugs, or blood transfusions. Central access catheters are utilized for administering medicines, fluids, nutrients, blood, and blood products. Furthermore, these catheters are used for measuring central venous pressure (CVP), hemodialysis, and chemotherapy over a long period of time. The growth of the global vascular access catheters market is primarily driven by increasing adoption and growing demand for antimicrobial coated catheters, coupled with socio-economic factors such as increasing disease incidences due to the growing aging population. Increasing cases of cancer and chronic kidney disease are major factors globally.
Owing to the technological advancements within the global vascular access catheters market within the developed regions are expected to bolster the prevalence of end-stage renal diseases and rising numbers of vascular access surgeries are the trends expanding the global vascular access catheters market. Other prominent growth drivers are product innovations and increasing rates of hospitalizations. In addition to that, product category, insertion procedure, indication, and the age of the patient are set to define the reimbursement landscape for vascular access catheters. Catheter manufacturers are expected to invest more in product design and quality to minimize the impact on patient safety.
Key Takeaways:
- The rising implementation of tip location devices has enhanced the accuracy and efficiency of PICC and CVC insertion by helping physicians to position the PICC and CVC tip in proximity to the cardio arterial and large vein junction.
- Rising demand for central venous catheters combined with favorable support from various government bodies on the basis of reimbursement and commercialization of novel interventional solutions are major factors boosting collaborations and partnership agreements between manufacturers.
- Prominent companies within the central access devices market are making hefty investments to introduce innovative central venous catheters that will help in capitalizing. Therefore, creating lucrative opportunities in the vascular access catheters market. Also, companies are working on key related issues such as the prevention of thrombus formation and infection by introducing catheters with antimicrobial coatings.
- The above-mentioned factors incorporate great prospects for manufacturers in order to elevate the adoption of their products to create a strong consumer base and boost the vascular access catheters market in the forecast years.
Competitive Landscape:
Several advancements in biocompatibility, flexibility, and the adoption of novel materials are efficiently shaping the demand for such effective and quality products in the vascular access catheters market. Key market players in the market are looking forward to expanding their market and creating a stronghold in the consumer base from long-term vascular access catheters (VACs). Manufacturers have benefitted from the growing understanding of the diagnosis of VAC-related infections. Technological advancements especially concerning designs and materials have enabled healthcare workers to overcome complex VAC infections and complications. These factors are the prospects of new technologies in the vascular access catheter market.
Angio Dynamics, C.R. Bard, Teleflex Incorporated, Kimal, B. Braun Melsungen AG, Vygon (UK) Ltd., Fresenius Kabi AG, Becton, Dickinson and Company, Argon Medical Devices, Inc., Boston Scientific Corporation, Cook Medical Incorporated, Medical Components, Inc., Medtronic PLC., Terumo Medical Corporation, NIPRO Medical Corporation, Angio dynamics, Edwards Lifesciences Corporation.
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Key Market Segments Covered in Vascular Access Catheters Industry Research
Products:
- Dialysis Catheters
- Acute Hemodialysis Catheters
- Chronic Hemodialysis Catheters
- Peritoneal Dialysis Catheters
- PICC Catheters
- Implantable Port
- CVC Catheters
- Tunneled Catheters
- Non-Tunneled Catheters
Property:
- Antimicrobial Catheters
- Non-Antimicrobial Catheters
Design:
- Single Lumen
- Double Lumen
- Multiple Lumen
End User:
- Hospitals
- Ambulatory Surgical Centers
- Dialysis Centers
- Specialty Clinics and Others
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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More Insights into the Vascular Access Catheters Market
The U.S. has dominated the North American vascular access catheters market in 2021 with a regional revenue share of nearly 86% and is expected to grow over a CAGR of 6.4 % during the forecast period.
The European region is anticipated to account for around 22.2% of the total market share over the projection period due to the rising number of cancer cases in the region.
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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