- The use of vascular access devices across leading healthcare functionalities such as hospitals, clinics, and ambulatory surgical centers has given a thrust to the growth of the market
- The growing need for developing effective treatment lines across the domain of cardiology has played a vital role in fuelling the vascular access devices market
ALBANY, N.Y, Jan. 7, 2021 /PRNewswire/ -- The demand within the global vascular access devices market is slated to grow at a noticeable rate in the years to follow. The unprecedented value of treating cardiovascular diseases across the medical and healthcare sectors has boded well for the growth of the global market. Several research lines related to the use of access devices have emerged in recent years. All of these research methodologies point to the need for improving care delivery through the use of various key devices such as vascular access device. The growth of the global vascular access devices market has become a function of advancements intravenous cardiovascular treatments. The next decade could witness the development of handy and utilitarian vascular access devices.
The global vascular access devices market is tabulated to reach a value of 10,142.1 Mn by 2027, rising up from a value of US$ 6,077.2 Mn in 2018. The CAGR of the global vascular access devices market over this forecast period is calculated at 5.8%. The growth of this market can primarily be attributed to advancements in healthcare research and analysis. The domain of cardiology has undergone rapid overhauls, considering the burning need for improving treatment lines. This has also contributed to the growth of the global vascular access devices market. In addition to this, the presence of a seamless industry for managing critical healthcare processes such as dialysis, PICC, CVC has also aided market expansion.
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Key Findings of the Report
- Advancements in Venous Procedures
The need to study the venous functioning of the human body stems out from the critical nature of vascular flows in the body. The use of venous access devices has, therefore, emerged as a resilient dynamic of growth for the vendors operating in this market. It is also worthwhile to note that vascular access devices come in different types and forms, each suited for the requirements of the end-users. Therefore, the vendors in the vascular access devices market have a large playfield of opportunity, provided they capitalise on the functionalities at hand. The medical and healthcare industries are functioning in tandem with each other to improve healthcare outcomes.
- Focus on Improving Diagnostics
Several diagnostic centers have also become ardent consumers of vascular access devices in recent times. This is an important factor from the perspective of assessing the application portfolio of the global vascular access devices. The demand for clinical trials related to cardiovascular treatments has also increased, creating increased revenue generation across the global vascular access devices market.
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- Importance of Key Catheters
Various of catheters such as central peripheral catheters and peripheral catheters have emerged as key products corresponding to the global vascular access devices market. The value of these products towards ensuring seamless intravenous and subcutaneous processes has also given a thrust to market growth and expansion. Henceforth, the global vascular access devices market is at an important juncture on its quest for acquiring holistic growth and maturity.
Global Vascular Access Devices Market: Key Drivers
- Use of vascular access devices across diagnostic centers has given a thrust to market expansion.
Need for administering medications and fluids in humans has played guard to the pitfalls that could have hampered growth. - The relevance of vascular access devices in ensuring proper nutrition in patients who are subjected to intravenous nutrition has also aided growth.
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Global Vascular Access Devices Market: Competitive Landscape
- Dickinson and Company
- Medtronic plc
- Cook Medical
- W. L. Gore & Associates, Inc.
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