DELRAY BEACH, Fla., Feb. 21, 2025 /PRNewswire/ -- The global vascular access devices market, valued at US$5.60 billion in 2023, is forecasted to grow at a robust CAGR of 7.1%, reaching US$5.99 billion in 2024 and an impressive US$9.05 billion by 2030. The increasing prevalence of chronic diseases, such as cancer and chronic kidney diseases, drives market growth. Additionally, increased government support for the construction of healthcare infrastructure and technological advancements are expected to impact market growth. The increasing number of hospitals globally also poses an opportunistic factor for market growth.
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Based on type, the vascular access device market is divided into central venous access device, peripheral vascular access device, intraosseous vascular access device, and accessories. Among these, in 2023, the central venous access device segment accounted for the highest market share in the vascular access device market. This is owing to increasing incidence of cancer cases and chronic diseases such as chronic kidney diseases. Additionally, increasing chemotherapy procedure fuels the market growth for vascular access devices. Central venous access devices are further divided into peripherally inserted central catheters, tunnelled catheters, non-tunnelled catheters, and implantable ports. Among these, the peripherally inserted central catheter to hold the largest market share in 2023. As peripherally inserted central catheters are less likely to pose any complications after the insertion of the device, thus majority of the times in developed regions these devices are preferred over other central venous access devices. As the prevalence of chronic diseases increases the need of central line is rising for long-term therapy, thus increasing the demand for central venous access devices across the globe. Among these, tunnelled catheters to grow at the fastest rate during forecast period. This is due to increasing prevalence of chronic kidney diseases. During haemodialysis procedure these tunnelled catheters are preferred as these are associated with less complications and can be there in the body for 3 to 6 months.
Based on route of insertion, the vascular access device market is segmented into intravenous route of insertion, subcutaneous route of insertion, and intraosseous route of insertion. Among these, the intravenous route of insertion segment accounts for the largest share of the vascular access device market in 2023. As majority of the vascular access devices such as peripherally inserted central venous catheters, tunneled catheter, non-tunneled catheters, peripheral intravenous catheter, midline catheters, winged or butterfly needles are inserted via intravenous route. As the usage of these devices is increasing due to rising prevalence of lifestyle diseases, thus contributing to the market growth. Additionally, for subcutaneous and intraosseous route of insertion the specific healthcare professionals are required for the insertion of the devices. Thus, majority of the healthcare professionals prefer the intravenous route of insertion for various applications. The subcutaneous segment to hold the second largest position, owing to increasing incidence of cancer cases across the globe.
By region, the vascular access device market is divided into 5 main regions, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these regions, in 2023, the North American region holds the largest market share in the vascular access device market, owing to increasing prevalence of chronic diseases such as chronic kidney diseases, cancer, cardiovascular diseases and among others. For instance, as per National Cancer Institute, there will be 2,001,140 new cancer cases in 2024 in US. Additionally, the center for disease control and prevention stated in 2023, that more than 1 in 7 adults, (approximately 35.5 million people) are estimated to have one chronic kidney disease (CKD).
Furthermore, they stated in February 2024 that 129 million American suffer at least one major chronic disease. As these diseases require generally long-term hospitalizations, which includes intravenous medication administration, thus driving the market growth. The North American vascular access device market is divided into US, and Canada. Among these, US holds the largest market share in 2023, owing to the presence of key manufacturing players in the region is supporting the market growth. As these companies are heavily investing for research and development thus contributing to the market growth in US. Additionally in Canada the growth of the vascular access device market is due to increasing clinical trials conducted in this region. For instance, in August 2024 the phase 3 clinical trial on intranasal fentanyl in preterm infants undergoing peripherally inserted central catheter placed got completed at Mount Sinai Hospital in Canada. As the number of clinical trials increases, the demand for these devices is also rising, supporting market growth in the region. The Asia Pacific region accounted for a significant share of the global vascular access device market in 2023 and is expected to grow at the fastest CAGR during the forecast period, driven by an increasing aging population and the rising prevalence of chronic diseases. The Asia Pacific region includes Japan, China, India, Australia, South Korea, and the rest of the region. Among these, China held the largest share of the Asia Pacific vascular access device market in 2023, attributed to the country's rapidly aging population and the growing prevalence of chronic diseases. For instance, in 2022, there were 280.04 million people aged 60 and above, with chronic diseases affecting 66.3% of older adults, including conditions like cardiovascular diseases and cancers. This growing healthcare demand is necessitating efficient vascular access devices for long-term therapies further increasing demand for vascular access devices. Additionally, the rising cancer cases and upsurging number of hospitals are contributing to the regional growth. For instance, in 2022, China recorded for 4,824,700 new cancer cases and 2,574,200 cancer-related deaths highlighting the need for intravenous treatments. Furthermore, as per CEIC data, number of hospitals in China increased to 38,4000 in 2023 up from 36,976 in 2022. Thus, increasing the demand for vascular access device continues to grow. Furthermore, India accounts for second largest share in Asia Pacific vascular access device market, owing to increasing healthcare expenditure.
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Some of the prominent players operating in the market include ecton, Dickinson and Company (US), Teleflex Incorporated (US), ICU Medical, Inc. (US), B. Braun SE (Germany), AngioDynamics, Inc. (US), Medtronic, Plc (Ireland), Merit Medical Systems Inc. (US), Terumo Corporation (Japan), Nipro (Japan), Vygon (France), AMECATH (Egypt), Medical Components, Inc. (US), HealthLine Medical Products (US), Cook Medical (US), Access Vascular, Inc. (US), and among others.
Company Evaluation Matrix: Key Players
We have selected 25 market vendors based on their capabilities, innovations, product offerings, and business strategies. A comprehensive list of all the vendors in this market was created through a product mapping strategy. The vendors are placed into four categories based on their performance in each criterion: stars, Emerging Leaders, Pervasive Players, and Participants. Stars are companies with strong product portfolios and a significant market presence. Emerging Leaders focus on innovation and enhancing their product range. Pervasive Players have robust business strategies but limited product diversification. Participants have growth potential but currently lack strong business strategies. This classification helps stakeholders assess vendor strengths and market positioning effectively.
Market Ranking:
The ranking of companies in the Vascular access device market has been determined through a market share analysis, conducted after thorough secondary research and validated by primary respondents. This ranking considers parameters such as revenue generated from vascular access devices, product portfolio breadth and depth, innovation, and approvals and launches. Based on this analysis, the top three players leading the market are Becton Dickinson and Company (US), Teleflex Incorporated (US), and ICU Medical (US). These companies dominate due to their strong market presence, extensive product portfolios, and continuous innovation in vascular access device market.
Becton Dickinson and Company (US)
Becton, Dickinson and Company (US) company involve in developing, manufacturing and distributing medical devices, laboratory equipment and diagnostic products. The company holds a leading position in the global vascular access device market. This is due to their strong geographic presence across 61 countries, and distribution network. The company operates in 3 business segments: BD Medical, BD Life Sciences, and BD Interventional. The company through their medical delivery solutions unit within BD Medical offers Peripherally inserted central catheter, Peripheral intravenous catheter, central venous catheter, dialysis catheters. Additionally, through Peripheral intervention unit with BD interventional segment the company offers chronic dialysis catheters and ports, which cater to the vascular access device market. They invest in research & development which helps in driving innovation and enhancing patient outcomes. By leveraging their huge product portfolio and global reach, they are maintaining dominance in the vascular access device market across various geographies and healthcare settings.
Teleflex, Incorporated (US)
Teleflex Incorporated (US) is one of the leading players in the vascular access device market. The company offers vascular access products under the brand name ARROW. The company focuses on research and development to offer innovative products across the healthcare settings. For instance, in the company's fiscal year 2023 they invested USD 154.4 million in R&D. The company is continuously launching products catering to vascular access device market across the globe. For instance, in December 2024 they launched pressure injectable Arrowg+ard Blue Plus catheter in Europe, Middle East & Africa. Such strategic efforts are demonstrating the company's commitment to provide advanced devices tailored to regional healthcare needs. As the company continuously invests in R&D and expands their presence in various markets across the globe, the company is solidifying their presence in vascular access device market.
ICU Medical (US)
ICU Medical, Inc. (US) is one of the key players in the vascular access device market. Their key strength lies in its strong product portfolio. ICU Medical offers a wide range of vascular access device products such as central venous catheters, peripheral IV catheters, needle-free connectors, intraosseous needles and other related accessories. They are known for producing high-quality products that meet stringent regulatory standards and undergo rigorous testing to ensure reliability and performance. The company operates in 3 business segments, Consumables, infusion systems, and vital care. The consumables segment focuses on vascular access products thus this segment caters to the vascular access device market. The company mainly has presence in US, Europe, Latin America, Middle east & Africa, and Asia Pacific regions. The company's growth is attributed by their recent acquisition of Smiths Medical from Smiths Group LLC in January 2022 which broadened their vascular access device portfolio and helped in expanding their market presence.
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