Transparency Market Research (TMR) has published a new report titled, ‘Vascular Access Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global vascular access devices market was valued at US$ 6,077.2 Mn in 2018 and is projected to expand at a CAGR of 5.8% from 2019 to 2027. Overview
Vascular access devices (VADs) are inserted into veins via peripheral or central vessels for diagnostic or therapeutic reasons, such as blood sampling, central venous pressure readings, Medication Administration, fluids, total parenteral nutrition (TPN) and blood transfusions. The growing relevance of cardiovascular treatment has played an integral role in driving sales across the global vascular access devices market. Intravenous devices have gained relevance across the field of cardiology, and the medical fraternity is making concerted efforts to drive sales. Based on product, the vascular access devices market is segmented into peripheral catheters, central catheters, and accessories. North America dominated the global vascular access devices market in 2018 and the trend is anticipated to continue during the forecast period. Increasing adoption of technological advanced products and increasing prevalence of vascular disorders has contributed to dominant share of the region in global market. Asia Pacific is likely to be a highly lucrative market for vascular access devices and it is expected to expand at a high CAGR during the forecast period
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Innovative technologies, products and procedures are constantly fueling the growth in the market. New catheter material compositions that improve user’s pre and post-catheterization comfort, antimicrobial coatings that prevent the formation of biofilms and crusts are some of the advances, which manufacturers and researchers are developing. Biocompatible materials, such as silicone and polymer mixes, are substituting latex materials, giving rise to lubricious internal and external surfaces that reduce pain during Administrations. Silicon coated and 100% silicone catheters are already in widespread use in cases where patients are allergic or hypersensitive to latex. Antimicrobial coating, and drug coated catheters are the most recently approved products by the U.S.-FDA, that have reduced catheter related infections, and complications.
Peripheral Catheters Segment to Dominate Market
In terms of product, the vascular access devices market is segmented into peripheral catheters, central catheters, and accessories. Peripheral catheters segment is segmented into PIVC and midline catheters. The central catheters are further classified into PICC, Central Venous Catheters, Implantable ports, and dialysis catheters.