The global vascular access device market is projected to grow from USD 3.87 billion in 2017 to USD 5.45 billion in 2022 at a CAGR of 7.1 percent, predicts MarketsandMarkets. 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 are the key factors driving the growth of this market.
Central vascular access devices are expected to account for the largest share of the market in 2017. The growth of this segment is attributed to the wide usage of central vascular access devices in chemotherapy and for the treatment of cardiovascular disorders and chronic kidney disorders. The drug administration segment is estimated to account for the largest share of the market in 2017owing to the high usage of vascular access devices for drug administration for the treatment of infections, cancer, and other diseases.
North American segment is expected to account the largest share of the market in 2017. Market growth in this region is primarily driven by the high prevalence of cardiovascular diseases, increasing number of research studies and clinical trials for vascular access devices, and the increase in chemotherapy procedures.
Some prominent players in the market include Becton Dickinson and Company, C.R.Bard, and Smiths Medical. Other players include Teleflex Incorporated, B Braun Melsungen, AngioDynamics, Terumo Corporation, Nipro Medical Corporation, Edwards Lifesciences Corporation, Ameco Medical, Romsons Scientific & Surgical Pvt. Ltd, and Prodimed.