Albany, NY -- (SBWIRE) -- 10/16/2020 -- Venous access devices are specifically-designed catheters to gain and maintain access to the venous system. Venous access devices are of two types: central venous catheters and peripheral venous catheters. Peripheral venous catheters are inserted by percutaneous venipuncture, generally into a hand or arm vein. These are generally 3 to 10 inches in length. The tip of these catheters does not allow penetration beyond the axillary line, thereby restricting infusates, such as, vesicants and drugs that could cause irritation and harm to the peripheral veins. Infusates utilized by these catheters primarily include antibiotics, antipyretics, and analgesics. As peripheral venous catheters are not inserted into the central veins, they can be positioned without using an X-ray device for confirming their placement. Peripheral venous catheters are advantageous over other types of catheters as the former does not possess the risk of causing phlebitis or infections and can be placed in the veins for an extended duration of time (seven days or more).
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The global peripheral venous access devices market can be segmented on the basis of product type, application, end-user, and region. Based on product type, the peripheral venous access devices market can be divided into peripheral short catheter, peripheral midline catheter, and peripherally inserted central catheter (PICC). In terms of application, the peripheral venous access devices market can be categorized into drug administration, fluid and nutrition administration, diagnostics and testing, and others. On the basis of end-user, the market can be classified into hospitals, ambulatory surgical centers, specialty clinics, and others. Based on geography, the market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Technological advancements in infusion pumps and catheter are likely to augment the demand for peripheral catheters in the market. Development in making infusion pumps more precise and accurate has reduced the incidence of overdose and its related issues. This has increased their demand in the market as a treatment option for chronic pain and diabetes. Furthermore, implantation of these pumps is minimally invasive which has increased their acceptance and adoption, thereby boosting the market growth. Likewise, availability of catheters in different gauge sizes has augmented the growth of the peripheral catheter market. Size variation in catheters is meant to serve a specific purpose, which increases the accuracy of administration of medication, thus increasing the safety.
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On the basis of geography, North America is expected to account for the dominant share of the global peripheral venous access devices market during the forecast period. This can be attributed to the large number of patients suffering from chronic diseases, such as, diabetes, hypertension, and cancer in the region. Moreover, major market players, such as, C. R. Bard, Inc. and Becton Dickinson and Company (BD) are based in the U.S. which further supports the high market share of the region. The peripheral venous access devices market in Asia Pacific is expected to expand at a significant CAGR in the next few years. India, China, and other Asian countries have reported rise in disposable income due to economic development. This has boosted the purchasing power of people for medical services. As such, this has augmented the preference of administration of medication via intravenous access (IV) devices, which is likely to propel the growth of the peripheral venous access devices market in the region. Similarly, increase in health care expenditure is estimated to boost the utilization of infusion pumps and catheters in hospitals, contributing to the growth of the market during the forecast period. Other regions, such as Middle East & Africa and Latin America, are expected to be the prospective markets in the near future due to the high adoption rate of advanced therapeutics and rapidly developing health care industry in these regions.
Major players operating in the global peripheral venous access devices market include AngioDynamics, Abbott Laboratories, C. R. Bard, Inc., Cook Group Incorporated, Boston Scientific Corporation, Becton Dickinson and Company, Baxter International Inc., Smiths Medical, and Teleflex Incorporated.
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