Transparency Market Research Report Added "Vascular Access Devices Market" to its database.
Albany, NY -- (SBWIRE) -- 01/04/2017 -- The global vascular access devices market will have a low degree of threat from new entrants as international giants look to cement their existence with deeper focus on R&D and technological innovation to manufacture novel grades of devices. A recent report released by Transparency Market Research (TMR) predicts the deterring entry of new players due to lack of competency amongst global vendors to challenge the concerns associated with the use of vascular access devices. Existing competitors have done a great job by encouraging necessary technological amendments in their devices to eliminate complications such as infections.
With a largely consolidated nature, the worldwide vascular access devices market houses top five players, viz. C.R. Bard, B. Braun Melsungen AG, Teleflex, Inc., Becton, Dickinson and Company, and Fresenius Medical Care. They displayed complete dominance in 2015 with a whopping combined market share of about 72.40%.
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Key industry developments highlight C.R. Bard's acquisition of Liberator Medical Holdings, Inc., a direct-to-consumer distributor of self-catheterization and other medical equipment, in January 2016. In the same year, Fresenius Medical Care acquired an Indian dialysis service provider with the name Sandor Nephro Services. B. Braun Melsungen AG has become one of the leading suppliers of medical equipment internationally with its broad portfolio of products. Its South African subsidiary acquired Dismed Pharmaceutical (Pty) Ltd. in June 2016 to broaden its base of medical and pharmaceutical products in the country.
With a CAGR of 6.0% for the forecast period 2016–2024, the global market is estimated to mark approximately US$8.6 bn by 2024, after registering over US$5.4 bn in 2016. By volume, the market is anticipated to be propelled by a 5.4% CAGR throughout the forecast period.
North America Tops Market Share
The report segments the vascular access devices market based on region, product type, route of insertion, end use, and application. The peripherally inserted central catheters product type segment is predicted to grow at a CAGR of 6.6% during the forecast period. The growth will be propelled by the availability of multiple drug therapies at one time, ease of access, and rising number of home dialysis patients.
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North America is foreseen as a lucrative market, which is expected to touch the highest valuation by 2024. The region accounted for an impressive 40.8% share in the global vascular access devices market in 2015 and is projected to exhibit continued dominance during the course of the forecast period. The North America region is expected to be trailed by Europe and Asia Pacific in terms of market share.
Rising Average Life Expectancy and Growing Share of Geriatric Population to Fuel Market
The rising need for hospitalization due to augmenting incidences of lifestyle diseases, such as obesity, diabetes, and blood pressure, has driven the growth of the vascular access devices market. Most of these diseases arise from lack of exercise and poor diet and lifestyle. Demographic change, reimbursement policies, increasing number of target diseases such as cancer, rising per capita healthcare expenditure, technological innovation, developing medical tourism, and the focus of governments shifting towards the providence of better healthcare services and products are other powerful drivers in the market.
Considering the restraints, lack of regulatory approval, pricing pressure, and catheter-associated risks could halt the progress of the international market for the forecast period.
The information presented in this review is based on a TMR report titled "Vascular Access Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024".
Global Vascular Access Devices Market, by Product
Global Vascular Access Devices Market, by Application
Administration of Fluids T& Nutritional Compounds
Transfusion of Blood Products
Global Vascular Access Devices Market, by Route of Insertion
Global Vascular Access Devices Market, by End Users
Ambulatory Surgery Centers
Global Vascular Access Devices Market, by Geography
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East and Africa
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