Venous Access Devices Market Size & Share, by Device Type (Ablation Device, Surgical Products, Catheter, Venous Closure System); Treatment Type (Endovenous Ablation Powder, Sclerotherapy, Surgical Ligation, Stripping); End Use (Hospital, Retail Pharmacies, Mail Order Pharmacies, E-commerce) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5991
  • Published Date: Apr 03, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Venous Access Devices Market size is predicted to reachUSD 38 billion by the end of 2036, growing at a CAGR of 6% during the forecast period i.e., 2024-2036. In the year 2023, the industry size of venous access devices was over USD 5 billion. Chronic diseases such as diabetes, heart disease, and kidney failure are at great heights worldwide. Therefore, these health conditions often demand for frequent blood draws, medication administration, and dialysis that necessitate the utilization of venous access devices. As per reports worldwide, around one in three of all adults suffer from some or the other chronic conditions. Around 6 in 10 adults suffer from chronic disease, and 4 in 10 adults at a time suffer from two or more such diseases in the US.

In addition, the integration of infusion pumps is minimal, which increases the acceptance rate, thus anticipating the growth of the venous access devices market. Moreover, the market growth over the forecast period has been further enhanced by the presence of various gauge sizes for venacular devices. The change in size is beneficial for the purpose of serving a variety of purposes, thus enhancing medication accuracy and thereby increasing safety.


Venous Access Devices Market
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Venous Access Devices Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Technological Development to Drive Veterinary Home Diagnostic Sales - The growth of the vascular boot market is expected to be stimulated by various technological developments taking place in the manufacture of infusion pumps and catheters.  As a primary treatment option for diabetic patients and chronic disease, demand in the market has been attributed to this. In addition, the integration of these pumps is minimal thus increasing their acceptance and thereby anticipating an increase in demand.
  • Multiple Clinical Trials - The venous access devices market is expected to be positively affected by several clinical trials carried out using the available technologies. Because many vascular access devices perform similar functions and differ only slightly from one another, clinical data confirming the safety and cost-effectiveness of some products will have a significant impact on device purchase decisions.

Challenges

  • High in Cost – The cost of venous access devices such as central venous catheters and peripheral intravenous catheters can be huge. This can pose burden for patients and healthcare providers.
  • Strict Regulations to Hinder the Market Expansion in the Upcoming Period
  • High Infection Rates is expected to Hamper the market growth in the forecast period.

Venous Access Devices Market: Key Insights

Base Year

2023

Forecast Year

2024 - 2036

CAGR

~6%

Base Year Market Size

~USD 5 billion

Forecast Year Market Size

~USD 38 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Venous Access Devices Segmentation

Device Type (Ablation Device, Surgical Products, Catheter, Venous Closure System)

In terms of device type, the catheter segment is set to hold the largest market share of 40% during the forecast period. With a preference for central catheters, a large proportion of total demand is generated. Direct administration of nutrition and medication directly to the blood vessels is more efficient with centrally placed catheters. To allow patients to remain active and receive intravenous medicinal products at home, central venous catheters are less likely to break off from the vein. In addition, it is capable of providing more blood volume to patients who are severely injured.

End Use (Hospital, Retail Pharmacies, Mail Order Pharmacies, E-commerce)

Based on application, the hospital segment is set to hold the largest market share of 40% by the end of 2036. The presence of qualified and trained staff at dialysis centers and hospitals allows for the best possible care, as well as improved access to blood vessels. A number of reasons, including a growing emphasis by companies on the development of their own cardiovascular access facilities, are anticipated to contribute to this category.

Our in-depth analysis of the global market includes the following segments:

     Device Type

  • Ablation Device
  •  Surgical Products
  •  Catheter
  • Venous Closure System

     Treatment Type

  • Endovenous Ablation Powder
  • Sclerotherapy
  • Surgical Ligation
  •  Stripping

     End Use

  • Hospital
  • Retail Pharmacies
  • Mail Order Pharmacies
  •  E-commerce

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Venous Access Devices Industry-Regional Synopsis

North American Market Forecasts

The venous access devices market in the North America region is set to hold the largest revenue share of 35% by the end of 2036. The USA and Canada are projected to have the largest shares, thus dominating the market. This can be accounted on the back of growing cases of chronic diseases including health concerns such as diabetes, kidney failure, and multiple sclerosis owing to this the regional market is anticipated to register substantial growth. In particular, the Abre vein self-expanding device was innovated and authorized by the Food and Drug Administration in 2020 in the United States

European Market Statistics

The market in the Europe region is set to grow notably by the end of the forecast period. A major increase in the production of generic drugs by various drug companies is expected to meet the need for delivery technology. This has resulted in a large product pipeline and higher returns for existing products, which is an important factor behind the sector's growth. According to press reports, catheters are soft tubes inserted into the largest vein near the heart of the patient.

Research Nester
Venous Access Devices Market size
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Companies Dominating the Venous Access Devices Landscape

top-features-companies
    • Angio Dynamics
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Smiths Medical
    • Cook Group Incorporated
    • Abbott Laboratories
    • Baxter International
    • C R Bard
    • Reinventing Venous Access
    • Becton Dickinson and Company
    • Boston Scientific Corporation
    • Teleflex Incorporated.

In-the-news

In The News

  • AngioDanymics has announced a new collaboration with Minimax Medical to distribute its product range internationally.
  • BD has also acquired TVA Medical, a manufacturer of vascular access devices for hemodialysis patients suffering from kidney disease.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 5991
  • Published Date: Apr 03, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing prevalence of chronic disease and growing technological advancement are some of the major factors anticipated to drive the growth of the venous access devices market.

The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2024-2036.

The major players in the market are of Baxter International, C R Bard, Reinventing Venous Access, Becton Dickinson and Company, Boston Scientific Corporation, Teleflex Incorporated., and others.

The hospital segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in North America is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Venous Access Devices Market Report Scope
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