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.
Growth Drivers
Challenges
|
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 |
|
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 |
|
|
Treatment Type |
|
|
End Use |
|
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.
Author Credits: Radhika Gupta, Shivam Bhutani
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?