The global Vascular Access Device Market size is expected to reach USD 7.72 billion by 2027 according to a new study by Polaris Market Research. The report “Vascular Access Device Market Share, Size, Trends, Industry Analysis Report, By Type (Central Vascular Access Devices {Peripherally Inserted Central Catheters, Tunneled Catheters, Percutaneous Non-Tunneled Catheters, and Implanted Ports} Peripheral Vascular Access Devices {Short Midline Catheters, Midclavicular Catheters, and Winged Steel Needles}; and Other Accessories); By Application (Fluid and Nutrition Administration, Drug Administration, Blood Transfusion, and Diagnostics & Testing); By End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Other End Users); By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Devices that are used to access venous irrespective of their
location are known as vascular access devices (VAD). The different types of
VADs include centrally inserted central catheter (CICC), peripheral intravenous
catheters, and peripheral central catheter (PICC), and other implanted venous
ports. VADs are inserted into peripheral or central vessels for the
administration of fluids, antibiotics, parenteral nutrition, and blood
sampling.
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The selection VADs is extremely important in treating any
particular medical condition to reduce the risk of catheter bound infections.
Healthcare practitioners should be aware of selecting VADs with least number of
the lumen and small French size to minimize infections and thrombotic
complications. For instance, people suffering with chronic kidney disorder
seeking central venous access should avoid placement PICC and CICC to avoid the
complication of venous stenosis and deep vein thrombosis.
The factors responsible for the growth of global market are rising
cases of chronic kidney disorder (CKD), increasing cases of PAD and CAD among
geriatrics, and preference of patients towards minimal invasive surgeries is
contributing to the worldwide demand of vascular devices. According to the
statistics published by Center for Disease Control and Prevention (CDC), in
2019, more than 8.5 million U.S. citizens were suffering with peripheral artery
disease (PAD). People with PAD are more susceptible to develop coronary artery
disease, which could ultimately lead to strokes or cardiac arrhythmias.
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Market participants such as Smiths Medical, Inc., Becton
Dickinson and Company, C.R. Bard, Inc., Teleflex Incorporated, B. Braun
Melsungen Ag, Bluegrass Vascular Technologies, Edwards Lifesciences
Corporation, Angiodynamics Inc., Biomerics, Terumo Corporation, Romsons
Scientific & Surgical Pvt. Ltd, Nipro Medical Corporation, Ameco Medical,
and Prodi med are some of the key players operating in the concerned market.
These players in the industry possess a significant share in the global market.
However, these significant players face competition from local manufacturers in
several countries. They adopt competitive pricing to consolidate their market
share. These vendors provide cost-effective equipment with limited features and
functionalities.
