Growth Boosting Factors:
The key factors driving the growth of this market include the growing prevalence of lifestyle diseases, an increase in the number of chemotherapy procedures and the increasing use of vascular access devices in pediatric patients.
Objectives of the Study:
# To define, describe, and forecast the vascular access device market by type, application, end user, and region.
# To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).
# To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market.
# To analyze the opportunities for stakeholders and provide details of the competitive landscape for market leaders.
# To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
# To profile the key players and analyze their market shares and core competencies.
# To track and analyze competitive developments such as product launches, approval, agreements, collaborations, and acquisitions in the global market.
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Expected Revenue Growth:
The global vascular access device market is expected to reach USD 5.45 Billion by 2022 from USD 3.87 Billion in 2017, at a CAGR of 7.1%.
By end user, hospitals are expected to hold largest market share in 2017
Based on the end users, the market is segmented into hospitals, clinics and ambulatory care centers, and other end users. In 2017, the hospital segment is expected to dominate this market. The large share of this segment can be attributed to the fact that a majority of vascular procedures are performed in hospital settings.
By application, the drug administration segment is expected to dominate the market in 2017
Based on application, the market is broadly classified into drug administration, fluids and nutrition administration, blood transfusion, and diagnostics and testing. The drug administration segment is estimated to account for the largest share of the market in 2017, the growth of drug administration segment is attributed to the high usage of vascular access devices for drug administration for the treatment of infections, cancer, and other diseases.
North America to hold the largest share of the market in 2017
North American segment is expected to account the largest share of the market in 2017. Market growth in this region is primarily driven by factors such as the high prevalence of cardiovascular diseases; increasing number of research studies and clinical trials for vascular access devices in the U.S.; and the increase in chemotherapy procedures. Moreover, the increasing number of cardiac arrest cases, an increase in the number of minimally invasive procedures and the increase in cancer incidences in Canada are other factors driving the growth of this market in this region.
Key Players:
Some prominent players in the market include Becton Dickinson and Company (U.S), C.R.Bard, Inc. (U.S.), and Smiths Medical, Inc. (U.K.). Other players include Teleflex Incorporated (U.S.) B Braun Melsungen Ag (Germany), AngioDynamics (U.S.), Terumo Corporation (Japan), Nipro Medical Corporation, Edwards Lifesciences Corporation (U.S.), Ameco Medical (Egypt), Romsons Scientific & Surgical Pvt. Ltd (India), and Prodimed (France).
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