Global Vascular Access Devices Market Increasing Number of Chemotherapy Procedures with High Hospitalization Rates and Forecasts to 2023

The rising prevalence of lifestyle related to disorders is one of the primary factors driving the vascular access device market. These include diseases such as cardiovascular diseases, diabetes, and obesity, amongst others.

Pune, India - October 8, 2018 /MarketersMedia/ —

The global vascular access device market is expected to register a CAGR of nearly 6.5% during the forecast period of 2018 - 2023. With the rising number of surgeries being performed in hospitals worldwide, the demand for vascular access device market is mounting, as it is used to enable easy access to the bloodstream through hollow and flexible tubes of latex or silicone. The regional analysis shows that North America is highly lucrative region for companies growth due to the well-established healthcare infrastructure, high adoption rate of new technologies and increasing lifestyle-related disorders.

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Increasing Prevalence of Lifestyle Related Disorders

The rising prevalence of lifestyle related to disorders is one of the primary factors driving the vascular access device market. These include diseases such as cardiovascular diseases, diabetes, and obesity, amongst others. Obesity and overweight are the most common diseases among youth globally. 

Other driving factors for this market are the rising number of chemotherapy procedures, increased use of vascular access devices in pediatric patients, and surging medical tourism.

Major players Covered In this Report are: B. Braun Melsungen AG, Baxter, Becton, Dickinson and Company, Fresenius Medical Care AG & Co., KGaA, Medtronic PLC, Nipro Medical Corporation, Siemens Healthineers, Smiths Medical, Inc., Teleflex Incorporated, and Terumo Corporation, amongst others.

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High Risk of Diseases Associated with Catheter Use

The high risk of diseases associated with the long use of catheters is one of the major factors restricting the growth of this market. In certain patients, the poor veins make them unsuitable for the placement of the catheter, and in others, long-term access to the veins raises the risk of vein damages. Also, catheter-related bloodstream infection (CRBSI) is among the most common, lethal and high cost associated complications of the central venous catheterization. This increases both intensive care unit (ICU) stay and mortality rate. Therefore, these factors leads to impedance of vascular access devices market.

Other factors impeding this market are stringent regulations related to medical devices approval and product recalls and failures.

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Key Developments in the Market

April 2018: Cardiva Medical, vascular closure system (Vascade) received approval in patients undergoing interventional cardiac catheterization procedures.
April 2018: REVA Medical, Inc. initiated commercial operations in partnership with Kardionet HealthCare and Foreign Trading, Ltd (“Kardionet”) for Fantom bioresorbable scaffold access to patients.

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