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Vascular Access Devices Market to be Worth $2.64 Billion by 2030: Grand View Research, Inc. | ||
By: PR Newswire Association LLC. - 25 Jan 2023 | Back to overview list |
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SAN FRANCISCO, Jan. 25, 2023 /PRNewswire/ -- The global vascular access devices market size is expected to reach USD 2.64 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5% from 2023 to 2030. The rise in the geriatric population, the prevalence of chronic illnesses, and the number of surgical operations all contribute to the market's expansion. The vascular system could be accessed with vascular access devices such that fluids, drugs, and blood can be administered or removed. For the treatment of severe medical illnesses including cancer and renal failure, these devices are frequently employed. The need for vascular access devices is anticipated to be driven by the rising prevalence of chronic disorders. Additionally, technological advancements in medical devices are also likely to support the growth of the market. Key Industry Insights & Findings from the report:
Read 150 page market research report, "Vascular Access Devices Market Size, Share & Trends Analysis Report By Product Type (Short PIVCs, Huber Needles, Midline Catheters, PICCs, CVCs, Dialysis Catheters, Implantable Ports), By End-use, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research. Vascular Access Devices Market Growth & Trends An increase in chronic illnesses including cancer, renal disease, heart disease, hypertension, diabetes, obesity, and depression has led to an increase in new cases of cancer. For instance, the GLOBOCAN 2020 report states that 19,292,789 new cancer cases were reported in 2020, out of which 2,261,419 and 2,206,771 were specifically related to breast cancer and lung cancer, respectively. Additionally, according to WHO data released in April 2021, chronic illnesses would cause the deaths of 41 million people per year (71% of all fatalities), with 77% of those deaths occurring in low- and middle-income countries. The demand for vascular access devices would be rising as cancer rates grow in the coming years. Key players in the market are investing in the launch of new products and collaborations for sustaining their market presence. For instance, in September 2022, Access Vascular, Inc., partnered with the Association for Vascular Access (AVA). This partnership aims to enhance patient outcomes with evidence-based practices and tech education. Moreover, in May 2020, Smiths Medical (ICU Medical, Inc.) acquired Access Scientific, LLC's business; this transaction extends Smiths Medical's vascular access product portfolio. Vascular Access Devices Market Segmentation Grand View Research has segmented the global vascular access devices market based on product, end-use, and region: Vascular Access Devices Market - Product Outlook (Revenue, USD Million, 2018 - 2030)
Vascular Access Devices Market - End-Use Outlook (Revenue, USD Million, 2018 - 2030)
Vascular Access Devices Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)
List of Key Players in the Vascular Access Devices Market
Check out more related studies published by Grand View Research:
Browse through Grand View Research's Medical Devices Industry Research Reports. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Sherry James Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg View original content:https://www.prnewswire.co.uk/news-releases/vascular-access-devices-market-to-be-worth-2-64-billion-by-2030-grand-view-research-inc-301730265.html |
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