APAC Vascular Access Devices Market

Asia Pacific Vascular Access Devices Market Size & Growth (2023 to 2028):

As per the research report, the size of the Asia Pacific Vascular Access Devices Market is valued at USD 0.77 billion in 2023 and is expected to reach USD 1.18 billion by 2028 to grow at 8.76% CAGR during the forecast period 2023 to 2028.

The prevalence of numerous chronic illnesses such as cancer, renal failure, and heart disease due to vascular access therapy has been widely increased, driving the Vascular Access Devices market. Along with this, there are numerous lifestyle problems connected to chronic and non-communicable disease conditions, such as hypertension, diabetes, obesity, and depression, to name a few, that necessarily require hospitalization and, in the case of chemotherapies, the use of vascular access catheter devices, which is fueling the market growth.

The drug administration category is expected to account for the most significant market share due to the widespread use of vascular access devices for medication administration in treating infections, cancer, and other illnesses. 

On the other hand, the catheters are also used for various purposes, including medication administration, blood collection, and specialty therapies such as hemodialysis as vascular access catheters can also be placed peripherally in a patient's arm or centrally with the increase in the rapid growth in the medical tourism as well as rise in the healthcare expenditure.

Furthermore, vascular access techniques are utilized more often for intravenous antibiotic therapy, extended intravenous nutritional support, and blood sample collection. As a result, numerous multinational medical device firms are projected to invest in and develop new products, functioning as critical drivers for this industry.

The other factors, such as government rules for the regulation of medical devices by the firm, and improved healthcare infrastructure, among others, play an essential part in growing business and introducing new products by international corporations, therefore contributing to market growth. Also, the vascular access devices industry is highly competitive, with numerous small to mid-sized businesses competing fiercely for market share and driving market growth.

Increase in the high cost of the devices, treatment, and medications with the risk associated with catheter usage. Also, due to strict rules and regulation policies for product approvals, these procedures are very lengthy and time-consuming. These factors are affecting the market growth of vascular access devices.

This research report on the APAC Vascular Access Devices Market has been segmented and sub-segmented into the following categories:

By Type:

• Peripheral
• Central
• Accessories

By Application:

• Drug Administration
• Fluid & Nutrition Administration
• Blood Transfusion
• Diagnostics Testing

By End Users:

• Hospitals
• Clinics And Ambulatory Care Centers
• Other End Users

By Country:

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

Geographically, the Asia Pacific market is the fastest-growing region in the vascular access devices market. It is projected to proliferate in the coming years due to the increase in the prevalence of lifestyle-related disorders as there are continuous changes in lifestyle and eating habits. In addition, the market has a significant impact on the senior population.     

In India, China, Japan, and Australia regions, there is an increase in the geriatric population with the rise in chronic diseases with the increase in the number of procedures and treatments of chemotherapy. Furthermore, in a substantial percentage of all end-stage renal disease cases, dialysis patients are treated via a catheter conducted in an outpatient environment, decreasing the ESRD hospitalization by allowing non-emergency interventional procedures to be performed. 

China's vascular access devices market is expected to have a considerable proportion of the vascular access devices market during the projected period. The increase in infections, cancer, and other ailments is expected to drive market expansion. Also, advanced technology and healthcare services are propelling market growth. 

On the other hand, Japan vascular access devices market and India's vascular access devices market are expected to record a promising share in the vascular access devices market in the coming years. Improving healthcare facilities, favorable reimbursement policies, and increasing healthcare spending contribute to market growth.

KEY MARKET PLAYERS

The Top companies leading in the APAC Vascular Access Devices Market profiled in the report are Becton Dickinson and Company, C.R.Bard Inc, Smiths Medical, Inc., Teleflex Incorporated, B Braun Melsungen Ag, AngioDynamics, Terumo Corporation, Nipro Medical Corporation, Edwards Lifesciences Corporation, Ameco Medical, Romsons Scientific & Surgical Pvt. Ltd, and Prodimed.,