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The Europe Vascular Access Device Market is projected to register a CAGR of 2.5% during the forecast period, 2022 – 2027.
COVID-19 has impacted the demand for medical devices in many different ways. While the devices used to treat COVID-19 patients in intensive care have seen a spike in demand, the adoption of other devices has been adversely affected due to postponed or canceled procedures and surgeries. For instance, as per the article titled "Impact of the COVID pandemic on vascular access creation for hemodialysis in 16 Spanish haemodialysis centres" published in Europe PMC in April 2022, with an increase in central venous catheter (CVCs) in comparison to prosthetic arteriovenous fistula (AVFs), COVID highlighted a public health system crisis that has impacted vascular access (VA) for hemodialysis (HD). The study's objective was to investigate how the COVID pandemic affected the development of VAs, the central venous catheter (CVC)-related hospitalizations, and complications in HD patients dialyzed in 16 Spanish HD units across three distinct geographic areas. When compared to a pre-COVID period, a decrease in HD sessions that did not meet the HD dose regimen was observed. Thus, such studies demonstrate that COVID-19 significantly impacted the adoption of vascular access devices among the patient population within the region.
Furthermore, factors such as the growing prevalence of chronic disease, an increasing number of chemotherapy procedures with high hospitalization rates, rising use of vascular access devices among pediatric patients, and growing initiatives from the European authorities are likely to have a positive impact on the market growth. Over the past decade, there has been a rise in the prevalence of several chronic diseases that need vascular access treatment. Some of the major chronic diseases include cancer, kidney failure, and heart disease, among others, which are prevalent within the European region. For instance, as per the article titled "Epidemiology of cardiovascular disease in Europe" published in Nature Reviews Cardiology in September 2021, cardiovascular disease (CVD) remains the most common cause of death in the European region. More than 60 million potential years of life are lost to CVD in Europe annually. Such an increase in the patient population is ultimately boosting the growth of surgeries within the region to avoid severe fatalities, thereby driving the demand for vascular access devices.
However, market growth is expected to be limited by pricing pressures across Europe. Many European healthcare facilities often tend towards lower-cost products, which forces many competitors to lower their prices. Furthermore, preferences for high-cost, premium-priced versions of products, such as those with antimicrobial coatings, are still developing in many countries across Europe. As such, premiums on many of these devices are still being kept low and, therefore, there is not a significant upward force on the market from conversion to these products.
Scope of the Report
As per the scope of the report, vascular access devices (VADs) are inserted into the veins for diagnostic and therapeutic reasons, such as blood sampling, central venous pressure readings, administration of medication, fluids, total parenteral nutrition (TPN), and blood transfusions. These are inserted peripherally or centrally. The Europe Vascular Access Device Market is segmented by Device Type (Central Vascular Access Devices, Peripheral Vascular Access Devices), By Application (Administration of Drugs, Administration of Fluid and Nutrition, Diagnostics and Other Applications), By End User (Hospitals/Clinics, Diagnostic Centers and Others) and Geography (Germany, United Kingdom, France, Italy, Spain, and Rest of Europe). The report offers the value (in USD million) for the above segments.
|By Device Type|
|Administration of Drugs|
|Administration of Fluid and Nutrition|
|Diagnostics and Testing|
|By End User|
|Other End Users|
|Rest of Europe|
Key Market Trends
The Administration of Drugs Segment is Expected to Garner Significant Share of the Market
The administration of drugs segment is estimated to account for the largest share of the market as the growth of the segment is attributed to the high usage of vascular access devices for drug administration for the treatment of infections, cancer, and other lifestyle diseases. Catheters are used for a variety of functions, including administering drugs, drawing blood, and specialized treatments like hemodialysis. Vascular access catheters can be inserted either peripherally in a patient’s arm or centrally, such as in the patient’s jugular. Moreover, according to the article titled “The state of vascular access teams: Results of a European survey” published in January 2022, by Cortés Rey N, Pinelli F, van Loon FHJ, et.al, the safe administration of drugs, electrolytes, fluids, parenteral nourishment, and blood products is made possible by the widespread use of vascular access devices. Between 60 and 90 percent of patients who are admitted to hospitals are prescribed an intravenous (IV) device for the duration of their stay.
Additionally, as per the data published by European Kidney Alliance in 2021, a staggering 75 million people suffer from chronic kidney disease (CKD) in Europe. As kidney transplants and dialysis are the only choice of treatments for the majority of the patients suffering from CKD, the demand for vascular access devices in the patient population is likely to boost over the studied period since patients with CKD on dialysis are often prescribed with 10 to 12 medications.
Thus, these aforementioned factors are likely to boost the growth of the administration of drugs segment over the analysis period.
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Germany is Expected to Hold a Significant Share in the Europe Vascular Access Device During Forecast Period
Germany is one of the major economies in the European region with high healthcare expenditure and a technologically advanced healthcare system. The vascular access device market is expected to grow in Germany at a significant pace due to an increase in cardiovascular diseases, a surge in the geriatric population, an increasing number of chemotherapies, and growing awareness regarding vascular access devices among the patient populations.
According to data published by Germany Trade and Invest, supported by the Federal Ministry of Economic Affairs and Climate Action, in 2022, 24 million people will be aged 65 years or older (approximately 31% of the total population) by the year 2035. Since the elderly population is more vulnerable to several lifestyle disorders, the demand for surgical treatments is anticipated to grow over the coming years, in turn driving the market's growth. Moreover, the same source further detailed that long-term diseases and chronic conditions account for 80% of German healthcare spending. Such factors are likely to augment the adoption of treatments and surgeries for medical ailments, ultimately boosting the demand for vascular access devices in the country.
Furthermore, according to the Robert Koch Institute-2021 report, cardiovascular diseases are the leading cause of death in Germany, causing a total of approximately 40% of all deaths. The demand for surgical procedures is likely to surge in the near future to combat the overall fatalities caused by CVDs within the country. Since the delivery of fluids, blood products, medications, and other treatments to the bloodstream for patients with CVDs are made possible via central venous access devices (CVADs) or central venous catheters (CVCs), the demand for such devices is anticipated to grow.
Therefore, the aforesaid factors are expected to augment the market growth in Germany over the coming years.
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The Europe vascular access devices market is highly competitive and several small-to-mid-sized companies are posing strong competition to gain market share. A few companies operating in the market include Smiths Medical, Inc., B. Braun Melsungen AG, Prodimed, Becton, Dickinson and Company, Teleflex Incorporated, Edwards Lifesciences Corporation, AngioDynamics, Terumo Medical Corporation, 3M, and Nipro Medical Corporation.
In September 2021, Medtronic received CE mark approval for its radial artery access portfolio that includes the Rist radial access selective catheter and the Rist 079 radial access guide catheter, the first catheter especially created for the special demands of accessing the neurovasculature to treat stroke, brain aneurysms, and other conditions through the radial artery as opposed to access through the transfemoral artery.
In November 2020, Vascular Barcelona Devices (VB Devices) reported that the Crabclamp product has been certified as a Class 1s medical device and has received the CE mark. During endovascular treatments, the Crabclamp is a unique device that makes it simple for surgeons and their aids to fasten guidewires and catheters.
Table of Contents
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing prevalence of Chronic Disease
4.2.2 Increasing Number of Chemotherapy Procedures with High Hospitalization Rates
4.2.3 Rising Use of Vascular Access Devices among Paediatric Patients
4.3 Market Restraints
4.3.1 Risks Associated with Catheter Usage
4.3.2 Stringent Regulations and Product Recalls
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Device Type
5.1.1 Central Vascular Access Devices
22.214.171.124 Peripherally Inserted Central Catheters
126.96.36.199 Percutaneous Non-tunneled Catheters
188.8.131.52 Other Central Vascular Access Devices
5.1.2 Peripheral Vascular Access Devices
184.108.40.206 Peripheral Catheter
220.127.116.11 Midline Catheter
18.104.22.168 Other Peripheral Vascular Access Devices
5.2 By Application
5.2.1 Administration of Drugs
5.2.2 Administration of Fluid and Nutrition
5.2.3 Diagnostics and Testing
5.2.4 Other Applications
5.3 By End User
5.3.2 Diagnostic Centers
5.3.3 Other End Users
5.4.2 United Kingdom
5.4.6 Rest of Europe
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Smiths Medical, Inc.
6.1.2 B. Braun Melsungen Ag
6.1.4 Becton, Dickinson and Company
6.1.5 Teleflex Incorporated
6.1.6 Edwards Lifesciences Corporation
6.1.8 Terumo Medical Corporation
6.1.10 Nipro Medical Corporation
6.1.11 Baxter International Inc.
6.1.12 Fresenius Medical Care AG & Co. KGaA
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Europe Vascular Access Device Market market is studied from 2019 - 2027.
What is the growth rate of Europe Vascular Access Device Market?
The Europe Vascular Access Device Market is growing at a CAGR of 2.5% over the next 5 years.
Who are the key players in Europe Vascular Access Device Market?
Smiths Medical, Inc., B.Braun Melsungen Ag, Prodimed, Becton, Dickinson and Company, Teleflex Incorporated are the major companies operating in Europe Vascular Access Device Market.