Vascular Access Device Market Trends

Growth Drivers

• Rising Burden of Diseases – The growing concern about the changing lifestyle as well as the increasing burden of various chronic diseases worldwide which requires surgical procedures such as chemotherapy, cardiovascular interventions, neurovascular interventions, and others is expected to raise the demand for vascular access devices over the forecast period. Further, the increasing number of hospital admissions is also anticipated to boost the market growth. As per a study, almost 90% of hospital inpatients require IV therapy when hospitalized.
• Increasing Ubiquity of Chronic Kidney Disease (CKD) & Rising Number of Patients on Hemodialysis – Vascular access is needed for patients undergoing the procedures such as dialysis. Hence, with the increasing number of patients suffering from chronic kidney disease (CKD) and many of them undergoing dialysis, the vascular access device market is expected to grow further. For instance, the prevalence of CKD was estimated to be ~13% in 2019, whereas patients with end-stage kidney disease (ESKD) in need of renal replacement therapy worldwide were estimated to be between ~4.9 and ~7 million. Moreover, it is observed that around 600,000 Americans undergo dialysis every year.
• Growing Geriatric Population – The elderly population is one of the most vulnerable patient groups who undergo vascular access for the administration of drugs and fluids. Thus, the rising geriatric population in the world is considered to be a primary factor for market growth. United Nations Department of Economic and Social Affairs, the World Population Ageing 2020 report revealed that in the year 2020, worldwide there were ~727 million people aged 65 years or above.
• Widening Scope of Vascular Screening – The use of vascular screening in the medical field is rapidly rising as it is one of the only effective and noninvasive ways of gauging risk levels for several conditions it investigates and has the ability to detect health issues that are not yet obvious to the patient. For instance, as per recommendations, a patient with a risk for vascular disease or a personal or family history of cardiac disease needs to get a vascular screening done every 3 to 5 years. This, as a result, is expected to boost the market growth.

Challenges

• Possibility of vascular access failure - All types of vascular access may cause problems that require further treatment or surgery, the most common problems include low blood flow due to blood clotting in the access. It is considered a major challenge and can be anticipated to hamper the market growth.
• Concern for exposure to infections
• Side-Effects associated with long-term usage