According to London-based data and analytics company GlobalData, the centralvascular access devices market will grow from $1.9 billion in 2015 to just over $2.3 billion by 2022.
Amen Sanghera, the analyst covering medical devices, said, “China and India will be responsible for a substantial proportion of the vascular access devices market growth over the forecast period, with CAGRs of 4.4% and 2.2% respectively. The European market, however, will see slow growth, with all five European countries registering CAGRs of less than 1 percent. The U.S. will continue to dominate, with its share slipping slightly from 40.7% in 2015 to 39.0% by 2022.”
Biospectrum reports that vascular devices most commonly come in the form of thin and flexible catheters that are designed to intravenously deliver medication, nutrition, and fluids, and withdraw blood samples for further testing from large veins.
