The Asia Pacific Vascular Access Device Market would witness market growth of 7.9% CAGR during the forecast period (2023-2030).
Hospitals regularly get millions of patients for peripheral intravenous catheter operations. The venous system can be accessed with short-term and long-term venous access devices (VADs). Peripherally placed central catheters, implantable ports, and tunnel catheters are some of the essentials. In the market, changes in biocompatibility, flexibility, and the use of innovative materials are influencing demand dynamics. The ability to plan and carry out complex surgeries has been made possible by recent stunning breakthroughs in catheter distal tips. Using VAD has subsequently increased patient quality of life and enhanced patient survival.
End users have been able to address these issues due to advancements in catheter tips. A significant development that has enabled medical professionals and clinicians to adopt the proper approach to managing VAD-related infections and plan out appropriate therapy is the rising incidence of diagnosis of VAD-related infection.
Taiwan, which has one of the highest rates of treated renal failure in the world, offers complete coverage for kidney replacement therapy (KRT) without requiring a copayment through its National Health Insurance. Not only is dialysis free but there are also no price variances for patients based on the type of dialysis. In Japan, everyone is entitled to free national health insurance. For full access to dialysis, including all necessary drugs and consumables, each patient pays a copayment of up to $90 per month. Thus, the region presents lucrative growth prospects for the market.
The China market dominated the Asia Pacific Vascular Access Device Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $708.6 million by 2030. The Japan market is registering a CAGR of 7.2% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 8.5% during (2023 - 2030).
Based on Application, the market is segmented into Drug Administration, Fluid & Nutrition Administration, Blood Transfusion and Diagnostics & Testing. Based on End User, the market is segmented into Hospital, Clinics & Ambulatory Care Centers and Others. Based on Type, the market is segmented into Central Vascular Access Device (Tunneled Catheters, Peripherally Inserted Central Catheters, Non-tunneled Catheters, and Implanted Ports), Peripheral Vascular Access Device (Peripheral Midlines Devices, Peripheral Short Devices and Butterfly/winged Steel Needles) and Accessories. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Vascular Access Device Market is Projected to reach USD 9 Billion by 2030, at a CAGR of 7.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ICU Medical, Inc., Teleflex, Inc., B. Braun Melsungen AG, Medtronic PLC, Terumo Corporation, Becton, Dickinson and Company, AngioDynamics, Inc., Edwards Lifesciences Corporation, Nipro Corporation and Romsons.
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