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(MoneyNewsWire.Net, May 04, 2018 ) The global vascular access device market is expected to reach USD 5.45 Billion by 2022 from USD 3.87 Billion in 2017, at a CAGR of 7.1%. The major drivers for the market include the growing prevalence of lifestyle diseases, an increase in the number of chemotherapy procedures and the increasing use of vascular access devices in pediatric patients.
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The report analyzes the market by type, application, end user, and region. The type segment includes central vascular access devices, peripheral vascular access devices, and accessories. The central vascular access devices segment is expected to account for the largest share of the vascular access devices market in 2017. The dominant share of the market is attributed to the fact that central vascular access devices are used in chemotherapy and for the treatment of cardiovascular disorders and chronic kidney disorders.
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Based on application, the market is broadly classified into drug administration, fluids and nutrition administration, blood transfusion, and diagnostics and testing. The drug administration segment is estimated to account for the largest share of the market in 2017, the growth of drug administration segment is attributed to the high usage of vascular access devices for drug administration for the treatment of infections, cancer, and other diseases.
The end user segment of the vascular access device market includes hospitals, clinics and ambulatory care centers, and other end users. In 2017, the hospital segment is expected to dominate this market. The large share of this segment can be attributed to the fact that a majority of vascular procedures are performed in hospital settings.
The geographic segments in this report include North America, Europe, Asia-Pacific, and RoW. Of these, the North American segment is expected to account for the largest share of the market in 2017. The large share of this segment can primarily be attributed to the high prevalence of cardiovascular diseases in the U.S.; an increase in the number of cancer cases; and an increase in research and clinical trials for vascular access devices.
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The major players in this market include Major players include Becton Dickinson and Company (U.S.), Smiths Medical, Inc. (U.K.), and C.R.Bard, Inc. (U.S.). Other players include Teleflex Incorporated (U.S.) B.Braun Melsungen Ag (Germany), Angiodynamics (U.S.), Terumo Corporation (Japan), Nipro Medical Corporation, Edwards Lifesciences Corporation (U.S.), Ameco Medical (Egypt), Romsons Scientific & Surgical Pvt. Ltd (India), and Prodi med (France).
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