DUBLIN, Nov 22, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Global Vascular Access Devices Outlook 2022" report to their offering.
The growing incidence of chronic diseases, such as cancer, diabetes, and blood pressure, has further propelled the need for hospitalization. A majority of patients who get hospitalized receive some sort of vascular access treatment during their stay. The vascular access devices are intended for various purposes such as providing parenteral nutrition, transfusion of blood product, providing avenue for hemodynamic monitoring, providing avenue for diagnostic testing, and administration of fluids and medications. The global vascular access devices market is anticipated to grow at a CAGR of 6% during the forecasted period (2016-2022). The market growth is expected mainly due to the growing strategic alliances, technological advancements, growing incidences of cancer and renal disorders, increasing awareness about vascular access devices, and rising incidences of obesity. Based on product type, peripheral devices are expected to dominate the market. However, the central vascular access devices segment is expected to witness the highest growth in the coming years. In the central vascular access devices, the leading and fastest-growing segment is the Peripherally Inserted Central Catheters (PICCs), which has a wide range of applications and are commonly used for delivering chemotherapy and antibiotics, as well as drawing blood. In terms of application of the devices, medication administration is most common application observed amongst all the types of vascular access devices; however, hemodialysis monitoring has an increasing usage in patients with renal diseases. Furthermore, in terms of route of administration, intravenous route accounts for the largest share in the vascular access devices market. On the other hand, based on end-user, the hospital segment is expected to account for largest share.