Market Trends of Europe Vascular Access Device Industry
The Administration of Drugs Segment is Expected to Garner Significant Share of the Market
- The segment includes the vascular access devices which are used for the administration of drugs. Vascular access devices are used for various functions, including administering drugs, drawing blood, and specialized treatments like hemodialysis. Vascular access catheters can be inserted either peripherally in a patient's arm or centrally, such as in the patient's jugular.
- The administration of drugs segment is expected to grow in the forecast period with the factors owing to the high usage of vascular access devices for drug administration for the treatment of infections, cancer, and other lifestyle diseases.
- Research studies have highlighted the safety and efficacy of vascular access devices for drug administration in patients, which are expected to boost the adoption rate. For instance, a study published in the International Journal of Clinical Practice in December 2021 stated the widespread use of vascular access devices has offered the safe administration of drugs, electrolytes, fluids, parenteral nourishment, and blood products in Europe. The study further mentioned that over 60% to 90% of patients admitted to hospitals were prescribed an intravenous (IV) vascular access device.
- Furthermore, the burden of certain chronic diseases is high, which is also anticipated to increase the demand for vascular access devices for drug administration, boosting the segment's growth, for instance, as per the data published by the European Kidney Alliance in 2021, over 75.0 million people suffer from chronic kidney disease (CKD) in Europe. As kidney transplants and dialysis are the only choices of treatments for most of the patients suffering from CKD, the demand for vascular access devices in the patient population is likely to boost over the studied period.
- Therefore, the high burden of chronic diseases and the high efficacy and safety offered by vascular access devices are likely to boost the growth of the administration of drugs segment over the analysis period.
Understand The Key Trends Shaping This Market
Download PDF
Germany is Expected to Hold a Significant Share in the Europe Vascular Access Device Over the Forecast Period
- Germany is expected to witness significant growth over the forecast period owing to factors such as cardiovascular diseases, a vast geriatric population, a high number of chemotherapies, and growing awareness regarding vascular access devices among patient populations.
- For instance, according to data published by Germany Trade and Invest by the Federal Ministry of Economic Affairs and Climate Action, in 2022, over 24.0 million people will be 65 years and older (approximately 31% of the total population) by 2035. Since the elderly population is more vulnerable to several lifestyle disorders, the demand for surgical treatments is anticipated to grow over the coming years. Moreover, the same source further detailed that long-term diseases and chronic conditions account for 80% of German healthcare spending. Such factors are likely to augment the adoption of treatments and surgeries for medical ailments, ultimately boosting the country's demand for vascular access devices.
- Furthermore, according to the Robert Koch Institute 2021 report, cardiovascular diseases are the leading cause of death in Germany, causing a total of approximately 40% of all deaths. The demand for surgical procedures is likely to surge shortly to combat the overall fatalities caused by CVDs within the country. Since the delivery of fluids, blood products, medications, and other treatments to the bloodstream for patients with CVDs is made possible via central venous access devices (CVADs) or central venous catheters (CVCs), the demand for such devices is anticipated to grow.
- Also, the recent developments by the market players are expected to increase the penetration of vascular access devices in Germany, which will bolster the market growth in the country. For instance, in September 2022, Bentley, a Germany-based medical device company, acquired the rights to the GoBack catheter from Upstream Peripheral Technologies. The acquisition will enable the company to manufacture vascular access devices such as peripheral catheters in Germany by 2025.
- Therefore, owing to the high burden of chronic diseases, the vast geriatric population, and the recent developments by the market players, the market in Germany is anticipated to grow over the coming years.
Get Analysis on Important Geographic Markets
Download PDF
