(PharmaNewsWire.Com, May 21, 2021 ) The global vascular access devices market is projected to reach USD 5.45 Million by 2022 from USD 3.87 Million in 2017, at a CAGR of 7.1% during the forecast period.
This is an emerging and fragmented market with various regional and national players. In 2016, Becton Dickinson and Company (U.S.) dominated the peripheral vascular access devices market and accounted for approximately 67% of the market share. Whereas, the central venous access devices market was dominated by C. R. Bard, Inc. (U.S.), and Smiths Medical, Inc. (U.K) which, together, held ~70% of the market.
Becton Dickinson and Company (U.S.) dominated the global vascular access devices market in 2016. The company offers a comprehensive range of peripheral vascular access devices used in different application areas. It offers its vascular access devices products through its Medication and Procedural Solutions segment. To maintain its leading position in the market, and increase its customer base in the vascular access devices market, the company mainly focuses on acquisitions and agreements. In December 2016, Becton, Dickinson and Company announced its plans to acquire C.R. Bard, Inc (U.S.) in 2017 for USD 24 Billion. The company aims to lead the central vascular access devices with this acquisition. This acquisition has made Becton Dickinson and Company the top most player in both the markets. In 2015, the company also acquired Care Fusion Corporation, (U.S.). This acquisition enabled the company to strengthen its presence in the medication segment.
C. R. Bard, Inc. (U.S.) held the second position in the global vascular access devices market in 2016. The company offers vascular access devices through its Oncology segment. The Oncology segment offers a wide range of implantable ports used in chemotherapy. The company has a strong foot hold in the United States, European and Asia-Pacific market. The company is to be acquired by Becton Dickinson and Company (U.S.) in 2017.
Smiths Medical, Inc. (U.K.) is another leading player in the market. The company focuses on organic growth strategies like product development. The company focuses on R&D as a part of its growth strategy. The revenue of the company was USD 1.2 billion in 2016 out which approximately 2-5% was spent on R&D.
Some of the other players competing in this market are Other prominent players in this market include Teleflex Incorporated (U.S.), B. Braun Melsungen AG (Germany), AngioDynamics (U.S), Terumo Corporation(Japan), Vygon Ltd. (U.K.), Edward Lifesciences Corporation (U.S.), AMECO Medical (Egypt), Prodimed(France) Romsons Scientific and Surgical Pvt. Ltd (India), and Nipro Corporation (Japan).
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