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“Browse 664 market data Tables and 64 Figures spread through 460 Pages and in-depth TOC on “Vascular Access Devices Market by Type (Central (PICC, Tunneled, Non-Tunnled, Port (Conventional, Power)), Peripheral (Venous (PIVC, Midline), Arterial) Intraosseous Device), Route of Insertion (IV, SC, IO), Application, End User – Global Forecast to 2030”

The global vascular access devices market, valued at US$5.60 billion in 2023, is forecasted to grow at a robust CAGR of 7.1%, reaching US$5.99 billion in 2024 and an impressive US$9.05 billion by 2030. The increasing prevalence of chronic diseases, such as cancer and chronic kidney diseases, drives market growth. Additionally, increased government support for the construction of healthcare infrastructure and technological advancements are expected to impact market growth. The increasing number of hospitals globally also poses an opportunistic factor for market growth.

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Browse in-depth TOC on ‘Vascular Access Devices Market’

650 – Tables

60 – Figures

350 – Pages

Based on type, the vascular access device market is divided into central venous access device, peripheral vascular access device, intraosseous vascular access device, and accessories. Among these, in 2023, the central venous access device segment accounted for the highest market share in the vascular access device market. This is owing to increasing incidence of cancer cases and chronic diseases such as chronic kidney diseases. Additionally, increasing chemotherapy procedure fuels the market growth for vascular access devices. Central venous access devices are further divided into peripherally inserted central catheters, tunnelled catheters, non-tunnelled catheters, and implantable ports. Among these, the peripherally inserted central catheter to hold the largest market share in 2023. As peripherally inserted central catheters are less likely to pose any complications after the insertion of the device, thus majority of the times in developed regions these devices are preferred over other central venous access devices. As the prevalence of chronic diseases increases the need of central line is rising for long-term therapy, thus increasing the demand for central venous access devices across the globe. Among these, tunnelled catheters to grow at the fastest rate during forecast period. This is due to increasing prevalence of chronic kidney diseases. During haemodialysis procedure these tunnelled catheters are preferred as these are associated with less complications and can be there in the body for 3 to 6 months.

Based on route of insertion, the vascular access device market is segmented into intravenous route of insertion, subcutaneous route of insertion, and intraosseous route of insertion. Among these, the intravenous route of insertion segment accounts for the largest share of the vascular access device market in 2023. As majority of the vascular access devices such as peripherally inserted central venous catheters, tunneled catheter, non-tunneled catheters, peripheral intravenous catheter, midline catheters, winged or butterfly needles are inserted via intravenous route. As the usage of these devices is increasing due to rising prevalence of lifestyle diseases, thus contributing to the market growth. Additionally, for subcutaneous and intraosseous route of insertion the specific healthcare professionals are required for the insertion of the devices. Thus, majority of the healthcare professionals prefer the intravenous route of insertion for various applications. The subcutaneous segment to hold the second largest position, owing to increasing incidence of cancer cases across the globe.

By region, the vascular access device market is divided into 5 main regions, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these regions, in 2023, the North American region holds the largest market share in the vascular access device market, owing to increasing prevalence of chronic diseases such as chronic kidney diseases, cancer, cardiovascular diseases and among others. For instance, as per National Cancer Institute, there will be 2,001,140 new cancer cases in 2024 in US. Additionally, the center for disease control and prevention stated in 2023, that more than 1 in 7 adults, (approximately 35.5 million people) are estimated to have one chronic kidney disease (CKD).

Furthermore, they stated in February 2024 that 129 million American suffer at least one major chronic disease. As these diseases require generally long-term hospitalizations, which includes intravenous medication administration, thus driving the market growth. The North American vascular access device market is divided into US, and Canada. Among these, US holds the largest market share in 2023, owing to the presence of key manufacturing players in the region is supporting the market growth. As these companies are heavily investing for research and development thus contributing to the market growth in US. Additionally in Canada the growth of the vascular access device market is due to increasing clinical trials conducted in this region. For instance, in August 2024 the phase 3 clinical trial on intranasal fentanyl in preterm infants undergoing peripherally inserted central catheter placed got completed at Mount Sinai Hospital in Canada. As the number of clinical trials increases, the demand for these devices is also rising, supporting market growth in the region. The Asia Pacific region accounted for a significant share of the global vascular access device market in 2023 and is expected to grow at the fastest CAGR during the forecast period, driven by an increasing aging population and the rising prevalence of chronic diseases. The Asia Pacific region includes Japan, China, India, Australia, South Korea, and the rest of the region. Among these, China held the largest share of the Asia Pacific vascular access device market in 2023, attributed to the country’s rapidly aging population and the growing prevalence of chronic diseases. For instance, in 2022, there were 280.04 million people aged 60 and above, with chronic diseases affecting 66.3% of older adults, including conditions like cardiovascular diseases and cancers. This growing healthcare demand is necessitating efficient vascular access devices for long-term therapies further increasing demand for vascular access devices. Additionally, the rising cancer cases and upsurging number of hospitals are contributing to the regional growth. For instance, in 2022, China recorded for 4,824,700 new cancer cases and 2,574,200 cancer-related deaths highlighting the need for intravenous treatments. Furthermore, as per CEIC data, number of hospitals in China increased to 38,4000 in 2023 up from 36,976 in 2022. Thus, increasing the demand for vascular access device continues to grow. Furthermore, India accounts for second largest share in Asia Pacific vascular access device market, owing to increasing healthcare expenditure.

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Some of the prominent players operating in the market include ecton, Dickinson and Company (US), Teleflex Incorporated (US), ICU Medical, Inc. (US), B. Braun SE (Germany), AngioDynamics, Inc. (US), Medtronic, Plc (Ireland), Merit Medical Systems Inc. (US), Terumo Corporation (Japan), Nipro (Japan), Vygon (France), AMECATH (Egypt), Medical Components, Inc. (US), HealthLine Medical Products (US), Cook Medical (US), Access Vascular, Inc. (US), and among others.

Company Evaluation Matrix: Key Players

We have selected 25 market vendors based on their capabilities, innovations, product offerings, and business strategies. A comprehensive list of all the vendors in this market was created through a product mapping strategy. The vendors are placed into four categories based on their performance in each criterion: stars, Emerging Leaders, Pervasive Players, and Participants. Stars are companies with strong product portfolios and a significant market presence. Emerging Leaders focus on innovation and enhancing their product range. Pervasive Players have robust business strategies but limited product diversification. Participants have growth potential but currently lack strong business strategies. This classification helps stakeholders assess vendor strengths and market positioning effectively.

Market Ranking:

The ranking of companies in the Vascular access device market has been determined through a market share analysis, conducted after thorough secondary research and validated by primary respondents. This ranking considers parameters such as revenue generated from vascular access devices, product portfolio breadth and depth, innovation, and approvals and launches. Based on this analysis, the top three players leading the market are Becton Dickinson and Company (US), Teleflex Incorporated (US), and ICU Medical (US). These companies dominate due to their strong market presence, extensive product portfolios, and continuous innovation in vascular access device market.

Becton Dickinson and Company (US)

Becton, Dickinson and Company (US) company involve in developing, manufacturing and distributing medical devices, laboratory equipment and diagnostic products. The company holds a leading position in the global vascular access device market. This is due to their strong geographic presence across 61 countries, and distribution network. The company operates in 3 business segments: BD Medical, BD Life Sciences, and BD Interventional. The company through their medical delivery solutions unit within BD Medical offers Peripherally inserted central catheter, Peripheral intravenous catheter, central venous catheter, dialysis catheters. Additionally, through Peripheral intervention unit with BD interventional segment the company offers chronic dialysis catheters and ports, which cater to the vascular access device market. They invest in research & development which helps in driving innovation and enhancing patient outcomes. By leveraging their huge product portfolio and global reach, they are maintaining dominance in the vascular access device market across various geographies and healthcare settings.

Teleflex, Incorporated (US)

Teleflex Incorporated (US) is one of the leading players in the vascular access device market. The company offers vascular access products under the brand name ARROW. The company focuses on research and development to offer innovative products across the healthcare settings. For instance, in the company’s fiscal year 2023 they invested USD 154.4 million in R&D. The company is continuously launching products catering to vascular access device market across the globe. For instance, in December 2024 they launched pressure injectable Arrowg+ard Blue Plus catheter in Europe, Middle East & Africa. Such strategic efforts are demonstrating the company’s commitment to provide advanced devices tailored to regional healthcare needs. As the company continuously invests in R&D and expands their presence in various markets across the globe, the company is solidifying their presence in vascular access device market.

ICU Medical (US)

ICU Medical, Inc. (US) is one of the key players in the vascular access device market. Their key strength lies in its strong product portfolio. ICU Medical offers a wide range of vascular access device products such as central venous catheters, peripheral IV catheters, needle-free connectors, intraosseous needles and other related accessories. They are known for producing high-quality products that meet stringent regulatory standards and undergo rigorous testing to ensure reliability and performance. The company operates in 3 business segments, Consumables, infusion systems, and vital care. The consumables segment focuses on vascular access products thus this segment caters to the vascular access device market. The company mainly has presence in US, Europe, Latin America, Middle east & Africa, and Asia Pacific regions. The company’s growth is attributed by their recent acquisition of Smiths Medical from Smiths Group LLC in January 2022 which broadened their vascular access device portfolio and helped in expanding their market presence.

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“Browse 267 market data Tables and 71 Figures spread through 285 Pages and in-depth TOC on “Pen Needles Market by Type (Standard Pen Needles, Safety Pen Needles), Length (8mm, 5mm), Setting (Home Care Settings), Application (Glucagon-Like Peptide-1 Therapy), Mode of Purchase (Over the Counter Purchase, Online Purchase) – Global Forecast to 2030”

The pen needles market valued at US$ 1.69 Billion in 2023, is forecasted to grow at a robust CAGR of 9.2%, reaching US$ 1.81 Billion in 2024 and an impressive US$ 3.08 Billion by 2030. The pen needles market has been segmented based on type, length, application, mode of purchase, setting and region. The key factors driving the market growth of the pen needles market include the rising incidence of chronic diseases, favourable reimbursements in certain countries, and decreasing prices of insulin formulations. Factors that provide opportunities for market players include the growing preference for biosimilar drugs, emerging economies to offer high-growth potential, and rising healthcare expenditure on diabetes. Supportive government regulations, such as rigorous safety standards by the US FDA and favourable reimbursement policies, are also expected to fuel the uptake of technologically advanced products. A combination of these factors is expected to facilitate the increased adoption of pen needles in healthcare systems.

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Browse in-depth TOC on ‘Pen Needles Market’

200 – Tables

80 – Figures

300 – Pages

In this report, the pen needles market has been segmented on the basis of type, length, application, mode of purchase, setting and region.

The pen needles market is segmented into standard pen needles and safety pen needles on the basis of type. Standard pen needles are budget-friendly needles for insulin delivery, which explains their popularity in low-income markets and among the uninsured. These needles are simple and basic, which makes them easier to manufacture. There is no requirement for ultra-thin design or sophisticated coating that is required for more expensive options. Cost is a major determinant in healthcare in developing nations and low-income brackets. With standard pen needles, accessible options for diabetic patients who need insulin therapy are readily available without worry of financial suffocation. Moreover, for the Grey market practioners in developed countries where people do not have insurance, these needles are a cheap and functional alternative. Thus, standard pen needles are vital because they meet minimum requirements of diabetes control which helps increase the availability of insulin delivery worldwide.

The pen needles market is segmented into prescription-based, over the counter (OTC) purchase, online purchase and other modes of purchase on the basis of mode of purchase. Online purchase segment is expected to grow at the highest CAGR during the forecast period of the global pen needles market. As e-commerce grows across the world, the demand for pen needles is also on the rise as new customers are drawn to online shopping. Marketplaces make purchase easier for patients who can now shop for pen needles among other products while sitting in their homes. This is particularly helpful for people with movement disabilities or people living in far flung areas who don’t have a ready access to local pharmacies. Businesses engaged in diabetes care and treatment are benefiting enormously as most e-commerce websites offer better rates, promotions, and subscriptions which aid in controlling diabetes. Furthermore, aspects like covert packaging and home delivery make e-commerce users feel more secure and comfortable. The vast variety of products and brands available in these platforms allows customers more purchasing freedom, which aids in increasing their adoption.

The pen needles market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa and GCC Countries on the basis of geographic region. North America holds the largest share of the pen needles market in 2024. North America sees one of the maximum diabetes prevalence rates of the world with the U.S and Canada heads in the top of the insulin-dependent population. As per CDC, more than 37 million Americans suffer from diabetes, and approximately 1.6 million have type 1 diabetes. Thus, Canada also bears a huge burden of diabetes cases with an estimated total of 11.7 million that are affected by diabetes or prediabetes. The prevalence of such patients is relatively high, thus increasing demand for pen needles since it’s the basic need for managing blood glucose. Pen needles require good infrastructure and wide awareness in place with patients desiring easy-to-handle devices such as pen needles, thereby augmenting the uptake of this equipment. Increased concern regarding proper management of diabetes helps in sustaining the demand in the region.

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Prominent players in this market include Embecta Corp. (US), Novo Nordisk A/S (Denmark), Ypsomed AG (Switzerland), B. Braun SE (Germany), Owen Mumford (UK), Terumo Corporation (Japan), NIPRO Corporation (Japan), Allison Medical, Inc. (US), AdvaCare Pharma (US), Berpu Medical Technology Co., Ltd. (China), ARKRAY, Inc. (Japan), GlucoRx Limited (UK), HTL-STREFA (Poland), UltiMed, Inc. (US), Hindustan Syringes and Medical Devices (India), Artsana Group (Italy), PromiseMed Medical Devices Inc. (Canada), Montmed, Inc. (Canada), Trividia Health, Inc. (US), VOGT Medical Vertrieb GmbH (Germany), Van Heek Medical (Netherlands), Simple Diagnostics (US), IYON Medical (Turkey), Links Medical Products, Inc. (US), and MHC Medical Products, LLC (US).

EMBECTA CORP. (US)

One of the main products traded by Embecta in the global market is pen needles. The company operates from a US-based facility, as well as having production plants in Ireland and China. The company’s vast range of pen needles, syringes, and safety injection devices is a fundamental factor that helps it withstand competition in global market. Alongside the standard pen needles, the company has a safety pen needle portfolio. The company approaches the growth by both inorganic and organic mechanisms to cement its position in the pen needle market. For instance, on November 2022, Embecta Corporation (US) signed a agreement with Intuity Medical, Inc. (US) under which Embecta sales representatives in the US will promote Intuity Medical’s high-tech POGO automatic blood glucose monitoring system to healthcare professionals.

NOVO NORDISK A/S (DENMARK)

The major source of revenue for the company is its Diabetes and Obesity Care segment. The global diabetes market provides an opportunity for the firm to generate revenues through its Diabetes Care segment. The company obtained approximately 40 million diabetic patients in 2022, from 32 million in 2020.Novo Nordisk is well poised in production with ~16 production sites across five regions and a growing product portfolio, including pen needles. The R&D centers of the company are set up in China, Denmark, India, the UK, and the US. Novo Nordisk increased R&D investments from 13.6% in 2022 to 14.0% in 2023. The company also announced that it would be expanding its presence in the pen needles market through a research hub in the greater Boston metro area, which was announced in March 2023.

B. BRAUN SE (GERMANY)

B. Braun SE is another major player of the pen needle market. In terms of product, the group has a comprehensive presence across geographical boundaries. Also, it has recognition for its branded products, notably Omnican Fine and Omnican Fine Plus injection pen needles. The innovations included in the products such as three facet grinding tip and silicone coating or thin-wall technologies used for injecting pen needles will help the firm obtain a strong presence in branding at the overall markets. The company has a huge geographical presence and subsidiaries in 64 countries. Therefore, it is not dependent on a single market, thus sustaining its leading position. The company intends to focus on new technology and digital transformation for healthcare medical devices.

For more information, Inquire Now!

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email: Send Email
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/pen-needles-market-75948613.html

Press Release Distributed by ABNewswire.com

To view the original version on ABNewswire visit: Pen Needles Market worth $3.08 billion by 2030