Market research indicates technological innovation and a growing elderly population are fueling the gradual growth. According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the mature and commoditized United States vascular access device (VAD) market will see slow growth, largely driven by the expansion of the high-utilizing elderly population. Price competition will restrict average selling prices, but a few innovative products will command premium prices.
Almost all vascular access procedures use short peripheral intravenous catheters (PIVCs). Regulation under the Needlestick Safety and Prevention Act has encouraged a switch to safety short PIVCs, which prevent needlestick injuries among healthcare workers during device placement. It is estimated that more than 385,000 needlestick injuries occur in the US every year. In terms of units sold, standard short PIVCs will see a decline of 3.5 percent per year through 2016, while the premium-priced safety type will grow by just over one percent per year.
An additional safety consideration is infection among patients. Over 80,000 catheter-related bloodstream infections occur in the US each year. The Centers for Disease Control (CDC) recommend antimicrobial central venous catheters for patients using a catheter for more than five days, while the Centers for Medicare & Medicaid Services (CMS) announced in 2008 that they would no longer provide reimbursement for treatment of hospital-acquired infections, including catheter-related infections. As a result, premium-priced antimicrobial-coated catheters will see growth for patients requiring extended catheterization.
Another segment that will see greater-than-average growth will be power-injectable devices, which allow for the injection of the contrast media needed for computed tomography (CT) scans, eliminating the need to insert a second vascular access device.
“Most vascular access devices are commodity products,” said MRG Analyst Melissa Furukawa. “Group purchasing organizations (GPOs) exert a strong downward pressure on prices, and encourage manufacturers to provide a wide range of products so that they can be offered in bundles. This favors large companies such as Beckton, Dickinson and Company (BD) and C. R. Bard. Nevertheless, product innovation for safety and improved function allows for some competition on features between premium-priced devices. Arrow International (a Teleflex Medical company), B. Braun, BD, Smiths Medical and AngioDynamics have all recently received Food and Drug Administration (FDA) approval for new vascular access devices.”
Millennium Research Group’s US Markets for Vascular Access Devices 2013 report includes unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for short peripheral intravenous catheters (PIVCs), central venous catheters (CVCs), implantable ports, dialysis catheters and peripherally inserted central catheters (PICCs) sold in the United States.
About Millennium Research Group
Millennium Research Group (www.MRG.net ), a Decision Resources Group company (www.DecisionResourcesGroup.com ), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources Group
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Source: Millennium Research Group www.mrg.net  via Business Wire