Canada’s vascular access market includes medical devices with the ability to access a patient’s veins and arteries as well as accessories to improve safety and performance. By 2026, Canada’s vascular access market expects to reach $352.5 million at a CAGR of 2%. Overall, there are many vascular access devices, and iData’s analysis includes a wide variety of these.
The markets/products included are:
- Acute central venous catheters (CVCs)
- Peripherally inserted central catheters (PICCs)
- Peripheral intravenous catheters (PIVCs)
- Midline catheters
- Vascular access ultrasound devices
- Tip-placement systems and accessories
- Catheter securement devices
- Syringe and needles
- Pre-filled syringes
- Skin antiseptics
- Needleless connectors
- Enteral syringes
- Spinal needles
- Epidural needles
Market Summary – Present and Future
In 2020, the largest market segment was the syringe and needle market, with PIVC’s and catheter securement devices trailing in second and third place. Furthermore, the devices within each market comprise high-volume sales made at relatively low average selling prices (ASPs). Each of the devices represents standard products for everyday use within vascular access treatments. The needle and syringe, PIVC, and catheter securement markets collectively comprised over half of the total market value. As a result of the COVID-19 pandemic in 2020, most segments in iData’s analysis experienced deviations from expected growth patterns. However, iData’s analysts do not predict that the pandemic will incur significant long-term effects.
Over the forecast period and into 2026, iData’s analysts predict that the relative distribution of market share will remain consistent. Many of the segments captured within this analysis represent mature markets with relatively low prospects for future development. In particular, many of which are driven by demographic factors. Furthermore, Canada is a traditionally cost-conscious market, which iData’s analysts expect to have a limiting effect on future market growth by applying downward pressure on device costs.
Canada’s Vascular Access Market Drivers and Limiters
Competitive pressures, non-device competition, group purchasing organizations, and the limited uptake of premium accessories are some of the key limiters for Canada’s vascular access market. In terms of the markets’ competitive breakdown, it can appear top-heavy. Competitive pressures within this market create a high motivation for manufacturers to capture as much business as possible. Conversely, non-device competition limits this market as clinicians resort to safer treatment plans that encourage better patient outcomes over vascular access devices. Group purchasing organizations tend to limit the ASP of products and make it difficult for newer, smaller companies to break into the market. Lastly, clinicians do not view the increased price for accessories as being worthwhile and therefore cause a delay in the uptake of these products.
In contrast, demographic factors, technological advancements, safety devices, and infection prevention drive Canada’s vascular access market. By 2026, the elderly population in Canada expects to experience growth. Indeed, the increase in the elderly population is anticipated to lead to more hospitalizations and, therefore, demand for vascular access devices. Due to the saturation in unit sales within Canada’s vascular access market, manufacturers are pushing their innovative abilities and releasing technological improvements, encouraging growth. Additionally, safety devices, due to health concerns, are advancing and penetrating the market. Because of this, safety devices are beginning to apply upward pressure to ASPs, allowing for market growth. Similarly, antimicrobial devices that decrease the risk of patients developing bloodstream infections are increasing in popularity and developing quickly.
Canada’s Vascular Access Market – A Deeper Look
Although this blog may only cover some of the key market trends, limiters, and drivers for Canada’s vascular access market, more information is included in our free executive summary and our full market report. Click below to receive a free executive summary to continue learning about Canada’s vascular access market.