Pricing Pressures and Slow Product Adoption Leading to Asia-Pacific Vascular Access Market Declines
Vancouver, BC (PRWEB) April 22, 2015 -- According to a recently published report by iData Research (http://www.idataresearch.com), the Asia-Pacific peripheral intravenous catheter (PIVC) market is valued at nearly $150 million. Growth in this segment is driven primarily by the increasing hospitalization rate in the region, and will hinge upon increasing the rate of conversion to safety PIVCs, particularly in South Korea.
“Due to pricing pressure on both conventional and safety PIVCs, the market is expected to decline slightly over the forecast period,” explains Dr. Kamran Zamanian, CEO of iData. “Price reductions in response to competitors’ entry to the market and measures by governments to reduce healthcare expenditures are contributing to overall declines.” Unit sales growth is anticipated to remain stable.
Other key findings from the iData Research report entitled Asia-Pacific Markets for Vascular Access Devices:
China will see significant growth over the forecast period as the government aims to expand access to healthcare to a greater portion of the population.
The lack of infrastructure in India will present significant challenges in the expansion of the vascular access market.
The vascular access device market in Japan is the largest in the Asia-Pacific region due to the much higher patient population and the number of hospital beds.
South Korea will be the fastest growing market in the Asia-Pacific region due to a rapidly aging population; demand for dialysis and central venous catheters is growing. The use of implantable ports is also increasing to meet the rising incidence of cancer.
Leading Competitors
C. R. Bard is the leading competitor in the overall Asia-Pacific vascular access device market, with specialities in implantable ports and peripherally inserted central catheters (PICCs). The adoption of PICCs in Australia has generated significant revenue for C. R. Bard.
Other notable competitors in the Asia-Pacific market for vascular access devices include Becton Dickinson, Teleflex Medical, Terumo, Medikit, Covidien, B. Braun, Smiths Medical, Cook Medical, among others.
For Further Information
More on the vascular access device market in the Asia-Pacific region can be found in the report published by iData entitled Asia-Pacific Markets for Vascular Access Devices. This report covers Japan, South Korea, Australia, India and China, and includes the following market segments: implantable ports, port needles, central venous catheters, dialysis catheters, peripherally inserted central catheters, and peripheral intravenous catheters.
The full iData series on the market for vascular access devices covers the U.S., Brazil, Japan, South Korea, Australia, India, China, and 15 countries in Europe. Full reports provide a comprehensive analysis including units sold, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment.
Register online or email us at info(at)idataresearch(dot)net for an Asia-Pacific Markets for Vascular Access Devices report brochure and synopsis.
About iData Research
iData Research (http://www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Diabetes Drugs, Diabetes Devices, Pharmaceuticals, Anesthesiology, Wound Management, Orthopedics, Cardiovascular, Ophthalmics, Endoscopy, Gynecology, Urology and more.
Marvin Cidamon, iData Research, http://www.idataresearch.com/, +1 (604) 266-6933 Ext: 205, [email protected]
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