BURLINGTON, Mass., May 29, 2014 /PRNewswire/ -- Decision Resources Group finds that the vascular access device market of France, Germany, Italy, Spain and the United Kingdom will grow at a modest 2.5 percent compound annual growth rate through 2022. The major drivers of growth in this market will be the aging population as well as the increasing adoption of premium-priced safety, antimicrobial, antithrombogenic and power-injectable devices. However, European hospitals will increasingly buy commoditized vascular access devices through high-volume tendering agreements, which allow them to purchase the devices at a discount. An influx of low-cost competitors from countries such as India will create further price competition, limiting market revenues.
Other key findings from the Medtech 360 report entitled European Markets for Vascular Access Devices 2014:
- E.U. Sharps Directive: The E.U. Sharps Directive, which was enacted in May 2010, required member states to implement needlestick safety provisions by May 2013. Although some European countries have had legislation of this nature in place for years, other countries have only more recently enacted legislation promoting adherence to the directive. For example, Italy's very recent policy implementation in March 2014 will drive particularly rapid adoption of safety short peripheral intravenous catheters over the next five years.
- PICCs: Compared to the U.S. market, peripherally inserted central catheters (PICCs) are underpenetrated in Europe. As a result, this market will grow at a compound annual growth rate of nearly 17 percent through 2022, driven by the lower risk of complications associated with these products and a growing number of nurses being trained to place these devices. In fact, there is a clear correlation between the number of nurses placing PICCs and the penetration of these devices in each country.
- Implantable ports: Another unique factor in the European market compared to the U.S. is the slower adoption of implantable ports. This can be largely attributed to the rapid adoption of PICCs in Europe, the high cost of implantable ports and varying reimbursement levels in the European countries.
Comments from Decision Resources Group Analyst Jonathan Sawatsky:
- "Antithrombogenic devices have the potential to disrupt the European PICC market. AngioDynamics and Teleflex Medical have each developed proprietary, nonleeching antithrombogenic polymers, and AngioDynamics was the first to launch one of these devices in Europe with its BioFlo PICC in July 2012. However, more clinical trial data will be needed to spur widespread adoption."
- "The emergence of quick vascular access grafts such as CryoLife's HeRO graft, which just received CE mark approval in June 2013, will somewhat reduce the need for acute and chronic dialysis catheters through 2022. While facilities had previously used dialysis catheters when waiting two to three weeks for the graft to mature, these new grafts allow for vascular access in a matter of days."
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