Share this article Share this article USD 8.03 billion by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 7.4% from 2021 – 2028 Technological advancements in the development of medical devices coupled with a rise in the number of surgeries conducted across the globe requiring the use of advanced medical devices are making a higher impact on the market growth. In addition to this, increasing cases of blood transfusions, especially in major developed countries, and growing patient's need for central venous access during long-term intravenous therapy such as chemotherapy and antimicrobial therapy is further fostering the market growth. Furthermore, a rise in government spending for the improvement of healthcare infrastructure is expected to support market development in the longer run.