Intravenous (IV) Equipment Market to Grow with a CAGR of 5.27% through 2028
Home infusion
therapy on the rise is expected to drive the Global Intravenous (IV) Equipment Market
growth in the forecast period, 2024-2028
According to
TechSci Research report, “Intravenous (IV) Equipment Market – Global
Industry Size, Share, Trends, Competition Forecast & Opportunities,
2028”, the Global Intravenous (IV) Equipment Market stood at USD 13.57 billion in 2022 and is anticipated to grow with a CAGR of 5.27% in the forecast
period, 2024-2028. One of the primary drivers of the Global Intravenous
Equipment Market is the escalating prevalence of chronic diseases such as
diabetes, cardiovascular disorders, and cancer. As these conditions become more
prevalent globally, there is a corresponding increase in the demand for
intravenous therapies for the administration of medications and fluids. IV
equipment plays a crucial role in delivering precise and controlled doses,
contributing to effective disease management and improved patient outcomes.
The world's
demographic landscape is undergoing a significant shift, with a growing aging
population. Elderly individuals often require complex medical interventions,
including intravenous therapies. Additionally, the rise in the number of
surgical procedures, both elective and emergency, further propels the demand
for intravenous equipment. Intravenous administration is a preferred method for
delivering anesthesia, analgesics, and other critical medications during
surgical interventions, emphasizing the pivotal role of IV equipment in modern
healthcare settings.
The continual
evolution of technology is a key driver shaping the Global Intravenous
Equipment Market. Advanced IV equipment, including smart pumps, safety infusion
systems, and wireless connectivity, has revolutionized the precision and safety
of intravenous therapy. Smart pumps, for example, allow for accurate drug
dosage calculations, reducing the risk of medication errors. Wireless
connectivity enables real-time monitoring and data transmission, enhancing
healthcare professionals' ability to track and manage IV treatments remotely.
These technological advancements not only improve patient safety but also
contribute to the overall efficiency of healthcare delivery.
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"Global Intravenous (IV) Equipment Market”
The Global Intravenous
(IV) Equipment Market is segmented into Type, End-User,
Regional Distribution, And Company.
Based
on the Type, Infusion pumps emerged as the dominant segment in the global
market for Global Intravenous (IV) Equipment in 2022. Infusion pumps help mitigate the risk of
medication errors compared to manual administration methods. These devices are
programmable, allowing healthcare providers to input specific parameters for
infusion, such as the rate and duration. This reduces the likelihood of dosage
miscalculations and enhances patient safety, addressing a critical concern in
healthcare delivery. The portability and compact design of modern infusion
pumps contribute to enhanced patient mobility. Patients can receive intravenous
therapies while being mobile within the hospital or even in a home care
setting. This flexibility is particularly valuable for individuals undergoing
long-term treatments or those who prefer the convenience of receiving therapy
outside traditional healthcare facilities. Ongoing advancements in technology
have led to the development of smart infusion pumps with features such as wireless
connectivity and integration with electronic health records. These
technological enhancements improve the overall efficiency of IV therapy
management, allowing healthcare professionals to remotely monitor patients and
adjust treatment parameters as needed.
Based
on the End-User, Hospitals emerged as the dominant segment in the global market
for Global Intravenous (IV) Equipment Market in 2022. Hospitals are equipped to handle emergencies
and critical care situations where intravenous therapies play a crucial role.
IV equipment is essential for rapid administration of life-saving medications
and fluids in emergency departments, intensive care units (ICUs), and other
critical care settings within hospitals. The time-sensitive nature of critical
care underscores the significance of having a readily available and
well-equipped IV infrastructure. Inpatient settings within hospitals, including
medical and surgical wards, often require continuous or intermittent
intravenous therapies for patient care. Surgical procedures, both routine and
complex, frequently involve the use of IV equipment for anaesthesia, pain
management, and post-operative care. The demand for IV equipment is thus
integral to the functioning of inpatient and surgical departments within
hospitals. Hospitals typically have the infrastructure, resources, and
personnel to handle complex medical procedures and advanced technologies. The
availability of trained healthcare professionals, including nurses and
clinicians experienced in IV therapy administration, further supports the
extensive use of IV equipment within hospital settings.
North
America emerged as the dominant player in the Global Intravenous (IV) Equipment
Market in 2022, holding the largest market share. The United States and Canada have
advanced healthcare systems with well-established regulatory frameworks. This
allows for the efficient adoption and integration of the latest medical
technologies, including intravenous equipment. North America typically has a
high level of healthcare expenditure. The significant investment in healthcare
infrastructure, research and development, and medical technology contributes to
the dominance of the region in the global market. The region is a hub for
medical device innovation and research. Companies based in North America often
lead in developing and introducing cutting-edge intravenous equipment, meeting
the demand for advanced and efficient healthcare solutions. The United States and Canada together
have a substantial population with diverse healthcare needs. This creates a
considerable market for intravenous equipment, driven by the demand for various
medical treatments and therapies.
Major
companies operating in Global Intravenous (IV) Equipment Market are:
- 3D Systems, Inc.
- 3M Company
- Baxter International
- Becton, Dickinson and Company
- B. Braun Melsungen AG
- EuroLife Healthcare Pvt. Ltd
- Henry Schein, Inc
- ICU Medical, Inc
- Polymedicure
- Terumo Corporation
- Teleflex Incorporated
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“The
Global Intravenous (IV) Equipment Market is poised for robust growth in the
coming years. Anticipated advancements in medical technology, increasing
prevalence of chronic diseases, and a growing aging population are key
contributors to the expanding demand for IV equipment. The relentless pursuit
of enhanced patient outcomes, coupled with a focus on personalized medicine, is
propelling research and development efforts within the IV equipment sector. The
rise of home infusion therapy and the integration of smart technologies, such
as wireless connectivity and data analytics, are transforming the delivery of
intravenous treatments, making them more accessible and patient centric.
Moreover, as global healthcare infrastructure continues to evolve and emerging
markets witness greater access to medical services, the demand for advanced IV
solutions is expected to surge.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Intravenous
(IV) Equipment Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028 Segmented Type (IV Catheters, Infusion Pumps, Securement
Devices, Administration Sets, Drip Chambers, Other Types), By End-User
(Hospitals, Ambulatory Surgical Centres, Other End-Users) Region and
Competition”, has evaluated the future growth potential of Global
Intravenous (IV) Equipment Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Intravenous
(IV) Equipment Market.
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