The Global Market for Intravenous Equipment is Projected to Reach US$13.2 Billion by 2022
Growing Dependence of Modern
Treatment Procedures on IV Drug Therapy to Drive Demand for Intravenous
Equipment, According to a New Report by Global Industry Analysts,
Inc.
GIA
launches comprehensive analysis of industry segments, trends, growth drivers,
market share, size and demand forecasts on the global Intravenous Equipment
market. The global market for Intravenous
Equipment is projected to reach US$13.2 billion by 2022, driven by growing
dependence on intravenous drug therapy and need for accurate administration of
intravenous fluids in surgical and non-surgical treatment procedures.
Intravenous
equipment is widely used in healthcare settings for accurately delivering
nutrients and minerals, fluids, and drugs such as antibiotics, analgesics, and
antipyretics to a patient. Technological developments in drug delivery
systems, growing incidence of chronic lifestyle disorders and infectious diseases,
development of advanced specialty intravenous catheters, use of biocompatible materials
to manufacture components of IV systems, represent primary factors driving the importance
of IV drug delivery in healthcare facilities. Aging population and increased
access to hospice and end-of-life palliative care will continue to drive demand
for IV equipment for drug and nutrient infusion. Implementation of a number of government
initiatives will also push up adoption of intravenous management of diseases. Rise
in cancer, diabetes, gastrointestinal diseases, neurological conditions and
malnutrition; increase in healthcare spending and development of healthcare
infrastructure represent the other macro drivers influencing market growth,
especially in developing countries.
Intravenous
infusion pumps and sets represents the largest as well as the
fastest growing product market, with growth governed by technological advancements,
adoption of infusion solutions in home care settings, favorable reimbursement
coverage, and ongoing transition from conventional insulin pumps to more
advanced, tubeless pumps, such as OmniPod to ensure continuous administration
of drugs to patients. Intravenous catheters comprising peripheral catheters, midline
peripheral catheters, peripherally inserted central catheter, and central venous
catheters, is forecast to emerge as the fastest growing market segment. From
vascular or arterial line catheters designed to read blood oxygen levels
directly from the patient’s arm, to epidural catheters that administer morphine
drugs straight into the spinal cord to ease pain, the changing dynamics of
intravenous equipment is centered upon improving the patient’s quality of life.
As stated by the new market research report on Intravenous
Equipment, the United States represents the largest market worldwide.
Asia-Pacific ranks as the fastest growing market with a CAGR of 7.3% over the
analysis period, led by factors such as growing population and parallel
increase in healthcare burden, improving healthcare infrastructure, growing per
capita healthcare spending, increased acceptance of IV drug delivery supported
by growing awareness over catheter maintenance and the ensuing reduction in catheter-related
infections, and increased establishment of alternate care sites such as clinics,
home-healthcare, and long-term care facilities.
Major
players in the market include AngioDynamics Inc., Arcomed AG, ASCOR S.A., B.
Braun Melsungen AG, Baxter International Inc., Becton, Dickinson and Company,
C.R. Bard Inc., F. Hoffmann-La Roche Ltd., Fresenius SE & Co. KGaA, Halyard
Health Inc., ICU Medical Inc., Insulet Corp., Medtronic PLC, Moog Inc., Nipro
Corporation, Smiths Medical, Tandem Diabetes Care Inc., Teleflex Inc., and
Terumo Corp. among others.
The
research report titled “Intravenous Equipment: A
Global Strategic Business Report” announced by Global Industry Analysts Inc.,
provides a comprehensive review
of market trends, issues, drivers, mergers, acquisitions and other strategic
industry activities of global companies. The report provides market estimates
and projections for all major geographic markets such as the US, Canada, Japan,
Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe)
Asia-Pacific (China, and Rest of Asia-Pacific), Latin America and Rest of World.
The report analyzes the global and regional markets by the following Product
Segments - Intravenous Catheters, and Intravenous Infusion Pumps & Sets.
For
enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
To
connect with us, visit our LinkedIn page.
Comments
Post a Comment