The global peripheral intravenous (IV) catheter market is undergoing a paradigm shift driven by shifting disease patterns. Over the past thirty years, diseases such as cardiovascular, urological, and neurological disorders have surged, surpassing cancer as major causes of death and morbidity globally. In New York, where over 40 percent of adults suffer from chronic ailments, chronic diseases contribute to 23 percent of all state hospitalizations. This trend is expected to fuel the market's growth as peripheral IV catheters play a pivotal role in treating chronic disorders necessitating hospitalization.
According to Data Bridge Market Research, the Global Peripheral Intravenous (IV) Catheter Market was valued at USD 1.67 billion in 2021 and is expected to reach USD 2.63 billion by 2029, registering a CAGR of 5.5% during the forecast period of 2022-2029.
“Burgeoning requirement for peripheral intravenous (IV) catheters across healthcare settings drive the market growth”
The burgeoning requirement for peripheral intravenous (IV) catheters across healthcare settings acts as a significant driver in the global market. IV catheters are fundamental for various medical interventions, including fluid administration, medication delivery, and blood sampling. As healthcare needs diversify and expand, the demand for IV catheters surges across hospitals, clinics, ambulatory care, and home care settings. This broad applicability of IV catheters to address a wide range of medical requirements drives market growth, making them an indispensable tool in modern healthcare practices.
What restraints the growth of the global peripheral intravenous (IV) catheter market?
“Dearth of skilled professionals”
The global peripheral intravenous (IV) catheter market encounters a restraint due to a dearth of skilled professionals. Inserting and managing IV catheters requires specialized training, and the shortage of adequately trained healthcare personnel can lead to improper catheter placement, increased infection risks, and reduced patient comfort. This scarcity hampers efficient catheter management and contributes to complications, ultimately affecting patient outcomes.
Segmentation: Global Peripheral Intravenous (IV) Catheter Market
The peripheral intravenous (IV) catheter market is segmented on the basis of product type, technology, applications, and end user.
- On the basis of product type, the peripheral intravenous (IV) catheter market is segmented into short peripheral IV catheters, integrated/closed PIVC.
- On the basis of technology, the peripheral intravenous (IV) catheter market is segmented into conventional PIVC, safety PIVC.
- On the basis of applications, the peripheral intravenous (IV) catheter market is segmented into oncology, gastroenterology, renal diseases, pediatric diseases, infectious disease, and others.
- On the basis of end user, the peripheral intravenous (IV) catheter market is segmented into hospitals, ambulatory surgical center, clinics, home use, and others.
Regional Insights: North America dominates the Global Peripheral Intravenous (IV) Catheter Market
North America's supremacy in the peripheral intravenous (IV) catheter market stems from multiple factors. The region boasts a substantial geriatric population, driving consistent demand for IV catheters. Additionally, its well-developed healthcare infrastructure and high healthcare spending support advanced medical technologies. The continuous technological advancements further contribute to the region's leadership in the market.
Anticipated growth in the Asia-Pacific peripheral intravenous (IV) catheter market is attributed to several factors. The region's rising disposable income levels empower more individuals to access healthcare services, bolstering the demand for IV catheters. The improvement in healthcare infrastructure, along with a thriving medical tourism industry, reinforces the region's attractiveness for medical interventions, contributing to significant market growth during the forecast period.
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The Prominent Key Players Operating in the Global Peripheral Intravenous (IV) Catheter Market Include:
- BD (U.S.)
- B. Braun Melsungen AG (German)
- Smith Medical (U.S.)
- Terumo Corporation (Japan)
- Vygon (France)
- ICU Medical, Inc (U.S.)
- VOGT Medical (Germany)
- RenovoRx, Inc (U.S.)
- Retractable Technologies Inc (U.S.)
- Nipro (Japan)
- MedSource Labs (U.S.)
- Argon Medical Devices, Inc (U.S.)
- Intra Special Catheters GmbH (Germany)
- Greiner Bio-One International GmbH (Austria)
- Medical Components, Inc (U.S.)
- Ares Medikal (Turkey)
- ACE MEDICAL COMPANY (U.S.),
- Merit Medical Systems (U.S.)
- Heka s.r.l, (Italy)
- RAUMEDIC AG (Germany)
- Teleflex Incorporated (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global peripheral intravenous (IV) catheter market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Peripheral Intravenous (IV) Catheter Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
