Peripheral I.V. Catheter Market Applications, Competitors, Geographical segmentation and Demand

Peripheral I.V. catheters are intravenous devices that are made of user-friendly, non-irritant material, such as silicon. These devices are used for either infusing medication directly into the veins or drawing blood; being made of a safe material, they can remain in contact with the patient's skin or vessels for extended period. The market is witnessing growth due to the rising geriatric population and increasing lifestyle-disease prevalence.

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On the basis of type, the peripheral I.V. catheter market is bifurcated into integrated/closed type and short type. In 2015, the larger revenue share in the market was accounted for by the short catheters. In the forecast period, the same type is expected to continue holding a 74.2% market share in 2022. These are inserted into the peripheral vein either on the arm or hand for the collection of blood samples or administration of fluids and medication. The highest CAGR in the forecast period is predicted to be witnessed by the integrated/closed type.

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The major driver of the peripheral I.V. catheter market is the surging global geriatric population. The World Aging Population 2013, a report published by the United Nations Department of Economics and Social Affairs mentioned that in 2013, about 841 million people across the globe were in the 60 and above age bracket; the number is further predicted to exceed 2 billion by 2050. The elderly are more susceptible to infections due to their compromised immune system, and also take longer to recover. To efficiently treat this large population, the demand for medication would rise, which would further drive the demand for such catheters.

The potential for growth of the peripheral I.V. catheter market is huge in the emerging economies. With the improving economy of these countries, such as Brazil, India, and China, the expenditure on improving their respective healthcare facilities is expected to increase. Further, due to inadequate attention on healthcare education, these countries witness high incidence rates of numerous chronic diseases. The increased focus and spending on the healthcare system are expected to drive the demand for peripheral I.V. catheters in such countries, thereby boosting the market.

Thus, the market for peripheral I.V. catheters is set to witness remarkable growth in the forecast period due to rising incidence of chronic as well as lifestyle diseases and the rising elderly population.

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