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Peripheral Intravenous Catheter (PIVC) Market to reach USD 8,730 Million - Risk-adjusted numbers with COVID-19 analysis change scenario

12-02-2022 01:40 PM CET | Health & Medicine

Press release from: Acumen Research and Consulting

Peripheral Intravenous Catheter (PIVC) Market to reach USD

The Global Peripheral Intravenous Catheter (PIVC) Market Size was valued at USD 5,182 Million in 2021 and is predicted to be worth USD 8,730 Million by 2030, with a CAGR of 6.2% from 2022 to 2030.

Increased healthcare spending and scientific breakthroughs in the healthcare system will have a positive impact on the peripheral intravenous (IV) catheter market size. Furthermore, the introduction of PIVC advanced technologies will boost sales even further. The increasing ability to afford costly medical treatment options such as catheterization will continue to be a major driver of industry growth. Catheterization methodology technological advancements are also anticipated to drive the peripheral IV catheter market trend. Increasing the use of harmless, non-irritant, and user-friendly materials used in the manufacturing of PIVC is said to eliminate affiliated ill effects as well as risks, thereby extending expected PIVC access. Furthermore, manufacturers have already begun to improve PIVC design in order to avoid the difficulties established in previous designs. This is regarded as a significant factor affecting the PIVC market share.

A peripheral intravenous catheter (PIVC) is a narrow, flexible tube used to deliver prescription drugs and health supplements into a blood vessel in the leg or arm. The two different types of peripheral intravenous catheters are short peripheral intravenous catheter as well as integrated/closed catheter. Peripheral IV catheters are being utilized to withdraw fluids from blood vessels for diagnostics in addition to administration of medication. Sophisticated peripheral intravenous catheters have additional safety characteristics to prevent needle stick injury problems. Moreover, due to its immediate communication with the systemic circulation, peripheral intravenous catheters are made of non-irritant components such as synthetic material, that have no adverse affect even when left in interaction with the human body circulatory system.

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Global Peripheral Intravenous Catheter Market Dynamics

Peripheral intravenous catheters are frequently used for intravenous therapy. Medicine delivered via a peripheral IV catheter enters the blood directly and acts quickly. They are frequently used in medical emergencies, surgical patients, as well as individuals suffering from emesis, as well as pediatric patients, subconsciously patients, as well as the aging population who have difficulty swallowing medications. Aspects such as the aging population and scientific breakthroughs in surgical or treatment technologies, which result in more medical procedures, are propelling the worldwide peripheral IV catheters market growth. However, aspects such as the high price of integrated or closed catheters, distressing implantation, and the need for a qualified healthcare professional for using peripheral intravenous catheters are limiting the worldwide peripheral intravenous (IV) catheters market's revenue.

Peripheral Intravenous Catheter Market Regional Outlook

The global market for peripheral intravenous catheters is divided into five geographic regions: Europe, North America, Asia-Pacific, Latin America, and the Middle East and Africa. Geographically, North America is expected to witness a significant share of the global market for peripheral intravenous (IV) catheters. Major factors including the presence of large aging populations, largely sophisticated healthcare infrastructure, rising healthcare expenditure, and technological advancements leading to rising rates of medical interventions in the US and Canada are driving growth in the peripheral IV catheters market in these regions. Besides that, due to rising discretionary income, constantly improving healthcare systems, and a thriving medical tourism sector, Asia-Pacific is the fastest growing region in the peripheral intravenous (IV) catheters market.

Disease prevalence and the frequency of epidemic diseases drive demand for PIVCs

Increasing chronic disease occurrence and inflammation incidences will continue to drive demand for catheterization is the major factor driving the PIVC market size in the coming years. The increasing intensity of epidemic diseases is expected to drive significant demand for peripheral intravenous catheters for patient treatment, diagnostic testing, and therapeutic interventions. Comparatively to other catheters, PIVCs are likely to make up a significant portion of this. Catheterization method advanced technologies are also expected to drive demand for peripheral intravenous catheters (PIVC) market share. Furthermore, manufacturers have also already begun to improve PIVC design in order to avoid the difficulties associated with conventional designs. This is regarded as a significant factor influencing the PIVC market growth.

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Market Segmentation

The global peripheral intravenous catheter market is divided into product and end-users, according to Acumen Research and Consulting. In terms of product, the segment has been classified into short PIVCs and integrated or closed PIVCs. In terms of the end-users, the industry is categorized into hospitals, ambulatory surgical centers (ASCs), clinics, and others.

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Peripheral Intravenous Catheter Market Players

The global peripheral intravenous catheters market is insanely competitive, with both global and regional players present. Due to advancements in technology, small and medium-sized corporations are concentrating on market saturation in order to gain market share. Some of the prominent peripheral intravenous catheter market companies are Dickinson and Company, Terumo Corporation, Teleflex Incorporated, C.R. Bard Inc., Becton, B. Braun Melsungen AG, VIGMED AB, Smiths Medical Inc., Tangent Medical Technologies Inc., Argon Medical Devices Inc., and Medical Components Inc.

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Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

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