Intravenous Equipment Market Projected CAGR of 5.6% to Reach US$ 16.1B by 2027

The intravenous equipment market is currently valued at US$ 12.3 billion and is expected to grow at a compound annual growth rate (CAGR) of 5.6% to reach US$ 16.1 billion by 2027.

The intravenous (IV) equipment market is a crucial segment of the global healthcare industry, providing essential tools and devices for administering fluids, medications, and nutrients directly into a patient's bloodstream. Intravenous therapy has become a cornerstone of modern medicine, offering a swift and efficient means of drug delivery and fluid replacement, particularly in emergency situations and for patients with chronic illnesses. The market for intravenous equipment has witnessed steady growth over the years, primarily due to the increasing prevalence of chronic diseases, the aging population, and the constant evolution of medical technology.

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Market Opportunity:

The intravenous equipment market is ripe with opportunities, driven by several factors. First and foremost, the rising incidence of chronic diseases, such as diabetes, cancer, and cardiovascular conditions, has propelled the demand for intravenous therapies. Moreover, as healthcare providers continue to recognize the effectiveness of IV treatments, there is an increasing trend towards home-based intravenous therapies, creating a promising niche market. The development of innovative and user-friendly IV equipment, including smart pumps and wearable infusion devices, presents further growth opportunities, enhancing patient convenience and treatment outcomes.

In addition to the growth potential within the traditional healthcare setting, the COVID-19 pandemic has underscored the importance of intravenous equipment. The rapid development and deployment of vaccines worldwide necessitated a robust infrastructure for intravenous administration, further emphasizing the market's significance. Beyond this, intravenous equipment also plays a pivotal role in managing critically ill patients in intensive care units, emergency departments, and during surgeries, thereby presenting lucrative opportunities for market expansion.

Market Challenges:

Despite the promising opportunities, the intravenous equipment market faces several challenges. One of the significant issues is the high cost associated with certain types of IV equipment, including advanced infusion pumps and accessories. This can strain healthcare budgets and limit access to life-saving therapies in certain regions. Furthermore, the growing concern about medical errors in IV therapy, such as dosing inaccuracies or infection risks, calls for stringent regulations and quality control measures to ensure patient safety.

Moreover, the market is marked by intense competition among key players, driving a constant need for innovation and product differentiation. Rapid technological advancements and the need for compatibility with electronic health records require substantial investments in research and development, which can be a barrier to entry for smaller companies. Additionally, the increased preference for non-invasive drug delivery systems like oral medications or transdermal patches poses a challenge to the intravenous equipment market's growth.

Key Players:

Becton, Dickinson and Company
B. Braun Melsungen AG
Fresenius SE & Co. KGaA
Baxter International Inc.
Smiths Medical
ICU Medical, Inc.
C. R. Bard, Inc.
Terumo Corporation
Moog, Inc.
AngioDynamics, Inc.

Competitive Landscape:

BD (Becton, Dickinson and Company) has recently acquired Cytognos, a privately-owned company based in Salamanca, Spain, that specializes in flow cytometry technologies for the diagnosis of blood cancer, detection of minimal residual disease, and immune monitoring study for blood disorders.

Intravenous Equipment Industry Research Segmentation

By Product :
IV Catheters
Securement Devices
Administration Sets
Infusion Sets
Drip Chambers
Others

End User :
Hospitals
Clinics
Ambulatory Care Centers
Others

By Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

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This release was published on openPR.