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Peripheral IV Catheters Global Market Demand Analysis, Manufacturers Share, Regions, Risk Analysis, Driving Forces and Application, Forecast To 2033
Peripheral IV Catheters Global Market
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According to The Business Research Company's, The peripheral iv catheters market size has grown strongly in recent years. It will grow from $5.19 billion in 2023 to $5.58 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to growing healthcare facilities, aging population and chronic diseases, surgical and medical procedures, increased hospital admissions, demand for vascular access devices.
The peripheral iv catheters market size is expected to see strong growth in the next few years. It will grow to $7.67 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to minimally invasive procedures and catheters, short peripheral catheters for outpatient care, catheter-related bloodstream infection prevention, expansion of home healthcare, integration of antimicrobial coatings.. Major trends in the forecast period include ultrasound-guided peripheral iv catheter insertion, reduced complications and catheter failure, wireless communication for catheter monitoring, patient-centered catheter care, shift toward disposable catheters.
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Market Drivers and Trends:
The rising prevalence of chronic diseases is expected to propel the growth of the peripheral IV catheters market. Peripheral intravenous catheters are commonly used in the management of various chronic diseases such as cancer, cardiovascular diseases, and others. For instance, in March 2022, according to the Australian Bureau of Statistics, an Australia-based self-governing statutory entity in charge of gathering and analyzing information as well as factual proposals, almost half of the population (46.6%, or 11.6 million) had a minimum of one chronic illness. The most common chronic conditions were mental and behavioral problems (20.1%), back pain (15.7%), and arthritis (12.5%). Therefore, the rising prevalence of chronic diseases is expected to propel the growth of the peripheral IV catheters market.
Technological advancements are shaping the peripheral IV catheters market. Many companies in the market are developing new products to provide technically enhanced products to their users. B. Braun Medical, a US-based infusion therapy company, launched the new Introcan Safety 2 IV cathetar with one-time blood control. The new product makes the IV access safer for clinicians by reducing the risk of needlestick injuries.
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Major Key Players of the Market:
Becton, Dickinson and Company, B. Braun Melsungen AG, Smiths Medical Inc., Vygon SAS, Terumo Corporation, Teleflex Incorporated, NIPRO Medical Corporation, Argon Medical Devices Inc., Medical Components Inc., Vascular Pathways Inc., Tangent Medical Technologies Inc., Vigmed AB, Venner Medical, C. R. Bard Inc., MedSource Labs, Intra Special Catheters GmbH, Greiner Bio-One International GmbH, Ares Medikal, Ace Medical Company, Heka s.r.l, Raumedic AG, Vogt Medical Vertrieb GmbH, RenovoRx Inc., Retractable Technologies Inc., AngioDynamics Inc., ICU Medical Inc., Medtronic plc, Edwards Lifesciences Corporation, Cook Group Incorporated, Stryker Corporation, Boston Scientific Corporation, Johnson & Johnson, Abbott Laboratories, Merit Medical Systems Inc.
Peripheral IV Catheters Market 2024 Key Insights:
• The peripheral iv catheters market size is expected to see strong growth in the next few years. It will grow to $7.67 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%.
• Growing Prevalence Of Chronic Diseases Drives Expansion Of The Peripheral Iv Catheters Market
• Technological Advancements Reshaping The Peripheral Iv Catheters Market Enhanced Safety And Efficiency
• North America was the largest region in the peripheral IV catheters market in 2023
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