Peripheral IV Catheter Market to total US$ 1,865.4 Million by 2034, Expanding at a 5.8% CAGR- Fact.MR Study

The global peripheral IV catheter market is valued at approximately US$ 1,058.6 million in 2024 and is expected to grow at a CAGR of 5.8%, reaching US$ 1,865.4 million by 2034.

The growing focus on early diagnosis is driving the increased adoption of peripheral IV catheters within the healthcare industry. While North America currently commands a substantial share of the market, expanding healthcare infrastructure and rising investments in East Asia are anticipated to create significant growth opportunities in that region.

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Key Trends Driving Growth in the Peripheral IV Catheter Market

"Rising Demand for Integrated and Closed Catheters"

The use of closed catheters, which facilitate the administration of contrast media during CT scans, is gaining traction. Investments in these catheters are growing due to their ability to reduce healthcare workers' exposure to patients' blood and enable safer blood sample collection. Integrated catheters help prevent backflow at the cannula tip, minimizing the risk of blockages and reducing the need for multiple insertions.

"Advancements in Peripheral IV Catheter Technology"

Manufacturers are prioritizing the development of innovative monitoring devices aimed at enhancing patient comfort and safety. Continuous investment in research and development supports the launch of new medical devices that reduce errors and improve patient outcomes. Furthermore, the rise in needlestick injuries has driven demand for safer catheter designs, boosting the adoption of peripheral IV catheters globally.

Region-wise Insights

North America is projected to hold a dominant market share of 73.1% in 2024, with the regional market valued at approximately US$ 773 million. It is expected to grow at a CAGR of 4.3% through 2034, reaching a total revenue of US$ 1,178 million by the end of the period.

In East Asia, the market is forecasted to capture a 5.8% share in 2024, with a valuation of around US$ 62 million. The region is anticipated to experience robust growth at a CAGR of 12%, expanding the market size to US$ 192 million by 2034.

Segment-wise Insights

The hospital segment is expected to dominate the peripheral IV catheter market with a 72% share. Valued at approximately US$ 762.1 million in 2024, this segment is projected to grow at a CAGR of 6.4%, reaching sales of US$ 1,411.1 million by 2034.

Key factors driving this growth include increasing hospital admissions, availability of skilled healthcare professionals, and a rise in needlestick injuries. Additionally, healthcare providers are increasingly adopting drug delivery systems like peripheral IV catheters that improve patient comfort while minimizing associated risks. These trends are expected to further strengthen the hospital segment's market share.

Competitive Landscape

Leading companies in the peripheral IV catheter market include Becton, Dickinson and Company, B. Braun Melsungen AG, Smiths Group plc., Terumo Corporation, Venner Medical, Vygon, Teleflex Incorporated, C. R. Bard, Inc., NIPRO Medical Corporation, and Argon Medical Devices, Inc.

The market is highly competitive, featuring both global and regional players. Small and mid-sized companies are focusing on expanding their market presence through investments in technological innovation. Key strategies employed by these players include new product launches, collaborations, partnerships, mergers, and acquisitions-both organic and inorganic.

Recent Developments in the Peripheral IV Catheter Market

In September 2022, B. Braun Medical Inc. acquired several products from Starboard Medical, which are used to secure the peripheral catheter Clik-FIX.
In March 2022, Shockwave Medical Inc. announced that its Shockwave M5+ peripheral IVL catheter, which has received CE Mark and FDA approval, will be commercially available worldwide.
In July 2022, B. Braun Medical Inc. introduced the Introcan Safety 2 IV Catheter featuring single-use blood control, a cutting-edge innovation aimed at enhancing clinician safety by minimizing blood exposure and reducing needlestick injuries.

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Segmentation of Peripheral IV Catheter Market Research

By Product Type:
Power Injected PICC
Conventional PICC
By Design Type:
Single Lumen
Double Lumen
Multiple Lumen
By End User:
Hospitals
Ambulatory Surgical Centers
Catheterization Labs
By Region:
North America
Europe
Latin America
East Asia
South Asia and Oceania
Middle East and Africa

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