The global intravenous access device market was valued at US$ 34,100.7 million in 2016 and is expected to witness a robust CAGR of 6.6% during the forecast period (2017-2025).
Intravenous access device can be implanted under the skin which allows the medication to be delivered directly into large veins. Large veins clot less likely and so intravenous access devices can be left inside for long periods. Intravenous access devices are small, flexible tubes placed in large veins for people who require frequent access to the bloodstream. These devices are often also referred as venous access ports or catheters as they allow access to the veins without the use of deep needle stick. Placement of intravenous access devices is usually in one of the large veins of the chest or neck where they can remain in place for long periods such as weeks, months or even longer.
Increase in prevalence of diabetes, road accidents and increase in number of surgical procedures. As per the stats published by Centers for Disease Control and Prevention in the year 2016 more than 29 million Americans are living with diabetes, and 86 million are living with pre-diabetes.
Rise in incidences of different disease is expected to fuel the growth of the intravenous access devices market in the near future.
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North America accounts for the largest share in the global intravenous access devices market, followed by Europe. This mainly attributed to rapidly aging population, increase in the incidence rate of various disease such as cancer, kidney failure, diabetes and other life style inflicted diseases are some of the major factors that are expected to drive the intravenous access market. As per the stats published by Centers for Disease Control and Prevention (CDC), in 2012, around 29.1 people were living with diabetes in the U.S. Furthermore, in 2012, 1.7 million people were newly diagnosed for diabetes in U.S.
The intravenous access devices market is expected to show high growth rate in Asia-Pacific region over the forecast period supported by increase in prevalence rate of lifestyle disease such as diabetes. According to World Health Organization (WHO), in 2016, around 110 million people were living with diabetes in China and this number is expected to reach 150 million in 2040 due to unhealthy habits and lack of physical activity.
Also, the intravenous access device are used for administrating all drugs such as antipyretics, antibiotics, and analgesics is expected to raise the demand for the intravenous access device in developed and emerging regions during forecast period, as various drugs are used to treat the patients to get cure rapidly, as the drug can be directly inserted into the body through veins without any contamination. Also, intravenous access devices can be used for longer period of time for frequent intake of drugs.
Increase in preference of intravenous access devices for diagnosis of the disease by advance technology is expected to favor the growth of intravenous access devices market
Intravenous access devices are used to perform diagnostic test, blood sampling, blood transfusion, reading central venous pressure and fluid infusion. Intravenous access device is also attributed to rapidly aging population. According to National Institute on Aging in 2010 it was estimated that 524 million people were aged 65 or older that is 8% of the world's population and by 2050, which is expected to nearly triple the number to 1.5 billion, representing 16% of the world's population. This above statistics is expected favor the growth of intravenous access devices market. Whereas latest techniques, such as ultrasound-guided catheter tip have helped to increase the efficiency of these devices.
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Some major players operating in the intravenous access devices market includes Becton, Dickinson and Company, B. Braun Melsungen AG, Teleflex, Inc., C.R. Bard, Inc., Fresenius Medical Care, Smiths Medical, Hospira, Inc., Covidien Plc, Fresenius Medical Care AG & Co., and Baxter International.
Few growth restraining factors are due to prolonged hospitalization required before the intravenous access device is inserted in the body and prolonged placement of the device is limiting the growth of intravenous access device market.
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