Discover the Growth of the IV Filters Market
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Usage of I.V. filters has increased rapidly over the last decade due to increased incidences of infections and phlebitis through intravenous medications and solutions. Increasing pressure to minimize the rate of infections worldwide is likely to drive the market for global I.V. filters during the forecast period. It is observed that more than 96% of patients administered with IV therapy have the problem of phlebitis. Phlebitis causes redness, swelling, induration, inflammation, and pain at the site of insertion of the IV line. As these filters are widely used in I.V. therapy, chemotherapy, antibiotic therapy, and administration of nutritional supplements, the growing number of patients undergoing these treatment therapies is likely to boost the demand for I.V. filters in the near future.
Newborn babies are more susceptible to infections through administration of total parenteral nutrition and lipid infusates, therefore use of lipid filters is highly recommended in neonate patients. Increasing awareness about potential risks of IV infections through infection control programs, and new initiatives taken by hospitals and governments to minimize infection rates is likely to contribute to the growth of I.V. filters. On the flip side, high cost and under rated importance of I.V. filters in developing and underdeveloped countries would be the restraining factor for the global I.V. filters market during the forecast period.
The global I.V. filters market is broadly segmented into five categories, based on type of filters, product, size, end-user, and region. There are two types of filters available: In-line filters and add-on filters. In-line filters are the integral part of infusion sets whereas add-on filters are separately available as a single unit. The market for in-line filters is projected to account for the dominant share till the end of 2025. By product, IV filters are segmented into bacterial & endotoxin filters and lipid & TPN filters. The bacterial & endotoxin filters segment dominated the market and is likely to continue its position till end of 2025. By size of I.V. filters, these are further sub-segmented into 1.2 µm, 0.45µm, 0.22µm, and 5µm. End-users of I.V. filters includes hospitals, ambulatory surgical centers, and others such as nursing homes and long term care centers.
In terms of geography, the global I.V. filters market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the market in 2016 and is likely to maintain its position till the end of 2025. Followed by North America, Europe is the second leading contributor to the global I.V. filters market. High healthcare expenditure and increased adoption of infection prevention practices in these regions are expected to be the key drivers of the I.V. filters market during the forecast period. Asia Pacific is projected to witness highest growth rate from 2017-2025 owing to healthcare reforms in developing countries, growing number of middle income group people with increased healthcare expenditure, and initiatives taken to prevent infection related complications.
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The market in Latin America and Middle East & Africa is likely to grow at steady growth rates during the forecast period.
The key players operating in the global I.V. filters market includes Pall Corporation, Smiths Group plc., B. Braun Melsungen AG, Vygon SA, CODAN MedizinischeGeräte GmbH & Co. KG, Obex Medical Limited, and MPS Medical, Inc.
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