IV Therapy and Vein Access Devices Market Projected to Witness Vigorous Expansion By 2019

The global market for intravenous and vein access devices encompasses a variety of devices such as peripheral venous access, central venous access, ambulatory infusion, enteral feeding, syringe infusion, implantable pumps and diabetes insulin infusion devices.

These devices are used for intravenous administration of drugs, fluid infusion, blood sampling, venous pressure monitoring, blood and transfusion. Implantable ports, catheters, syringes, needles and needless connectors are examples of various intravenous therapy and vein access devices. Some of the commercially available products are Patrol Enteral Feeding Pump and Pump sets by Abbott Nutrition and OmniPod Insulin Pump by Insulet Corporation.

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The market for IV therapy and vein access devices is growing worldwide due to increasing number of surgical procedures, increasing number of trauma cases and burgeoning incidences of various diseases such as diabetes, cardiovascular diseases and trauma. Growing incidence of diabetes is predicted to drive the demand for insulin infusion pumps worldwide. World Health Organization suggests that at present approximately 347 million people are suffering from diabetes.

Increasing rate of road accidents is also one of the factors considered to be driving the market. Burgeoning aging population coupled with various devices also enhance demand for intravenous therapy and venous access devices. Advanced technologies such as minimally invasive procedures and nanotechnology are also contributing to the growth of the market.

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North America and Europe are the market leaders in this segment because of well established healthcare infrastructure in these regions and due to rising geriatric population. Asia-Pacific is expected to grow at fastest rate in coming year as a result of increasing cases of diabetes, kidney failure and other diseases enhancing the demand for these devices.

Some of the prominent players operating in this market comprise Medtronic, Inc., Teleflex, Inc., Medex International, Inc., Hospira, IRadimed Corporation, Smiths Medical, Covidien Ltd. and Insulet Corporation.

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