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Discover the Growth of the IV Administration Sets Market

01-18-2018 01:57 PM CET | Health & Medicine

Press release from: Transparency Market Research

Discover the Growth of the IV Administration Sets Market

Intravenous therapy delivers liquid substances directly to the veins. Intravenous route is the fastest way to deliver medications or fluid replacement substances into the body via veins. IV administration sets are accessories required to deliver fluids to patients to treat various conditions such as dehydration, electrolyte imbalance, and other conditions requiring specialized parenteral drug therapies. The rate of delivery of liquid can be adjusted with a roller clamp of an IV administration set.

Primary IV administration set is either a macro-drip solution administration set that delivers 10, 15, 20 gtts/ml, or micro-drip set which delivers small amount of fluid over longer period of time. Micro-drip tubing’s are used primarily in neonatal or pediatric care. Components of a primary IV administration set are back check valve, access port, roller clamp, and secondary IV tubing. A secondary IV administration set does not contain access port or back check valve. It is shorter in length than a primary IV administration set.

Rise in demand for IV administration sets due to increase in number of patients hospitalized for various treatments, surge in incidence of chronic diseases, and rise in adoption of advanced treatment options are anticipated to boost the growth of the global IV administration sets market. However, increase in incidence of medication errors, product recalls, and stringent regulatory requirements are the factors restraining the market.

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The global IV administration sets market can be segmented based on product type, usage pattern, application, end-user, and region. In terms of product type, the market can be categorized into standard gravity IV administration sets and IV administration sets supported by infusion pumps. Standard gravity IV sets account for the largest market share due to self-dependence and low cost of these products. Based on usage pattern, the global IV administration sets market can be classified into primary IV administration sets and secondary IV administration sets.

The primary IV administration sets segment dominates the global IV administration sets market due to large number of applications in various therapeutic fields. In terms of application, the market can be divided into blood administration sets, veterinary administration sets, epidural administration sets, chemotherapy administration sets, and autohemotherapy administration sets. Based on end-user, the global IV administration sets market can be categorized into hospitals, clinics, ambulatory surgical centers, and home care settings.

Geographically, the global IV administration sets market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global IV administration sets market due to increase in geriatric population, rise in prevalence of chronic diseases, and developed health care facilities in this region, leading to increasing demand for IV administration sets especially in U.S. Europe is the second largest market for IV administration sets due to surge in demand for advanced health care products, rise in incidence of lifestyle diseases, and increase in geriatric population.

Asia Pacific is expected to witness the fastest growth in the global IV administration sets market owing to rise in population, increase in incidence of chronic diseases, and increasing healthcare expenditure in countries such as China, India, and other countries, which is expected to drive the demand and consumption of the IV administration sets in the Asia Pacific market during 2017-2025.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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