Intravenous (IV) Therapy and Vein Access Market:
Global Intravenous Therapy And Vein Access Devices Market accounted for $18,000 million in 2016, and is estimated to reach $27,971 million by 2023, growing at a CAGR of 6.4% from 2017 to 2023. The increase in the number of surgeries and utilization of intravenous therapy devices is due to high prevalence of chronic diseases worldwide.
The key factors that drive the growth of IV therapy and vein access devices market include rise in incidence & prevalence of chronic diseases, growth in road accidents, and surge in trauma cases. In addition, increase in healthcare expenditure and healthcare insurance is expected to fuel the market growth during the analysis period. However, dearth of experienced healthcare professionals restricts the market growth.
Intravenous Therapy and Vein Access Devices Market Segmentation
Based on product, the global IV therapy and vein access devices market is categorized into implantable ports, intravenous catheters, hypodermic needles, infusion pumps, and other products. The intravenous catheter segment accounted for the highest market share, and is expected to witness the highest growth rate during the forecast period. Owing to the growth of the intravenous catheter market is fueled by the rise in use of intravenous catheter during surgical procedures for IV therapies and during blood and medicine transfer and other nutrients to different parts of the body. On the basis of application, medication administration held the highest market share, owing to the high usage of IV therapy for transferring the medicines for diseases such as diabetes, cancer, and others. Based on end user, hospitals held the highest market share as large number of surgeries are performed in it as compared to ambulatory surgical centers, and clinics.
Top Investment Pocket
Geographically, the global IV therapy & vein access devices market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest share of the market in 2016, followed by Europe.
Conversely, Asia-Pacific is anticipated to grow at the highest rate regionally during the analysis period, due to increase in pool of patient population, rise in prevalence of road accidents, surge in trauma cases, and increase in government investments for the development of better healthcare facilities and R&D activities. Asia-Pacific is expected to emerge as the area with maximum growth potential due to the focus of key players in the emerging economies and improvement in healthcare infrastructure.
Mexico Intravenous Therapy and Vein Access Devices Market ($Million), 2016-2023
Increase in Geriatric Population
Decrease in fertility rate and increase in life expectancy have led to increase in geriatric population over the past few years. According to the U.S. Census Bureau report, An Aging World: 2015, currently 8.5% of world population comprises population aged 65 and over, and this percentage is predicted to increase nearly 17% by 2050. At present, Asia-Pacific leads globally in speed of aging and size of older population and would continue to lead during the forecast period.
Increase in Prevalence of Chronic Diseases
Over the past few decades, increase in prevalence of diseases and trauma cases have reached an alarming proportion. According to WHO, chronic diseases, such as diabetes, cardiovascular disorders, cancer, and chronic respiratory diseases, lead to death of 70% population globally in 2012. Intravenous therapies are useful for the treatment of diseases, such as diabetes, cancer, pain management, and others, which require timely administration of drugs and therapeutics with faster treatment. According to the National Center for Biotechnology Information (NCBI), around 285 million people were affected with diabetes worldwide in 2010, and the number is estimated to reach 439 million by 2030. Increase in prevalence of diabetes has significantly fueled the demand for intravenous therapy. The bioavailability and action of the drug administered through intravenous routes is rapid as compared to other routes such as oral, topical, and enteral. Thus, most healthcare professionals are employing infusion & injection therapies, as they are ideal for a successful prognosis. This is anticipated to boost the market growth in the future.
The major companies operating in this market have adopted product launch as their key development strategy. Companies profiled in this market include Becton, Dickinson and Company, B. Braun Melsungen AG, Terumo Medical Corporation, Teleflex Medical Inc., Medtronic Inc., Smith & Nephew plc, AngioDynamics, Inc., Pfizer Inc., Insulet Corporation, and Fresenius SE & Co. KGaA.
The other players (the profiles of these players are not covered in the report) in the value chain include, Baxter International Inc., iRadimed Corporation, BioScrip, Inc., Grifols, S.A., JW Life Science Co. Ltd., BRIEF-Sichuan Kelun Pharmaceutical Co. Ltd., CVS Health Corporation, and Vifor Pharma Group.
Key Market Benefits
- The study provides an in-depth analysis of the IV therapy and vein access devices market with current trends and future estimations to elucidate the imminent investment pockets.
- The report provides a quantitative analysis from 2016 to 2023 to enable the stakeholders capitalize on prevailing market opportunities.
- Extensive analysis by product, application, and end user helps to understand various trends and prevailing opportunities in the respective market.
- Comprehensive analysis of all geographical regions is provided, which determines the main opportunities in these geographies.
- Key market players are profiled and their strategies are analyzed thoroughly to predict the competitive outlook of the market.
Intravenous (IV) Therapy and Vein Access Market Key Segments:
- Implantable Ports
- Single Lumen Implantable Port
- Double Lumen Implantable Port
- Intravenous Catheters
- Peripheral Intravenous Catheter
- Central Intravenous Catheter
- Peripherally Inserted Central Catheter
- Hypodermic Needles
- Infusion Pumps
- Other Products
By Medical Application
- Volume Expanders
- Medication Administration
- Blood-based Products
- Nutrition &Buffer Solution
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East