Intravenous Equipment Market Expected to Reach $26.7 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Intravenous Equipment Market," The intravenous equipment market size was valued at $15.0 billion in 2022, and is estimated to reach $26.7 billion by 2032, growing at a CAGR of 5.9% from 2023 to 2032.

Intravenous equipment refers to the tools and devices used in medical procedures where fluids, medications, or nutrients are directly delivered into a patient's bloodstream through a vein. This equipment is designed to make the process safe and efficient. The management of chronic diseases often necessitates long-term IV therapy to directly administer medications, fluids, and nutrients into the bloodstream. In addition, as the prevalence of chronic conditions like cardiovascular diseases, diabetes, cancer, and autoimmune disorders continues to rise, there is an increasing demand for IV equipment to support the delivery of these essential therapies. As a result, the intravenous equipment market trends experiences growth in response to the rising need for effective intravenous treatments.

In addition, with the increasing emphasis on home-based care and ambulatory settings, the demand for intravenous equipment in the management of chronic diseases has expanded. Numerous patients opt for receiving treatments and therapies in their homes or outpatient settings rather than staying in hospitals. Home infusion therapy, for instance, enables patients to receive intravenous medications and fluids at their residences, offering convenience, cost savings, and increased patient satisfaction. This shift toward home-based care and ambulatory settings drives the demand for portable and user-friendly intravenous equipment, such as ambulatory infusion pumps and secure IV catheters suitable for long-term use.

Further, technological advancements have played a pivotal role in driving the growth of the IV equipment market size. Innovations in catheters for intravenous, infusion pumps, and other related devices have greatly improved patient safety, comfort, and treatment outcomes. For instance, the development of safety engineered IV catheters has reduced the risk of needlestick injuries and infections. Additionally, the introduction of smart infusion systems with features such as dose error reduction software, wireless connectivity, and integration with electronic health records (EHR) has enhanced accuracy, automated data recording, and improved overall efficiency.

Furthermore, IV equipment market now incorporates improved user interfaces and designs to enhance usability and reduce the potential for errors. Clear and informative displays, easy-to-navigate menus, and intuitive programming options simplify the operation of IV devices. For instance, the Perfusor Space Syringe Pump (offered by B.Braun) features a touchscreen interface with intuitive icons and customizable settings, ensuring ease of use and efficient programming for healthcare professionals.

In addition, infusion pumps now offer advanced functionalities, such as programmable dose-rate calculations, drug concentration libraries, and automatic adjustments based on patient parameters. These features ensure accurate medication delivery and reduce the risk of errors. For instance, the SIGMA Spectrum Infusion System (Baxter International, Inc.) incorporates advanced drug libraries, drug-specific dosing limits, and integrated barcoding technology to promote safe and accurate medication administration.

Moreover, the rising number of surgical procedures worldwide has fueled the demand for intravenous equipment industry. Surgery often requires the administration of anesthesia, fluid resuscitation and post-operative pain management through intravenous therapy. The advancements in minimally invasive surgeries and the shift towards ambulatory surgical centers have increased the demand for intravenous equipment industry, including specialized catheters, infusion pumps, and IV sets.

However, factors such as risk of infections and stringent regulatory requirements are the factors which hamper the growth of intravenous equipment market. The use of intravenous equipment carries a certain degree of risk, including the potential for complications and infections. Improper insertion, handling, or maintenance of IV catheters and infusion sets can lead to catheter-related bloodstream infections (CRBSIs) or other complications such as phlebitis or infiltration, thereby restraining the market growth. On the other hand, growing aging population, increasing surgical procedures, the expansion of home healthcare, emerging markets and the demand for sustainable solutions are the factors expected to offer opportunities to the key players of the market.

On the basis of product type, the intravenous equipment market analysis is classified into IV catheters, infusion pumps, administration sets, needleless connectors, and others. The administration sets segment is further divided into solution administration sets and blood administration sets. The IV catheters segment accounted for largest share in 2022, and is expected to register highest CAGR during the forecast period owing to factors such as the high prevalence of chronic diseases requiring IV access, the increasing number of surgical procedures, and advancements in catheter technologies improving patient comfort and reducing complications.

On the basis of end user, the market is segregated into hospital and clinics, homecare settings and others. The hospitals segment accounted for largest share in terms of revenue in 2022, owing to availability & access to specialized departments and units, such as ICUs, emergency departments, surgical suites, and general wards, where intravenous therapy is extensively utilized. In addition, hospitals have the infrastructure, staff and resources to handle complex cases and advanced medical procedures that may involve specialized intravenous equipment.

On the other hand, homecare settings segment is anticipated to register highest CAGR during the intravenous equipment market forecast period, owing to factors such as patient preference for receiving medical treatments at home and the cost-effectiveness of home-based care, leading to increased adoption and investment in intravenous equipment for homecare settings.

Region wise, North America accounted for the largest intravenous equipment market share in terms of revenue in 2022, owing to its well-developed healthcare infrastructure, high disease prevalence, robust reimbursement policies, presence of key market players, technological advancements, and commitment to patient safety. In addition, region's advanced medical facilities, including hospitals, clinics, and ambulatory surgical centers, foster the demand for intravenous equipment, while the prevalence of chronic diseases and aging population contribute to the need for advanced medical treatments.

However, Asia-Pacific is anticipated to witness notable growth, owing to rapidly growing population, coupled with the increasing prevalence of chronic diseases, creates a significant demand for intravenous therapy and related equipment. The upsurge in healthcare expenditure in the emerging economies is anticipated to offer lucrative opportunities for the market expansion.

Key Findings of the Study

• By product type, the IV catheters segment accounted for largest IV equipment market share in terms of revenue in 2022, and is expected to register highest CAGR during the forecast period.
• On the basis of end user, the hospitals and clinics segment accounted for largest share in terms of revenue in 2022. On the other hand, homecare settings segment is anticipated to register highest CAGR during the forecast period.
• Region wise, North America occupied the largest share in terms of revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.