According to a recent market study published by Growth Market Reports, titled, " Global IV Filter Market by types, by filter size, by age groups, by applications, by distribution channels, and by regions: Size, Share, Trends and Opportunity Analysis, 2017-2027", the market was valued at USD 230.4 Million in 2019 and is expected to grow at a growth rate of 5.5% by the year 2027.

Global IV Filter Market is anticipated to grow significantly during the forecast period. Increasing incidence of diseases and use of intravenous transfusion, Rising number of health care centers for infants, increasing incidence of malnutrition, and rising number of blood transfusion are some of the factors contributing to the market growth.

Global IV Filter market has been segmented into types, filter size, age groups, applications, distribution channels, and regions. In terms of types, the IV filter market is categorized as single use IV filter, and reusable IV filter. Based on filter size, the market is categorized as 0.2 micron, 0.22 micron, 1.2 micron, 5.0 micron. On the basis of age groups, the market is categorized as neonates, pediatrics, and adults.

Based on application, the market is categorized as treatment of pulmonary embolism and treatment of venous thrombosis. Based on distribution channel, the market is categorized as retail pharmacies, hospital pharmacies, and online pharmacies. By regions, the IV Filter market is segmented as North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.

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Increasing incidence of diseases and use of intravenous transfusion is anticipated to increase the usage of IV filters. The governments of several economies are investing to control infections such as coronavirus, ebola, cholera, and others. Rising frequency of infections led to the rise in usage of IV filters. Increasing incidences of chronic disease, rising aging population, and growing expenditure on health triggers the use of intervein transfusion. Rising demand for novel techniques and treatments, due to increasing incidence of diseases is boosting the usage of IV filters and inducing the growth of the global IV filter market.

The pandemic COVID-19 has a positive impact on blood and intravenous fluid transfusion. Currently, uncertainty in demand patterns for blood transfusion and blood transfusion institutions has restricted donations owing to public health and sickness. The blood banks and transfusion institutes are facing several difficulties in the transfusion chain from donor to collection and processing to patients.

The pandemic period introduced lockdowns and less interactions between peoples resulting in a decline of the number of donors, which in turn, has affected the blood transfusion demand. This has created shortage in the availability of blood for surgeries.

Key Takeaways from the Study

  • The single-use IV filter segment is projected to expand at a substantial pace due to growing need for blood plasma transfusion and IV solutions during COVID pandemic.
  • The IV filter market is projected to expand at substantial pace due to growing need for in-line filtration with finer 0.2 micron and 1.2 micron filters.
  • The dehydration and deficiencies examined can be recovered quickly through infusion of required IV solution. This, turn, is driving the pediatric segment of IV filter market.
  • The pulmonary embolism segment is projected to expand at substantial pace due to the requirement of blood clot removal surgeries.
  • The availability of 24x7 with all the essential or substitute medicines available, enables the hospital pharmacy to lead the segment.
  • The Specialty Centers segment was valued at USD 109.3 Million in 2019. The overall incremental opportunity between 2019 and 2027 is expected to be valued at USD 375.6 Million.
  • Hospitals segment total absolute $ opportunity is expected as USD 528.9 Million during the period of 2019 to 2027.
  • On the basis of countries, the market in North America is bifurcated into the US and Canada. The US accounts for a significant share of the market. The market in Canada is projected to expand at a considerable CAGR during the forecast period. Increasing awareness regarding drug transfer devices is expected to fuel the market in North America.
  • The market in the US is expected to expand at a significant CAGR due to the rise in implementation of safety guidelines by governments and regulatory bodies on the use of hazardous drugs. The US is expected to continue to dominate the market in the region, due to the presence of a large number of DTDs manufacturers.
  • As per the Canadian Cancer Society, in 2018, around 80,000 deaths were caused due to cancer. Moreover, as per the Centers for Disease Control and Prevention around 650,000 people received treatment for cancer. Surge in prevalence of cancer is estimated to propel the market in Canada.

Report Scope

Report Metric

Details

Market Value in 2019

USD XX Million

Market Growth Rate (from 2020 to 2027)

5.5%

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 – 2027

Market Segments

Types, Filter Size, Age Group, Application, and Distribution Channel.

Region Scope

North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.

Key Companies Profiled

Pall Corporation, BD, B. Braun Melsungen AG, Filtertek, Inc., and Weigao group.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Demand Side: Hospitals, clinics, specialty centres, among others.
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies.
  • Associations and Industry Bodies: Food and Drug Administration (FDA)/ Center for Biologics Evaluation and Research (CBER) regulatory, BPNG (British Pharmaceutical Nutrition Group), INS (Infusion Nurses Society), ASPEN (American Society for Parenteral and Enteral Nutrition), among others.