Disposable IV Therapy Products Market Growth & Trends [2031]

Report Description

The global disposable IV therapy products market size was USD XX Bn in 2022 and is likely to reach USD XX Bn by 2031, expanding at a CAGR of XX% during 2023–2031. The market growth is attributed to the rising prevalence of chronic diseases, obesity disorders, and the surging geriatric population across the globe.

Increasing needlestick injuries and injections are expected to favor the high adoption of IV equipment, which boosts the market. An intravenous infusion pump delivers fluids such as medications and nutrients into the patient’s body. These pumps can be used in clinical settings such as nursing homes, clinics, hospitals, and in-home care. Several companies in the market are developing innovative infusion devices by combining them with alarm devices, monitoring devices, and data exchange systems. This, as a result, boosts their adoption across healthcare establishments. For instance,

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• On November 21, 2022, Medtronic Plc, a healthcare technology firm, launched in the US, the first infusion set across the globe for insulin pumps that doubles wear time up to seven days. This set is tubing that provides insulin from the insulin pump to the patient’s body and usually needs a set of changes every two to three days.

Disposable intravenous (IV) therapy products are medical devices and supplies that are designed for single use and then discarded after each use. IV therapy involves administering medications, fluids, and blood products directly into a bloodstream of a patient through a vein. These products are commonly used in hospitals, clinics, and other medical settings to deliver required treatments for patients who cannot take oral medications. Some common examples of disposable IV therapy products include IV catheters, IV infusion sets, IV bags, IV tubing, IV syringes, and others.

The market report finds that the COVID-19 pandemic hampered the disposable IV therapy products market, owing to the lockdown imposed by governments across the globe. This led to a sudden halt in surgical procedures, which were postponed to accommodate the increasing patient load during the pandemic. However, the demand for intravenous equipment has grown substantially, owing to the increasing usage of intravenous therapies for treating COVID-19 patients.

During the pandemic, several manufacturers took steps toward developing innovative disposable IV products to meet the different needs of COVID-19 patients. In addition, the growing adoption of telemedicine and remote patient monitoring solutions resulted in the increasing usage of home infusion therapy. The COVID-19 pandemic augmented the demand for IV equipment, which in turn supported the growth of the disposable IV therapy products market.

Disposable IV Therapy Products Market Dynamics

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Major Drivers

Increasing number of chronic disease patients is expected to boost the market during the forecast period. For example, diabetes is the leading cause of lower-limb amputations, kidney failure, and new cases of lessened vision among adults. Moreover, the consumption of alcohol and cigarette smoking remains the leading cause of preventable diseases in the US. All this together is causing the prevalence of severe chronic diseases, which boosts the demand for disposable IV therapy products. For instance,

• According to the Centers for Disease Control and Prevention (CDC), approximately 12 of every 100 US adults (18 years or older) were active smokers in 2021. According to this ratio, it was estimated that 28.3 million adults are smokers in the US and more than 16 million US citizens live with a smoking-related disease.

Existing Restraints

High cost of intravenous (IV) equipment is likely to limit its acceptability in healthcare establishments with limited budgets, which is expected to hamper the disposable IV therapy products market in the coming years. Profits gained by healthcare providers from IV therapies can be limited, owing to the high cost of IV equipment, which limits willingness of healthcare providers to expand services. In addition, increased regulatory scrutiny by various governments globally and rising litigation costs are also likely to restrain the market during the forecast period.

Emerging Opportunities

Increasing technological advancements in IV equipment are anticipated to create lucrative opportunities for the market players during the forecast period. Some of the recent technological advancements include needle-free ports, smart pumps, portable IV devices, wireless & remote monitoring, nanotechnology, and others. These advancements have the potential to improve the effectiveness, safety, and efficiency of IV therapy. These factors are likely to create lucrative opportunities for the market player in the coming years.

Scope of Disposable IV Therapy Products Market Report

The market report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.

Disposable IV Therapy Products Market Segment Insights

Product Type Segment Analysis

Based on product type, the disposable IV therapy products market is divided into IV catheters, infusion sets, IV cannulas, stopcocks & check valves, needleless connectors, and others. The IV catheters segment is expected to expand at a significant pace during the forecast period, as it reduces the risk of exposure to the patient blood and accidental punctures. IV catheters are also known as IV cannulas. Catheters are flexible tubes inserted into a vein of the patient to facilitate the administration of fluids, medications, and blood products.

The infusion sets segment is anticipated to hold a key share of the market in the coming years. IV infusion sets are sterile devices that safely deliver medication and fluids to the patient and ongoing venipuncture access for blood sampling, which drives the segment. It includes tubing, a flow regulator, and a connector that allows healthcare providers to deliver fluids and medications from the IV bag or container to the vein of the patient.

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End-user Segment Analysis

On the basis of end-user, the global market is segregated into hospitals, clinics, and home care settings. The hospitals segment is projected to register a considerable CAGR during the forecast period, owing to the increasing use of advanced equipment and medical devices.

Hospitals typically have a high volume of patients as compared to other healthcare settings such as clinics. Modern hospitals have numerous departments and units that are equipped to manage IV treatments, including intensive care units, general wards, emergency departments, and operating rooms, which is driving the growth of the segment.

Regional Analysis

In terms of region, the global disposable IV therapy products market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the forecast period, due to the growing adoption of various products for improved patient care and safety.

There is a growing focus on infection control across healthcare establishments in the region, owing to concerns about hospital-acquired infections. Additionally, companies in the market are focusing on introducing innovative disposable medical products, which are expected to boost the market in the region.

The market in Europe is anticipated to expand at a rapid pace in the coming years, owing to the robust healthcare infrastructure with a well-established network of clinics, hospitals, and healthcare facilities. Emerging countries in Europe, such as Germany, have high-quality healthcare services and advanced technology, which propels the demand for disposable medical products, such as IV therapy products, in the region. The regional market growth is further attributed to the strict regulations related to preventing infection & patient safety, technological advancements, and emphasis on research & development.

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