The global intravenous access devices market size is anticipated to expand at a CAGR of 5.6% during the forecast period, 2021-2028. The growth of the market is attributed to increasing number of patients suffering from tuberculosis and cancer.
Intravenous access devices are used for the administration of drugs or medications, such as antibiotics or IV drugs, for the treatment of the patient. These devices are also used for the blood transfusion and diagnostic testing. The increasing burden on the healthcare sector owing to the COVID-19 outbreak has growing the demand for such devices across the globe.
Market Drivers, Restraints, Trends, and Opportunities
- Increasing number of smokers worldwide along with rapid urbanization is spurring the market growth.
- Rising prevalence of geriatric population is driving the segment growth.
- Growing development of new vaccines and increasing use of advanced technology to design new products are expected to propel the market growth. Increasing level of disposable income is anticipated to stimulate the market growth.
- Multiple use of devices for testing blood after withdrawing it through intravenous route, for faster delivery of nutrients, fluids and drugs, such as antibiotics, analgesics, and antipyretics at the site of inflammation are positively influencing the market growth.
- Rising number of hospitalizations, as surgeries require intravenous access devices for the purpose of medication and anaesthetics, is expected to fuel the growth of the market.
- Growing healthcare expenditure along with development of improved healthcare infrastructure is anticipated to generate massive opportunities for the industry players during the forecast period.
- Ongoing technological advancements across the globe are speculated to foster the growth of the market.
- Infusion Nursing Standards of Practice reported the risk of infection which through the use of intravenous system access devices, restraining the market growth.
- Using a stopcock can result into a risk of contamination. Therefore, healthcare facilities have been advised to adhere to strict use guidelines and use needle-free connectors to reduce the risk, which is expected to hinder the growth of the intravenous system access devices market
- Increasing awareness among the physicians and patients regarding the benefits of intravenous access devices is anticipated to create various opportunities for the growth of the market.
Scope of the Report
The report global intravenous system access devices market includes an assessment of the market, trends, segments and regional markets.
|Intravenous System Access Devices Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Product Types (Catheters, Needles, and Pumps), Routes of Administration (Intravenous and Subcutaneous), Applications (Medication Administration, Administration of Fluid and Nutrition, Transfusion of Blood Products, and Diagnostic Testing), End-users (Hospitals and Clinics, Ambulatory Surgery Centers, and Others)
North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Driving Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Baxter International, Becton, Dickinson & Company, Braun Melsungen AG, CareFusion Corporation, Covidien Plc, Fresenius Medical Care Ag & Co, KGaA, Medtronic, Inc., Smiths Medical, and Teleflex
Global Intravenous System Access Devices Market Segment Insights
Subcutaneous segment to hold a considerable market share
Based on route of administration, the market is segmented into intravenous and subcutaneous. The subcutaneous segment accounted for than USD 21.9 billion in 2020 and is expected to reach USD 71 billion by 2028, expanding at a CAGR of 11% during the forecast period, 2021-2028. In subcutaneous drug delivery, the medication is injected in the subcutaneous layer, a layer between the skin and muscle, of an individual The availability of self-administrative drug delivery devices has propelled the growth of the market segment. These drug delivery devices make it possible for the patient to self-medicate themselves anywhere and anytime, in absence of professional help.
Pumps segment to account a considerable market share
On the basis of types, the market is divided into catheters, needles and pumps. The pumps segment is expected to grow at a steady rate during the forecast period. Increasing prevalence of cardiovascular diseases is driving the segment growth. On the other hand, the needles segment is expected to hold a major market share in the projected timeline.
Hospitals & clinics segment to hold a significant market share
In terms of end-users, the market is segregated into hospitals & clinics, ambulatory surgery centers, and others. The hospitals & clinics segment is expected to hold a significant market share during the forecast period owing to wide availability of advanced devices and the presence of specialized medical staff, including doctors and nurses.
The market in Asia Pacific to grow at a robust rate
Based on regions the market is categorized as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is expected to grow at a robust rate due to the increasing geriatric population along with rising prevalence of chronic diseases. Moreover, increasing occurrence of target diseases along with improving healthcare infrastructure in the region is expected to boost the regional market growth.
Segments Covered in the Report
The global intravenous system access devices market has been segmented on the basis of:
- Hospitals and clinics
- Ambulatory surgery centres
- Medication Administration
- Administration of Fluid and Nutrition
- Transfusion of Blood Products
- Diagnostic Testing
- C.R. Bard
- Fresenius Medical Care
- Smith’s Medical
- Covidien Plc
- Fresenius Medical Care AG & Co.
- Baxter International
- North America
- East Asia
- South Asia
- Southeast Asia
- Middle East
- South America
The major players of the market are Baxter International, Becton, Dickinson & Company, Braun Melsungen AG, CareFusion Corporation, Covidien Plc, Fresenius Medical Care Ag & Co, KGaA, Medtronic, Inc., Smiths Medical, and Teleflex.