The global IV filter market was valued at USD 230.4 million in 2019 and is projected to reach USD 353.3 million by 2027, expanding at a CAGR of 5.5% during the forecast period. The market is driven by the high expenditure on healthcare industry, rising number of IV solution transfusions, and growing demand for platelets and plasma.
The IV filters are used in applications such as treatment of pulmonary embolism and treatment of venous thrombosis. Increasing number of surgeries required for treating pulmonary embolism is anticipated to boost the market.
The IV filter are used primarily for removing the impurities present in IV solution or any other injectable mediations. The impurities present in the IV solution may lead to a number of infections or may cause inflammation in the veins. Additionally, the IV filters can handle the pressure created by electronic devices and have a control on high flow rate.
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 rising number of patients affected with chronic pain and diabetes are anticipated to trigger the growth of global IV filter market, owing to the fact envisioned to deliver fluids including nutrients and medications into a patient’s body in measured amounts.
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.
The IV infusion therapy helps to recover dehydration and malnutrition. The infants cannot consume the medications orally and therefore the intravenous infusion therapy was followed. The pre-mature babies, newborn babies and infants are more vulnerable to a number of infections. The IV sets and accessories are used for transfusing the nutrients in the form of IV solution in an infant’s body, owing to the fact of minute or no infections caused by the IV filter. The factor has a positive impact on the growth of the global IV filter market.
The rising number of patients affected with chronic pain and diabetes are anticipated to trigger the growth of global IV filter market, owing to the fact envisioned to deliver fluids including nutrients and medications into a patient’s body in measured amounts. Advancements and acceptance of new technology such as filtered IV tubes and IV tubing sets with flow regulators are expected to boost the growth of global IV filter market, owing to several benefits such as improved medication, precise and accurate drug delivery and faster results.
Malnutrition is a very common problem in today’s scenario. The popularity of junk and processed food lacks in nutrition and are high on calories. Malnutrition is faced by a major population. The patients may be injected required nutrition using intravenous transfusion as it is the fastest and effective way to deliver fluids and medication to patients by healthcare providers. The required fluids to overcome and regain health can be fed using IV sets and thereby propelling the evolution in the global IV filters market.
The lack of awareness by the people about the benefits in using the IV filters especially in developed and several developing countries is hampering the growth of the global IV filters market. Moreover, the process of securing the IV filter with medicated tapes does not allow the filter to function properly. The health providers need to be skilled and trained before practicing the use of IV filter. The high manufacturing costs required to seal two hydrophobic membranes while constructing the filter, also there is a possibility of manufacturing defective filter if the hydrophobic material is not correctly sealed.
The session of chemotherapy is time consuming the IV filter sets can support home infusion settings. a variety of therapies like vitamin infusion therapy can be supported by home infusion settings. The awareness of IV filter is expected to propel the growth of market in the forecast period.
Based on types, the IV filter market is divided into single-use and reusable filter. Single-use filter are preferred over reusable filters to avoid infections and inflammation in the veins. Numerous intravenous filters are available in the market, which are designed for either antibiotic or antineoplastic therapy administration. A patient who is being treated using IV antibiotics can use two infusers per day, while a patient on continuous antineoplastic therapy might use a single device for several days at a time. Rising demand for IV filters by consumers is creating opportunities for key players in the market.
In terms of Filter sizes, the global IV filter market is segmented as 0.2 micron, 0.22 micron, 1.2 micron, 5.0 micron. The IV filter is composed of housing oleophobic air vent membrane, and fluid filtration membrane. Different membranes used for fluid filtration may attract the market. The polytetrafluoroethylene (PTFE) membrane is used in hydrophobic air vent filters and is available in pores ranging of 0.02 micron, 0.1 micron, and 0.2 micron.
Air vent filters accounts for a key share of the IV filter market, as it eliminates air while preventing the bacteria inlet, is water-resistant, and prevents any type of leakages during infusion. The hydrophobic air vent filters are widely used for lipid or alcohol based medicines (such as chemotherapeutics) drug venting making the hydrophobic air vent filters prominent in the IV filter market around the globe.
Based on age groups, the global IV filter market is segregated as neonates, pediatrics, and adults. IV filters are extensively among adults. A number of children are suffering from malnutrition. Rising in-take of processed and junk food causes several deficiencies in children. Malnutrition among children can be recovered by providing them with health supplements.
In some cases, children may not be able to consume oral medications and healthcare providers administer intravenous infusion of solution. Adults are often affected by dehydration caused by diarrhea, viral infection, or other diseases, which reduce the water content in the body. Nausea prevents the consumption of medications, water, and food, which in turn, is increasing the use of IV therapy for fast and easy recovery.
In terms of applications, the global IV filter market is bifurcated into treatment of pulmonary embolism and treatment of venous thrombosis. Pulmonary embolism affects the arteries and its treatment can entail the use of oral or intravenous infusions blood thinners.
Based on distribution channel, the IV filters market is fragmented into retail pharmacies, hospital pharmacies, and online pharmacies. The online pharmacies segment is expected to expand at a substantial CAGR during the forecast period, owing to increasing Internet penetration and rising adoption of latest technologies to order medicines, as they offer delivery of the orders to the doorstep. This, in turn, is expected to drive the online pharmacies segment.
On the basis of regions, the global IV filter market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the leading region and is expected to dominate the market during the forecast period, owing to technological advancements in the region. Europe is the second largest growing region, owing to disposable incomes and high healthcare expenditures.
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the report provides supply chain analysis along with a list of raw material suppliers, manufacturers, distributors, and customers.
According to the Growth Market Reports, the market for IV filter is likely to register a CAGR of 5.5% during forecast period 2020-2027, with an anticipated valuation of USD 353.3 million by the end of 2027.
In addition to market size (in USD Million), company market share (in % for base year 2019), volume, other data such as macro-economic factors and COVID-19 impact on the value chain are available in the final report.
The applications in the global IV filter market includes Treatment of Pulmonary Embolism and Treatment of Venous Thrombosis.
The market is driven by the high expenditure on healthcare industry, rising number of IV solution transfusions, and growing demand for platelets and plasma.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to increase around 4% between 2019 and 2020, owing to 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 base year considered for the global IV filter market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Major Manufactures are B. Braun Melsungen AG, CODAN Companies, Pall Corporation, Vygon SAS, Cobetter Filtration Equipment Co.,Ltd, Shinva Ande Healthcare Apparatus Co., Ltd, Weigao group, Zhejiang Fert Medical Device Co., ltd, Polymedicure, Angiplast Pvt Ltd, SANGAM HEALTH CARE PRODUCTS LIMITED, Ishwari Healthcare Pvt. Ltd, ICU Medical, Inc., Micron Filter Technology Co.,Ltd, GVS S.p.A., Filtertek, Inc., Borla S.p.A., Shandong Zhongbaokang Medical Implements Co., Ltd., KDL Corp, BD, JMS Co.Ltd, Baxter, Terumo Europe NV and NIPRO.
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