IV Equipment Market by Product (IV Catheters, Infusion Pumps, Stopcocks & Check Valves, Needleless Connectors, Administration Sets, Securement Devices, and Drip Chambers), End User (Hospitals & Clinics, Ambulatory Care Centers, and Home Care) - Analysis & Forecast 2019-2030
Report ID : 34 | Published Date : Feb 2019 | Pages : 150 | Region : Global | Report Code : MD-17
IV Equipment Market Overview and Introduction
The global IV Equipment market is estimated to be around US$ 10.0 Bn in 2017. It is anticipated to grow at a substantial CAGR from 2019 to 2030. The global IV equipment market is segmented by product, end user and region.
IV equipment are medical devices which are used for the purpose of IV therapy. During IV treatment, patients are administered with liquid medications or substances such as saline and others through the intravenous route. This route of administration can either be performed as injections or infusions. The intravenous route of administration is one of the fastest methods to deliver medications, as the circulation system by itself assist in transporting the same throughout the body.
The global IV equipment market is driven by increasing geriatric population coupled with growing number of surgical procedures. Increasing patient awareness and health care expenditure, rising prevalence of chronic diseases, are major factors driving the market. However, safety risks related to error of medication is likely to restrain the market to certain extent.
IV Equipment Market by Product
On the basis of product, the IV equipment market is segmented into IV catheters, infusion pumps, stopcocks & check valves, needleless connectors, administration sets, securement devices, and drip chambers and other IV equipment. The segment of securement devices is anticipated to account for the highest market share in 2018, owing to large scale adoption of peripheral IV catheter securement devices and central venous catheter securement devices for IV therapy. The incremented adoption of such securement devices can be attributed to features such as water resistivity and provision for repositioning the device upon application.
IV Equipment Market by End Users
On the basis of end user, the IV equipment market is segmented into hospitals & clinics, ambulatory care centers, and home care, and other end user. The hospitals segment is estimated to account for the largest share of the global IV equipment market. The large share of this segment can be attributed to the rising incidence of chronic disorders, improving healthcare infrastructure and favorable regulations by the governmental bodies among others.
IV Equipment Market by Regions
The global IV equipment market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market of advance wound care, followed by Europe and Asia Pacific. North America will continue to dominate the global IV equipment market in the forecast period owing to factors such as increasing number of geriatric population and highly developed healthcare system. However, Asia Pacific is expected to witness the highest CAGR, with the growth in this market centered at China, India, and Japan. Factors such as the rising focus of major players in emerging Asian countries and improving healthcare services are driving the growth of the IV equipment market in this region.
IV Equipment Market Prominent Players
The prominent players in the global IV equipment market are BD, B. Braun Melsungen AG, Baxter, Fresenius SE & Co. KGaA, ICU Medical, Inc., Smith Medical (Smiths Group plc.), TERUMO CORPORATION, MOOG INC., AngioDynamics, and Medline Industries, Inc.