A recent report published by Infinium Global Research on the intravenous system access devices market provides an in-depth analysis of segments and sub-segments in the global as well as regional intravenous system access devices market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional intravenous system access devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global intravenous system access devices market. According to the report, the global intravenous system access devices market is projected to grow at a CAGR of 7.82% over the forecast period of 2021-2027, growing from more than USD 16.8 billion in 2021 to about USD 26.5 billion in 2027.
Intravenous treatments involve the use of a wide range of medical devices. Intravenous systems are used for patients that need intravenous medication, or nutrition. Intravenous or vascular system access devices enable repeated and long-term access to the bloodstream for frequent and regular administration of drugs, or nutrition. It typically goes into a large vein in the arm or chest. Intravenous system access devices, such as peripherally inserted central catheters (PICCs) are generally used for days, weeks, or months. While, other devices, such as ports, are used for patients that require medication for years. Moreover, a wide range of intravenous system access devices is available in the market including peripherally intravenous catheters, infusion pumps, and implantable ports. The market players are offering differentiated intravenous system access devices for different applications to differentiate themselves from the competition.
The outbreak of the COVID-19 pandemic had a fairly positive impact on the intravenous system access device market. The demand for intravenous access devices increased intensely during the period of the pandemic. Intravenous access devices were used for the treatment of COVID-19 patients across many hospitals. Moreover, the COVID-19 infection turns to be fatal for patients with pre-existing health conditions such as cancers, heart disorders, diabetes, and others. Thus, patients with pre-existing diseases were provided extra care during the pandemic. This, in turn, amplified the growth of the intravenous system access device market during pandemics. Furthermore, the government bodies regulating the production and marketing of medical supplies eased down certain restrictions to boost the supply of essential products used to tackle the pandemic. Relaxation of such restrictions on the medical supplies augmented the growth of the market by propelling the sale of intravenous system access devices during the pandemic.
The increasing prevalence of chronic disorders such as cardiac diseases, cancers, and cystic fibrosis is majorly driving the growth of the market. The intravenous system access devices are widely used for diagnostic, and therapeutic purposes in several chronic health conditions. Moreover, the growing geriatric population across the world is further contributing to the growth of the market. The aging population needs more attention and care while operating certain medical procedures. Elderly people are more susceptible to chronic disorders, which require treatments that use intravenous system access devices. In addition, the growing demand for intravenous devices is anticipated to augment the growth of the intravenous system access devices market. However, the complications associated with intravenous access devices are expected to hinder the market growth. Many problems such as central vein damage, injury, bleeding, and hematoma arise during administering the intravenous access devices. Nevertheless, R&D activities to develop innovative intravenous system access device products are anticipated to offer growth opportunities to the market players.
In terms of region, the global intravenous system access devices market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The North American region accounted for the largest share in the global intravenous system access devices market. Domination of North America is mainly attributed to the higher incidence rate of chronic disorders such as cancer, and heart disease. Moreover, the growing geriatric population in North America is further augmenting the growth of the intravenous system access device market in the region. On the other hand, the Asia Pacific intravenous system access device market is anticipated to grow at the fastest rate among the regions. The large patient pool in the Asia Pacific is majorly driving the growth of the intravenous system access devices market in the region. In addition, the improving healthcare sector and growing expenditure on healthcare in augmenting the demand for intravenous system access devices in the Asia Pacific.
The report on global intravenous system access devices market covers segments such as product type, application, and end user. On the basis of product type, the sub-markets include implantable port, intravenous catheter, hypodermic needles, infusion pumps, and others. On the basis of application, the sub-markets include medication administration, fluid and nutrient administration, blood transfusion, and diagnostics. On the basis of end user, the sub-markets include hospitals, clinics, and ambulatory surgery centers.
The report provides profiles of the companies in the market such as B. Braun Melsungen AG, Becton, Dickinson and Company, Smiths Medical, Inc., Terumo Corporation, Teleflex Medical Inc., Edwards Lifesciences Corporation, Medical Components, Inc., ICU Medical Inc., Fresenius Medical Care Ag & Co KGaA, and C.R.Bard, Inc..
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of intravenous system access devices market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.