A recent report published by Infinium Global Research on the peripheral intravenous catheters market provides in-depth analysis of segments and sub-segments in the global as well as regional peripheral intravenous catheters market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional peripheral intravenous catheters 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 peripheral intravenous catheters market. According to the report, the global peripheral intravenous catheters market is projected to reach up to USD 6.90 Billion by 2027 from USD 4.48 Billion in 2020, growing with a CAGR of 6.6% over the forecast period of 2021-2027.
Peripheral intravenous catheters (PIVC) are a type of vascular access device. PIVCs are used for patients to provide medication and nutrition for a longer period of time. PIVCs are placed into the peripheral vein, from where medication can be administered directly into the circulation. Medical professionals generally use PIVC to administer medication for chronic infections, and disorders, such as cancer or cardiac problems. PIVCs are also used to withdraw blood samples for tests and to provide fluids, nutrients, and blood. Moreover, different types of PIVCs are available in the market including integrated/closed PIVCs, and peripherally inserted catheters. The market players are offering differentiated PIVC products with different technologies to consolidate their market position.
The outbreak of the COVID-19 pandemic had a comparatively positive impact on the central venous catheter market. The demand for PIVCs increased exponentially during the period of the pandemic. PIVCs were used to treat the COVID-19 patients across many hospitals. Moreover, COVID-19 turned out to be fatal for patients with chronic disorders such as cancers, heart disorders, diabetes, and others. Thus, the patients with pre-existing chronic disorders were taken extra care of over the period of pandemics. This, in turn, increased the growth of the market over the period. Furthermore, the regulatory bodies controlling the production and manufacturing of medical supplies eased down certain restrictions to facilitate the supply of products required to combat the pandemic. Relaxation of restrictions to produce, and distribute medical supplies helped market players to increase the sale of PIVCs during the pandemic.
The rise in prevalence of chronic health conditions such as cardiac diseases, cancers, and cystic fibrosis is majorly driving the market growth. The PIVC is widely used for the diagnosis and treatment of various chronic disorders. Moreover, the growth in the elderly population in many developed countries is further augmenting the growth of the market. Old-age people require more attention and care while operating certain surgical procedures. They are more vulnerable to chronic diseases, which require special treatment that involve the use of PIVC. In addition, the growing demand for antimicrobial-coated catheters is anticipated to augment the market growth. However, the difficulties related to PIVCs are majorly hampering the market growth. Several complications including vein damage, injury, bleeding, and hematoma occurs during PIVC placement. In addition, R&D activities to develop innovative PIVC products are anticipated to offer growth opportunities to the market players.
In terms of region, the global peripheral intravenous catheters market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The North American region generated the largest revenue in the global peripheral intravenous catheters market in 2020. Domination of North America in the market was majorly driven by the greater prevalence of cancer, and heart disorders in the region. Moreover, the rapidly growing geriatric population in North America is further propelling the growth of the central venous catheter market in the region. On the other hand, the Asia Pacific central venous catheter market is anticipated to grow at the fastest rate among the regions. The higher demand for PIVCs from a large pool of patients in the Asia Pacific is primarily driving the growth of the market in the region. In addition, the growing healthcare sector and increasing expenditure on healthcare in augmenting the demand for PIVCs in the Asia Pacific.
The report on global peripheral intravenous catheters market covers segments such as product type, technology, and end user. On the basis of product type, the sub-markets include integrated/closed catheters, and peripheral insertion catheters. On the basis of technology, the sub-markets include conventional PIVC, and safety PIVC. On the basis of end user, the sub-markets include hospitals, ambulatory surgical centers, clinics, and others.
The report provides profiles of the companies in the market such as Argon Medical Devices, Inc., B. Braun Melsungen AG, Becton, Dickinson and Company, Cook Group Inc, C. R. Bard, Inc., Teleflex Incorporated, Terumo Corporation, Smiths Medical, Inc., ICU Medical, Inc., and Vygon SA.
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 peripheral intravenous catheters 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.