September 19, 2022 06:50 ET | Source: FACT.MR FACT.MR
Dublin, Sept. 19, 2022 (GLOBE NEWSWIRE) -- The global sales of intravenous equipment is currently valued at US$ 12.3 billion and is predicted to reach US$ 16.1 billion by 2027, says Fact.MR, a market research and competitive intelligence provider.
Using intravenous equipment, nutrients or pharmaceuticals, such as insulin or hormones, chemotherapeutic medicines, antibiotics, and painkillers, can be administered directly into a vein. It is not necessary to use a new needle for each treatment once the IV cannula has been placed into the vein. The nurse or medical professional can then immediately administer medications, fluids, or blood into the bloodstream.
Based on product, the market is segmented into IV catheters, securement devices, administration sets, infusion sets, drip chambers, and others. IV catheters are highly demanded due to them being able to reduce complications during the medical procedure. Peripheral IVs, central venous catheters, and midline catheters are the three primary subcategories of IV catheters. Several IVCs are utilised daily in hospitals depending on catheter type, and each catheter has a different use.
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One of the main factors driving the demand for intravenous equipment globally is the rising importance of intravenous (IV) therapy. IV therapy is frequently administered to both surgical and non-surgical patients and is a crucial part of the treatment of many disorders. Another important reason propelling the expansion of the global intravenous equipment market is the rising prevalence of chronic diseases across the world. Cancer, heart disease, lung disease, kidney disease, and diabetes are examples of the most prevalent chronic diseases. Furthermore, the development of healthcare infrastructure in underdeveloped nations has opened up attractive potential opportunities for intravenous equipment suppliers.
High Use of Intravenous Equipment in Treatment of Several Serious Diseases”
It is predicted that the need for surgical treatments will increase steadily due to an ageing population with chronic conditions. One of the greatest options for such disorders is IV therapy equipment, which could be advantageous for suppliers of intravenous equipment.
Numerous drugs, including those for rheumatoid arthritis, osteoporosis, Crohn's disease, systemic lupus, psoriasis, multiple sclerosis, and gout, are administered via IV treatment.
Growing prevalence of chronic diseases, the increasing number of surgeries performed globally, the growing amount of intravenous (IV) drug approvals, and the growing technological advancements in intravenous devices are all contributing factors to the growth of the IV equipment market.
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Intravenous Equipment Industry Research Segmentation
Becton, Dickinson and Company, Terumo Medical Corporation, B. Braun Holding Gmbh & Co. Kg, Teleflex Medical Inc., and Medtronic Inc. are notable suppliers of intravenous systems.
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The market's major players are concentrating on integrating IV equipment such as IV infusion pumps with EHR technology.
Manufacturers of intravenous equipment are concentrating on leading economies to expand their market presence globally in light of the rapid growth in the healthcare sector.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global intravenous equipment market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.
The study divulges essential insights on the market on the basis of product (IV catheters, securement devices, administration sets, infusion sets, drip chambers, others) and end user (hospitals, clinics, ambulatory care centers, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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Intravenous Transportation System Market: The Intravenous Transportation System market is driving with the increase in the aging population and rising chronic diseases which is one of the major factor driving the Intravenous Transportation System market. Also rising technology advancements decreasing the maneuverability issues are increasing the market for Intravenous Transportation System.
Intravenous Solutions Market: According to the latest research by Fact.MR, the intravenous solutions market is set to witness considerable growth during 2021-2031. The outbreak of pandemic and emergence of new strains is augmenting the demand for intravenous solutions. Thus, the market is projected to experience profitable growth around the globe during the forecast period at a rapid pace.
Intravenous Packaging Market: The intravenous packaging market is set to witness a CAGR of 4.0% during 2021-2031. Intravenous devices are medical equipment’s that aid in the diagnosis, prevention, and treatment of a variety of illnesses, including cancer, ocular ailments, ostomies, and respiratory illnesses. Antibiotics, antipyretics, and analgesics are among the medications and fluids delivered by these devices.
Pressure Infusion Cuffs Market: The global market for pressure infusion cuffs is extremely fragmented with the presence of numerous players. The competition from manufacturers based in China is driving the price downwards owing to the availability of low-cost labor. The North America pressure infusion cuffs market is expected to generate sluggish growth owing to saturation with the US leading the market. The Europe market is led by Germany, France, and the UK and is expected to be the third-largest market.
Tracheobronchial Suction Catheters Market: Tracheobronchial suction catheters is an innovative medical device used for those patient which are suffering from respiration related problem in which the tracheobronchial include the trachea and bronchi. The blockage of the airway is cleared by using tracheobronchial suction catheters in which the pus, mucus, and other blocker agent are removed completely by suction method, which provides a clear way in the airway for better health. The technology development in tracheobronchial suction catheters which can cause no damage to organs while the suction process takes place is also one of the driving factors for the tracheobronchial suction catheter market.
Therapeutic Catheters Market: According to a study by the American College of Cardiology, approximately 800,000 deaths due to cardiovascular diseases are reported in the U.S., which indicates an increase in the use of pulmonary artery catheters. The growing geriatric population and increase in prevalence of cardiac diseases are factors expected to drive the growth of the cardiac therapeutic catheters market. Moreover, advancement in technology is also projected to fuel the growth of the cardiac therapeutic catheters market.
Pleural Catheters Market: The global pleural catheters market was worth $22.6 million in 2018 and is expected to grow at a healthy CAGR of 6.4% between 2019 and 2029. North America holds a noteworthy market share in the Pleural catheters market with 39% of total revenue and is expected to grow at a CAGR of 7.3% during the forecast period. Growing incidence of chronic respiratory diseases, rising elderly population, increase accessibility to healthcare facilities and rising demand by clinicians are the factors expected to contribute to the dominance of North America in the pleural catheters market.
Surgical Catheters Market: The increasing geriatric population and rising incidences of diabetes, renal failure, and cardiovascular diseases are driving the growth of the global surgical catheters market. The advancements in the medical field have considerably shifted patient preference from traditional methods to minimally invasive surgeries.
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