IV Equipment Market: By Product Type (Infusion Sets, IV Catheters, Check Valves and Stop Cocks, Needless Connectors, Securement Devices, Drip Chambers, Others), By End User (Hospitals, Clinics, Ambulatory Surgical centers, Homecare), and Geography
The global IV equipment market size expected to reach USD 14.62 billion by 2026, at a CAGR of 6.2% during the forecast period 2021 to 2027. IV equipment are the medical devices used in the intravenous therapy to deliver the liquid substances into the body through the intravenous system. The IV equipment are used to administer the injections and infusions by using the syringes and infusion pumps. These equipment must be sterile before administering into the vein. Intravenous therapy is the fastest route to deliver the medications into the body because the medication directly enter into the circulation through intravenous route. Market players are actively involved in the development of newer IV equipment which is most convenient to the patient drug administration. Moreover, the rise in prevalence of chronic diseases that require long-term treatment, the rise in a number of surgical procedures, and rise in demand for ambulatory infusion pumps owing to rise in the home care market are anticipated to fuel the IV equipment market over the forecast years. Furthermore, acquisitions and mergers, collaborations, and product launchings are the strategies adopted by the market players for generating the revenue in IV equipment market. For instance, in April 2017, ICU Medical Inc. acquired Hospira infusion systems for expanding the product portfolio including IV equipment.
In 2019, ICU Medical, Inc. acquired Pursuit Vascular, a medical devices company. Under this acquisition, the ICU Medical, Inc acquired the ClearGuard HD, a natural extension of their needle-free IV connector and other infection control technologies, which together will provide best solutions to ICU for novel needle free IV connectors development. In May 2022, BD (Becton, Dickinson and Company), a leading global medical technology company, and Mitsubishi Gas Chemical Company, Inc. (MGC), a R&D-oriented chemical manufacturer based in Tokyo, Japan, announced that they have entered into an agreement to investigate further development of OXYCAPT an innovation from MGC that integrates the best of plastic and glass for plastic syringes.
Iv Equipment Market Summary
Fastest Growing Market
Iv Equipment Market Dynamics
Increase in geriatric population, growing prevalence of chronic diseases, increase in a number of surgical procedures, various advantages of intravenous therapy, availability of fixed IV equipment such as IV cannulas for multiple drug administration are anticipated to fuel the IV equipment market over the forecast period. However, stringent regulatory policies for newer products approval, rise in the incidence of medication errors, and patient safety risks are anticipated to hamper the growth of IV equipment market over the forecast years.
Iv Equipment Market Regional Analysis
North-America Got Significant Share
Geographically, global IV equipment market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America IV equipment market expected to exhibit significant growth owing to increase in the prevalence of chronic diseases such as cancer, adoption of homecare IV equipment devices, an increase in healthcare expenditure in the region. Europe IV equipment market accounted for significant share owing to the adoption of newer IV equipment, the rise in prevalence of chronic diseases due to change in lifestyle, and advanced healthcare infrastructure in the region. Asia Pacific IV equipment market is driven by rising in medical tourism in Asia Pacific countries, the presence of a large patient pool, rise in utilization of advance IV equipment in the region. Latin America IV equipment market growing at significant rate owing to economic growth, increase in healthcare expenditure, and increase in the number of surgical procedures in the region. Middle East and Africa IV equipment market is poised to grow due to rise in adoption of technologically advanced IV equipment, and government initiations for protecting the public health middle east countries.
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Iv Equipment Market Segmentation
By Product Type
Check Valves and Stop Cocks
Ambulatory Surgical Centers
Frequently Asked Questions
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.