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  

IV Equipment Market size was valued at USD 15.12 billion by 2023 and is poised to grow at a significant CAGR of 6.8% from 2024-2030. 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.

IV Equipment Market Key Developments:

• 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.