INTRAVENOUS ACCESS DEVICES MARKET ANALYSIS

Intravenous Access Devices Market– Insights

Intravenous access device can be implanted under the skin which allows the medication to be delivered directly into large veins. Clotting is less likely in large veins and so intravenous access devices can be left inside for long periods. Intravenous access devices are small, flexible tubes placed in large veins for people who require frequent access to the bloodstream. These devices are often also referred to as venous access ports or catheters as they allow access to the veins without the use of deep needle stick. Intravenous access devices are usually placed in one of the large veins of the chest or neck where they can remain in place for weeks, months or longer.

The global intravenous access devices market size was valued at US$ 39,834.8 million in 2019, and is expected to witness a CAGR of 6.7% over the forecast period (2019 – 2027).

Global Intravenous Access Devices Market Share (%) Analysis, By Product Type, 2019

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Source: Coherent Market Insights Analysis (2020)

Increasing launch of new devices is expected to drive growth of the global intravenous access devices market

The intravenous access devices market is expected to witness growth over the forecast period owing to launch of new devices. For instance, in 2017, Access Scientific LLC, an infection prevention company which offers vascular access devices designed to reduce the risk of vascular device-related complications launched the new POWERWAND ED, a rapid venous access device.

Furthermore, in 2016, B. Braun Medical Inc. introduced STEADYCare Extension Set with Wedge Catheter Stabilizer to improve stabilization and reduce catheter-related complications.

Global Intravenous Access Devices Market- Restraints

Prolonged hospitalization required before the placement of the intravenous access device is, as well as the cumbersome procedure of inserting the device is expected to limit the growth of the intravenous access device market.

Global Intravenous Access Devices Market- Regional Insights

On the basis of region, the global intravenous access devices market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global intravenous access devices market owing to presence of major companies in the U.S. such as Becton, Dickinson and Company, Teleflex, Inc., o     C.R. Bard, Inc., Smiths Medical, Inc., Hospira, Inc. and Baxter International Inc.

Asia Pacific is the fastest growing region in the global intravenous access devices market owing to increasing prevalence of lifestyle disease such as diabetes. According to the World Health Organization (WHO), in 2016, around 110 million people were living with diabetes in China and this number is expected to reach 150 million in 2040 due to unhealthy habits and lack of physical activity.

Global Intravenous Access Devices Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027

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Source: Coherent Market Insights Analysis (2020)

Global Intravenous Access Devices Market- Competitive Landscape

Key players operating in the global intravenous access devices market include Becton, Dickinson And Company, Teleflex, Inc., C.R. Bard, Inc., Fresenius Medical Care, Smiths Medical, Inc., Hospira, Inc., Covidien Plc, Fresenius Medical Care AG & Co., and Baxter International Inc.