IV DRESSING MARKET ANALYSIS

The Global IV dressings Market is estimated to be valued at US$ 794.7 million in 2023 and is expected to exhibit a CAGR of 5.3% during the forecast period (2023-2030).

Analysts’ Views on Global IV Dressings Market:

I.V. dressing is basically a transparent dressing used to protect I.V. sites or catheters from the insertion point and can also be used as secondary dressings. I.V. dressings allow the excess moisture while maintaining a moist wound healing environment, which is necessary for wound healing and helps block germs and keep the catheter site dry and clean. The increasing incidence of blood infections and the number of surgeries are expected to increase the demand for IV dressings across the globe. Thus, it offers the opportunity for various market players to offer new products in the market in order to strengthen its position in the market.

Figure 1. Global IV Dressings Market Share (%), By Application, 2022

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Global IV Dressings Market– Drivers

• Rising Incidence of Blood Infections: Increasing incidences of infections such as central line-associated bloodstream infection (CLABSI), catheter-related bloodstream infection (CRBSI), and other infections are expected to boost growth of the I.V. dressing market over the forecast period. For instance, according to a research study published by the National Center for Biotechnology Information in March 2022, Centralline-associated bloodstream infections (CLABSIs) continue to be one of the most common preventable healthcare-associated infections in intensive care units (ICUs) in the U.S. in 2020, with a rate of 0.87 per 1,000 centralline days.
• Increasing Number of Surgeries: An increasing number of surgical procedures is anticipated to fuel the global IV dressings market’s growth over the forecast period. For instance, according to an article published by The Journal of the American Medical Association (JAMA) in December 2021, from January 1, 2019 to January 30, 2021, a total of 1,3108,567 surgical procedures were identified based on 3,498 Current Procedural Terminology (CPT) codes. These included 5973573 procedures in 2020 (3,156,240 procedures on women [52.8]). Moreover, 482,637 interventions in children [8.1%] and 1,806,074 procedures in patients aged 65 years [30.2%]).

Figure 2. Global IV Dressings Market Share (%), By Region, 2022

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Global IV Dressings Market- Regional Analysis

Among regions, North America is expected to hold a dominant market share in the global IV dressings market owing to increasing growth strategies such as acquisitions by market players in the region. For instance, in December 2021, Essity, a hygiene and health company, announced the acquisition of Hydrofera, a manufacturer of antibacterial wound dressings. This acquisition will help Essity expand its business in the medical solution segment. Hydrofera has a strong sales channel in the U.S. and Canadian healthcare markets.

Global IV Dressings Market– Impact of Coronavirus (COVID-19) Pandemic

The worldwide pandemic caused by the novel severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) has placed enormous strain on the health care systems of the nations where it has spread widely, with specific implications for practice in the catheterization laboratory. These implications include how modifications in standard practice for cardiac patients are needed for those who are suspected to have COVID-19 and those with COVID-19. At this time, to preserve hospital bed capacity, it would seem reasonable to avoid elective procedures on patients with significant comorbidities or in whom the expected length of stay is >1 to 2 days (or anticipated to require the intensive care unit). Examples of procedures to defer include: percutaneous coronary intervention for stable ischemic heart disease; endovascular intervention for iliofemoral disease in patients with claudication; and patent foramen ovale closure. Case decisions should be individualized, taking into account the risk of COVID-19 exposure versus the risk of delay in diagnosis or therapy. In a patient with known COVID-19 and ST-segment elevation myocardial infarction (STEMI), the balance between exposure of staff to the patient and patient benefit in terms of faster diagnosis and management will need to be carefully weighed.

Fibrinolysis can be considered an option for a relatively stable patient with STEMI with active COVID-19. In patients with active COVID-19 in whom primary percutaneous coronary intervention is to be performed, appropriate personal protective equipment should be worn, including a gown, gloves, goggles (or shields), and an N95 mask, especially given the limited ability to take a history from such patients as well as the potential for clinical deterioration in those with STEMI.

Global IV Dressings Market Segmentation:

The global IV dressings market report is segmented into product type, application, end user and region.

• By product type , the market is segmented into transparent and translucent. Out of which, the transparent is expected to hold a dominant position in the global IV dressings market during the forecast period, and this is attributed to increasing product approvals and launches during the forecast period.
• By application, the market is segmented into reusable and disposable. Out of which, disposable is expected to dominate the market over the forecast period, and this is attributed to the increasing risk of infectious disease in surgical procedures.
• By end user, the market is segmented into hospitals, clinics and others (ambulatory surgical center etc.). Out of which, hospitals, is expected to dominate the market over the forecast period, and this is attributed to the rising number of hospitals and the increasing number of patients admitted per year in hospitals.

Among all the segments, the hospitals segment is expected to dominate the market over the forecast period, and this is attributed to the increasing number of patients admitted per year to hospitals.

Global IV Dressings Market- Cross Sectional Analysis:

The increasing use of disposable IV dressings during surgical procedures in hospitals is expected to boost market growth over the forecast period. For instance, in August 2022, according to the data published by the New Jersey Department of Health, 42.8% (7,398) of the 17,291 total open heart surgeries were performed in New Jersey, U.S., in 2022. In 2019-2020, the number of  bypass surgeries were 43.1% (4,094 of the 9,489) in 2019 and 42.4% (3,304 out of 7,802) in 2020 were bypass surgeries in the U.S.

Global IV Dressings Market: Key Developments

• On April 23, 2023, 3M, a multinational conglomerate company, announced that the company had received approval from the U.S. Food and Drug Administration for 3M Veraflo Therapy, with both 3M Veraflo Cleanse Choice Complete Dressing and 3M V.A.C. Veraflo is a hydromechanical removal of infectious materials, non-viable tissue, and wound debris that reduces the number of surgical debridements required while promoting granulation tissue formation and creating an environment that promotes wound healing.
• On June 5, 2023, Advanced Medical Solutions Group Plc., a surgical and advanced wound care specialist company, announced that the company had received 510(k) approval from the U.S. FDA for the Group’s LiquiBand Rapid product. LiquiBand Rapid is an addition to AMS's LiquiBand portfolio, featuring a faster drying time than comparable products and multiple uses in operating rooms and emergency rooms.
• In November 2022, KITVEN Fund, Karnataka, India’s government’s venture fund, Fibroheal Woundcare, biotechnology company manufacturing silk protein-based wound management solutions for acute, chronic, traumatic, and postoperative wounds. The investment will be used by the company to improve its delivery capabilities and scale up its manufacturing capacity in response to increased market demand.
• In September 2022, Evonik Industries AG, specialty chemicals company, signed a distribution agreement with Coopmed, a medical technology consulting and sales company, for Epicite, a hydrogel alternative for outpatients with chronic wounds. Epicite wound dressing is part of the product portfolio of JeNaCell, a Germany-based company that  Evonik Industries AG acquired in 2021.

Global IV Dressings Market: Key Trends

• Increasing Acqusition for the Novel Drug Development: Increasing adoption of inorganic growth strategies such as acquisition in order to develop novel treatment methods for bone cancer is expected to drive the growth of the global IV dressings market over the forecast period. For instance, in April 2022, GSK plc., a global pharmaceutical company, announced the acquisition of Sierra Oncology, Inc., a late-stage pharmaceutical company. GSK plc. has acquired Sierra Oncology for US$1.9 million in a bet that an experimental drug the small biotech developed is on the cusp of becoming a valuable new treatment for a type of bone marrow cancer.  

Global IV Dressings Market: Restraint

• Complications Associated with I.V. Dressing :
• Complications associated with I.V. dressing are expected to hinder growth of the global IV dressing market. These complications include nausea, swelling, discomfort, and others. The most frequently reported peripheral intravenous catheter (PIVC)-related complications include phlebitis, infiltration, obstruction, extravasation, accidental removal, and tube clogging.
• Moreover, bacterial contamination of the IV dressing is also expected to limit growth of the market. Phlebitis is one of the most common complications of peripheral IV therapy, which puts the patient at an increased risk of erythema, pain, swelling, localized infection, and catheter-related bloodstream infections. Some of these complications include nasopharyngeal discomfort, pharyngeal or esophageal perforation, intraperitoneal bleeding, peristomal leaks, and gastrocolic fistula formation.

Global IV dressings market - Key Players

Major players operating in the global IV dressings market include Becton, Dickinson and Company, Lohmann & Rauscher, Komal Health Care Pvt. Ltd., Paul Hartmann AG, DeRoyal Industries Inc., Tytex, Shandong Dermcosy Medical Co., Ltd., Smith & Nephew plc, Dynarex Corporation, Talent Healthcare, 3M and Datt Mediproducts Pvt. Limited.

*Definition: IV dressings are used to secure catheters, prevent infections, protect the health and integrity of the skin, and help heal puncture wounds. The adhesive properties of an IV dressing play a critical role in both the function of the dressing and the effect of the dressing on the patient.