PERIPHERAL INTRAVENOUS CATHETERS MARKET ANALYSIS

Global peripheral intravenous catheter market is estimated to be valued at US$ 7.4 Bn in 2023, and is expected to exhibit a CAGR of 8.3% during the forecast period (2023-2030).

Analysts’ Views on Global Peripheral Intravenous Catheter Market:

A peripheral intravenous catheter (PIVC) is a thin plastic tube that is inserted into a vein using a needle. Rising number of patient population suffering from chronic diseases such as cancer, diabetes, coronary artery disease, and others is expected to offer opportunity for various manufacturers to offer innovative peripheral intravenous catheter that allows surgeons to deliver the medicines more efficiently.

Figure 1. Global Peripheral Intravenous Catheter Market Share (%), By Product Type, 2023

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Global Peripheral Intravenous Catheter Market– Drivers

• Increasing prevalence of major diseases: Increasing incidence of major diseases such as cancer, cardiac disorders, orthopedic disorders, etc. is expected to propel growth of the global peripheral intravenous catheter market over the forecast period. For instance, in September 2022, according to an article published by  the National Center for Biotechnology Information (NCBI) Journal, the age-standardized point prevalence and annual incidence rates of orthopedic disorders and dysfunctions were 446.6 and 24.9 in 2021, indicating increase by 12.4% and 9.9% from 2010. Out of which, around 7,522 cartilage restoration procedures had been reported by the surgeons in the U.S.

Figure 2. Global Peripheral Intravenous Catheter Market Share(%), By Region, 2023

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Global Peripheral Intravenous Catheter Market- Regional Analysis

Among region, North America is estimated to hold a dominant position in the global peripheral intravenous catheter market over the forecast period. North America is estimated to hold 33.5 % of the market share in 2023. The market is expected to witness significant growth in the near future due to high prevalence of orthopedic disorders and dysfunctions, favorable health reimbursement, etc. Increasing prevalence of neurological disorders is expected to drive the peripheral intravenous catheter market growth in North America region. For instance, in March 2021, according to the American Neurological Association (ANA) neurological diseases affected around 100 billion people in the U.S. This significant number of patients with one neurological disorder is expected to increase the number of neurosurgeries in the U.S This can boost demand for peripheral intravenous catheter in the U.S.

Global Peripheral Intravenous Catheter Market– Impact of Coronavirus (COVID-19) Pandemic

• Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.
• COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others facedproblems regarding  transportation of things from one place to another.
• However, the COVID-19 pandemic had a negative impact on the global peripheral intravenous catheter market, owing to reduction in the bed and operating room capacity that led to considerable delays in urgent and semi-elective surgical interventions. According to an American College of Surgeons (ACSs) 2021 report, the nature of surgery and anesthesia practices changed during the COVID-19 pandemic, as the most elective and non-urgent cases were postponed. 

Global Peripheral Intravenous Catheter Market Segmentation:

Global peripheral intravenous catheter market is segmented into product type,  technology,  end user and  region.

• By product type , the market is segmented into short PIVC (Ported PIVC and non-ported PIVC), integrated/closed PIVC). Out of which, the short PIVC segment is expected to hold a dominant position in the global peripheral intravenous catheter market during the forecast period due to technological advancements because it is effective in delivery of IV fluids.
• By technology, the market is segmented into conventional and safety. Out of which, safety segment is expected to dominate the market over the forecast period due to increasing use of safety peripheral intravenous catheters.
• By end user, the market is segmented into hospital, clinics, and ambulatory surgical centers, homecare settings, others. Out of which,  hospital segment  is expected to dominate the market over the forecast period and as prompt treatments in hospital leads to proper recovery.
• Among all the segmentation, the technology segment is expected to dominate the market over the forecast period due to increasing preference of safety peripheral intravenous catheter by physicians.

Global Peripheral Intravenous Catheter Market- Cross Sectional Analysis

Key players are focusing on inorganic strategies such as agreements, and this is expected to drive the peripheral intravenous catheter market in North America region. For instance, on  February 23, 2023, Medsource Labs., a medical product developer and supplier, announced that the company had been awarded a group purchasing agreement for Peripheral Intravenous Catheters (PIVC) solutions with Premier's AscenDrive program, that is designed to drive the highest-level commitment and savings for members through aggregated purchasing of high-quality products and services.

Global Peripheral Intravenous Catheter Market: Key Developments

• In September 2022, Bentley, a global leader in minimally invasive medical devices for vascular treatments based in the Germany, announced that the company had acquired rights of the GoBack catheter from Upstream Peripheral Technologies, a privately held company that produces the GoBack Catheter.

Global Peripheral Intravenous Catheter Market: Key Trends

Introduction of peripheral intravenous catheter with advanced technology: Introduction of peripheral intravenous catheter with advanced technology in the market is expected to drive growth of the global peripheral intravenous catheter market over the forecast period. For instance, BD, a multinational medical technology company, announced that its peripheral IV catheters are designed with proprietary technologies and advanced features to optimize patient care and improve clinical outcomes. These are  specifically developed based on the  clinicians' and their patients' needs and requirements.

Global Peripheral Intravenous Catheter Market: Restraint

• Complications associated with peripheral intravenous catheter: Complications associated with peripheral intravenous catheter is expected to hinder the market growth over the forecast period. For instance, in January 2021, according to a report published by BioMed Central Ltd, an open access scientific publisher, the most common and important PIVC-related complication include phlebitis, which occurs with 7–44% of catheters. The occurrence of Phlebitis, unintentional removal, occlusion, thrombosis, and catheter-related blood stream infection (CRBSI) are among the PIVC-related problems that might happen (20–50%).
• Counterbalance: Key players are focusing on developing advance products with safety which is expected to drive the market growth over the forecast period.

Global Peripheral Intravenous Catheter Market - Key Players

Major players operating in the global peripheral intravenous catheter market include BD, ICU Medical, Inc., Surmodics, Inc., B. Braun SE, Greiner Bio-One International GmbH, Terumo Corporation, Vygon, Healthline Medical Products, Retractable Technologies, Inc., Nipro Medical Corporation, Medsource Labs., Argon Medical Devices., Integral Lifesciences Holdings Corporation, Intra Special Catheters GmbH, Medical Components, Inc., Merit Medical Systems., Heka s.r.l., RAUMEDIC AG, Cook, Teleflex Incorporated.

Definition: A peripheral intravenous cathether is a small, short plastic catheter that is placed through the skin into a vein, usually at  the back of the hand, elbow, or foot, but occasionally in the scalp. It is used to provide fluids and medications to patients.