Global Intravenous Access Devices Market, By Product Type (IV Catheters, IV Infusion Pumps, and IV Needles), Catheter (Midline Peripheral Catheters, Peripherally Inserted Central Catheters, Centrally Inserted Central Catheters, and Others), End User (Hospitals and Clinics and Ambulatory Surgery Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 39,834.8 million in 2019 and is expected to exhibit a CAGR of 6.7% over the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
Intravenous access devices are used to perform diagnostic tests, blood sampling, blood transfusion, reading central venous pressure and fluid infusion.
The intravenous access devices market is expected to witness high growth rate over the forecast period, owing to an increase in the prevalence of lifestyle disease such as diabetes. For instance, according to statistics published by the Centers for Disease Control and Prevention in 2016, more than 29 million Americans have diabetes, and 86 million have pre-diabetes.
Moreover, according to World Health Organization (WHO), around 18.1 million cancer cases and 9.6 million deaths were registered globally in 2018. The increasing cancer burden is due to several factors, including population growth and geriatric population, as well as the changing prevalence of certain causes of cancer linked to social and economic development.
Also, the intravenous access devices are used for administrating all drugs such as antipyretics, antibiotics, and analgesics, which is expected to drive demand for intravenous access devices in developed and emerging regions during the forecast period, as the drug can be directly inserted into the body through veins without any contamination. Also, intravenous access devices can be used for longer periods of time for frequent intake of drugs.
Browse 26 Market Data Tables and 27 Figures spread through 151 Pages and in-depth TOC on "Global Intravenous Access Devices Market, By Product Type (IV Catheters, IV Infusion Pumps, and IV Needles), Catheters (Midline Peripheral Catheters, Peripherally Inserted Central Catheters, Centrally Inserted Central Catheters, and Others), End User (Hospitals and Clinics and Ambulatory Surgery Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027"
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https://www.coherentmarketinsights.com/market-insight/intravenous-access-devices--market-567
Intravenous access devices are used to perform diagnostic testing, blood sampling, blood transfusion, reading central venous pressure, and fluid infusion. Intravenous access device market growth is attributed to rapidly aging population. According to the National Institute on Aging, in 2010, it was estimated that 524 million people were in the age group of 65 or older, which is 8% of the world's population, and by 2050 the number is expected to nearly triple to 1.5 billion, representing 16% of the world's population.
Key Takeaways of the Global Intravenous Access Devices Market:
- The global intravenous access devices market expected to exhibit a CAGR of 6.7% over the forecast period (2019–2027) owing to increasing disease incidence.
- Among product type, the IV catheters segment is expected to account for a major revenue share by 2027. An IV catheter is a device used to draw blood and administer treatments including intravenous fluids, drugs, or blood transfusions.
- Major 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.
