WELLESLEY, Mass., July 31, 2017 (GLOBE NEWSWIRE) --
With a steady increase in surgical procedure volumes and the growing shift to home care settings, the global intravenous (IV) therapy and vein access market is poised to reach $29 billion by 2021. In a recent report by BCC Research, industry drivers and challenges are studied for IV therapy products and vein access devices.
IV therapy is important for fluid volume and electrolyte replacement, critical nutrition, and delivery of medications. Its application areas include pain management, cancer, pulmonary hypertension, Parkinson’s disease, infections, gastrointestinal disorders, hemophilia, and immune deficiencies. Uses for IV therapy products include blood sampling, venous pressure monitoring, and blood transfusion. Ensuring safety and sterility, new drugs with complex handling protocols and stability issues, and increasingly specialized infusion protocols are keeping IV therapy and vein access a complex and challenging area, according to the report Intravenous (IV) Therapy and Vein Access: Global Markets.
Challenges for participants in the IV therapy and vein access devices market include price-conscious end users, consolidation among customers as well as suppliers, intensified competition, and declining reimbursement rates.
Research Highlights
- One driver is the move toward wireless, integrated communication that enables interoperability among medical devices, healthcare applications, and electronic medical record (EMR) platforms.
- The market is growing due to aging populations and the rise in cases of chronic conditions and lifestyle diseases.
- Infusion pumps are estimated to account for 49% of the IV therapy and vein access market and IV solutions and sets for another 41%.
Improving Safety, Processes Is Paramount
Helping caregivers achieve 100% drug library compliance, minimize medication errors, and reduce alarms and alerts constitutes a key focus area. “IV-EMR interoperability permits infusion pumps to be automatically programmed with pharmacy-validated medication orders from the EMR, and infusion therapy data from the pump to be automatically documented in the EMR, resulting in significant improvement in patient safety and efficiency of IV therapy,” says BCC Research analyst Shalini S. Dewan.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.