Luton, Bedfordshire, United Kingdom, Sept. 06, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Peripheral IV Catheters Market.
The Global Peripheral Intravenous (IV) Catheter market is expected to grow at 6.2% CAGR from 2022 to 2029. It is expected to reach USD 7,964.4 Million by 2029.
A peripheral intravenous (IV) catheter is a small tube that is inserted into a vein to administer medication directly into the circulation. Peripheral intravenous (IV) catheters are used to withdraw blood from veins for testing in addition to medication administration.
Peripheral IV catheters are used to withdraw fluids from blood vessels for diagnostics as well as medication administration. Advanced peripheral intravenous catheters have additional safety features to prevent needle stick injuries. Furthermore, because of their direct contact with the systemic circulation, peripheral intravenous catheters are made of non-irritant components such as synthetic material, which has no adverse effect even when left in contact with the human body's circulatory system.
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Increased healthcare spending and scientific breakthroughs in the healthcare system will boost the market size of peripheral intravenous (IV) catheters. Furthermore, the introduction of advanced PIVC technologies will increase sales even more. The growing ability to afford expensive medical treatment options such as catheterization will remain a major driver of industry growth. Technological advancements in catheterization methodology are also expected to drive the peripheral IV catheter market trend. Increasing the use of harmless, non-irritant, and user-friendly materials in PIVC manufacturing is said to eliminate associated ill effects and risks, thereby extending expected PIVC access. Furthermore, manufacturers have already begun to improve PIVC design in order to avoid the difficulties that previous designs have established. This is thought to be a significant factor influencing the PIVC market share.
Recent Developments
- Aug. 20, 2021 Argon Medical Devices, Inc., a leading manufacturer of medical devices for interventional procedures, announced the commercial launch of SKATER™ Mini-Loop Drainage Catheters in the United States and the European Union.
- In July 2021, BD (Becton, Dickinson, and Company), a global medical technology company, acquired Velano Vascular for an undisclosed amount. Through the acquisition, BD can now help health care providers eliminate multiple needlesticks for blood sample collection, reducing pain and discomfort while delivering quality outcomes and increased patient satisfaction, thanks to Velano Vascular and its innovative, needle-free technology that enables high-quality blood draws from existing peripheral intravenous catheter (PIVC) lines. Velano Vascular is a California-based medical equipment manufacturer; whose needle-free technology enables high-quality blood draws from existing PIVC lines.
Report Attribute | Details |
| Revenue forecast in 2029 | USD 7,964.4 Million |
| Growth Rate | CAGR of 6.2% from 2022 to 2029 |
| Base year for estimation | 2021 |
| Historical data | 2017-2021 |
| Forecast period | 2022 - 2029 |
| Quantitative units | Revenue in USD billion and CAGR from 2022 to 2029 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Component, display, application, region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; Japan; India; South Korea; Brazil |
| Key companies profiled | Tangent Medical Technologies, Teleflex, Smith Medical, C. R. Bard, Becton, B. Braun Melsungen, Terumo Corporation, Dickinson and Company, Vygon SA, Argon Medical Devices, Vigmed AB |
Peripheral IV Catheters Market Regional Outlook
North America Dominant’s the Market
North America is expected to witness a significant share of the global market for peripheral intravenous (IV) catheters. Major factors including the presence of large aging populations, largely sophisticated healthcare infrastructure, rising healthcare expenditure, and technological advancements leading to rising rates of medical interventions in the US and Canada are driving growth in the peripheral IV catheters market in these regions. Besides that, due to rising discretionary income, constantly improving healthcare systems, and a thriving medical tourism sector.
Asia-Pacific is the fastest growing region in the peripheral intravenous (IV) catheters market.
Peripheral IV Catheters Market Players
- Tangent Medical Technologies
- Teleflex
- Smith Medical
- C. R. Bard
- Becton
- B. Braun Melsungen
- Terumo Corporation
- Dickinson and Company
- Vygon SA
- Argon Medical Devices
- Vigmed AB
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Disease prevalence and the frequency of epidemic diseases drive demand for Peripheral IV Catheters
Increasing chronic disease occurrence and inflammation incidences will continue to drive demand for catheterization in the coming years, which will be a major factor driving the PIVC market size. The growing severity of epidemic diseases is expected to increase demand for peripheral intravenous catheters for patient treatment, diagnostic testing, and therapeutic interventions. In comparison to other catheters, PIVCs are likely to account for a sizable portion of this. Advanced catheterization methods are also expected to drive demand for peripheral intravenous catheters (PIVC) market share.
Key Market Segments: Peripheral IV Catheters Market
Peripheral IV Catheters Market by Component, 2020-2029, (USD Million)
- Safety
- Conventional
Peripheral IV Catheters Market by Display, 2020-2029, (USD Million)
- Hospitals
- ASC
- Clinics
- Home Healthcare
- Others
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Table of Content:
- Market Definition and Overview
- Research Method and Logic
- Market Competition Analysis
- Product and Service Analysis
- Strategies for Company to Deal with the Impact of COVID-19
- Market Segment by Type, Historical Data and Market Forecasts
- Market Segment by Application, Historical Data and Market Forecasts
- Market by by Region, Historical Data and Market Forecasts
- Market Dynamic Analysis and Development Suggestions
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