New York, USA, June 07, 2023 (GLOBE NEWSWIRE) -- IV Fluid Monitoring Devices Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “IV Fluid Monitoring Devices Market Information by Type, End User and Region - Forecast till 2032", the market projected to grow from USD 4.5 Billion in 2023 to USD 7.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.20% during the forecast period (2023 - 2032).
IV Fluid Monitoring Devices Market Trends:
Market Drivers
Home Healthcare Trend to Boost Market Growth
The opportunities for the IV fluid monitoring devices in residential settings have been made possible by the transition to remote patient monitoring and the rising desire for at-home healthcare services. These tools give medical personnel the ability to remotely check on patients' fluid levels and make prompt actions, which helps the market expand.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 7.9 Billion |
| CAGR | 7.20% |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing contamination threats is driving the market growth |
| Rising infusion therapy device usage in home care settings |
Opportunities
Increasing Hospital Admissions and Surgical Procedures to offer Robust Opportunities
Globally, hospital admissions & surgical operations have increased. During hospitalization and surgical operations, IV fluid treatment is a typical method to maintain the fluid balance & administer required drugs. The need for the IV fluid monitoring devices is growing as a result of more people entering hospitals and having surgeries.
Restraints and Challenges
Pricing Pressure to act as Market Restraint
The pricing pressure and intense competition may act as market restraints over the forecast period.
IV Fluid Monitoring Devices Market Competitive Outlooks:
Eminent market players profiled in the global IV fluid monitoring devices market report include.
- Baxter International Inc.
- BC Group International Inc.
- Becton Dickinson and Co.
- Cole Parmer Instrument Co. LLC
- Datrend Systems Inc.
- EVELABS TECHNOLOGIES Pvt. Ltd.
- Fortive Corp.
- Gossen Metrawatt GmbH
- ICU Medical Inc.
- IRadimed Corp.
- ivWatch LLC
- Micrel
- Medical Devices SA
- MONIDOR Oy Ltd.
- NETECH Corp.
- Pentland Medical Ltd.
COVID-19 Analysis
The total patients needing hospitalization has increased dramatically for the pandemic, particularly in more serious cases. The demand for the IV fluid monitoring devices may have been influenced via the rise in hospital treatment, particularly the administration of intravenous fluids. Due to the high contagiousness of COVID-19, healthcare practitioners have prioritized ongoing patient monitoring to guarantee the early identification of problems and timely management. In order to effectively manage COVID-19 patients, IV fluid monitoring devices are essential for keeping track of a patient's fluid status, the electrolyte balance, & other critical factors.
Resources for healthcare have had to be redistributed due to the pandemic, with an emphasis on managing the COVID-19 patients & controlling the virus's spread. Hospitals and healthcare institutions could have been forced to review their spending plans and investment strategies as a result, which might have an effect on the purchase of IV fluid monitoring equipment. Regulatory agencies have adopted accelerated procedures for reviewing and authorizing COVID-19-related medical device applications in reply to the pandemic. While this may have aided in the introduction of novel technologies or devices, this may also have momentarily distracted from non-COVID-19 medical products, such as IV fluid monitoring devices, and taken resources away from them.
Browse In-depth Market Research Report (128 Pages) on IV Fluid Monitoring Devices: https://www.marketresearchfuture.com/reports/iv-fluid-monitoring-devices-market-11734
IV Fluid Monitoring Devices Market Segmentation:
The global IV fluid monitoring devices market is bifurcated based on end user and type.
By end user, hospitals and clinics will lead the market over the forecast period. Many patients obtain treatment at clinics because they offer superior patient care, simple appointment rescheduling, and favorable reimbursement scenarios. Clinics are seeing more patients overall. As a result, clinics and hospitals are collaborating to provide healthcare services in hospitals.
By desktop, desktop will domineer the market over the forecast period.
IV Fluid Monitoring Devices Market Regional Analysis:
North America to Head IV Fluid Monitoring Devices Market
With a 45.80% market share in 2022, North America was the market leader. The need for medical equipment has grown as the region's population, health consciousness, & prevalence of chronic illnesses have all risen. As technology advances and designs improve, IV fluid transfer pharmaceutical devices become simpler to use, which aids in their market share growth. Additionally, the North American market was led by the U.S., which had the greatest market share, and Canada, which had the quickest rate of growth. The increased incidences of chronic diseases including diabetes, cancer, and arthritis, the expanding elderly population, the introduction of novel gadgets, and rising healthcare costs are mostly to blame for the regional market's expansion. The market for IV fluid monitoring devices is expanding in the North American area as a result of an increasing number of the product approvals as well as a growing number of local and international producers of these devices.
Due to its developed healthcare system, cutting-edge technology, and strong demand for high-quality healthcare services, North America is a sizable market for the IV fluid monitoring devices. The main contributors to the market are the United States & Canada. The rising incidence of chronic illnesses, the ageing population, and the demand for precise and effective fluid administration in the hospitals & other healthcare settings are some of the factors propelling the IV fluid monitoring devices market in North America. Additionally, technological developments like wireless connection and integration with the electronic medical records are fostering industry expansion.
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APAC to Have Admirable Growth in IV Fluid Monitoring Devices Market
From 2023 to 2032, the market in Asia Pacific will grow at the quickest rate. A significant number of prominent players are predicted to assist the market growth in the region in the course of the forecast year. The region's cutting-edge medical facilities and the broad availability of the IV Fluid Monitoring Devices are partially to blame for Asia's limited market share. Additionally, the IV Fluid Monitoring Devices market in India had the Asia-Pacific region's fastest growing market and China's IV Fluid Monitoring Devices market had the biggest market share.
A sizable market for the IV fluid monitoring devices is anticipated to exist in the Asia Pacific area because of the region's huge population and rising healthcare costs. The market will expand at a rapid rate thanks to nations like China, India, Australia, Japan, and South Korea. Ageing populations, growing chronic illness rates, increased healthcare awareness, and improvements in healthcare infrastructure are all factors driving the market in the region. Greater emphasis on patient safety as well as the use of the technologically advanced medical gadgets also increases market demand.
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