The IV pole market is expected to be worth US$ 256.5 million in 2024. The progress of the market is anticipated to record a CAGR of 3.5% from 2024 to 2034. The valuation of the IV pole market is forecasted to reach US$ 361.0 million by 2034.
The demand for IV poles is growing as the number of patients getting admitted to hospitals is increasing. A myriad of reasons are stimulating hospital admittance rates, including an increasing number of cancer cases and chronic conditions. Road accidents and other emergencies also drive the demand for the product, as IV poles play a critical role in emergency treatment.
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The number of new afflictions plaguing the population is increasing. As such, medical professionals are required to act quickly on their feet and administer treatment, with IV poles helping them to do so. Another factor influencing the growth of the market is the considerable geriatric population.
There are hindrances in the path of the market, however. Public hospitals are facing issues with funding, impeding their ability to buy medical equipment like IV poles. There is also hesitation about the material used in IV poles, as steel has the propensity to corrode and expose patients to more risk.
“IV poles with wheels are earning the approval of patients, while those with digital displays are helping doctors get a quick analysis of patients’ vitals. Thus, the inclination of producers is to keep the product line varied,” says an analyst at FMI.
Key Takeaways from the IV Pole Market:
- The IV pole market is expected to be valued at US$ 256.5 million in 2024.
- 4 hook top poles are most commonly used in healthcare settings. The segment is expected to account for 54.4% of the market share by product.
- Stainless steel is the material most often used in IV poles. In 2024, stainless steel is expected to contribute to 61.6% of the market share by material.
- Japan is expected to be one of the leading countries in terms of market progress. The country is forecasted to have a CAGR of 4.9% from 2024 to 2034.
- China is another Asian country with the potential for market growth. Over the forecast period, the CAGR for the market is predicted to be 4.1%.
- The market in the United States is expected to progress at a CAGR of 3.5% through 2034.
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Competition Analysis of the IV Pole Market:
The market’s nature is highly competitive, with plenty of room for small-scale players and new entrants to stand on their feet. Collaborations with public healthcare institutions are common. Some of the prominent companies in the market include 3M Healthcare, Medline Industries Inc., Cardinal Health, and Medline Industries.
Recent Developments in the IV Pole Market:
- In February 2022, Cardinal Health announced it would start using the Kinaxis RapidResponse platform.
- In November 2020, 3M and Safran Cabin finalized their terms on a partnership to boost sales of medical equipment.
Key Companies in the IV Pole Market:
- 3M Healthcare
- Medline Industries Inc.
- Cardinal Health
- Medline Industries
- Centicare Corporation
- AliMed Inc
- Mid Central Medical
- A.M.G. Medical Inc.
- Drive DeVilbiss Healthcare
Key Market Segmentation:
By Product:
- 2 Hook Top
- 4 Hook Top
- 6 Hook Top
- 8 Hook Top
By Material:
- Stainless steel
- Chrome Plated Steel
- Others
By End User:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Nursing Homes
- Long-Term Care Centers
- Homecare Settings
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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