The global peripheral intravenous catheters market is poised for substantial growth over the next decade, according to leading market analyses. Current estimations reveal the market’s worth at an impressive US$ 5.7 Billion in 2022, with projections pointing towards a remarkable valuation of US$ 11.03 Billion by 2032. This surge reflects a Compound Annual Growth Rate (CAGR) of 7.2% from 2022 to 2032, indicating the market’s resilience and significant potential for expansion.
The steady trajectory of the global peripheral intravenous catheters market underscores the growing demand for and essential role played by these medical devices in modern healthcare. Factors driving this exponential growth include technological advancements, an aging population, the increasing prevalence of chronic diseases, and the global need for efficient and minimally invasive medical procedures. The market’s expansion is further fueled by the continuous pursuit of enhanced patient care and medical efficacy.
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As the market continues to evolve, key players in the healthcare sector are poised to capitalize on these opportunities, innovating and delivering cutting-edge solutions that cater to the escalating demand for peripheral intravenous catheters.
The anticipated growth in the global peripheral intravenous catheters market not only signifies a significant business opportunity but also highlights the pivotal role these devices play in improving healthcare outcomes worldwide. This upward trajectory is indicative of a dynamic healthcare landscape committed to innovation and patient-centric care.
A driving factor behind the increased adoption of peripheral intravenous catheters is the prevalence of needlestick injuries among healthcare professionals. The demand for safer drug delivery devices that mitigate this risk while enhancing patient comfort has surged, contributing significantly to the market’s expansion.
Key Takeaways: Peripheral Intravenous Catheters Market By 2022 to 2032
Market Growth:
The global peripheral intravenous catheters market is expected to reach US$ 11.03 billion by 2032, growing at a CAGR of 7.2% from 2022 to 2032.
- This growth is driven by several factors, including:
- Rising prevalence of chronic diseases: Diabetes, cardiovascular disorders, and cancer are all on the rise, leading to increased demand for IV therapy and catheters.
- Aging population: As the population ages, the need for healthcare services, including IV therapy, increases.
- Focus on safety: Advancements in catheter technology, such as safety-ported catheters, are reducing needle-stick injuries and improving patient safety.
- Increasing healthcare expenditure: Rising healthcare spending globally is supporting the growth of the market.
Market Trends:
- 24G catheters are expected to be the fastest-growing segment due to their wide applicability and patient preference.
- Peripheral IV catheters dominate the market and are expected to continue doing so due to their versatility, ease of use, and cost-effectiveness.
- Safety features are becoming increasingly important, with features like antimicrobial coatings and needle-free connectors gaining traction.
- Emerging markets are expected to see significant growth in the coming years, driven by factors such as increasing healthcare access and rising disposable incomes.
Challenges and Opportunities:
- Competition in the market is intense, with a large number of manufacturers vying for market share.
- Regulatory hurdles can delay the introduction of new technologies.
- Reimbursement challenges can limit the adoption of new and expensive catheters.
Overall, the peripheral intravenous catheters market is expected to experience strong growth in the coming years, driven by a number of factors. However, there are also challenges that need to be addressed in order to ensure continued market expansion.
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Some of the leading players in peripheral intravenous catheter market, include:
- Becton, Dickinson, and Company
- B. Braun Melsungen AG
- Smiths Group plc.
- Terumo Corporation
- Venner Medical
- Vygon
- Teleflex Incorporated
- C. R. Bard, Inc.
- NIPRO Medical Corporation
- Argon Medical Devices, Inc.
Market Segmentation:
To understand and assess opportunities in the global peripheral intravenous catheter market, we have divided the report into four sections based on market segmentation as under:
By Product Type:
- Short PIVC
- Ported PIVC
- Non-ported PIVC
- Integrated/closed PIVC
By Technology:
- Conventional PIVC
- Safety PIVC
By End-user:
- Hospitals
- Ambulatory surgical centres
- Clinics
- Home use
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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