The Global Peripheral Intravenous Catheters Market is anticipated to develop significantly during the next ten years, according reputable market evaluations. According to current estimates, the market value will be a significant US$ 5.7 billion in 2022, and by 2032, it is expected to climb to an astounding US$ 11.03 billion. This indicates the market’s stability and substantial growth potential, translating into a promising Compound Annual Growth Rate (CAGR) of 7.2% from 2022 to 2032.
The important role peripheral IV catheters play in contemporary healthcare is highlighted by this pattern of constant increase. These vital medical devices offer a secure and effective way to put drugs, fluids, and other treatments straight into the bloodstream of a patient.
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Market Overview:
The rise in infections and epidemics, catheter demand is expected to rise in hospitals, clinics, ambulatory surgery centers, home health units, and other healthcare facilities. The healthcare business is expected to grow due to consumer spending increases and the continuous enhancement of the healthcare infrastructure.
The market will be driven by particularly strong sales effects from PIVC technological advancements. Peripheral intravenous catheter (PIVC) sales will be supported as long as it is adopted as the preferred alternative over other catheter types due to its superiority over rivals.
Furthermore, there has been a surge in the development of peripheral intravenous catheters that are easy to use and do not cause irritation. Furthermore, in order to eliminate the associated problems, manufacturers are working to enhance PIVC design. the nations in development.
Key Takeaways: Global Peripheral Intravenous Catheters Market By 2022 to 2032
Peripheral Intravenous Catheters 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.
Peripheral Intravenous Catheters 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.
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.
Methodology Details:
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Peripheral Intravenous Catheters 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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