According to a recently published report by Future Market Insights, the global IV Therapy and Vein Access Devices market is expected to generate US$ 44.4 billion while growing at a 5.6% CAGR during the forecast period. Growing government support is expected to fuel market growth in the coming years. In 2022, the industry is expected to generate $25.8 billion USD.
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| Attributes | Details |
| Global IV Therapy and Vein Access Devices Market CAGR (2022-2032) | 5.6% |
| Global IV Therapy and Vein Access Devices Market (2032) | US$ 44.4 Billion |
| Global IV Therapy and Vein Access Devices Market Attraction | The rising number of intravenous (IV) drug approvals and increasing technological advancements in intravenous therapy (IV) and vein access are expected to drive the market in the forecast period. |
Increased healthcare spending, increased awareness of healthcare procedures, and an increase in the number of specialty clinics and ambulatory centres will all contribute to the future growth of the IV therapy and vein access devices market.
According to the research, the medical administration segment is expected to provide lucrative opportunities for the global IV therapy and vein access devices market. Various developing countries are making significant changes to their budgets, creating lucrative opportunities for market participants.
Key Takeaways from the Market Study
- Based on type, intravenous catheters are expected to record a 5.5% CAGR by 2032
- By medical application, the medical administration segment to expand at a 5.6% growth rate during the forecast period
- The U.S market to garner US$ 15.9 Billion and record a 5.4% CAGR from 2022-2032
- Market in China to procure US$ 3.2Billion, expanding at a 4.9% growth rate during the assessment period.
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Competitive Landscape
Eminent players of the global IV Therapy and Vein Access Devices Market include Becton, Dickinson and Company, B. Braun Holding Gmbh & Co. Kg, Terumo Medical Corporation, Teleflex Medical Inc., and Medtronic Inc. among others. Recent key developments among players include:
- In February 2022, BD (Becton, Dickinson and Company) announced the acquisition of Cytognos, a privately held company based in Salamanca, Spain that specialises in flow cytometry solutions for blood cancer diagnosis, minimal residual disease (MRD) detection, and immune monitoring research for blood diseases.
- Teleflex will release the Arrow® ErgoPack® Complete Multi-LumenAccessCatheter (MAC) System and the Arrow® ErgoPack® Complete Percutaneous Sheath Introducer (PSI) System in January 2021. High-flow Arrow® MAC Catheters are designed to meet the needs of a wide range of patients, from trauma to cardiac, and provide broad-spectrum antimicrobial protection against gram-positive and gram-negative bacteria and fungi, which are the primary infectious pathogens responsible for CLABSI.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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