Intravenous Access Devices – Rise in prevalence of the diseases is anticipated to fuel the demand of intravenous access devices
Intravenous access device can be implanted under the skin which allows the medication to be delivered directly into large veins. Large veins clot less likely and so intravenous access devices can be left inside for long periods. Intravenous access devices are small, flexible tubes placed in large veins for people who require frequent access to the bloodstream. These devices are often also referred as venous access ports or catheters as they allow access to the veins without the use of deep needle stick. Placement of intravenous access devices is usually in one of the large veins of the chest or neck where they can remain in place for long periods such as weeks, months or even longer.
Increase in prevalence of diabetes, road accidents and increase in number of surgical procedures. As per the stats published by Centers for Disease Control and Prevention in the year 2016 more than 29 million Americans are living with diabetes, and 86 million are living with pre-diabetes.
The global intravenous access device market was valued at US$ 34,100.7 million in 2016 and is expected to witness a robust CAGR of 6.6% during the forecast period (2017-2025).
Rise in incidences of different disease is expected to fuel the growth of the intravenous access devices market in the near future.
North America accounts for the largest share in the global intravenous access devices market, followed by Europe. This mainly attributed to rapidly aging population, increase in the incidence rate of various disease such as cancer, kidney failure, diabetes and other life style inflicted diseases are some of the major factors that are expected to drive the intravenous access market. As per the stats published by Centers for Disease Control and Prevention (CDC), in 2012, around 29.1 people were living with diabetes in the U.S. Furthermore, in 2012, 1.7 million people were newly diagnosed for diabetes in U.S.
The intravenous access devices market is expected to show high growth rate in Asia-Pacific region over the forecast period supported by increase in prevalence rate of lifestyle disease such as diabetes. According to World Health Organization (WHO), in 2016, around 110 million people were living with diabetes in China and this number is expected to reach 150 million in 2040 due to unhealthy habits and lack of physical activity.
Also, the intravenous access device are used for administrating all drugs such as antipyretics, antibiotics, and analgesics is expected to raise the demand for the intravenous access device in developed and emerging regions during forecast period, as various drugs are used to treat the patients to get cure rapidly, as the drug can be directly inserted into the body through veins without any contamination. Also, intravenous access devices can be used for longer period of time for frequent intake of drugs.
Increase in preference of intravenous access devices for diagnosis of the disease by advance technology is expected to favor the growth of intravenous access devices market
Intravenous access devices are used to perform diagnostic test, blood sampling, blood transfusion, reading central venous pressure and fluid infusion. Intravenous access device is also attributed to rapidly aging population. According to National Institute on Aging in 2010 it was estimated that 524 million people were aged 65 or older that is 8% of the world's population and by 2050, which is expected to nearly triple the number to 1.5 billion, representing 16% of the world's population. This above statistics is expected favor the growth of intravenous access devices market. Whereas latest techniques, such as ultrasound-guided catheter tip have helped to increase the efficiency of these devices.
Some major players operating in the intravenous access devices market includes Becton, Dickinson and Company, B. Braun Melsungen AG, Teleflex, Inc., C.R. Bard, Inc., Fresenius Medical Care, Smiths Medical, Hospira, Inc., Covidien Plc, Fresenius Medical Care AG & Co., and Baxter International.
Few growth restraining factors are due to prolonged hospitalization required before the intravenous access device is inserted in the body and prolonged placement of the device is limiting the growth of intravenous access device market.
Intravenous access device are utilized by the physicians to deliver the medication to the patient’s blood stream through the intravenous route. Intravenous access device can also withdraw the blood for testing or diagnosis purpose. There are various therapies administrated by the intravenous access device which are included for the designation of specialty drugs. Intravenous access device prevent the air from entering the blood stream and allows the estimation of flow rate. Intravenous access devices are used for various purposes such as to correct the electrolyte imbalances, to deliver medications, fluid replacement or for blood transfusion whereas it can also be used when the patient is dehydrated.
Additionally intravenous access devices can be used for chemotherapy, chronic diseases such as diabetes, cancer, cardiovascular disorders, with acute infectious diseases also favors the growth of intravenous access devices market. Moreover, urbanization and growing geriatric population all over the world is expected to boost the growth of intravenous access device market.
Rising incidence of cardiovascular disease due to increase in the prevalence of diabetes, high blood pressure cases and number of smokers worldwide is expected to favor the demand for intravenous access device around the globe.
According to World Health Organization (WHO), in 2015 around 17.7 million people died due to cardiovascular disease worldwide. Furthermore, the majority of deaths are occurred in emerging economies due to high prevalence rate and lack of healthcare services in rural areas.
Also, increasing aging population and rising demand for intravenous access are the other factors leading to the growth of intravenous access device market in developed as well as emerging economies.
As per United Nations Population Fund, people aged 60 years and above accounted for 12.3% of the global population in 2015, which is expected to increase to 22% by 2050. The factors behind aging population in developed region are developed healthcare services and access of healthcare facilities to people, better nutrition, sanitation and economic development.
This report segments the intravenous access device market on basis of product type, catheters and the end user. On basis of product type, market is categorized into IV catheters, IV infusion pumps, IV needles. Among these IV catheters segment dominates the intravenous access devices market throughout the forecast period. On the basis of the catheters the markets is divided into midline peripheral catheter, peripherally inserted central catheters, centrally inserted central catheters and others among which peripherally inserted central catheters dominates the market throughout the forecast period. Further the market is segmented on basis of end user into hospitals and clinics, ambulatory surgery centers and others such as home or diagnostic center among which hospitals and clinics dominates the market. On the basis of geography, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Among all regions, North America contributes major market share supported by increased incidence rate of cardiovascular disease and growing inclination of the populace towards intravenous access device.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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