The Global IV dressings Market is estimated to be valued at US$ 794.7 million in 2023 and is expected to exhibit a CAGR of 5.3% during the forecast period (2023-2030).
Analysts’ Views on Global IV Dressings Market:
I.V. dressing is basically a transparent dressing used to protect I.V. sites or catheters from the insertion point and can also be used as secondary dressings. I.V. dressings allow the excess moisture while maintaining a moist wound healing environment, which is necessary for wound healing and helps block germs and keep the catheter site dry and clean. The increasing incidence of blood infections and the number of surgeries are expected to increase the demand for IV dressings across the globe. Thus, it offers the opportunity for various market players to offer new products in the market in order to strengthen its position in the market.
Figure 1. Global IV Dressings Market Share (%), By Application, 2022
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Global IV Dressings Market– Drivers
Figure 2. Global IV Dressings Market Share (%), By Region, 2022
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Global IV Dressings Market- Regional Analysis
Among regions, North America is expected to hold a dominant market share in the global IV dressings market owing to increasing growth strategies such as acquisitions by market players in the region. For instance, in December 2021, Essity, a hygiene and health company, announced the acquisition of Hydrofera, a manufacturer of antibacterial wound dressings. This acquisition will help Essity expand its business in the medical solution segment. Hydrofera has a strong sales channel in the U.S. and Canadian healthcare markets.
Global IV Dressings Market– Impact of Coronavirus (COVID-19) Pandemic
The worldwide pandemic caused by the novel severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) has placed enormous strain on the health care systems of the nations where it has spread widely, with specific implications for practice in the catheterization laboratory. These implications include how modifications in standard practice for cardiac patients are needed for those who are suspected to have COVID-19 and those with COVID-19. At this time, to preserve hospital bed capacity, it would seem reasonable to avoid elective procedures on patients with significant comorbidities or in whom the expected length of stay is >1 to 2 days (or anticipated to require the intensive care unit). Examples of procedures to defer include: percutaneous coronary intervention for stable ischemic heart disease; endovascular intervention for iliofemoral disease in patients with claudication; and patent foramen ovale closure. Case decisions should be individualized, taking into account the risk of COVID-19 exposure versus the risk of delay in diagnosis or therapy. In a patient with known COVID-19 and ST-segment elevation myocardial infarction (STEMI), the balance between exposure of staff to the patient and patient benefit in terms of faster diagnosis and management will need to be carefully weighed.
Fibrinolysis can be considered an option for a relatively stable patient with STEMI with active COVID-19. In patients with active COVID-19 in whom primary percutaneous coronary intervention is to be performed, appropriate personal protective equipment should be worn, including a gown, gloves, goggles (or shields), and an N95 mask, especially given the limited ability to take a history from such patients as well as the potential for clinical deterioration in those with STEMI.
IV Dressings Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 794.7 Mn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 to 2030 |
Forecast Period 2023 to 2030 CAGR: | 5.3% | 2030 Value Projection: | US$ 1,141.5 Mn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Becton, Dickinson and Company, Lohmann & Rauscher, Komal Health Care Pvt. Ltd., Paul Hartmann AG, DeRoyal Industries Inc., Tytex, Shandong Dermcosy Medical Co., Ltd., Smith & Nephew plc, Dynarex Corporation, Talent Healthcare, 3M and Datt Mediproducts Pvt. Limited. |
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Growth Drivers: |
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Restraints & Challenges: |
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Global IV Dressings Market Segmentation:
The global IV dressings market report is segmented into product type, application, end user and region.
Among all the segments, the hospitals segment is expected to dominate the market over the forecast period, and this is attributed to the increasing number of patients admitted per year to hospitals.
Global IV Dressings Market- Cross Sectional Analysis:
The increasing use of disposable IV dressings during surgical procedures in hospitals is expected to boost market growth over the forecast period. For instance, in August 2022, according to the data published by the New Jersey Department of Health, 42.8% (7,398) of the 17,291 total open heart surgeries were performed in New Jersey, U.S., in 2022. In 2019-2020, the number of bypass surgeries were 43.1% (4,094 of the 9,489) in 2019 and 42.4% (3,304 out of 7,802) in 2020 were bypass surgeries in the U.S.
Global IV Dressings Market: Key Developments
Global IV Dressings Market: Key Trends
Global IV Dressings Market: Restraint
Global IV dressings market - Key Players
Major players operating in the global IV dressings market include Becton, Dickinson and Company, Lohmann & Rauscher, Komal Health Care Pvt. Ltd., Paul Hartmann AG, DeRoyal Industries Inc., Tytex, Shandong Dermcosy Medical Co., Ltd., Smith & Nephew plc, Dynarex Corporation, Talent Healthcare, 3M and Datt Mediproducts Pvt. Limited.
*Definition: IV dressings are used to secure catheters, prevent infections, protect the health and integrity of the skin, and help heal puncture wounds. The adhesive properties of an IV dressing play a critical role in both the function of the dressing and the effect of the dressing on the patient.
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About Author
Komal Dighe is a Management Consultant with over 8 years of experience in market research and consulting. She excels in managing and delivering high-quality insights and solutions in Health-tech Consulting reports. Her expertise encompasses conducting both primary and secondary research, effectively addressing client requirements, and excelling in market estimation and forecast. Her comprehensive approach ensures that clients receive thorough and accurate analyses, enabling them to make informed decisions and capitalize on market opportunities.
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