Intravenous Access Device Market to Surpass US$ 60.57 Billion Threshold by 2025, with North America positioned as Growth Engine - Coherent Market Insights

Published On : Aug 03, 2017

Intravenous access devices market to gain rapid traction, with increasing consumer inclination towards intravenous procedures

The Global Intravenous Access Devices Market was valued at US$ 34,100.7 million in 2016 and is projected to expand at a CAGR of 6.6% during the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Increase in demand for minimally invasive procedures, in turn is projected to support growth of intravenous access devices market over the forecast period.

Manufacturers are focusing on product innovation to tap into emerging market. For instance Baxter International Inc. announced new bi-directional integration DoseEdge Pharmacy between the dedicated intravenous (IV) workflow systems and the hospitals electronic medical record (EMR) that help hospitals efficiently comply with requirements from the Centers for Medicare & Medicaid Services (CMS) and other insurers that call for accuracy in the documentation of the drugs used to compound doses for patients, which will help for safe and proper use of intravenous access devices.

Intravenous access device can be marked by UV light where silicone tubing is used for intubation or other intravenous applications as it allows marking on the inside surface of the tube.

To know the latest trends and insights prevalent in the intravenous access devices market, click the link below:

Intravenous procedures are highly preferred to treat cardiovascular disease are expected to drive growth of the intravenous access devices market over the forecast period. Key players operating in the market are focusing on development of new intravenous devices for treatment of diabetes and coronary heart disease to expand their market share. According to World Health Organization (WHO), in 2016, around 10% adults out of around 110 million people suffered from diabetes in China. The number is projected to reach around 150 million by 2040.

The manufacturers have opportunity to tap major market share in case of emerging economies, as around 50% percent of population live with undiagnosed lifestyle diseases. For instance, as per WHO, in 2016, around 53% of people suffering from diabetes were undiagnosed in China.

Key takeaways of the market:

  • The global intravenous access devices market is expected to expand at a CAGR of 6.6% during the forecast period (2017–2025). Due to rising incidence of cardiovascular disease cases and increase in demand for intravenous procedure from around the globe is expected to favor the market of intravenous access devices over the forecast period.
  • The Asia Pacific region in the global intravenous access devices market is expected to show high growth rate during the forecast period in terms of value
  • In terms of product segment, the IV catheters intravenous access devices type is expected to expand at a significant CAGR of 6.6%, followed by IV needles intravenous access devices during the forecast period, owing to more preference due to its features
  • The global intravenous access devices market is characterized by market expansion in Asia Pacific, North America, and Europe could generate higher market revenue due to the high incidence rate of lifestyle disease such as diabetes and increase in number of surgery procedures
  • Some of the major companies offering intravenous access devices are Becton, Dickinson and Company, B. Braun Melsungen AG, Teleflex, Inc., C.R. Bard, Fresenius Medical Care, Smiths Medical, Hospira, Inc., Covidien Plc, Fresenius Medical Care AG & Co., CareFusion Corporation and Baxter International

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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