Global I.V. Dressing Market, by Product Type (Transparent and Translucent), by End User (Hospitals, Clinics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 724.2 million in 2021 and is expected to exhibit a CAGR of 5.7% over the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
The I.V. dressing market is expected to witness rapid growth over the forecast period, owing to increasing launches of new products.
For instance, in June 2017, 3M announced that the U.S. Food and Drug Administration (FDA) recognized the efficacy of 3M Tegaderm CHG Chlorhexidine Gluconate I.V. securement dressing in reducing CRBSI (catheter-related bloodstream infections), expanding the product’s 510(k) indication to include CRBSI reduction. This I.V. dressing is used for catheter-related bloodstream infections, which are life-threatening for patients and costly for the medical professionals and facilities caring for them.
In September 2016, Becton, Dickinson and Company and Vancive Medical Technologies entered into a collaboration to launch a line of ChloraShield I.V. dressings, developed for vascular access dressing and enhancing patient care. The new BD ChloraShield dressings that feature BeneHold CHG, an innovative adhesive technology from Vancive Medical Technologies, comfortably secures the dressing to the skin, absorbs fluids, and protects the site from external contaminants.
Global I.V. Dressing Market– Impact of Coronavirus (COVID-19) Pandemic
The coronavirus (COVID 19) pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors. The private healthcare sector is one of the sectors that has been majorly impacted by the COVID 19 pandemic.
The lockdown in various countries due to COVID 19 pandemic has created an economic burden on the private healthcare sector. Healthcare providers are facing challenges with regards to manpower, equipment, consumables, and other resources to ensure safety in the treatment of patients with other diseases, and also declining outpatient visits, etc.
Moreover, the coronavirus pandemic has negatively impacted the development, production, and supply of drugs and affected growth of the healthcare businesses of various companies across the globe, this has led to closure of industrial establishments, except manufacturing of essential commodities and disruption in supply chain of products.
Thus, COVID-19 pandemic has affected the economy in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets.
Supply chain and manufacturing activities in India, China, U.S., and others have been disrupted due to the global lockdowns, while countries such as Thailand, Indonesia, Singapore, and others are facing problems with regards to transportation of drugs and medications.
Thus, impact of the coronavirus (COVID-19) pandemic is expected to limit growth of the global I.V. dressing market during the forecast period.
Browse 27 Market Data Tables and 25 Figures spread through 153 Pages and in-depth TOC on “I.V. Dressing Market”- Global Forecast to 2028, Product Type (Transparent and Translucent), by End User (Hospitals, Clinics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Increasing development of products associated with I.V. dressing for reducing catheter-related bloodstream infections by market players is expected to drive the market growth. For instance, in November 2017, 3M, an American multinational conglomerate corporation, announced that their 3M Tegaderm CHG I.V. securement dressing meets the new recommendations by Centers for Disease Control (CDC) for reducing catheter-related bloodstream infections.
Key Takeaways of the Global I.V. Dressing Market:
Key players operating in the global I.V. dressing 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
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