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Global Peripheral Intravenous Catheter Market, By Product Type (Short PIVC (Ported PIVC and Non-ported PIVC) and Integrated/Closed PIVC), By Technology (Conventional and Safety), By End User (Hospitals, Ambulatory Surgical Centers, Clinics, Home Use, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 4,881.1 million in 2020 and is expected to exhibit a CAGR of 6.4% over the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.

Raising funding for research and development of peripheral intravenous catheter is expected to boost the market growth over the forecast period

For instance, in December 2019, Griffith University received funding of US$ 1.5 million from the National Health and Medical Research Council for R&D in peripheral intravenous catheters.

Moreover, increasing launch of novel peripheral intravenous catheter is expected to drive the market growth over the forecast period.

For instance, in February 2017, Teleflex Inc. launched TrapLiner catheter in the U.S. The product is meant to be used with guide catheters also knows as extension catheter to get access to distinct areas of the peripheral vasculature.

Global Peripheral Intravenous Catheter Market – Impact of Coronavirus (Covid-19) Pandemic

The COVID-19 pandemic has impacted the global economy and in turn, the peripheral intravenous catheter market. Quarantine, traveling constraints, and social distancing measures are likely to lead to a steep decline in business and consumer spending until the end of the second quarter of 2020. Moreover, peripheral intravenous catheters are used for administration of medication and nutrients in hospitals and healthcare facility. An increase in patient population suffering from COVID-19 and increasing in the number of patients admitted in the hospital are expected to increase the demand for peripheral intravenous catheter.

Browse 42 Market Data Tables and 44 Figures spread through 193 Pages and in-depth TOC on “Peripheral Intravenous Catheter Market”- Global Forecast to 2027, By Product Type (Short PIVC (Ported PIVC and Non-Ported PIVC) and Integrated/Closed PIVC), By Technology (Conventional and Safety), By End User (Hospitals, Ambulatory Surgical Centers, Clinics, Home Use, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),

To know the latest trends and insights prevalent in the global peripheral intravenous catheter market, click the link below:

https://www.coherentmarketinsights.com/market-insight/peripheral-intravenous-catheters-market-3208

Key players operating in the market are focusing on adoption of inorganic growth strategies such as acquisition and collaboration in order to expand their product portfolio and increase their presence in the global market. For instance, in November 2019, ICU Medical, Inc. entered into a collaborative agreement to acquire Pursuit Vascular, Inc., a privately-held medical device company that develops catheters.

Key Takeaways of the Global Peripheral Intravenous Catheter Market:

  • The global peripheral intravenous catheter market is expected to exhibit a CAGR of 6.4% over the forecast period, owing to increasing incidence of chronic diseases such as cancer, which is expected to drive the market growth over the forecast period. According to the European Commission reports in 2019, the estimated number of new cancer cases in 28 European countries was 1.6 million in males and 1.4 million in females.
  • Among product type, integrated/closed PIVC segment is estimated to account for the largest market share in 2020, owing to increasing approval of novel products and rise in launches of technologically advanced products
  • Among end-user, hospital segment is estimated to account for the largest market share in 2020, owing to increasing patient population suffering from chronic diseases during the forecast period
  • Key players operating in the global peripheral intravenous catheter market include Becton, Dickinson and Company, B. Braun Melsungen AG, Smith Medical, Terumo Corporation, Tangent Medical, Velano Vascular Inc., Vygon Group, VOGT MEDICAL, RenovoRx, Retractable Technologies, Teleflex, and ICU Medical
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