The global Peripheral Intravenous (IV) Device market is forecast to reach USD 7,964.4 Million by 2028, according to a new report by Reports and Data. Peripheral Intravenous (IV) Device is a device that is used to draw blood and give treatments, including intravenous drugs, fluids, or blood transfusions. A thin and flexible tube is inserted into a vein, generally in the lower part of the arm, or the foot, and the back of the hand.
Factors such as rise in aging population and advancement in surgical and treatment technologies are driving the market for peripheral intravenous (IV) catheters. An increase in the adoption rate of closed catheters that help in injecting contrast media during computed tomography is a growing trend in the market. These catheters are made up of polyurethane material and has the strength to withstand pressure above 300 pounds per square inch. As they can withstand high pressure, they are increasingly used in CT imaging applications.
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Further key findings from the report suggest:
- Peripheral Intravenous (IV) Device are the most commonly used intravenous device in hospitalized patients. They are generally used for therapeutic purposes such as administration of medications, fluids, and blood products, as well as blood sampling. An increase in the number of patients hospitalized are propelling the demand for the product in the hospitals.
- Closed peripheral intravenous catheter provides safe and efficient intravenous access from start to finish. It also provides a high level of needle stick injury protection for those working in healthcare workers. It provides patient safety by minimizing intravenous complications and improving patient comfort. It also allows users to stay in control throughout the entire procedure.
- Safety intravenous catheters provide control of the blood to help reduce the risk of blood exposure and contamination. A unique valve inside the catheter hub impedes blood flow from the patient’s vein upon initial venipuncture. A clean access site helps prevent the transfer of blood borne pathogens from patient to caregiver on soiled gloves, bedding, clothing, and dressings.
- A short peripheral intravenous catheter (PIVCs) is frequently used to deliver chemotherapy in oncology practice. As the procedure of peripheral catheterization is invasive, there is a need for greater consistency in the choice, insertion, and management of short PIVCs, particularly in the oncology setting where there is a growing trend for patients to receive many different courses of IV treatment over a number of years, sometimes with only short remissions.
- North America dominated the market for Peripheral Intravenous (IV) Device, followed by Europe. The high demand in the market is driven by factors such as technological advancements and high medical expenses. Rise in the prevalence of disease in the developed regions are also propelling market demand.
Competitive Landscape:
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product service portfolio. The Peripheral Intravenous (IV) Device market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in RD, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.
Leading companies operating in the market are:
Becton, Dickinson and Company, B. Braun Melsungen AG, Smiths Medical, Inc., Tangent Medical Technologies Inc., Terumo Corporation, Teleflex Incorporated, Vigmed AB, Argon Medical Devices, Inc., Medical Components, Inc., and Vascular Pathways Inc., among others.
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Peripheral Intravenous (IV) Device Market Segmentation:
Type Outlook (Revenue, USD Million; 2020-2028)
- Peripheral Intravenous (IV) Device
- Integrated/Peripheral Intravenous (IV) Device
Technology Outlook (Revenue, USD Million; 2020-2028)
- Safety Peripheral IV Catheter
- Conventional Peripheral IV Catheter
Application Outlook (Revenue, USD Million; 2020-2028)
- Renal Disease
- Oncology
- Pediatric Disease
- Gastroenterology
- Infectious Disease
End Users Outlook (Revenue, USD Million; 2020-2028)
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Home Healthcare
Geographic Segment Covered in the Report:
The Peripheral Intravenous (IV) Device report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
• North America (the USA and Canada)
• Europe (UK, Germany, France, and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• the Middle East and Africa (GCC and the rest of the Middle East and Africa)
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Key market aspects are illuminated in the report:
- Executive Summary: It covers a summary of the most vital studies, the Global Peripheral Intravenous (IV) Device market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.
- Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Peripheral Intravenous (IV) Device market, the years measured, and the study points.
- Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features.
- Manufacture by Region: This Global Peripheral Intravenous (IV) Device report offers data on imports and exports, sales, production and key companies in all studied regional markets.
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