Intravenous Equipment Market is estimated to reach $26.7 billion by 2032 | Impact of Recession in 2023 on the IV Equipment Market

How big is the intravenous therapy market?

According to the report, the intravenous equipment market was valued for $15.0 billion in 2022 and is estimated to reach $26.7 billion by 2032, exhibiting a CAGR of 5.9% from 2023 to 2032.

Key Takeaways:

• The IV catheters segment to maintain its leadership status throughout the forecast period
• The hospitals and clinics segment to maintain its lead position during the forecast period
• North America to maintain its dominance by 2032

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Increase in prevalence of chronic diseases such as diabetes, cardiovascular diseases, cancer and autoimmune disorders, technological advancements in intravenous equipment and growing number of surgical procedures are the factors that drive the growth of the global intravenous equipment market. However, stringent regulatory requirements are hampering the intravenous equipment market growth. On the contrary, the growth opportunities in emerging markets are expected to offer remunerative opportunities for expansion of the intravenous equipment market during the forecast period.

Major Factors Driving the Growth of Intravenous Equipment Market:

• Aging Population: As the global population continues to age, the demand for healthcare services, including IV therapy, has increased. Older individuals often require IV treatments for various medical conditions, contributing to the growth of the market.
• Increasing Chronic Diseases: The rise in chronic diseases such as diabetes, cancer, and cardiovascular disorders has led to a greater need for IV therapy. Patients with chronic conditions often rely on IV treatments for medication delivery, fluid replacement, and nutritional support.
• Technological Advancements: Advancements in IV technology have improved the safety, efficiency, and ease of IV therapy. For instance, the development of smart IV pumps and catheters with integrated electronic monitoring systems has made IV therapy more precise and reliable.
• Expansion of Healthcare Facilities: The expansion of healthcare facilities, including hospitals, clinics, and outpatient centers, has increased the accessibility of IV treatments. This, in turn, has contributed to the growth of the IV equipment market.
• Home Healthcare Services: A growing trend in home healthcare services has increased the demand for portable and user-friendly IV equipment. Patients can now receive IV treatments in the comfort of their own homes, which has led to the development of specialized IV devices designed for home use.

Market Segmentation:

Product Type:

1. • Intravenous Catheters: These are devices inserted into a patient’s vein for various purposes, such as medication administration or blood sampling.
   • Intravenous Infusion Pumps: Devices used to control and administer fluids, medications, and other treatments through an IV line.
   • Intravenous Sets: Includes tubing, connectors, and other accessories used to deliver fluids and medications through an IV.
   • Intravenous Cannulas: Thin, flexible tubes inserted into veins for blood withdrawal, intravenous drug administration, or other medical procedures.
   • Intravenous Solutions: The fluids and medications administered through IV therapy.
   • Intravenous Needles: Sharp, pointed devices used to puncture the vein for catheter insertion.

Application:

• • Therapeutic: IV therapy for the treatment of various medical conditions, such as hydration, medication administration, chemotherapy, and blood transfusions.
  • Diagnostic: IV therapy used for diagnostic purposes, such as collecting blood samples.
  • Nutritional Support: IV nutrition provided to patients who cannot receive adequate nourishment through oral intake.

End User:

• • Hospitals: Healthcare facilities and medical centers where IV therapy is commonly administered.
  • Ambulatory Care Centers: Outpatient facilities and clinics offering IV therapy services.
  • Home Healthcare: IV therapy administered at home by patients or trained professionals.
  • Long-Term Care Facilities: Nursing homes and assisted living facilities that provide IV therapy to residents.

Technology:

• • Traditional IV Equipment: Conventional IV equipment, such as gravity-based IV sets.
  • Smart IV Equipment: Advanced technology-driven devices with electronic monitoring, data collection, and dose calculation capabilities.
  • Needleless IV Systems: Systems designed to reduce the risk of needlestick injuries and infection.

Geography:

• North America  (U.S., Canada, Mexico)
• Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific  (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific)
• LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

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Regional Growth Dynamics:

North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global intravenous equipment market revenue, owing to its well-developed healthcare infrastructure, high disease prevalence, robust reimbursement policies, presence of key market players, technological advancements, and commitment to patient safety. However, the Asia-Pacific region is expected to witness the fastest CAGR of 6.9% from 2023 to 2032, owing to rapidly growing population, coupled with the increasing prevalence of chronic diseases, creates a significant demand for intravenous therapy and related equipment. The upsurge in healthcare expenditure in the emerging economies is anticipated to offer lucrative opportunities for the market expansion.

Competitive Landscape:

• Becton, Dickinson and Company
• B. Braun SE
• ICU Medical, Inc.
• Baxter International Inc.
• Teleflex Incorporated.
• 3M Company
• AngioDynamics, Inc.
• Terumo Corporation
• Poly Medicure Ltd.
• Vygon

Recent developments:

• Regulatory Compliance: Regulatory bodies continue to update and enforce standards for IV equipment to ensure patient safety. Manufacturers must stay compliant with evolving regulations and standards.
• Partnerships and Acquisitions: Many companies in the IV equipment market have entered into partnerships, mergers, and acquisitions to strengthen their product portfolios and expand their market presence. This has led to a more consolidated and competitive market landscape.
• Environmental Sustainability: There is a growing emphasis on the environmental impact of IV equipment. Manufacturers are developing more sustainable and eco-friendly materials, as well as focusing on reducing waste generated during IV therapy.
• Supply Chain Challenges: The COVID-19 pandemic exposed vulnerabilities in the global supply chain. Manufacturers are exploring ways to increase resilience and ensure a stable supply of IV equipment and solutions.

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Key Questions Answered in the Intelligent Study

What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?

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Market Dynamics and Transformations

Economic Downturn Analysis: Impact of Recession in 2023
Pandemic’s Influence: Impact of Covid-19 Pandemic
Market Evolution: Recent Developments in the Market with Key Players Announcements

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