IV Equipment Market To Attain USD 26.7 Billion By 2032, Showcasing A 5.9% CAGR
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.
Increase in number of people suffering from chronic conditions, rise in geriatric population, continuous advancements in IV equipment technology, growing number of surgical procedures are the factors expected to drive the intravenous equipment market. 
Onkar Sumant – Manager
Life Sciences at Allied Market Research
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.
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Intravenous equipment refers to the tools and devices used in medical procedures where fluids, medications, or nutrients are directly delivered into a patient’s bloodstream through a vein. This equipment is designed to make the process safe and efficient. The management of chronic diseases often necessitates long-term IV therapy to directly administer medications, fluids, and nutrients into the bloodstream. In addition, as the prevalence of chronic conditions like cardiovascular diseases, diabetes, cancer, and autoimmune disorders continues to rise, there is an increasing demand for IV equipment to support the delivery of these essential therapies. As a result, the intravenous equipment market trends experiences growth in response to the rising need for effective intravenous treatments.
The growth of the Intravenous (IV) equipment market can be influenced by several factors, including:
- Increasing Incidence of Chronic Diseases: The rising prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases drives the demand for IV therapy, as it is often required for administering medications and fluids to manage these conditions.
- Aging Population: With the global population aging, there is a higher incidence of age-related illnesses and conditions that require IV therapy. Elderly individuals often have multiple health issues that necessitate IV treatments, boosting the demand for IV equipment.
- Technological Advancements: Advances in IV equipment technology have led to the development of safer, more efficient, and user-friendly devices. Innovations such as smart pumps, integrated electronic medical records, and wireless connectivity enhance patient safety and clinical outcomes, driving market growth.
- Rising Surgical Procedures: The increasing number of surgical procedures performed globally, including both inpatient and outpatient surgeries, drives the demand for IV equipment for pre-operative, intra-operative, and post-operative care.
- Growing Home Healthcare Market: The trend toward home-based healthcare services is increasing, driven by factors such as the aging population, cost-effectiveness, and advancements in technology. IV therapy is increasingly being administered in the home setting, spurring the demand for portable and easy-to-use IV equipment.
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Factors such as risk of infections and stringent regulatory requirements are the factors which hamper the growth of intravenous equipment market. The use of intravenous equipment carries a certain degree of risk, including the potential for complications and infections. Improper insertion, handling, or maintenance of IV catheters and infusion sets can lead to catheter-related bloodstream infections (CRBSIs) or other complications such as phlebitis or infiltration, thereby restraining the market growth. On the other hand, growing aging population, increasing surgical procedures, the expansion of home healthcare, emerging markets and the demand for sustainable solutions are the factors expected to offer opportunities to the key players of the market.
Impact of Covid-19 on Intravenous Equipment Market:
- The pandemic resulted in a surge in the number of severely ill patients requiring hospitalization and intensive care.
- In addition, COVID-19 patients required IV therapy for fluid resuscitation, administration of medications and nutritional support. This increased demand for IV therapy led to a rise in the demand for IV equipment, including infusion pumps, IV sets and catheters.
- Moreover, pandemic accelerated the adoption of home-based care and telehealth services. Patients were increasingly seeking care in the comfort of their homes, including intravenous therapy. This shift created opportunities for the development of portable and user-friendly intravenous equipment suitable for homecare settings.
Market Segments:
Types of Equipment:
- IV Catheters
- IV Infusion Pumps
- IV Solutions and Fluids
- IV Cannulas and Needles
- IV Sets and Accessories
- IV Bags and Containers
- IV Extension Sets
- IV Stopcocks and Valves
Applications:
- Medication Administration
- Fluid Replacement
- Blood Transfusion
- Parenteral Nutrition
- Diagnostic Testing
End-Users:
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Long-term Care Facilities
Regions:
- 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)
Leading Market Players:
- Becton, Dickinson and Company
- B. Braun SE
- ICU Medical, Inc.
- Baxter International Inc.
- Teleflex Incorporated.
- 3M Company
- AngioDynamics, Inc.
- Terumo Corporation
- Poly Medicure Ltd.
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Recent Product Approval in Intravenous Equipment Market
In August 2022, Baxter International Inc. received the U.S. Food and Drug Administration (FDA) 510(k) clearance for its new Novum IQ syringe infusion pump (SYR) with Dose IQ Safety Software, representing Baxter’s latest developments for infusion therapy.
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
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