PUBLISHER: The Business Research Company | PRODUCT CODE: 1619684
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619684
Intravenous (IV) fluid monitoring devices are medical instruments designed to oversee and manage the administration of fluids directly into a patient's bloodstream through an intravenous line. These devices ensure the correct type and quantity of fluid are delivered safely and effectively, while also monitoring the patient's response to the fluid therapy.
The primary types of intravenous fluid monitoring devices are wired and wireless. Wired devices connect to the monitoring system via cables or wires. These devices are used for various applications, including flow monitoring, volume monitoring, and pressure monitoring. They are utilized by several end users, such as hospitals, clinics, ambulatory surgical centers, home care settings, and others.
The intravenous fluid monitoring devices market research report is one of a series of new reports from The Business Research Company that provides intravenous fluid monitoring devices market statistics, including the intravenous fluid monitoring devices industry global market size, regional shares, competitors with intravenous fluid monitoring devices market share, detailed intravenous fluid monitoring devices market segments, market trends, and opportunities, and any further data you may need to thrive in the intravenous fluid monitoring devices industry. These intravenous fluid monitoring devices market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The intravenous fluid monitoring devices market size has grown strongly in recent years. It will grow from $4.71 billion in 2023 to $5.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth during the historic period can be attributed to the rising prevalence of chronic diseases, an expanding geriatric population, advancements in healthcare infrastructure, stricter regulatory standards, and an increase in the number of surgical procedures and critical care treatments.
The intravenous fluid monitoring devices market size is expected to see strong growth in the next few years. It will grow to $7.21 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The anticipated growth during the forecast period can be attributed to the increasing focus on patient safety, the expansion of healthcare facilities, the rising development of remote monitoring devices, the growing number of smart and connected devices, and heightened awareness of fluid management. Key trends expected include the integration of Internet of Things (IoT) technology, the adoption of artificial intelligence, the development of wearable technology, advancements in smart infusion pumps, and improvements in data analytics for optimizing fluid management strategies.
The growth of home healthcare is expected to drive the expansion of the intravenous fluid monitoring devices market. Home healthcare involves both medical and non-medical services provided to individuals in their homes to support their health and well-being. This trend is largely attributed to factors such as an aging population, advancements in medical technology, the increasing prevalence of chronic diseases, and a growing preference for in-home care due to its comfort and cost-effectiveness. Intravenous fluid monitoring devices used in home healthcare ensure accurate tracking of fluid administration, proper hydration, and medication delivery, while also enabling remote monitoring to improve patient care. For example, a report published by Public Health Scotland in November 2023 revealed that the total hours of Care at Home services in 2022/23 reached over 37.7 million, marking a growth of approximately 3% compared to the previous year. As a result, the rise in home healthcare is contributing to the growth of the intravenous fluid monitoring devices market.
Key players in the intravenous fluid monitoring devices market are forming strategic partnerships to enhance their product offerings, broaden their market reach, and foster innovation. Collaborations with technology companies or research institutions allow for the integration of advanced technologies such as the Internet of Things (IoT) and artificial intelligence (AI) into their devices, improving accuracy and functionality. For instance, in August 2023, B. Braun, a Germany-based medical and pharmaceutical device company, incorporated remote monitoring technology from Monitor, a Finland-based health tech firm, into its infusion pumps. This integration enhances the versatility of B. Braun's IV therapy infusion pumps, enabling healthcare professionals to monitor infusions remotely, thus improving patient care.
In May 2022, Fresenius Kabi, a Germany-based healthcare company, acquired Ivenix Inc. for $240 million. This acquisition significantly expands Fresenius Kabi's infusion therapy portfolio by incorporating Ivenix's advanced infusion pump technology with its existing intravenous fluids and devices. Ivenix Inc., a US-based company specializing in infusion therapy, develops advanced infusion pump systems aimed at reducing medication errors and enhancing patient safety.
Major companies operating in the intravenous fluid monitoring devices market are Cardinal Health Inc., Johnson & Johnson Services Inc., 3M Company, Medtronic plc, Becton, Dickinson and Company, Baxter International Inc., B. Braun Holding GmbH & Co. KG, Fresenius Kabi AG, Terumo Corporation, Mindray Medical International Limited, Nipro Corporation, Moog Inc., West Pharmaceutical Services Inc., ICU Medical Inc., Insulet Corporation, Merit Medical Systems Inc., Avanos Medical Inc., NxStage Medical Inc., AngioDynamics Inc., Elcam Medical Inc., Zyno Medical LLC, Sippex, Arcomed AG, Vitrex Medical A/S
North America was the largest region in the intravenous fluid monitoring devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intravenous fluid monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the intravenous fluid monitoring devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The intravenous fluid monitoring devices market consists of sales of infusion pumps, flow meters, pressure transducers, and monitoring sensors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Intravenous Fluid Monitoring Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on intravenous fluid monitoring devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for intravenous fluid monitoring devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The intravenous fluid monitoring devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.