PUBLISHER: The Business Research Company | PRODUCT CODE: 1619685
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619685
Intravenous fluid transfer drug devices are tools designed to deliver fluids and medications directly into a patient's bloodstream via an intravenous line. These devices ensure efficient, controlled, and immediate administration of treatments, which is essential for hydration, medication delivery, and critical care. They are engineered to prevent contamination of both the medication and the IV fluid, maintaining sterility and reducing the risk of infection.
The main categories in the intravenous fluid transfer drug devices market include infusion bags, infusion devices, and other related products. Infusion bags are flexible, sterile containers used to hold and administer fluids, medications, or nutrients through an intravenous (IV) line. These devices are utilized in various medical applications such as treating autoimmune diseases, blood disorders, cardiovascular disorders, neurological conditions, and oncology. End-use sectors include hospitals, specialized clinics, and other healthcare facilities.
The intravenous fluid transfer drug devices market research report is one of a series of new reports from The Business Research Company that provides intravenous fluid transfer drug devices market statistics, including the intravenous fluid transfer drug devices industry global market size, regional shares, competitors with intravenous fluid transfer drug devices market share, detailed intravenous fluid transfer drug devices market segments, market trends, and opportunities, and any further data you may need to thrive in the intravenous fluid transfer drug devices industry. These intravenous fluid transfer drug 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 transfer drug devices market size has grown strongly in recent years. It will grow from $6.96 billion in 2023 to $7.38 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth during the historic period can be attributed to several factors, including a rising demand for efficient medical supplies, expansion of healthcare infrastructure, an increase in surgical procedures requiring IV support, policy changes, and a growing need for precise administration of new drugs.
The intravenous fluid transfer drug devices market size is expected to see strong growth in the next few years. It will grow to $9.4 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The projected growth during the forecast period can be attributed to several factors, including a growing demand for portable devices, increased investment in advanced medical technologies, a rising need for affordable healthcare solutions, and the expansion of non-hospital treatment settings. Key trends expected to emerge include the integration of smart technologies, the adoption of automated IV fluid transfer systems, advancements in safety features to minimize medication errors, and the adoption of devices that are compatible with remote monitoring solutions.
The increasing rate of hospitalizations is projected to drive the growth of the intravenous fluid transfer drug device market. This rise in hospital admissions is influenced by factors such as an aging population, chronic diseases, advanced diagnostic technologies, improved access to healthcare, and lifestyle-related health issues. Intravenous fluid transfer systems are crucial for the precise and controlled delivery of fluids and medications directly into patients' bloodstreams. For example, the American Hospital Association reported in May 2023 that total hospital admissions in the U.S. reached 34,011,386 in 2023, up from 33,356,853 in 2022. This growing hospitalization rate is expected to boost the demand for intravenous fluid transfer drug devices.
Leading companies in the intravenous fluid transfer device market are focusing on developing modular and comprehensive infusion systems equipped with features such as auto-identification to enhance accuracy, improve patient safety, and streamline fluid and medication administration. Auto-identification technology, which includes barcode scanning and RFID, ensures that medications are matched correctly to patients. For instance, in July 2023, Becton, Dickinson, and Company, a US-based medical device firm, received FDA 510(k) clearance for its upgraded BD Alaris Infusion System. This system includes enhanced hardware for its Point-of-Care Unit (PCU), such as large volume pumps, syringe pumps, patient-controlled analgesia (PCA) pumps, respiratory monitoring, and auto-identification modules. The updated software features improved cybersecurity and interoperability, enabling seamless integration with common electronic medical record (EMR) systems and supporting advanced, connected healthcare.
In May 2022, Fresenius Kabi AG, a Germany-based healthcare company, completed its acquisition of Ivenix Inc. for $240 million. This acquisition significantly enhances Fresenius Kabi's infusion therapy offerings by integrating Ivenix's advanced infusion pump technology with its existing range of intravenous fluids and devices. Ivenix Inc., a US-based medical technology firm, specializes in advanced infusion pump systems designed to reduce medication errors and improve patient safety.
Major companies operating in the intravenous fluid transfer drug devices market are Cardinal Health Inc., 3M Company, Medtronic plc, Becton, Dickinson and Company, Baxter International Inc., B. Braun Holding GmbH & Co. KG, Fresenius Kabi AG, Mindray Medical International Limited, Nipro Corporation, Moog Inc., West Pharmaceutical Services Inc., ICU Medical Inc., Insulet Corporation, Merit Medical Systems Inc., Avanos Medical Inc., Vygon SAS, NxStage Medical Inc., AngioDynamics Inc., Elcam Medical Inc., InfuSystem Holdings Inc., CODAN US Corporation, Zyno Medical LLC, Sippex, Arcomed AG
North America was the largest region in the intravenous fluid transfer drug 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 transfer drug devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the intravenous fluid transfer drug devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The intravenous fluid transfer drug devices market consists of sales of infusion pumps, IV bags, tubing sets, connectors, catheters, needles, flow regulators, and syringes. 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 Transfer Drug 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 transfer drug 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 transfer drug 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 transfer drug 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.