PUBLISHER: The Business Research Company | PRODUCT CODE: 1619686
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619686
Intravenous therapy and vein access devices involve the direct delivery of fluids, medications, or nutrients into the bloodstream through tools such as catheters and needles designed to access veins. These devices are crucial for administering hydration, medication, blood transfusions, and nutrition, ensuring accurate and ongoing care across different medical environments.
The primary categories in the market for intravenous therapy and vein access devices include implantable ports, intravenous (IV) catheters, hypodermic needles, infusion pumps, and other related devices. Implantable ports are small devices placed beneath the skin that offer a reliable and convenient access point for repeated IV treatments, which helps reduce the discomfort associated with frequent needle use. These devices are used in a range of applications such as volume expansion, medication delivery, blood products, and nutritional solutions, serving various facilities such as hospitals, clinics, and outpatient surgical centers.
The intravenous therapy and vein access devices market research report is one of a series of new reports from The Business Research Company that provides intravenous therapy and vein access devices market statistics, including the intravenous therapy and vein access devices industry global market size, regional shares, competitors with intravenous therapy and vein access devices market share, detailed intravenous therapy and vein access devices market segments, market trends, and opportunities, and any further data you may need to thrive in the intravenous therapy and vein access devices industry. These intravenous therapy and vein access 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 therapy and vein access devices market size has grown strongly in recent years. It will grow from $28.45 billion in 2023 to $30.65 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The increase during the historical period can be credited to the expansion of hospital facilities, the growth of intensive care units (ICUs), advancements in medical research and development, and the growing geriatric population.
The intravenous therapy and vein access devices market size is expected to see strong growth in the next few years. It will grow to $41.52 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The anticipated growth in the forecast period is driven by a rise in surgical procedures, the introduction of biodegradable materials, improved infection control practices, increasing healthcare spending, and a higher incidence of chronic diseases. Key trends expected during this period include developments in minimally invasive techniques, progress in catheter technology, innovations in smart intravenous devices, enhancements in ultrasound-guided methods, and advances in home healthcare devices.
The growing number of surgical procedures is anticipated to drive the expansion of the intravenous therapy and vein access devices market. This growth is fueled by the rising demand for elective surgeries such as cosmetic and plastic procedures, including rhinoplasty. Intravenous therapy and vein access devices are crucial in these surgeries for administering anesthesia, medications, fluids, and nutrients, maintaining patient stability, and enabling quick interventions. For example, the Australian Institute of Health and Welfare reported a significant increase in surgical admissions in public hospitals, with 735,500 patient admissions recorded in the 2022-23 period, marking an 18% rise from the previous year. This surge in surgeries contributes to the growth of the intravenous therapy and vein access devices market.
Key players in the intravenous therapy and vein access devices sector are focusing on developing short peripheral intravenous catheters to improve patient comfort, reduce insertion-related complications, and enhance the efficiency of fluid and medication delivery. These catheters offer a swift and effective method for delivering fluids, medications, and nutrients directly into the bloodstream, minimizing patient discomfort and infection risk, while ensuring reliable venous access. For instance, in October 2023, B. Braun, a Germany-based medical device company, introduced the Introcan Safety 2 IV Catheter. This short peripheral intravenous catheter features passive needlestick prevention and a Multi-Access blood control septum to improve clinician safety by providing automatic needlestick protection and minimizing exposure to bloodborne pathogens.
In January 2022, ICU Medical Inc., a US-based medical products company, acquired Smiths Medical Inc. for $2.35 billion. This acquisition included the integration of Smiths Medical's product lines, such as syringe and ambulatory infusion devices, vascular access products, and vital care solutions, into ICU Medical's infusion therapy portfolio. Smiths Medical Inc. is known for manufacturing medical devices for both hospital and home settings, with a focus on infusion systems, vascular access, and vital care products.
Major companies operating in the intravenous therapy and vein access 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, 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., Zyno Medical LLC, Sippex
North America was the largest region in the intravenous therapy and vein access devices market in 2023. The regions covered in the intravenous therapy and vein access devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the intravenous therapy and vein access devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The intravenous therapy and vein access devices market consists of revenues earned by entities by providing services such as catheter insertion, intravenous administration, device maintenance, sterilization, training for healthcare professionals. The market value includes the value of related goods sold by the service provider or included within the service offering. The intravenous therapy and vein access devices market also includes sales of catheters, infusion pumps, and needleless connectors. 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 Therapy And Vein Access 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 therapy and vein access 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 therapy and vein access 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 therapy and vein access 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.