About Intravenous Equipment
Intravenous treatment refers to the administration of liquid drugs by infusions into the veins. Intravenous infusions are often referred to as drips and are widely used in hospitals and healthcare facilities. The need for intravenous equipment has been driven by the need to prescribe drugs to patients suffering from serious diseases on a timely basis. While drips are a convenient way to get fluid into the body, many new intravenous equipment have emerged in recent years. In addition, intravenous treatment is used to remedy electrolyte imbalances and administer fluid replacement therapies. An ageing population with chronic diseases, especially in developing countries, is expected to demand an increasing number of surgical procedures. IV therapy is one of the best options available, which could help IV equipment manufacturers. Furthermore, advancements in technology in the intravenous (IV) equipment industry are expected to boost demand in the coming year.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.1% |
Strategic alliances, such as acquisitions and mergers, as well as production expansions and new product launches, are the key marketing measures emphasized by these participants to increase their competitive value and geographical presence. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Intravenous Equipment market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
B. Braun Melsungen AG (Germany), Baxter Interanl Inc.(United States), Fresenius SE & Co. KGaA (Germany), ICU Medical, Inc.(United States), Smiths Medical (United Kingdom), C. R. Bard, Inc.(United States), Henry Schein, Inc. (United States), Terumo Corporation (Japan), Moog, Inc.(United States) and AngioDynamics, Inc.(United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are ACE Medica (India) and AseptInmed (France).
Segmentation Overview
AMA Research has segmented the market of Global Intravenous Equipment market by Type (IV Catheters, Infusion Pumps, Securement Devices, Administration Sets, Needleless Connectors and Other) and Region.
On the basis of Type, IV Catheters are dominating the market in the year 2023On the basis of application, Hospitals segment is dominating the market in the year 2023On the basis of geography, the market of Intravenous Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End-User, the sub-segment i.e. Hospitals will boost the Intravenous Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Focus on Smart Pumps
Market Growth Drivers:
Increasing Incidence of Chronic Diseases and Rising Geriatric Population and Growing Number of Surgical Procedures Performed
Challenges:
Stringent Regulatory Requirements
Restraints:
Patient Safety Risks and Medication Errors and New equipment and the absence of wireless connectivity in surgical centers
Opportunities:
Increased Investment in Healthcare sector and Growth Opportunities in Untapped Markets
Market Leaders and their expansionary development strategies
On 13th December 2021, Baxter International, Inc., a global leader in medical technology, announced the completion of its acquisition of Hillrom. For a total purchase price of USD10.5 billion, Baxter paid USD156.00 in cash for each outstanding share of Hillrom common stock (based on Hillrom share counts at closing). The transaction's enterprise value, including the assumption of Hillrom's outstanding debt obligations, is approximately USD12.5 billion.
On 21st September 2021, B. Braun Medical Inc., a global leader in infusion therapy and pain management, has launched its latest CARE SAFE IV Administration Sets with an Optional AirStop component. CARE SAFE IV Sets are the first robust IV administration set portfolio in the US market that is free of polyvinyl chloride (PVC) and diethylhexyl phthalate (DEHP). Consumers provide an additional layer of protection for the environment and, more importantly, patients from the potential health risks associated with chemical exposure.
Certain Intravenous equipment require premarket approval. PMA is the most stringent type of device marketing application required by FDA. The applicant must receive FDA approval of its PMA application prior to marketing the device. PMA approval is based on a determination by FDA that the PMA contains sufficient valid scientific evidence to assure that the device is safe and effective for its intended use(s).
Key Target Audience
Manufacturers of Intravenous Equipment, Suppliers of Intravenous Equipment, Wholesalers, Distributors and Retailers of Intravenous Equipment, Healthcare Industry, Regulatory Bodies and Governmental Bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.