The global IV poles market is expected to reach a valuation of US$ 306.1 Million by 2029, with sales growing at a steady CAGR of 3.6% from 2022 to 2029. Predicted to reach an estimated US$ 238.4 Million in 2022, the IV poles market is propelled by the rising prevalence of chronic diseases, swift growth in the geriatric population, and a surge in the number of hospital beds to meet the rising patient pool. Increasing healthcare spending all over the world also supplements the growth of the IV poles market during the forecast period.
An increase in the number of hospitals worldwide along with escalating healthcare expenditure has opened up growth avenues for the IV poles market. The growing number of hospital beds has resulted in an elevated adoption of IV poles for different applications in hospitals and clinics which, in turn, foster market growth for IV poles during 2022-2029.
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Furthermore, advancing technologies, prevalence of chronic disorders, and emphasis on the development of hospitals are fueling the adoption of hospital poles which will likely spur the growth of the IV poles market in the global space. Again, as per a recent survey executed by The American Hospital Association, the number of hospitals in the U.S., at present, amount to 6,093 which includes, community hospitals, Federal Government Hospitals, Nonfederal Psychiatric Hospitals, and others. This increase in the number of hospitals is not limited to the U.S. but is a global phenomenon and is expected to generate a growth opportunity for IV Poles manufacturers. All of these considerations will support the target market during the projected period.
“A surge in the number of hospitals across the world along with a heightened demand for IV poles from the same will stimulate the global growth of the IV poles market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Expanding healthcare infrastructure will strengthen market opportunities.
- High cost and stainless steel corrosion may hamper the market growth.
- Germany will account for 23.1% of Europe’s IV poles market by the end of 2022.
- In 2022, India will hold 53.7% of the market share in South Asia.
- In 2022, China’s IV pole market is likely to be valued at US$ 26.3 Mn in the East Asia market.
- The stainless steel material segment will account for 62.5% of the market share in 2022.
- By product type, 4 hook top will hold 54.1% of the market share by the end of 2022.
- On the basis of end-user, hospitals will register a 3.4% CAGR over the assessment period.
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Competitive Landscape:
3M Healthcare, Medline Industries Inc., Cardinal Health, Medline Industries, Centicare Corporation, AliMed Inc, Mid Central Medical, A.M.G. Medical Inc., and Drive DeVilbiss Healthcare among others are some of the major players in the IV poles market profiled in the full version of the report.
Leading market players are employing tactics like strategic alliances. These enterprises are focusing on agreements, and partnerships and utilizing technological advancements to enhance their market share.
More Insights into IV Poles Market Report
In its latest report, FMI offers an unbiased analysis of the global IV poles market, providing historical data from 2014 to 2021 and forecast statistics for 2022 to 2029. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (2 hook top, 4 hook top, 6 hook top, 8 hook top), material (stainless steel, chrome plated steel, others), end user (hospitals, clinics, ambulatory surgical centers, nursing homes, long term care centers, homecare settings), and region.
According to the latest FMI reports, based on segmentation, the hospital segment is anticipated to acquire 66.1% of the overall market share in 2022 while recording a 3.4% CAGR during 2022-2029. The 4 hook top segment is predicted to continue its market domination by registering a high demand during the forecast period.
Based on region, the United States is anticipated to hold about 92.6% of the IV poles market share in North America. Increasing prevalence of chronic diseases, the growing geriatric population, and the presence of many large hospitals in the U.S. fuel the target market growth in this country. The rising healthcare expenditure coupled with suitable reimbursement policies for hospitalized patients will further supplement the market growth in the U.S. China, Germany, and India, too, will experience considerable growth in the IV poles market during the forecast period.
IV Poles Market By Category:
By Product:
- 2 Hook Top
- 4 Hook Top
- 6 Hook Top
- 8 Hook Top
By Material:
- Stainless steel
- Chrome Plated Steel
- Others
By End User:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Nursing Homes
- Long Term Care Centers
- Homecare Settings
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle-East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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