As per a report published by Future Market Insights, the IV therapy and vein access devices market is anticipated to yield US$ 44.4 billion during the forecast period, with a compound annual growth rate of 5.6%. The growing support from multiple governments will likely drive market expansion in the coming years. It is projected that the industry will produce US$25.8 billion in 2022.
Increasing expenditure on healthcare, growing awareness about healthcare procedures, and an increasing number of specialty clinics and ambulatory centres will further expand the size of the IV therapy and vein access devices market in the future.
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As per the analysis, the medical administration segment is anticipated to hold remunerative opportunities for the global IV therapy and vein access devices market. Various developing countries are making significant developments in their budgets, thereby, offering lucrative opportunities to players in the market.
Key Takeaways from the Market Study
- Based on type, intravenous catheters are expected to record a 5.5% CAGR by 2032
- By medical application, the medical administration segment to expand at a 5.6% growth rate during the forecast period
- The U.S market to garner US$ 15.9 Billion and record a 5.4% CAGR from 2022-2032
- Market in China to procure US$ 3.2Billion, expanding at a 4.9% growth rate during the assessment period
Competitive Landscape
Eminent players of the global IV Therapy and Vein Access Devices Market include Becton, Dickinson and Company, B. Braun Holding Gmbh & Co. Kg, Terumo Medical Corporation, Teleflex Medical Inc., and Medtronic Inc. among others. Recent key developments among players include:
- In Feb-2022 — BD (Becton, Dickinson and Company) announced its acquisition of Cytognos, a privately held company headquartered in Salamanca, Spain, specializing in flow cytometry solutions for blood cancer diagnosis, minimal residual disease (MRD) detection and immune monitoring research for blood diseases.
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- In January 2021, Teleflex releases the Arrow® ErgoPack® Complete Multi-LumenAccessCatheter (MAC) System and the Arrow® ErgoPack® Complete Percutaneous Sheath Introducer (PSI) System. High-flow Arrow® MAC Catheters are designed to meet the needs of a variety of patient types – from trauma to cardiac – and offer full-spectrum antimicrobial protection against gram-positive, and gram-negative bacteria and fungi, the key infectious pathogens responsible for CLABSI.
Key Segments Covered In The IV Therapy And Vein Access Devices Industry Survey
IV Therapy and Vein Access Devices Market by Type:
- IV Therapy and Vein Access Implantable Ports
- Single Lumen Implantable Port
- Double Lumen Implantable Port
- IV Therapy and Vein Access Intravenous Catheters
- Peripheral Intravenous Catheter
- Central Intravenous Catheter
- Peripherally Inserted Central Catheter
- Hypodermic IV Therapy and Vein Access Needles
- IV Therapy and Vein Access Infusion Pumps
- Other IV Therapy and Vein Access Devices
IV Therapy and Vein Access Devices Market by Medical Application:
- IV Therapy and Vein Access Devices as Volume Expanders
- IV Therapy and Vein Access Devices for Medication Administration
- IV Therapy and Vein Access Devices for Blood-based Products
- IV Therapy and Vein Access Devices for Nutrition & Buffer Solutions
IV Therapy and Vein Access Devices Market by End User:
- IV Therapy and Vein Access Devices in Hospitals
- IV Therapy and Vein Access Devices in Ambulatory Surgical Centres
- IV Therapy and Vein Access Devices in Clinics
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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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