The latest market analysis by Future Market Insights predicts significant growth in the global IV disposables market, with an expected compound annual growth rate (CAGR) of 11.8% from 2023 to 2033. The market, which was valued at US$ 17.0 billion in 2023, is forecasted to reach a substantial US$ 51.6 billion by 2033.
In 2022, the market valuation stood at US$ 15.5 billion, showing a year-over-year growth of 9.6% into 2023. The increase reflects a burgeoning demand across healthcare settings for IV disposables driven by the extensive usage of infusion pumps and related accessories in both medical facilities and home care settings.
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The surge in market demand can partly be attributed to the widespread adoption of infusion pumps during the ongoing global health challenges posed by the COVID-19 pandemic. In the United States alone, sales of infusion pumps saw a notable rise with 1,033 units sold in 2022, further amplifying the need for IV disposables.
Advancements in IV therapy technology have enhanced the efficacy and safety of IV treatments, which has concurrently boosted the market growth. Healthcare facilities are increasingly prioritizing cost containment and effectiveness, integrating cutting-edge, safety-enhancing pumping devices and needleless technologies into their operations. These factors are anticipated to continue propelling the demand for disposable IV therapy products throughout the forecast period.
Additionally, the shift towards disposable medical products is also driven by the critical need to mitigate healthcare-associated infections—a priority for healthcare providers globally. Disposable products, such as catheters and syringes, are essential in this endeavor, ensuring both patient safety and healthcare efficiency.
Market Dynamics:
- Market Growth: Historical and projected growth rates of the IV disposables market.
- Drivers: Factors influencing market growth such as rising patient population, technological advancements, and increasing demand for home healthcare.
- Restraints: Challenges like stringent regulatory requirements, product recalls, etc.
- Opportunities: Untapped markets, emerging economies, innovative product development.
Market Trends and Future Outlook:
- Technological Advancements: Impact of new technologies on IV disposables.
- Shifts in Healthcare Delivery: Emphasis on home healthcare and ambulatory care.
To Put It Concisely, The Takeaway Is IV Disposables Market:
- By Product, Infusion pumps are the leading segment as and held about 1% market share in 2022, due to efficiency, accuracy, and versatility in delivering fluids and medications in various healthcare settings.
- By End User, the hospitals dominated the global IV disposables market withholding the total market share of about 6% by the end of 2022, as they offer specialized treatment options that require advanced IV therapies.
- By Region, North America is leading in the global IV disposables market and is expected to continue to do so with a projected CAGR rate of 6% during the forecasted years, due to increasing prevalence of chronic diseases in the region.
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Potential Elements That Might Limit the Expansion of the IV Disposables Market:
- Regulatory Challenges: The IV disposables market is subject to stringent regulations to ensure patient safety and product quality. Changes in regulatory requirements or delays in obtaining approvals for new products can hinder market growth.
- Price Pressure: Healthcare providers, especially in cost-sensitive environments, might exert pressure to reduce the cost of IV disposables. This can lead to manufacturers facing challenges in maintaining profitability while keeping prices competitive.
- Competition: The IV disposables market can become saturated with multiple manufacturers offering similar products. Intense competition can lead to price wars and reduced profit margins, making it challenging for companies to expand and invest in research and development.
- Technological Advances: Rapid advancements in medical technology could lead to the development of alternative treatment methods that reduce the reliance on traditional IV therapies, impacting the demand for IV disposables.
Key Companies Profiled:
- B. Braun Melsungen AG
- Baxter
- 3M
- Terumo Corporation
- Nipro Corporation
- Teleflex Incorporated
- Becton, Dickinson and Company
- Smiths Medical/ICU Medical
- Moog Inc
- AngioDynamics.
- Fresenius SE & Co. KgaA
- arcomed ag
Key Segments Covered in IV Disposables Market Industry Research:
By Product:
- Intravenous Administration Set
- IV Fluid Solution Bags
- IV Cannula
- Infusion Sets
- Infusion Pumps
- Catheter Needles
- Securement Devices
- Others (Stopcocks, connectors, Extention Tubes)
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Home Care Settings
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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