The global IV pole market is poised for substantial growth in the coming decade, with a projected worth of US$ 256.5 million in 2024 and an estimated CAGR of 3.5% from 2024 to 2034. According to industry experts, the IV pole market is forecasted to reach a valuation of US$ 361.0 million by 2034.
The surge in demand for IV poles is attributed to several factors driving hospital admissions worldwide. With a rising number of patients seeking medical care, particularly due to increasing cases of cancer, chronic conditions, and emergencies such as road accidents, the need for IV poles has become paramount in the healthcare sector.
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IV poles play a crucial role in facilitating emergency treatment, ensuring the safe and efficient administration of intravenous fluids and medications to patients. As hospitals continue to witness an influx of admissions, the demand for IV poles is expected to escalate correspondingly.
Key market players are actively investing in research and development initiatives to introduce innovative IV pole designs that enhance patient comfort, improve mobility, and streamline clinical workflows. Furthermore, strategic collaborations and partnerships are anticipated to drive market expansion and foster technological advancements in the IV pole segment.
The projected growth trajectory of the IV pole market underscores its significance in supporting the evolving healthcare landscape and meeting the evolving needs of healthcare providers and patients globally.
“IV poles with wheels are earning the approval of patients, while those with digital displays are helping doctors get a quick analysis of patients’ vitals. Thus, the inclination of producers is to keep the product line varied,” says an analyst at FMI.
Key Takeaways from the IV Pole Market:
- The IV pole market is expected to be valued at US$ 256.5 million in 2024.
- 4 hook top poles are most commonly used in healthcare settings. The segment is expected to account for 54.4% of the market share by product.
- Stainless steel is the material most often used in IV poles. In 2024, stainless steel is expected to contribute to 61.6% of the market share by material.
- Japan is expected to be one of the leading countries in terms of market progress. The country is forecasted to have a CAGR of 4.9% from 2024 to 2034.
- China is another Asian country with the potential for market growth. Over the forecast period, the CAGR for the market is predicted to be 4.1%.
- The market in the United States is expected to progress at a CAGR of 3.5% through 2034.
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Competition Analysis of the IV Pole Market:
The market’s nature is highly competitive, with plenty of room for small-scale players and new entrants to stand on their feet. Collaborations with public healthcare institutions are common. Some of the prominent companies in the market include 3M Healthcare, Medline Industries Inc., Cardinal Health, and Medline Industries.
Recent Developments in the IV Pole Market:
- In February 2022, Cardinal Health announced it would start using the Kinaxis RapidResponse platform.
- In November 2020, 3M and Safran Cabin finalized their terms on a partnership to boost sales of medical equipment.
Key Companies in the IV Pole Market:
- 3M Healthcare
- Medline Industries Inc.
- Cardinal Health
- Medline Industries
- Centicare Corporation
- AliMed Inc
- Mid Central Medical
- A.M.G. Medical Inc.
- Drive DeVilbiss Healthcare
Key Market Segmentation:
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 and Africa (MEA)
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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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