The global peripheral intravenous catheter market is projected to reach USD 13,006.1 million by 2034, up from USD 6,489.3 million in 2024, with a predicted CAGR of 7.2% throughout this period.
The peripheral intravenous catheter (PIVC) market is experiencing continuous growth, with several factors contributing to this trend. One of the primary drivers of this growth is the increasing prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases, which require long-term hospitalization and frequent administration of medications or fluids through PIVCs.
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Another factor contributing to the growth of the PIVC market is the rise in the number of surgical procedures being performed worldwide. These procedures often require the placement of an IV catheter to administer anesthesia, fluids, and medications during and after surgery. With the increase in surgical procedures globally, the demand for PIVCs has witnessed a significant uptick.
Technological advancements in the design and materials used in PIVCs have also propelled market growth, with the development of advanced catheters that reduce the risk of infection, thrombosis, and phlebitis, thereby increasing their adoption in healthcare facilities.
There are also some restraining factors influencing the PIVC market, such as the difficulty of inserting a PIVC and lack of experience, which may limit their usage. Additionally, the high price of PIVCs is anticipated to be the main barrier to market expansion. Nevertheless, ease of use, low cost, and high patient comfort make short PIVCs a prominent choice in the PIVC market. The short peripheral IV catheter is favored due to its many features, thus accounting for a significant market share.
“The trend and outcomes of minimally invasive devices, along with the rise in the number of surgical procedures performed worldwide, are surging market growth, “opines an analyst at FMI.
Key Takeaways from the Market Study:
- The short peripheral IV catheter segment is set to account for a market share of 35.1% in 2024.
- Safety PIVC technology holds the top position in the segment with a market share of 30.3% in 2024.
- The peripheral intravenous catheter market in India is experiencing exponential growth, registering a CAGR of 7.5% through 2034.
- The peripheral intravenous catheter market in the United States is estimated to progress at a CAGR of 7.5% through 2034.
- The peripheral intravenous catheter market in China is anticipated to develop at a CAGR of 7% through 2034.
- The peripheral intravenous catheter market in Italy is projected to surge at a CAGR of 6.7% through 2034.
- The peripheral intravenous catheter market in Japan is predicted to rise at a 6.6% CAGR through 2034.
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Competitive Landscape:
Major companies include Becton, Dickinson, and Company, B. Braun Melsungen AG, Smiths Group plc, Terumo Corporation, Venner Medical, Vygon, Teleflex Incorporated, and C. R. Bard, Inc. Collaboration between healthcare providers and companies leads to more innovative and patient-centric outcomes. Companies are focused on developing and launching more affordable and effective products.
Recent Developments:
- Braun Medical Inc. expanded its Peripheral Advantage® Program in October 2023 to address health inequities in vascular access and improve standards of care for intravenous therapies.
- In November 2023, BD launched PIVO™ Pro, an innovative needle-free blood draw technology that supports BD’s vision of a “One-Stick Hospital Stay,” reducing needlesticks, improving patient experience, and enhancing clinical outcomes.
Peripheral Intravenous Catheter Market Segmentation:
By Product Type:
Based on product type, the industry is categorized into short peripheral IV catheter, ported PIVC, non-ported PIVC, integrated/closed PIVC, closed with extension sets, and closed PIVC.
By Technology:
When it comes to technology, the industry is classified into conventional PIVC, safety PIVC, closed with Extension Set, active PIVC with blood control, passive PIVC with blood control, active PIVC, passive PIVC
By End User:
Key end users present in this industry are hospitals, ambulatory surgical centers (ASCs), clinics, home use, and others
By Region:
The industry is scrutinized across key regions including North America, Latin America, Asia Pacific, Middle East and Africa (MEA), as well as Europe.
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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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