The global IV therapy and vein access devices market are expected to reach USD 28.7 billion by 2024. From 2024 to 2034, revenue is expected to increase by 5.1% CAGR. By 2034, the market is estimated to be worth USD 47.3 billion. A new method of dressing and securing the device will help the patient avoid significant venous access failures. In these trials, new securement and dressing technologies are evaluated for their effectiveness in preventing central venous catheter admission to failure. Care for vein access devices is crucial, especially for patients undergoing long-term IV therapy. Aside from hygiene and troubleshooting instructions, there are also signs of infection or malfunctions to look out for.
IV therapy, also known as intravenous therapy, involves injecting fluids, medications, or vitamins directly into the bloodstream. It is commonly used in a variety of healthcare settings, including hospitals, clinics, and household settings. The use of vein access devices (VADs) facilitates the management of intravenous therapy. In IV therapy, peripheral IVs are among the most common VADs. Their simplicity, cost, and ability to treat short-term conditions make them a good option. It is, however, necessary to replace them frequently to prevent headaches, infiltration, and phlebitis
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IV therapy, particularly IV nutrition therapy, can be helpful for those whose digestive problems prevent proper nutrient absorption. Vitamins are administered intravenously to guarantee maximum absorption by bypassing the digestive system. IV therapy using vein access devices can make patients more comfortable by reducing needle insertion pain. With these devices, fluid and medication are administered more reliably and safely, improving the overall patient experience.
“Advances in drug delivery systems and innovative devices will propel IV therapy and vein access devices market growth. A combination of intravenous improvements and ongoing developments in IV therapy and vein access devices.” – Says an analyst at FMI.
Key Takeaways from the IV Therapy and Vein Access Devices Market:
- The IV therapy and vein access devices market generated USD 21.9 billion in 2019.
- A CAGR of 2.7% is predicted for the United Kingdom market through 2034.
- Spain is predicted to exhibit a CAGR of 4.4% over the forecast period.
- A CAGR of 3.5% is predicted for the Australia market between 2024 and 2034.
- Based on type, IV Therapy and Vein Access Intravenous Catheters accounted for 32.5% of the market in 2023.
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Competitive Landscape:
Several companies are researching and developing smart infusion pumps that can measure and adjust infusion rates in real time. Utilizing these devices improves accuracy and reduces the possibility of medication errors. The integration of superior virtual health solutions into IV treatment and vein access devices is possible with the collaboration of technology companies.
Recent Development:
- In November 2023, BD (Becton, Dickinson, and Company), a global leader in medical technology, introduced integrated catheters compatible with needle-free blood drawing technology, further enabling a “One-Stick Hospital Stay.” In compliance with U.S. Food and Drug Administration (FDA), the Nexiva Closed IV Catheter System with NearPort IV Access is compatible for the first time with integrated and long peripheral IV catheters with the new PIVO Pro Needle-free Blood Collection Device.
Key Players of the IV therapy and vein access devices Industry:
- BD (Becton Dickinson & Company)
- B. Braun Holding GmbH & Co. KG
- Terumo Medical Corporation
- Teleflex Medical Inc.
- Medtronic Inc.
- Smith & Nephew Plc.
- Angiodynamics Inc.
- Pfizer Inc.
- Insulet Corporation
- Fresenius SE & Co. KGaA
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IV Therapy and Vein Access Devices Market Segmentation:
By Type:
In terms of type, the industry is divided into Therapy and Vein Access Implantable Ports, Therapy and Vein Access Intravenous Catheters, Hypodermic IV Therapy and Vein Access Needles, Therapy and Vein Access Infusion Pumps, Other IV Therapy and Vein Access Devices Therapy and Vein Access Implantable Ports is further classified into Single Lumen Implantable Port, Double Lumen Implantable Port.
Therapy and Vein Access Intravenous Catheters is further classified into Peripheral Intravenous Catheter, Central Intravenous Catheter, Peripherally Inserted Central Catheter.
By Application:
In terms of application, the industry is segregated into Volume Expanders, Medication Administration, Blood-Based Products, Nutrition & Buffer Solutions.
By End Use:
In terms of end use, the industry is segmented into Hospitals, Ambulatory Surgical Centres, and Clinics.
By Region:
Key countries of North America, Latin America, Western Europe, Eastern Europe, South Asia, East Asia, the Middle East, and Africa have been covered in the report.
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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