The global peripheral intravenous catheter market is on a trajectory of significant growth, projected to reach USD 13,006.1 million by 2034, up from USD 6,489.3 million in 2024, reflecting a robust compound annual growth rate (CAGR) of 7.2% over the forecast period. This expansion is fueled by the rising prevalence of chronic diseases, an increase in surgical procedures worldwide, and technological innovations in catheter design and materials.
Key Market Drivers:
One of the primary factors propelling the PIVC market is the increasing incidence of chronic diseases such as cancer, diabetes, and cardiovascular conditions, which often necessitate long-term hospitalization and frequent intravenous administration of medications or fluids. Additionally, the global rise in surgical procedures, which frequently require the use of IV catheters for anesthesia and post-operative care, has significantly boosted demand for PIVCs.
Advancements in PIVC technology have also played a crucial role in market growth. Innovations such as advanced catheters that minimize the risk of infection, thrombosis, and phlebitis have driven their widespread adoption in healthcare facilities. Despite these advancements, challenges such as the difficulty of PIVC insertion and the high cost of these devices continue to restrain market growth. However, the short peripheral IV catheter remains a popular choice due to its ease of use, cost-effectiveness, and high patient comfort.
Analyst Insights:
“The increasing trend toward minimally invasive devices, coupled with the surge in surgical procedures globally, is significantly driving market growth,” said an analyst at FMI.
Market Segmentation and Regional Highlights:
- Product Type: The short peripheral IV catheter segment is expected to dominate, accounting for 35.1% of the market share in 2024.
- Technology: Safety PIVC technology holds the leading position in the segment with a market share of 30.3% in 2024.
- Regional Insights:
- The peripheral intravenous catheter market in India and the United States is forecasted to grow at a CAGR of 7.5% through 2034.
- China’s market is anticipated to develop at a 7% CAGR, while Italy and Japan are projected to grow at 6.7% and 6.6% CAGRs, respectively.
Reveal Key Insights: Download the Full Peripheral Intravenous Catheter Market Report Here
Competitive Landscape:
Leading companies in the PIVC market include Becton, Dickinson and Company, B. Braun Melsungen AG, Smiths Group plc, Terumo Corporation, Venner Medical, Vygon, Teleflex Incorporated, and C. R. Bard, Inc. These companies are focusing on collaboration with healthcare providers to drive innovation and patient-centric outcomes, while also launching more affordable and effective products.
Recent Developments:
- In October 2023, B. Braun Medical Inc. expanded its Peripheral Advantage® Program to address health inequities in vascular access and improve standards of care for intravenous therapies.
- BD launched PIVO™ Pro in November 2023, an innovative needle-free blood draw technology that aligns with BD’s vision of a “One-Stick Hospital Stay,” aiming to reduce needlesticks, improve patient experience, and enhance clinical outcomes.
Market Segmentation:
- By Product Type: Short Peripheral IV Catheter, Ported PIVC, Non-Ported PIVC, Integrated/Closed PIVC, Closed with Extension Sets, Closed PIVC
- By Technology: 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: Hospitals, Ambulatory Surgical Centers (ASCs), Clinics, Home Use, and Others
- By Region: North America, Latin America, Asia Pacific, Middle East and Africa (MEA), and Europe
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
