The global peripheral intravenous catheter market is poised for remarkable growth, with projections indicating a surge to USD 13,006.1 million by 2034, up from USD 6,489.3 million in 2024. This represents a robust compound annual growth rate (CAGR) of 7.2% throughout the forecast period.
The market’s expansion is driven by a combination of factors, including the increasing prevalence of chronic diseases, a rise in global surgical procedures, and advancements in catheter technology.
Key Drivers of Market Growth:
- Rising Incidence of Chronic Diseases: The growing prevalence of chronic conditions such as cancer, diabetes, and cardiovascular diseases is significantly boosting demand for peripheral intravenous catheters. These diseases often require long-term hospitalization and frequent intravenous administration of medications or fluids.
- Increase in Surgical Procedures: With more surgical procedures being performed globally, the need for IV catheters for anesthesia and post-operative care has surged, further fueling market growth.
- Technological Advancements: Innovations in PIVC technology have revolutionized the market. Modern catheters designed to reduce the risks of infection, thrombosis, and phlebitis are becoming increasingly common in healthcare settings. These advancements enhance patient safety and drive the widespread adoption of PIVCs.
Challenges and Opportunities:
Despite the positive growth trajectory, the market faces challenges such as difficulties in PIVC insertion and the high cost associated with these devices. However, the short peripheral IV catheter remains a preferred choice due to its ease of use, cost-effectiveness, and high patient comfort.
As the healthcare industry continues to evolve, the peripheral intravenous catheter market is expected to benefit from ongoing innovations and increasing demand driven by chronic disease management and surgical procedures.
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.
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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.
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