The global IV Poles Market revenue is expected to be worth US$ 306.1 Million by 2029, with sales expanding at a 3.6% CAGR between 2022 and 2029. The IV Poles market is predicted to reach $238.4 million in 2022, driven by increased chronic illness incidence, rapid geriatric population growth, and an increase in the number of hospital beds to accommodate the growing patient pool. Globally increasing healthcare spending also leads to the growth of the IV Poles market throughout the forecast period.
The increased number of hospitals around the world, combined with rising healthcare expenses, has created new potential opportunities for the IV Poles business. The rising use of IV Poles for various applications in hospitals and clinics has resulted in higher utilisation of IV Poles, driving market growth for IV Poles from 2022 to 2029.
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Furthermore, technological advancements, the frequency of chronic diseases, and a focus on hospital growth are increasing hospital pole utilisation, which will likely drive the global IV Poles market. According to a recent American Hospital Association survey, there are currently 6,093 hospitals in the United States, including community hospitals, Federal Government Hospitals, Nonfederal Psychiatric Hospitals, and others. This expansion in hospital numbers is not limited to the United States, but is a global phenomenon that will give prospects for IV Poles manufacturers. During the forecast period, all of these variables will benefit the target market.
“A surge in the number of hospitals across the world along with a heightened demand for IV Poles from the same will stimulate the global growth of the IV Poles market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Expanding healthcare infrastructure will strengthen market opportunities.
- High cost and stainless steel corrosion may hamper the market growth.
- Germany will account for 23.1% of Europe’s IV Poles market by the end of 2022.
- In 2022, India will hold 53.7% of the market share in South Asia.
- In 2022, China’s IV pole market is likely to be valued at US$ 26.3 Million in the East Asia market.
- The stainless steel material segment will account for 62.5% of the market share in 2022.
- By product type, 4 hook top will hold 54.1% of the market share by the end of 2022.
- On the basis of end-user, hospitals will register a 3.4% CAGR over the assessment period.
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Competitive Landscape
3M Healthcare, Medline Industries Inc., Cardinal Health, Medline Industries, Centicare Corporation, AliMed Inc, Mid Central Medical, A.M.G. Medical Inc., and Drive DeVilbiss Healthcare among others are some of the major players in the IV Poles market profiled in the full version of the report.
Leading market players are employing tactics like strategic alliances. These enterprises are focusing on agreements, and partnerships and utilizing technological advancements to enhance their market share.
More Insights into IV Poles Market Report
According to the latest FMI reports, based on segmentation, the hospital segment is anticipated to acquire 66.1% of the overall market share in 2022 while recording a 3.4% CAGR during 2022-2029. The 4 hook top segment is predicted to continue its market domination by registering a high demand during the forecast period.
Based on region, the United States is anticipated to hold about 92.6% of the IV Poles market share in North America. Increasing prevalence of chronic diseases, the growing geriatric population, and the presence of many large hospitals in the U.S. fuel the target market growth in this country. The rising healthcare expenditure coupled with suitable reimbursement policies for hospitalized patients will further supplement the market growth in the U.S. China, Germany, and India, too, will experience considerable growth in the IV Poles market during the forecast period.
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IV Poles Market By Category
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
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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