The IV poles industry is poised for substantial growth, projected to reach a valuation of US$ 306.1 Million by 2029. According to recent market analysis, sales are anticipated to maintain a steady compound annual growth rate (CAGR) of 3.6% from 2022 to 2029, reflecting an upward trajectory in the healthcare sector, beginning with an estimated US$ 238.4 Million in 2022.
The IV poles market’s momentum is primarily driven by several key factors. The rising prevalence of chronic diseases has underscored the crucial need for enhanced medical infrastructure, including the demand for IV poles. Furthermore, the rapid expansion of the geriatric population and the concurrent surge in hospital beds to accommodate the growing patient pool have significantly contributed to this market’s upward trend.
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One of the critical driving forces behind this market’s growth is the increased healthcare expenditure witnessed globally. The substantial rise in healthcare spending across various regions has further bolstered the demand for IV poles, aligning with the overarching objective of providing advanced patient care.
“The projected growth of the IV poles market showcases a pivotal evolution in the healthcare landscape. As the prevalence of chronic diseases continues to rise and healthcare infrastructure expands, the demand for these vital medical devices is expected to soar,” stated Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
The forecasted trajectory of the IV poles industry presents an opportune moment for stakeholders and investors looking to capitalize on the burgeoning healthcare market. As technology continues to advance and healthcare services evolve, the significance of IV poles in facilitating efficient patient care remains indispensable.
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 Mn 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.
- 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:
In its latest report, FMI offers an unbiased analysis of the global IV poles market, providing historical data from 2014 to 2021 and forecast statistics for 2022 to 2029. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (2 hook top, 4 hook top, 6 hook top, 8 hook top), material (stainless steel, chrome plated steel, others), end user (hospitals, clinics, ambulatory surgical centers, nursing homes, long term care centers, homecare settings), and region.
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
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle-East & Africa
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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