Download Sample
Add to CartGlobal Intravenous Equipment Market Growth, Share, Size, Trends and Forecast (2024 - 2030)
By Type;
IV Catheters, Infusion Pumps, Securement Devices, Administration Sets, Drip Chambers, and Others.By End-User;
Hospitals, Ambulatory Surgical Centers, and Others.By Geography;
North America, Europe, Asia Pacific, Middle East and Africa, and Latin America - Report Timeline (2020 - 2030).Introduction
Global Intravenous Equipment Market (USD Million), 2020 - 2030
In the year 2023, the Global Intravenous Equipment Market was valued at USD 8,094.31 million. The size of this market is expected to increase to USD 11,619.25 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 5.3%.
The sudden onset of the COVID-19 pandemic had a significant impact on the intravenous (IV) equipment industry, primarily due to the abrupt cessation of non-immediate surgical procedures, which were postponed to alleviate strain on healthcare systems. Moreover, the use of intravenous therapies was curtailed in COVID-19 treatment protocols to minimize the risk of infection transmission. For instance, guidelines issued by the National Institute of Health in July 2023 recommended the limited use of IV Immunoglobulin for acute COVID-19 cases. Consequently, these restrictions led to a noticeable downturn in the IV equipment market. However, the market has gradually rebounded to pre-pandemic levels of demand and is poised for robust growth in the foreseeable future.
The escalating prevalence of chronic diseases, including cancer, kidney failure, and heart disease, as well as lifestyle disorders such as hypertension, diabetes, obesity, and depression, is driving market expansion. According to the World Health Organization data from April 2021, chronic diseases are projected to account for 71% of all global deaths annually, with 77% of mortality in low- and middle-income countries attributed to these conditions. The surge in chronic disease cases is expected to fuel demand for various surgical interventions, thereby bolstering market growth.
Moreover, demographic trends indicate a growing population affected by neurodegenerative diseases like dementia and Parkinson's disease. For instance, in Canada, over 500,000 individuals were living with dementia in January 2021, a figure projected to reach 912,000 by 2030, as per the Alzheimer Society of Canada. Similarly, Parkinson's disease affected approximately 150,000 individuals in France in 2021, with a higher prevalence among the geriatric population, according to the Fondation de France. This rising prevalence of chronic diseases underscores the importance of IV therapy in managing these conditions and is expected to drive market growth in the coming years.
Global Intravenous Equipment Market Recent Developments & Report Snapshot
Recent Developments:
-
In May 2019, B.Braun Medical announced that it intends to invest in the development of advanced IV infusion production facilities, which will make vital intravenous fluids safer and more productive when used by medical professionals on a regular basis.
-
In October 2017, PZifer Hospira Infusion System has been taken over by ICU Medical Inc. By collaborating with Pzifer, ICU Medical has expanded its product range for intravenous therapy.
| Parameters | Description |
|---|---|
| Market | Global Intravenous Equipment Market |
| Study Period | 2020 - 2030 |
| Base Year (for Intravenous Equipment Market Size Estimates) | 2023 |
| Drivers |
|
| Restraints |
|
| Opportunity |
|
Segment Analysis
The segmentation by Type encompasses a wide range of intravenous equipment, including IV catheters, infusion pumps, IV sets, needles, and other accessories. Each type of equipment serves specific functions within the broader context of IV therapy, ranging from facilitating venous access with catheters to precisely delivering fluids and medications with infusion pumps. This segmentation enables stakeholders to gain insights into the diverse array of products available in the intravenous equipment market and their respective roles in delivering safe and effective patient care.
The segmentation by End-User delineates the various healthcare settings and professionals that utilize intravenous equipment, including hospitals, ambulatory surgical centers, clinics, and home healthcare settings. Each end-user category represents distinct environments where IV therapy is administered, reflecting the diverse needs and preferences of healthcare providers and patients. By analyzing the market through these segmentation lenses, stakeholders can identify key trends, opportunities, and challenges shaping the global landscape of intravenous equipment, informing strategic decision-making and resource allocation in the healthcare industry.
Global Intravenous Equipment Segment Analysis
In this report, the Global Intravenous Equipment Market has been segmented by Type, End-User and Geography.
Global Intravenous Equipment Market, Segmentation by Type
The Global Intravenous Equipment Market has been segmented by Type into IV Catheters, Infusion Pumps, Securement Devices, Administration Sets, Drip Chambers and Others.
The segmentation includes a diverse array of intravenous equipment, catering to the different stages and aspects of IV therapy delivery. Key segments within this categorization encompass IV Catheters, Infusion Pumps, Securement Devices, Administration Sets, Drip Chambers, and Others. Each type plays a crucial role in ensuring the safe and efficient administration of fluids, medications, and blood products to patients, both in hospital settings and during home healthcare.
IV Catheters serve as the primary means of accessing the bloodstream for the infusion of fluids and medications. Infusion Pumps play a vital role in delivering precise volumes of fluids or medications at controlled rates, ensuring accurate dosing and patient safety. Securement Devices help to stabilize IV catheters and prevent dislodgement or movement, minimizing the risk of complications such as infiltration or infection. Administration Sets facilitate the connection between IV catheters or infusion pumps and fluid containers, allowing for the controlled flow of fluids into the patient's bloodstream. Drip Chambers provide a visual indication of the flow rate and volume of fluids being administered, enhancing monitoring and accuracy during IV therapy. The segmentation into these categories provides valuable insights into the diverse range of intravenous equipment available, enabling healthcare providers and stakeholders to make informed decisions regarding the selection and utilization of IV therapy devices in various clinical settings.
Global Intravenous Equipment Market, Segmentation by End-User
The Global Intravenous Equipment Market has been segmented by End-User into Hospitals, Ambulatory Surgical Centers and Others.
The segmentation includes key end-user categories such as Hospitals, Ambulatory Surgical Centers, and Others. Each of these segments represents distinct healthcare environments where IV therapy plays a crucial role in patient care and treatment.
Hospitals stand as the primary end-user segment for intravenous equipment, given their role as comprehensive healthcare facilities equipped to handle a wide range of medical conditions and procedures. Within hospital settings, IV therapy is utilized across various departments and units, including emergency rooms, intensive care units, surgical suites, and general wards, to address diverse patient needs ranging from hydration and medication administration to surgical procedures and critical care management.
Ambulatory Surgical Centers (ASCs) represent another significant end-user category in the global intravenous equipment market. These facilities specialize in providing same-day surgical procedures and outpatient treatments, offering a more streamlined and efficient alternative to traditional hospital-based care. IV therapy plays a vital role in ASCs for pre-operative preparation, intra-operative support, and post-operative recovery, ensuring optimal patient outcomes and satisfaction.
The "Others" category within the end-user segmentation encompasses additional healthcare settings such as clinics, home healthcare settings, long-term care facilities, and infusion centers where IV therapy may be administered. By segmenting the market based on end-users, this report provides valuable insights into the diverse utilization of intravenous equipment across different healthcare settings, enabling stakeholders to tailor their strategies and offerings to meet the specific needs of each segment.
Global Intravenous Equipment Market, Segmentation by Geography
In this report, the Global Intravenous Equipment Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global Intravenous Equipment Market Share (%), by Geographical Region, 2023
North America stands as a prominent region in the global intravenous equipment market, driven by robust healthcare infrastructure, technological advancements, and high healthcare expenditure. The region boasts a mature market characterized by extensive adoption of intravenous therapies across various healthcare settings. Europe follows closely, representing another significant market for intravenous equipment, propelled by a growing elderly population, increasing prevalence of chronic diseases, and favorable healthcare policies. Moreover, Asia Pacific emerges as a rapidly growing market for intravenous equipment, fueled by rising healthcare investments, expanding healthcare infrastructure, and growing awareness about the benefits of intravenous therapy across emerging economies in the region.
Additionally, the Middle East and Africa, along with Latin America, present emerging markets with considerable growth potential for intravenous equipment. Factors such as increasing healthcare expenditure, improving healthcare infrastructure, and a growing focus on enhancing patient care are driving market growth in these regions. By segmenting the global market by geography, this report enables stakeholders to identify regional growth opportunities, understand market dynamics, and devise strategic plans tailored to specific geographical markets, thereby enhancing their competitive edge in the global intravenous equipment industry.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Intravenous Equipment Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunity Analysis
Drivers
- Rising prevalence of chronic diseases
- Growing geriatric population
-
Shift towards home care - The Global Intravenous Equipment Market is experiencing a notable shift towards home care settings, reflecting a growing trend towards patient-centered healthcare and the rising demand for convenient and cost-effective treatment options. As advancements in medical technology and healthcare delivery systems continue to evolve, there is increasing recognition of the benefits of home-based intravenous therapy for managing chronic conditions and post-operative care. This shift is driven by several factors, including the desire for improved patient comfort and quality of life, reduced healthcare costs associated with hospital stays, and the growing availability of home healthcare services and skilled nursing support.
Moreover, the COVID-19 pandemic has further accelerated the adoption of home-based intravenous therapy, as patients and healthcare providers seek to minimize potential exposure to infectious diseases in clinical settings. Home infusion of medications and fluids via intravenous equipment allows patients to receive necessary treatments in the familiar and comfortable environment of their own homes, while also enabling healthcare providers to optimize resource allocation and reduce strain on hospital resources. As a result, manufacturers of intravenous equipment are increasingly focusing on developing user-friendly and portable devices tailored for home use, as well as providing comprehensive support services to ensure safe and effective administration of intravenous therapy outside of traditional healthcare settings. This shift towards home care represents a significant opportunity for growth and innovation in the global intravenous equipment market, as it expands access to essential healthcare services and enhances the overall patient experience.
Restraints
- Stringent government regulations
-
Cost concerns - Cost concerns are a significant factor influencing the dynamics of the Global Intravenous Equipment Market. As healthcare systems worldwide face mounting pressure to contain costs while delivering high-quality patient care, healthcare providers, administrators, and purchasers are increasingly scrutinizing the expenses associated with intravenous equipment. The cost considerations encompass various aspects, including the initial procurement cost of intravenous devices, ongoing maintenance expenses, and the total cost of ownership over the equipment's lifespan. Additionally, concerns about reimbursement rates, healthcare budgets, and cost-effectiveness analyses play a pivotal role in decision-making processes regarding the selection and utilization of intravenous equipment. Healthcare facilities and providers seek to strike a balance between cost considerations and patient safety, efficacy, and quality of care when investing in intravenous equipment, weighing factors such as product durability, reliability, and performance against budgetary constraints.
Moreover, cost concerns extend beyond the direct expenses associated with intravenous equipment to encompass broader economic factors and healthcare system sustainability. In an era of healthcare resource constraints and budgetary limitations, stakeholders aim to optimize resource allocation and maximize value for money across the continuum of care. This necessitates careful evaluation of cost-benefit ratios, comparative effectiveness, and return on investment considerations when investing in intravenous equipment. Additionally, strategies such as standardization, bulk purchasing, group purchasing organizations (GPOs), and value-based procurement approaches are increasingly employed to negotiate favorable pricing, achieve economies of scale, and mitigate cost pressures. By addressing cost concerns proactively and adopting innovative cost management strategies, stakeholders in the Global Intravenous Equipment Market strive to enhance affordability, accessibility, and sustainability of intravenous therapy solutions while maintaining high standards of patient care.
Opportunity
- Development of IV equipment
-
The growing focus on emerging economies - The Global Intravenous Equipment Market is witnessing a growing focus on emerging economies, reflecting the increasing recognition of the importance of access to quality healthcare in developing regions. As economies in regions such as Asia-Pacific, Latin America, and Africa continue to grow and urbanize, there is a rising demand for advanced medical technologies and equipment, including intravenous devices. Governments and healthcare authorities in these regions are investing in healthcare infrastructure development and expanding access to essential medical services, thereby driving the adoption of intravenous equipment.
The growing prevalence of chronic diseases and the aging population in emerging economies are fueling the need for intravenous therapy for various medical conditions. As the burden of diseases such as cancer, diabetes, and cardiovascular disorders rises, there is a greater demand for intravenous equipment to administer fluids, medications, and other therapeutic agents. Manufacturers and suppliers of intravenous equipment are increasingly focusing on expanding their presence in emerging markets, introducing affordable and innovative solutions tailored to the specific needs and preferences of healthcare providers and patients in these regions. This growing focus on emerging economies not only presents significant growth opportunities for the global intravenous equipment market but also contributes to improving healthcare access and outcomes for millions of people worldwide.
Competitive Landscape Analysis
Key players in Global Intravenous Equipment Market include
- 3M
- Baxter
- Becton
- Dickinson and Company
- B. Braun Melsungen AG
- EuroLife Healthcare Pvt. Ltd
- Henry Schein, Inc
- ICU Medical, Inc
- Polymedicure
- Smiths Medical
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Type
- Market Snapshot, By End-User
- Market Snapshot, By Region
- Global Intravenous Equipment Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Rising prevalence of chronic diseases
- Growing geriatric population
- Shift towards home care
- Restraints
- Stringent government regulations
- Cost concerns
- Opportunities
- Development of IV equipment
- The growing focus on emerging economies
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
-
Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global Intravenous Equipment Market, By Type, 2020 - 2030 (USD Million)
- IV Catheters
- Infusion Pumps
- Securement Devices
- Administration Sets
- Drip Chambers
- Others
- Global Intravenous Equipment Market, By End-User, 2020 - 2030 (USD Million)
- Hospitals
- Ambulatory Surgical Centers
- Others
- Global Intravenous Equipment Market, By Geography, 2020 - 2030 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global Intravenous Equipment Market, By Type, 2020 - 2030 (USD Million)
- Competitive Landscape
- Company Profiles
- 3M
- Baxter
- Becton, Dickinson and Company
- B. Braun Melsungen AG
- EuroLife Healthcare Pvt. Ltd
- Henry Schein, Inc
- ICU Medical, Inc
- Polymedicure
- Smiths Medical
- Company Profiles
- Analyst Views
- Future Outlook of the Market