Intravenous Equipment Trends and Forecast
The future of the global intravenous equipment market looks promising with opportunities in the hospitals & clinics, homecare, and ambulatory care center markets. The global intravenous equipment market is expected to reach an estimated $22.8 billion by 2030 with a CAGR of 5.7% from 2024 to 2030. The major drivers for this market are rising prevalence of chronic diseases, surge in geriatric population, growing number of surgical procedures, and on-going advancements in technology.
• Lucintel forecasts that, within the product category, catheter will remain the largest segment over the forecast period due to the increasing number of surgical procedures.
• Within this end use category, hospitals will remain the largest segment due to availability & access to specialized units, such as ICUs, emergency departments, surgical suites, and general wards, where intravenous therapy is largely deployed.
• In terms of regions, North America will remain the largest region over the forecast period due to rising number of surgical procedures, technological advancements and well-developed healthcare infrastructure in the region.
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Emerging Trends in the Intravenous Equipment Market
The intravenous equipment market are reshaping the geography of technological development, safety and patient care. These trends indicate where the action is in the IV therapy market and where the attention is being directed for change.
• Smart Infusion Pumps: Smart infusion pumps are equipped with dose error reduction systems and have monitoring capabilities, hence minimizing medication errors and enhancing patient safety. Such pumps are now a necessity in hospitals as part and parcel of safe administration of intravenous drugs.
• Enhanced IV Catheters: Better IV catheters are made with the goal of greater comfort, lesser chances of infection and easier insertion. Technological improvement in catheter has contributed to gain better patient satisfaction and enhance IV therapy.
• Incorporation with Digital Health Technology: Integration of digital health helps in the remote delivery of services like the monitoring, collection, and administration of IV therapies. This trend improves the quality of patient care by making it possible for healthcare providers to access real-time information and makes it easier to make treatment decisions.
• Emphasis on Affordable Options: The need for cheaper IV apparatus is a response to the quest for cheap healthcare solutions, especially in developing countries. Cost-effective devices serve to integrate safe IV therapy into practice and improve equity of access to care.
• Patient Experience Improvement: Improved comfort features have included improved ergonomics devices and less invasive techniques. Improved comfort level helps in lessening or eliminating patient stress and discomfort thus improving the patient’s feedback towards IV therapy.
Some of these trends include introduction of smart infusion pumps, better IV catheters, integration of digital health, development of effective solutions and improvement of patient comfort. These trends promote the development of new products, enhance safety and effectiveness of existing products while increasing the scope of IV therapies.
Recent Developments in the Intravenous Equipment Market
The recent trends emerging in the intravenous equipment market are indications of technology, safety and patient improvement. These changes are shaping the industry and altering the forces of market.
• Smart Infusion Pumps: The smart infusion pumps come with dose error reduction and real time monitoring features which increase the safety of the patients and less medicine is used. These changes are becoming commonplace in the health facilities, enabling the IV therapy to be more accurate and effective.
• Improved IV Catheters: The new IV catheters target to minimize the pain caused to the patient and also reduce chances of developing the infections. Improved designs and materials enhance the IV therapy experience and increase patient satisfaction.
• Cheap Solutions: Affordable IV solutions address the need for accessible healthcare technologies, in particular in low-resource environments. Such advancements improve the availability for high quality IV therapy and improve patient reach.
• Digital Integration: With digital integration, it is possible to manage IV therapies from a distance monitoring and collection of data. It, therefore, improves patient care by provision of current data which can be used to improve treatment.
• Focus on Patient Comfort: The studies are focused on the design of devices that are more comfortable for patients who undergo intravenous therapy. Ergonomically designed devices and less invasive instruments create less stress for the patient. These enhancements will ensure a better experience of IV therapy overall.
Recent developments namely smart infusion pumps, improved IV catheters, low-cost intravenous delivery systems, digital integration, and consideration for patient comfort are changing the intravenous equipment market greatly. These improvements increase safety, efficacy and availability which influence market growth.
Strategic Growth Opportunities for Intravenous Equipment Market
The envisioning of how various intravenous equipment market is poised for growth opportunities brings the possibilities of growth and innovation and hence diversification of applications. Taking such initiatives can facilitate growth of the market while improving care for the patients.
• Expanding in Emerging Markets: The market within emerging ones is significant as there is an upsurge for advanced IV therapy which offers growth opportunities. This type of context will aid in developing a market and an audience for IV tools and technologies.
• Developing Advanced Infusion Systems: Patients undergoing infusion therapy could benefit from more advanced infusion systems that contain smart technology and are moreover safe which could increase the likelihood of converting potential customers. Investing in technology is one of the ways to counter competition in the IV market.
• Enhancing Patient Comfort: The fact that such devices are ergonomically designed with little or no invasiveness could lead to better patient satisfaction and minimal anxiety. This particular orientation could be a catalyst towards growth of the market as well as enhancing the IV therapy experience.
• Integrating with Telehealth Solutions: It is possible to manage and monitor therapy remotely when IV therapy is combined with telehealth solutions. This integration results in better treatment of patients, and adherence to treatment, and consequently facilitates positive health outcomes.
• Improving Cost-Effectiveness: Addressing the cost of IV products means creating solutions for accessing health care technologies for the poorer sections of the population. These cost-effective solutions will enable wider use of the products and boost penetration into the market.
Foreign market entry, improvement of infusion systems, enhancement of comfort to patients, integration with telehealth facilities, and cost effectiveness initiatives are some of the strategic growth opportunities which are changing the intravenous equipment market. Such opportunities must be capitalized upon to enhance growth of the market as well as improvement of patient care services.
Intravenous Equipment Market Driver and Challenges
Intravenous equipment market is influenced by technology, policies and health system changes. Some of the major drivers and challenges govern the growth of IV and influence their use and new developments.
The factors responsible for driving the intravenous equipment market include:
• Technological Advancements: Incorporation of smart infusion pumps, improved IV catheters, among other technological advancements, enhance both safety and efficacy of therapies. Better intravenous therapy solutions have stimulated the growth of the market owing to these advancements.
• Increased Healthcare Expenditures: The prevalence of diseases and overall health impairment increases the demand for more advanced IV accessories. These demands have brought growth and creativity into the market.
• Regulatory Support: Favorable regulatory measures help promote the entry of new products and technologies associated with IV. Targeted policies aimed at speeding up the approval of new products and new science and innovations promote the stimulation of the market.
• Expansion of Healthcare Infrastructure: The trends of increasing healthcare infrastructure particularly in developing countries weakens the barrier of availability and application of IV apparatus. Enhanced utilization of virtual healthcare services boosts the growth of the market.
• Focus on Patient Safety: The need for the ads and adverts that emphasize enhancement of safety while reducing the errors generated the need for advanced equipment. The acquisitions made with respect to more important concerns that of the safety of the patients aid in the growth and acceptance of the market.
Challenges in the intravenous equipment market are:
• High Initial Costs: When it comes to the high cost of technology, this can be a barrier to conversion, especially in low resource communities. When it comes to cost issues, this is a barrier in achieving the goal of enhancing availability and usage of advanced IV equipment.
• Regulatory Hurdles: Such regulatory visuals are sometimes responsible for slow response in the country. In order to successfully introduce new IV technologies and increase their market presence, companies must overcome these challenges.
• Limited Awareness: Limited awareness and training are detrimental in the appropriate use of advanced IV equipment. In order to ensure the best use of IV therapy and enhance the patient outcomes, education and training for health care professionals is important.
Technological changes, increasing needs for healthcare services, availability of regulatory support, development of healthcare systems, and the safety of patients have been the key factors driving the intravenous equipment market. Some of the features like high costs, regulatory issues and lack of awareness need to be addressed in order to open up the market and ensure patient care. It is essential that these drivers and these challenges are reconciled in order for IV therapy to be progressed and its role in healthcare expanded.
List of Intravenous Equipment Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies intravenous equipment companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the intravenous equipment companies profiled in this report include-
• Becton and Dickinson
• B. Braun
• ICU Medical
• Vygon
• Baxter International
• Teleflex Incorporated
• 3M
• AngioDynamics
• Terumo Corporation
• Poly Medicure
Intravenous Equipment by Segment
The study includes a forecast for the global intravenous equipment by product, end use, and region.
Intravenous Equipment Market by Product [Analysis by Value from 2018 to 2030]:
• Infusion Pump
• Catheter
• Solution And Blood Administration Set
• Securement Device
• Cannula Stopcock
• Needleless Connector
• Others
Intravenous Equipment Market by End Use [Analysis by Value from 2018 to 2030]:
• Hospitals & Clinics
• Homecare
• Ambulatory Care Center
Intravenous Equipment Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Country Wise Outlook for the Intravenous Equipment Market
The intravenous (IV) equipment market owing to technological advancements, growing demand for medical services, and changes in the way patient care is delivered. Such innovations point to significant strides made in improving the safety, practical aspects, as well as results associated with the administration of IVs. Efforts are being made in all major markets like USA, China, Germany, India and Japan.
• United States: As it is in many countries, the recent improvement made on IV equipment in the United States is the smart infusion pump that includes inbuilt safety features such as dose error reduction systems and barcoding among others. These innovations seek to prevent medication errors and protect patients. On top of this, there is an increased attention in the design of IV access devices that are less likely to causes infections and prefer the patient. Some digital health technologies are also added on top of services improving management and monitoring of intravenous therapies.
• China: China has already developed more in the IV equipment market and is working towards increasing the production capacity and quality of IV products. Recently, there has been a move towards more local production of high-end infusion pumps and IV catheters to satisfy the high demand. This is in additional to what the Chinese Government is already doing; which is pouring more investments into healthcare especially in upgrading IV equipment in hospitals and clinics. There are also attempts of providing cheaper alternatives and expanding the regions with good IV devices on the market.
• Germany: The progression of the IV equipment market in Germany is also visible with smart designs being incorporated into IV devices and the scope of safety for patients being improved. More specifically, the application of automated infusion systems and monitoring tools has been growing among the hospitals in Germany.The country’s advanced healthcare system allows it support active and continuing research and development in IV technologies for new and better equipment.
• India: The trend for manufactured IV equipment in the Indian context in the recent past has focused on increasing their reach and lowering their costs. Specifically, there has been the entrance of affordable infusion pumps and intravenous catheters in a bid to cater to all classes of patients. However, there is also a movement for improving the quality of intravenous devices across both the urban and rural health facilities.
• Japan: In the IV equipment niche in Japan there is an emphasis on making innovations that would tremendously improve the level of accuracy and also reduce the physical effects of infusion. Some of the recent technologies applied include infusion systems that have more advanced features especially on dosing accuracy and security.
Features of the Global Intravenous Equipment Market
Market Size Estimates: Intravenous equipment market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Intravenous equipment market size by product, end use, and region in terms of value ($B).
Regional Analysis: Intravenous equipment market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different products, end uses, and regions for the intravenous equipment market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the intravenous equipment market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
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FAQ
Q1. What is the intravenous equipment market size?
Answer: The global intravenous equipment market is expected to reach an estimated $22.8 billion by 2030.
Q2. What is the growth forecast for intravenous equipment market?
Answer: The global intravenous equipment market is expected to grow with a CAGR of 5.7% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the intravenous equipment market?
Answer: The major drivers for this market are rising prevalance of chronic diseases, surge in geriatric population, growing number of surgical procedures, and on-going advancements in technology.
Q4. What are the major segments for intravenous equipment market?
Answer: The future of the intravenous equipment market looks promising with opportunities in the hospitals & clinics, homecare, and ambulatory care center markets.
Q5. Who are the key intravenous equipment market companies?
Answer: Some of the key intravenous equipment companies are as follows:
• Becton and Dickinson
• B. Braun
• ICU Medical
• Vygon
• Baxter International
• Teleflex Incorporated
• 3M
• AngioDynamics
• Terumo Corporation
• Poly Medicure
Q6. Which intravenous equipment market segment will be the largest in future?
Answer: Lucintel forecasts that catheter will remain the largest segment over the forecast period due to the increasing number of surgical procedures.
Q7. In intravenous equipment market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to rising number of surgical procedures, technological advancements and well-developed healthcare infrastructure in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the intravenous equipment market by product (infusion pump, catheter, solution and blood administration set, securement device, cannula stopcock, needleless connector, and others), end use (hospitals & clinics, homecare, and ambulatory care center), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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