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Global Peripheral Intravenous Catheter Market Projected to touch US$20,073.0 Mn by 2023

Dec 26th 2018 at 2:40 AM

Peripheral intravenous catheters are medical devices used to infuse fluids and medication directly into the veins of a human body or draw blood samples for testing purpose. Peripheral intravenous catheters are inserted into the patient’s body using a needle which can be removed once the catheter is in place. Thereafter, a peripheral intravenous catheter can be attached to the patient skin by using medical adhesive tape.

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This report covers the global peripheral intravenous catheter market performance in terms of revenue contribution. The report includes key trends, drivers, restraints, and opportunities influencing the growth of the global peripheral intravenous catheter market. Impact analysis of key growth drivers and restraints, based on the weighted average model, is included in this report to better equip clients with crystal clear decision-making insights.

The global peripheral intravenous catheter market is mainly driven by factors such as increasing the number of diseases and infection among people, enhancement in peripheral IV catheter technology and increasing per capita healthcare expenditure. Complications arising from peripheral intravenous catheter application including blood exposure and needlestick injuries, and the high cost of advanced peripheral IV catheter in emerging regions such as APEJ and MEA are expected to hamper the growth of the peripheral intravenous catheter market.

By product, revenue from the integrated/closed peripheral intravenous catheter segment is projected to expand at the highest CAGR of 8.9% during the forecast period.

By product, short peripheral intravenous catheter segment is expected to dominate the global peripheral intravenous catheter market, accounting for the maximum share of the overall market by 2021. Short peripheral segment revenue is projected to expand at a CAGR of 4.9% during the forecast period (2015–2021).

By technology, the safety peripheral intravenous catheter segment is estimated to dominate the peripheral intravenous catheter market, accounting for a maximum share of the overall market by 2015 end. Revenue from safety peripheral segment is projected to expand at a CAGR of 7.1% during the forecast period.

On the basis of products, peripheral intravenous catheter market is segmented into the short peripheral intravenous catheter and integrated/closed peripheral intravenous catheter. Short peripheral intravenous catheter segment is further sub-segmented into ported peripheral IV catheter and non-ported peripheral IV catheter. By end-users, the peripheral intravenous catheter is segmented into hospitals, ambulatory surgical centers, clinics, home use, and others.

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In terms of value, North America dominated the market with over 45% market share in 2014, followed by Europe. Peripheral intravenous catheter market in Asia-Pacific region is projected to expand at highest CAGR of 6.7% during the forecast period.

Key players in the global peripheral intravenous catheter market are Becton Dickinson and Company, B. Braun Melsungen AG, Smith Medical, Terumo Corporation, C. R. Bard, Inc., Tangent Medical, and Vygon Group. Leading players operating in the peripheral intravenous catheter market are collaborating with other key healthcare solutions and services providers in order to advance their operational efficiencies and provide improved patient care.

The peripheral intravenous catheter market is segmented as follows:

By Product:

  • Short Peripheral Intravenous Catheter
    • Ported Peripheral Intravenous Catheter
    • Non-ported Peripheral Intravenous Catheter
  • Integrated/closed Peripheral Intravenous Catheter

By Technology:

  • Conventional Peripheral Intravenous Catheter
  • Safety Peripheral Intravenous Catheter

By End Users:

  • Hospitals
  • Ambulatory Surgical Centers
  • Clinics
  • Home Use
  • Others

By Region:

  • North America
    • U.S.
    • Canada
  • Latin America
    • Mexico
    • Brazil
    • Rest of Latin America
  • Europe
    • Germany
    • Italy
    • France
    • U.K.
    • Spain
    • Rest of Europe
  • Asia pacific
    • China
    • India
    • Japan
    • Australia
    • Rest of Asia Pacific
  • MEA
    • GCC Nations
    • South Africa
    • Rest of MEA

Key features of this report

  • Drivers and restraints of the peripheral intravenous catheter market
  • Latest product innovations and key developments in the market
  • Analysis of business strategies of the top players
  • Peripheral intravenous catheter market estimates and forecasts

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Global Peripheral Intravenous Catheter Market Projected to touch US$20,073.0 Mn by 2023

Jan 22nd 2019 at 4:53 AM

Peripheral intravenous catheter is a sophisticated medical device widely used to deliver certain fluids, especially medicines, into a patient’s body through a vein. It is a critically important part of a medical treatment procedure that facilitates drug delivery through an intravenous route. It can also be used in body fluid collection for a patient’s physical examination. PIVC is considered ideal for easy, direct administration of antibiotics, IVs, analgesics, and psycoleptics. It plays a vital role in prevention of blood-borne pathogenic infections. These attributes are currently driving the market for peripheral intravenous catheter on a global level.

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Global peripheral intravenous catheter market will see steady growth over the next few years. The market is predicted to expand at a CAGR of 6.1% over 2016-2021. The revenues are estimated to reach US$ 5.22 Bn by the end of 2021.

Increasing disease prevalence and rising incidences of infection will continue to spur the demand for catheterisation in hospitals, healthcare centres, ambulatory surgical centres, clinics, and home healthcare units.  Soaring frequency of disease epidemics is anticipated to generate substantial demand for peripheral intravenous catheters in order to accomplish patient examination, diagnosis, and treatment. This is likely to include a larger share of PIVCs, compared to other catheters.

Increased spending on healthcare and advancements in healthcare infrastructure will continue to hold a positive influence on market growth. Moreover, the advent of PIVC technology will further boost the sales. Rising ability to afford expensive medical treatments, such as catheterization, will remain a key driver to market growth. User-friendly material composition of peripheral intravenous catheters compared to other counterparts, is another factor that makes them a preferred choice among physicians as well as patients.

Technological innovations in catheterization technique are also expected to propel the demand for peripheral intravenous catheters. Growing usage of non-irritant, harmless, and user-friendly materials in manufacturing of PIVC can reportedly eliminate associated ill effects and risks, extending the expected PIVC access. Moreover, manufacturers have already started improving PIVC design to overcome the complications associated with previous designs. This is considered to be an important factor influencing the market growth.

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Despite having a wide range of advantages, the PIVC market has to face certain technological and qualitative complications, as well as price restraints. Higher costs and reported complications and ill effects of PIVC, such as needle-stick injuries and exposure of blood, may remain a longstanding barrier to mass adoption of peripheral intravenous catheter in near future. Unaffordable catheterisation procedure can hamper PIVC penetration in developing markets in Asia Pacific, Middle East and Africa, and Latin America. Conventional PIVC sales is likely to witness a significant drop owing to stringent regulatory measures related to medical devices in some regions, including EU, Japan, China, Brazil, and Russia.

On the basis of product, the global peripheral intravenous catheter market is segmented into the short peripheral intravenous catheter and integrated/closed peripheral intravenous catheter. Short PIVC segment is sub-segmented into ported peripheral IV catheter and non-ported peripheral IV catheter, and will dominate market with nearly 67% value share, expanding at a moderate CAGR over 2016-2021. However, integrated/closed PIVC segment will witness the highest CAGR of 5.5% during the forecast period.

Based on technology, safety PIVC segment is estimated to dominate the market, accounting for the largest revenue share by 2021 end. This segment will witness a promising CAGR during the forecast period, attributed to user-friendly material composition and extended access.

Hospitals Continue to Generate Highest Demand for PIVC, Followed by Ambulatory Surgical Units

By end-user, the global market for peripheral intravenous catheter is segmented into hospitals, ambulatory surgical centres, clinics, home use, and others. Hospitals segment is expected to register the highest revenues by the end of 2021, accounting for a dominating market share. Ambulatory surgical centres segment is likely to remain the second-largest segment, contributing significantly to the entire market revenues.

North America Remains the Largest Shareholder, Asia Pacific Witnesses the Fastest Growth

North America will continue to represent over 45% of the entire market value, reaching the revenues of around US$ 2.37 Bn over 2016-2021. Europe is expected to remain the second largest regional market. APAC will demonstrate the fastest growth rate over the assessment period. This growth is primarily due to burgeoning geriatric population and increasing healthcare expenditure.

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Key companies in the global peripheral intravenous catheter market are B. Braun Melsungen AG, Becton Dickinson and Company, Vygon Group, C. R. Bard, Inc., Smith Medical, Tangent Medical, and Terumo Corporation. B. Barun recently featured one of their latest product advancements - Ster-ASSIST™ i.e. Sterile Peripheral IV Catheter Insertion Kit (30th Association for Vascular Access (AVA) Annual Scientific Meeting).

About MRRSE

Market Research Reports Search Engine (MRRSE) is an industry-leading database of Market Research Reports. MRRSE is driven by a stellar team of research experts and advisors trained to offer objective advice. Our sophisticated search algorithm returns results based on the report title, geographical region, publisher, or other keywords.

MRRSE partners exclusively with leading global publishers to provide clients single-point access to top-of-the-line market research. MRRSE’s repository is updated every day to keep its clients ahead of the next new trend in market research, be it competitive intelligence, product or service trends or strategic consulting.

Contact Us

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Suite 700
Albany, NY – 12207(United State)
United States Telephone: +1-518-730-0559(Toll-free – USA & Canada)
Email: sales@mrrse.com

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