IV Equipment Market Overview and Introduction

The global IV Equipment Market was valued at US$ 10.0 billion in 2017 and is anticipated to grow at a CAGR of 5.8% during the forecast period. The IV equipment market is majorly classified on the basis of product, end user, and region.

(IV) Intravenous Equipment are medical devices which are used for delivering blood products or fluids directly into the veins of patients. IV Equipment deliver medications faster as compared to other delivery methods since these are inserted directly into the circulation system. Besides faster infusion, IV equipment also offers easy monitoring and simultaneously prevents probable negative effects to the GI system for patients suffering from chronic disorders.

Some of the major factors driving the global IV equipment market are rising number of chronic disorders, growing geriatric population, rising incidences of chronic diseases, increasing number of surgical procedures worldwide, and increased patient awareness among others. Moreover, IV therapy reduces intake of pills or tablets, thereby promoting its preference among patients. However, side effects associated with equipment and medication errors like incorrect dosing is may hamper the market to a certain extent.

IV Equipment Market by Product

In terms of product, IV equipment market is classified into IV catheters, infusion pumps, stopcocks & check valves, needleless connectors, administration sets, securement devices, drip chambers and other IV equipment. Securement devices segment held larger share of the market in 2018 owing to maximum adoption of peripheral IV catheter devices and central venous catheter devices.

Technological advancements in catheter securement devices are also expected to augment its demand in the coming years. IV Equipment offer minimal infection risk, pain, and trauma to the patients. In addition, introduction of fixation devices which overcome drawbacks of traditional devices are also gaining popularity owing to its advantages like safe and fast performances.

According to NHS, more than 1 million catheters are used annually, in UK which accounts for approximately 12% of hospitalized patients. It is further anticipated that, one in three individuals are diagnosed with one or more chronic disorders, which directly increments the need for securement devices. Hence growing use of catheters due to increased hospitalization and rising incidences & prevalence of chronic disorders are anticipated to significantly contribute to the growth of the global IV equipment during the forecast period.

IV Equipment Market by End Users

By end user, IV equipment market is categorized into hospitals & clinics, ambulatory care centres, & home care, and other end users. Hospitals and clinics segment registered significant share of the market in 2018 owing to favourable government regulations, well developed infrastructure and increasing number of patient hospitalizations among others.

According to Journal of Hospital Medicine, across 51 countries around the world, approximate 14% hospitalized patients required peripheral intravenous catheters. Hospitals & clinics have abundant medical devices in store for use by large number of patients. Hence, growing patient pool is anticipated to further drive the hospitals and clinics segment during the forecast period.

IV Equipment Used Home care segment is also expected to grow considerably during the forecast period owing to rising demand of home treatments by patients worldwide. Home care provides optimal treatment to patients with better comfort, minimal risk of HAI (Hospital Acquired Infections) and improved personal care among others.

IV Equipment Market by Regions

Geographically, IV equipment market is segmented as North America, Europe, Asia Pacific, and Rest of the World (ROW). North America accounted for the major market share in the global IV equipment market owing to growing geriatric population, high prevalence of chronic disorders, and well-established hospital infrastructure.

Europe is also expected to grow considerably over the forecast period owing to rising elderly population, substantial disposable income, and rising admissions in hospitals. IV Equipment used in Surgical operations in Europe has been rising at a significant pace. In 2016, approximate 1.32 million surgeries were performed in Europe.

Asia Pacific is expected to grow lucratively in the forthcoming years owing to growing geriatric population prone to several disorders, steady adoption of advanced medical devices, and growing spending power of consumers. Moreover, growing medical tourism in Asia Pacific is anticipated to further propel the growth of the market in the coming years.

IV Equipment Market Prominent Players

The prominent players in the global IV equipment market are BD, B. Braun Melsungen AG, Baxter, Fresenius SE & Co. KGaA, ICU Medical, Inc., Smith Medical (Smiths Group plc.), TERUMO CORPORATION, MOOG INC., AngioDynamics, and Medline Industries, Inc.