The global IV catheters market size was valued at USD 4.93 billion in 2023 and is expected to reach USD 6.63 billion by 2029, growing at a CAGR of 5.04% during the forecast period. The global market is growing steadily owing to the rising hospitalization rates, increased prevalence of diseases among the target population, and chemotherapy procedures requiring IV catheters to deliver medication, nutrition, and fluids to patients. The global IV catheters market is influenced by the increase in hospitalizations and the prevalence of acute and chronic diseases among people. Other factors such as technological & material advancements, introduction of new products, well-developed healthcare infrastructure, extensive research & development activities, presence of leading key vendors, and government support also contribute to the growth of the global market.
MARKET TRENDS & DRIVERS
Technological Advancements in CIVCs
The global central IV catheter market is witnessing many technological innovations in tip design, material usage, delivery mechanism, and safety. Vendors offer advanced needles capable of withstanding high pressure and compatible with power injectable systems. They are also making design and material improvements in IV catheters to reduce the patient’s discomfort and bloodstream infection, which will likely propel the market growth during the forecast period.
Rising Demand For Multi-Lumen IV Catheters
Using multi-lumen central venous catheters provides many advantages for patients requiring frequent intravenous medications, blood product transfusions, laboratory tests, and parenteral nutrition. Using advanced technology multi-lumen catheters has reduced the risk of infections and benefited patients and end-users. Hence, vendors generally focus on offering CIVCs with multi-lumen access, increasing their demand in the global market. The rise in demand for multi-lumen CVCs has inspired many vendors to develop them to gain traction, improve sales volume profit margins, and extend their market presence. Vendors are offering multi-lumen catheters to increase efficiency, deliver multiple contents at a time to patients, and minimize catheter insertions. This increasing vendor offering for safe multi-lumen catheters has reduced the risk of infections and has been preferred by the end-users, which drives the global central IV catheter market.
INSIGHTS BY PRODUCT
The global IV catheters market by product is segmented into peripheral IV catheters and central IV catheters. The adoption of PIVCs is growing across the world due to the increasing hospital and intensive care admissions attributed to the rising aging population associated with various chronic and lifestyle diseases. Rising awareness about advanced visualization technologies that help properly insert PIVCs and reduce complications is a major contributor to adopting PIVCs. Furthermore, PIVCs are widely used in emergency services for extending support to patients with trauma or accidents. Technological advancements in intravenous catheters lead to the development of safety PIVCs, further boosting the growth of the PIVCs market. Such factors have helped the PIVCs segment to hold the most significant share of the global IV catheter market.
INSIGHTS BY PRODUCT- PIVCS
The global peripheral IV catheters market by product is segmented into short PIVCs and midline PIVCs. The short PIVCs are the most widely used medical devices across various healthcare settings. The insertion of short PIVCs is one of the most performed invasive techniques in acute care settings. Such factors have helped the short PIVCs to dominate the segmental share. However, the midline PIVCs segment is projected to grow with the fastest CAGR during the forecast period in the global PIVCs market. The major advantages of midline PIVCs include lower phlebitis rates than peripheral catheters and lower infection rates than central catheters. Midline catheters allow safe access without getting dislodged and provide a better option for physicians wanting to administer medications but not wanting to have extravasation occur.
INSIGHTS BY TECHNOLOGY – PIVCS
The global peripheral IV catheters market by technology is segmented into conventional PIVCs and safety PIVCs. The conventional PIVCs segment dominates the global PIVCs market and is expected to continue the trend during the forecast period. Conventional PIVCs are simple, inexpensive IV lines used for short-term intravenous therapy. These PIVCs allow safe infusion of medications, hydration fluids, blood products, and nutritional supplements. These devices help to provide treatments that cannot be administered or are less effective when given by alternative routes. Some drugs are better or more effective on intravenous administration owing to the drugs’ rapid onset or increased bioavailability. Such therapies have increased the demand for conventional PIVCs.
INSIGHTS BY PRODUCT – CIVCS
The peripherally inserted central catheter (PICC) product segment holds the most prominent share of the global central IV catheters market in 2023. The PICC segment market is growing faster due to the rising awareness regarding healthcare and increasing concern for needlestick injuries and rising bloodborne infections among users. The rise in the number of hospitalizations due to various reasons globally increases the demand for the PICC. Furthermore, the demand for PICCs is also increasing as they avoid needle stick injury and are used for long durations that avoid multiple pricks or insertions and site infections, with fewer chances of contamination as they are placed peripherally in the central vein. In addition, PICCs allow chemotherapy treatment for weeks to months and even for years. Therefore, they are preferred by the end-users and the patients for quality care.
INSIGHTS BY DESIGN – CIVCs
By design, the global central IV catheters market is segmented as single lumen, double lumen, and multi lumen. In 2023, the single lumen segment accounted for the largest market share. The market is growing steadily and will likely continue during the forecast period. The single lumen CIVCs provide single access to the central vein for intravenous therapy. Further, as these catheters provide single access, they are used only for infusion. The patients using CIVCs require frequent blood sampling as a part of their treatment. This increases needle usage for withdrawing blood samples, which results in increasing pain through needle prick. These single lumen catheters are useful for patients who require medical care for a short period and single intravenous fluids. The increasing number of chronic diseases and hospital admissions are expected to boost the demand for single-lumen catheters in the upcoming years. Moreover, the end-users prefer single lumen catheters for patients who require intravenous therapy for the short term, as they are single lumen, and only one fluid or drug can be infused using them.
INSIGHTS BY USAGE – CIVCS
The global central IV catheters market by usage is segmented into acute use and intermediate & long use. In 2023, acute use dominated the market share and is projected to grow significantly during the forecast period. The acute use market is growing at a faster rate due to the increasing hospital admissions for short-term medication. Vendors such as AngioDynamics, Teleflex, B. Braun Melsungen, Vygon, COOK MEDICAL, and other prominent vendors offer a wide range of CIVCs products for acute care. They also offer advanced CIVCs such as power injectable PICCs, reverse taper, and antimicrobial coated CIVCs, which are expected to drive the demand among end-users and further boost the CIVCs market during the forecast period in the global market.
INSIGHTS BY END-USER
The global IV catheters market by end-user is segmented into hospitals, ambulatory surgical settings, homecare settings, and others. The hospital segment is the major revenue contributor to the global market. All hospitals and clinics use IVCs to withdraw blood or fluid samples and administer drugs and chemotherapy. In recent years, the use of multi-lumen catheters in emergency and inpatient settings for blood collection through IV lines and drug administration has become popular due to the higher efficiency associated with these CIVCs. Further, the modification in the healthcare sector has initiated the use of a diverse range of central IV catheters, such as PICCs, CVCs, and implantable ports. The market is witnessing the growing adoption of advanced CIVCs to minimize the risk of infections. Central venous catheters such as PICCs are used for short-term, which helps reduce infection rate and needle prick injury. Using advanced and safe CIVCs ensures protection against microbes, thereby reducing the chances of infection.
North America was the largest geographical segment of the global IV catheters market, with a share of over 33% in 2023. There has been a growing rate of infectious and chronic illnesses such as heart diseases, cancer, and others due to population growth, which, in turn, is increasing the need for PIVCs in the region. North America has advanced hospital infrastructure that focuses on avoiding risks of infection and cross-contamination by opting for PIVCs such as closed/integrated IV catheters and midline catheters. Further, there is high awareness regarding PIVCs and their associated complications, so the adoption of safety PIVCs is increasing rapidly in the region.
The IV catheters market in Europe is growing significantly and is expected to continue during the forecast period. The increasing incidence of chronic diseases such as cancer, coupled with improved healthcare infrastructure, is accelerating the demand for CIVCs. Moreover, the increasing awareness about the availability of advanced anti-infective and antimicrobial coated catheters for drug administration, nutrition, blood samples, and chemotherapy in Western European countries is also driving the growth of the CIVCs market in the region. Furthermore, the APAC is projected to witness the highest CAGR in the global IV catheters market during the forecast period. The healthcare system in APAC is undergoing a rapid transformation with favorable support from various government organizations. In APAC, China, Japan, India, South Korea, and Australia were the major revenue contributors to the IV catheter market. Although the penetration of advanced IV catheters in the region is much lower than that in the developed economies, the APAC region has immense growth potential for adopting and using these products during the forecast period.
With growing advancements and the need to reduce needlestick injuries, vendors are offering safety PIVCs and conventional PIVCs, competing based on cost, safety features, convenient use, marketing strategies, and distribution channels. The global IV catheter market vendors include BD, Smith Medical, Vygon, B. Braun Melsungen AG, Teleflex, Terumo, and Shanghai Puyi Medical Instruments. Further, though major players dominate the global IV catheters market, other players also focus on continuously developing low-cost and conventional PIVCs. In addition, a few regional companies are also coming into existence with innovative products and technologies. For instance, retrieving needles automatically after usage by retractable technologies is gaining traction among end-users.
Vendors, especially global players, are increasingly pursuing inorganic growth strategies such as acquisitions and strategic partnerships to expand their presence, enhance their product portfolio, and improve their expertise in the market. For instance, Smith’s Medical acquired Access Scientific, a broad-spectrum vascular access and infection prevention company that manufactures POWERWAND midline and extended dwell catheters.