The global IV catheters, needles, and syringes market are estimated to reach revenues of about $26 billion by 2023 and are projected to grow at a CAGR of more than 7% during the forecast period.
Arizton’s recent market research report on the IV catheters, needles, and syringes market identifies Teleflex, Smiths Medical, Terumo, BD, B. Braun Melsungen, Nipro, and AngioDynamics as the leading vendors that are likely to dominate the market during the forecast period. This research report provides a detailed analysis of market segmentation by product (syringes, needles, and intravenous catheters), by end-users (hospitals and clinics, diagnostic centers and ASCs, and individuals), by distribution channel (online and retail), and geography (APAC, Europe, North America, and ROW).
The IV catheters, needles, and syringes market are divided into four major segments that include by product, end-users, distribution channels, and geography.
Europe to grow at the fastest CAGR in the IV catheters, needles, and syringes market during the forecast period
The IV catheters, needles, and syringes market by geography is segmented into APAC, Europe, North America, and ROW. Europe occupied the second largest market share in 2017 and is projected to grow at a CAGR of approximately 7% during the forecast period. The growing demand for disposable and safety syringes and needles will boost the growth of the market in this region. The prevalence of good medical practice by medical institutions and medical service providers will boost the adoption of these advanced medical devices in the European market. The rising incidences of chronic diseases, trauma cases, and demand for safety needles under the EU directive legislation are some of the factors driving the growth of the European market. Germany and the UK are the largest revenue generators in the European market. The extensive use of IV catheter technology for the administration of drugs and nutrition samples will propel the growth of the IV catheters, needles, and syringes market in Europe.
Read our latest report on - Syringe and Needle Market - Global Outlook and Forecast 2020-2025
IV catheters to grow at a significant CAGR in the IV catheters, needles, and syringes market during the forecast period
The product segment in the global IV catheters, needles, and syringes market is classified into syringes, needles, and intravenous catheters.
IV catheters are expected to grow at a CAGR of approximately 5% during the forecast period.
The two board sub-segments include open and closed IV catheters. The increasing investments in R&D by leading vendors to enhance the product quality will boost the growth of this segment in the global market. B. Braun, BD, Terumo, and Teleflex are the key manufacturers of IV catheters market. The increasing number of M&A is leading to geographical and product line expansion thereby, boosting the adoption of these products in the global market during the forecast period. The rise in medical tourism will positively impact the growth of the IV catheters market. The extensive use of these products in surgical procedures, emergency cases, pediatric cases, and other medical procedures will contribute to the growth of the global IV catheters, needles, and syringes market.
Hospital and Clinics to occupy largest IV catheters, needles, and syringes market size during the forecast period
The global IV catheters, needles, and syringes market by end-user is divided into hospitals and clinics, diagnostic centers and ASCs, and individuals. Hospitals and clinics dominated over half of the total market share in 2017. The extensive use of conventional medical products such as needles and syringes for drawing patient samples and administration of drugs will propel the growth of this segment in the global market. The introduction of painless monitors and safety needles and syringes will boost the adoption of these devices in the global market. The promotion of self-disease management will promote the use of safety syringes and needles in the global market. The increasing focus on training to minimize accidental blood exposure and sharp object injuries in patients will boost the demand for global IV catheters, needles, and syringes market.
The other prominent players in the IV catheters, needles, and syringes market are Allison Medical, APEXMED International, Argon Medical Devices, Artsana Group, Baxter International, CODAN Medizinische Geräte GmbH, CONMED, Connecticut Hypodermics, Cardinal Health, Catalent, DELTA MED, EXELINT International, Gerresheimer, Hamilton Company, Hi-Tech Medicare Devices, Hindustan Syringes & Medical Devices, ICU Medical, International Medsurg Connection, Merit Medical Systems, MedPro Safety Products, RenovoRx, Retractable Technologies, Ulticare, Unimed, Vetter, Vigmed, Vita Needle Company, Vygon, West Pharmaceutical Services, and Ypsomed Holding.
The complete overview of the latest market research report on IV catheters, needles, and syringes market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
Read our latest report: Peripheral Intravenous Catheters Market - Global Outlook and Forecast 2020-2025
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