IV Catheters, Needles, and Syringes Market to Worth $26 Billion by 2023
Arizton’s recent market research report on the IV catheters, needles and syringes market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by product (syringes, needles, and intravenous catheters), by end-users (hospitals and clinics, diagnostic laboratories, ASCs, individuals, and academic & research centers), geography (APAC, Europe, North America, and ROW), and offers detailed competitive analysis.
The IV catheters and syringes market are anticipated reach values of around $26 billion by 2023 and are expected to grow at a CAGR of more than 7% during the forecast period.
The introduction of advanced medical devices and increasing awareness about the self-management of diseases is attributing to the growth of the global IV catheters and syringes market. The rising need for disposable medical products and the development of online retail stores in emerging countries will transform the healthcare industry.
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The top 3 drivers and trends are attributing the growth of the IV catheters and syringes market is discussed below:
Rise in Government Regulations on the Use of Safety Needles
The growing focus on using safety needles is propelling the development of the global IV catheters and syringes market. The implementation of stringent government regulations that ensure the safety of patients and medical professionals across various countries in the global market will create opportunities for leading vendors to launch advanced medical products in the global IV catheters and syringes market. These stringent regulations provide specific guidelines for the use of needlesticks and demands safe handling of these medical products in the healthcare sectors. The safety guidelines also aim to replace the conventional medical devices to avoid injuries and infections in medical facilities. The measures undertaken to ensure medical safety and avoid negligence by the healthcare staff will boost the demand for disposable safety needles in the global market.
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Production of User-Friendly Safety Needles
The establishment of safety guidelines and extensive use of safety needles for performing therapeutic procedures will boost the growth of the global IV catheters and syringes market. The leading vendors are manufacturing safety needles that are user-friendly to attract a higher number of end-users and gain a larger market share. The wide availability of these advanced medical products will help minimize hospital-acquired infections, blood exposure, and needlestick injuries in the healthcare sector in the global IV catheters and syringes market. The introduction of special purpose needles for specific drug deliveries will revolutionize the global healthcare industry. The prominent players are focusing on manufacturing safety needles that enhances the product quality and user interface to the boost the adoption of these products in the global market. Luer-locks attached needles ensure maximum patient and medical professional safety and leak-free transmission during a procedure. The launch of safety needles that meet the quality, usability, and conformance of the products to international standards will help the growth of the global IV catheters and syringes market.
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Increasing Adoption of Home Healthcare Concept
The advancement of the home healthcare concept will augment the demand in the global IV catheters and syringes market. The increasing adoption of home healthcare products for the monitoring of vital signs such as blood pressure, glucose level, and cholesterol level will boost the growth of the global market. The growing requirement for efficient patient monitoring systems will help in creating a demand for IV catheters and syringes in the global market. The integration of technology and healthcare systems will increase the adoption of home healthcare services and reduce the hospital stay and chances of re-admission. The implementation of home healthcare services will help real-time tracking of vitals and health conditions by using fitness trackers and mobile applications. Such developments of medical devices will propel the growth of the global IV catheters and syringes market.
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The leading vendors in the IV catheters and syringes market are Teleflex, Smiths Medical, Terumo, BD, B. Braun Melsungen, Nipro, and AngioDynamics.
The complete overview of the latest market research report on IV catheters 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.
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