High prevalence of blood-borne diseases among healthcare centers, and growing awareness about the benefits of safety devices are likely to propel the growth of the global peripheral IV catheters market.
According to the latest Arizton's market research report, the peripheral IV catheter market size to reach USD 2.3 billion by 2025, growing at a CAGR of approximately 4% during the forecast period.
Peripheral IV Catheter Market Growth Analysis
The demand for safety IV catheters is growing due to the high incidence of needlestick injuries (NSIs) caused due to unsafe injection practices in healthcare settings. High prevalence of blood-borne diseases among healthcare centers, and growing awareness about the benefits of safety devices are likely to propel the growth of the global peripheral IV catheters market in the coming years. Government regulations for the use of safety needles and syringes have helped in spreading awareness about the advantages of these devices, which has driven the growth of the peripheral IV catheter market. Many emerging countries are witnessing a surge in demand for both basic and advanced healthcare services. Therefore, the increasing demand for medical devices, including PIVCs, and other infusion sets is boosting the peripheral IV catheter market in emerging economies.
What’s Trending in the Market?
- Short safety peripheral IV catheters are used for 72- 96 hours only. This short time usage reduces the infection probability. Hence, they are preferred by caregivers on a large scale and is expected to drive the market growth.
- According to the IDF 2017 estimates, the number of people with diabetes is expected to reach roughly 939 million by 2045.
- The rising incidence of chronic diseases has contributed to the growth of peripheral IV catheter market globally. As the chronic disease leads to increasing hospital admission and usage of PIVCs for drug, nutrient delivery, and for blood sampling.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by products, technology, end-users, and geography
- Competitive Landscape – 7 Key Company Profiles and 11 Other Prominent Vendors
Is North America Leading the Peripheral IV Catheter Market?
The US is the major revenue contributor in the North America peripheral IV catheter market and accounted for a share of over 93%, and Canada accounted for a share of 7% in 2019. Healthcare professionals and patients are looking to reduce the incidence of NSIs, bloodstream infections, and other complications associated with the PIVCs and increasingly opting for other safety and advanced vascular access devices. In addition, increasing accidents and blood donation campaigns are also contributing to the increasing usage of PIVCs in the region.
Who are the Top Players in the Peripheral IV Catheter Market?
The peripheral IV catheter market key players are BD, Smith Medical, Vygon, B. Braun Melsungen, Teleflex, Terumo, and Shanghai Puyi Medical Instruments. These companies have a wide geographic footprint, diversified product portfolio, and a strong focus on innovation and research activities. Players are offering conventional as well as safety PIVCs and are competing with each other based on factors including cost, safety features, convenient use, marketing strategies, and distribution channels. Many local vendors are offering a wide range of products with similar specifications at lower prices, which has resulted in a price war among the vendors. The major vendors are continuously competing among themselves for the leading position in the peripheral IV catheter market, with occasional spurts of competition coming from other local vendors.
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