Peripheral Intravenous Catheters Market to Exceed Valuation of USD 7,964.4 Million by 2028

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The Peripheral Intravenous (IV) Catheters market is anticipated to experience a 6.2% growth rate in terms of value, increasing from USD 4,889.5 Million in 2020 to an estimated USD 7,964.4 Million by 2028. These catheters, used for vascular access, enable the direct administration of drugs


Market Overview

The Peripheral Intravenous (IV) Catheters market is anticipated to experience a 6.2% growth rate in terms of value, increasing from USD 4,889.5 Million in 2020 to an estimated USD 7,964.4 Million by 2028. These catheters, used for vascular access, enable the direct administration of drugs into the bloodstream, ensuring rapid action.

Peripheral IV catheters find widespread use in surgical, emergency, and specific patient populations, such as those unable to swallow medications, unconscious individuals, pediatric patients, and the elderly. The demand for IV therapy is rising, driven by the need to deliver essential nutrients to the body through nursing interventions.

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Global health expenditures have surged, leading to improved health infrastructure worldwide, according to the World Health Organization (WHO). The aging population is projected to increase from 12% to 22% of the total global population from 2015 to 2050, resulting in a higher incidence of chronic diseases and cancer. This trend, coupled with increased healthcare spending globally, supports the adoption of user-friendly medical technologies.

Despite these positive trends, the market faces challenges due to the high costs associated with peripheral IV catheters, potentially hindering growth in the forecast period.

Type Overview:

Short Peripheral Intravenous Catheters (PIVCs) are commonly used for chemotherapy in oncology. These catheters require careful selection, implantation, and management, particularly in oncology applications where patients undergo diverse intravenous catheter treatment courses over several years. The Infusion Nurses Society (INS) has recommended a checklist for short peripheral catheters, emphasizing the need for surveillance systems to monitor infections and complications.

Application Overview:

Peripheral venous catheterization (PVC) is frequently employed in pediatric patients, driven by the increasing prevalence of diseases such as asthma, anemia, diphtheria, chickenpox, measles, and leukemia. Oncology holds a significant market share due to the high impact of cancer globally, with substantial healthcare spending on cancer care in the United States alone.

End-User Overview:

Ambulatory Surgery Centers (ASC) are gaining prominence, providing a convenient alternative for outpatient surgical care. Hospitals and clinics currently dominate the market, attributed to well-resourced facilities, skilled healthcare professionals, and comprehensive health coverage.

Regional Overview:

The Asia Pacific region experiences a surge in surgical procedures, driven by factors such as increased disposable income, rapid medical infrastructure development, and growth in the Medical Tourism industry. North America leads the market, followed by Europe, owing to technological advancements and higher medical expenses.

Market Dynamics:

Peripheral IV catheters are one of the most common clinical procedures globally, with over 300 billion devices inserted annually. Despite their prevalence, complications such as insertion difficulties, infiltration, phlebitis, and catheter-associated bloodstream infections pose challenges. Factors like an aging population and advancements in surgical and treatment technologies propel market growth, while the high cost of closed catheters and the need for skilled professionals act as constraints.

Germany, with a high number of diagnosed diabetes patients, contributes to the demand for peripheral IV catheters. Key market players include Becton, Dickinson and Company, B. Braun Melsungen AG, Smiths Medical, Inc., Tangent Medical Technologies Inc., Terumo Corporation, Teleflex Incorporated, Vigmed AB, Argon Medical Devices, Inc., Medical Components, Inc., and Vascular Pathways Inc.

Competitive Landscape:

Companies in the market have implemented various strategies between 2017 and 2020. Teleflex Inc. received clearance from the US Food and Drug Administration for the commercial launch of the TrapLiner catheter. Mergers and acquisitions, such as Royal Philips' acquisition of CardioProlific Inc., are integral to industry dynamics.

Expert Insights:

The COVID-19 outbreak is seen as an opportunity for market growth, with pharmaceutical companies and research institutes focusing on drug development. New entrants are emphasizing innovative product design to meet growing end-user requirements.

Segmentation:

The report segments the Peripheral Intravenous Catheters market based on type, technology, application, end-users, and region. Types include Short Peripheral IV Catheter and Integrated/Closed Peripheral IV Catheter. Technology categories encompass Safety Peripheral IV Catheter and Conventional Peripheral IV Catheter. Applications include Renal Disease, Oncology, Pediatric Disease, Gastroenterology, and Infectious Disease. End-users consist of Hospitals, Clinics, Ambulatory Surgical Centers, and Home Healthcare. Region-wise, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

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