Global Intravenous Catheter Market to Grow at a CAGR of 5.04% during 2023 to 2029

According to the latest report by focus reports by Arizton, the Global IV catheters market 2024 – 2029 sheds light on the dynamic and rapidly evolving industry. The comprehensive report unveils valuable market trends, growth opportunities, and the competitive landscape of the business. With in-depth analysis and meticulous research, this report serves as a strategic guide for industry players, investors, and decision-makers, offering a comprehensive understanding of the current Global intravenous catheters market dynamics and prospects.

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The global intravenous catheters market was valued at $4.93 billion in 2023 and is projected to reach $6.63 billion by 2029, growing at a CAGR of 5.04% during the forecast period. The market is growing steadily due to factors such as 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 intravenous catheters market is influenced by the increase in hospitalizations and the prevalence of acute and chronic diseases among people.

Advances in Technology to Boost the Global Safety Peripheral Intravenous Catheter Market

Peripheral IV catheters(PIVCs) were the largest market share holder of the global intravenous catheters market in 2023, and 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. Technological advancements in intravenous catheters lead to the development of safety PIVCs, further boosting the growth of the PIVCs market. Safety PIVCs are used in several healthcare settings, such as hospitals, clinics, and ambulatory centers. Earlier, anesthesiologists resisted the use of safety IV catheters for various reasons. Several anesthesiologists expressed their concern regarding safer equipment that may compromise patient safety. However, with the growing advancements in safety PIVCs, anesthesiologists are constantly adopting IV catheters for hospitalized patients. Safety PIVCs are costlier than conventional PIVCs. However, with growing favorable policies and reimbursement initiatives by the government, the cost of safety PVCs is likely to decrease. This is further increasing the adoption of safety PIVCs in medical settings.

With the growing demand for safety peripheral IV catheters, major vendors such as ICU Medical (Smiths Medical), B. Braun Melsungen AG, and others have gained significant attention due to their products. Smiths Medical offers various safety PIVCs, such as ViaValve Safety IV Catheters and PROTECTIV Safety IV catheters. B. Braun Melsungen AG, a leading manufacturer of PIVCs, offers safety PIVCs such as Introcan Safety 3, Introcan Safety W, Introcan Safety, and Introcan Safety Deep Access. Nipro also offers various safety PIVCs, including Safety IV Catheter PUR and Safety IV Catheter Wings PUR.

Surge in Population in APAC Region Driving the Demand for IV Catheters Market

The healthcare system in the APAC region is undergoing a rapid transformation with favorable support from various government organizations. According to WHO, the increase in healthcare expenditure has contributed to improvements in healthcare infrastructure in the APAC region. In addition, healthcare providers are focused on providing advanced care to patients, as there is an increase in chronic diseases.

In APAC, India is the fastest-growing global IV catheter market during the forecast period. Various chronic diseases are fueling the hospitalization rates among the Indian population. These include cardiovascular diseases, stroke, respiratory diseases, tuberculosis, COPD, diabetes, and others. Some of the most commonly occurring chronic conditions in India include asthma, diabetes, high blood pressure, high cholesterol, and others. Such conditions increase the need for hospital PIVCs to provide medications and fluids. There is increasing adoption of safe PIVCs due to rising awareness toward needle prick injuries, and other blood-borne infections caused using non-safety PIVCs. Moreover, various government bodies, vendors, and other key stakeholders have taken several measures to create healthcare awareness among people, accelerating the adoption of these devices and bolstering market opportunities for vendors in the next few years.

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