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The increasing awareness about disease management is raising growth prospects in the peripheral IV catheter market
ROCKVILLE, MD, UNITED STATES, January 20, 2025 /EINPresswire / -- The global peripheral IV catheter
market is estimated to reach US$ 1,058.6 million in 2024. The market is anticipated to attain a valuation of US$ 1,865.4 million, expanding at a 5.8% CAGR through 2034.
Sales of peripheral IV catheters are expected to increase owing to the increasing geriatric population and rising chronic disorders. Additionally, surging hospitalizations and demand for safety-ported short peripheral intravenous catheters are expanding the market for peripheral IV catheters.
Key players are raising awareness about disease management. The increasing popularity of integrated/closed catheters is further expected to propel market growth.
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Key Takeaways from the Peripheral IV Catheter Market Study
In 2019, the peripheral IV catheter market reached a valuation of US$ 782.1 million. The North America market for peripheral IV catheters is predicted to acquire a share of 73.1% in 2024.
The East Asia market is expected to obtain a value share of 5.8% in 2024. By 2034, the regional market is forecasted to accumulate US$ 192 million. Hospitals are estimated to remain the leading end users of peripheral IV catheters. In 2024, the segment attained a valuation of US$ 762.1 million.
Power injected PICC is projected to be a highly preferred product type. The segment's valuation is predicted to jump from US$ 886.5 million in 2024 to US$ 1,593.8 million by 2034.
”Key players are expected to observe opportunities in high-growth countries of East Asia. Additionally, constant improvements in peripheral IV catheters are predicted to uplift market sales," says a Fact analyst.
Leading Players Driving Innovation in the Peripheral IV Catheter Market:
Key players in the peripheral IV catheter market include Becton, Dickinson, and Company, B. Braun Melsungen AG, Smiths Group plc., Terumo Corporation, Venner Medical, Vygon, Teleflex Incorporated, C. R. Bard, Inc., NIPRO Medical Corporation, and Argon Medical Devices, Inc.
Country-wise Insights
"The United States Acquires a Massive Market Share"
The United States is estimated to account for 88.6% of the North American market in 2024. The US peripheral IV catheter market is expected to grow by $685 million in 2024. The market is expected to reach $1,029 million, with a CAGR of 4.2% through 2034.
The increasing prevalence of chronic diseases, greater health consciousness, the availability of improved catheters, and the growth of surgical operations are all driving the usage of peripheral IV catheters. Furthermore, the increasing rate of hospitalizations is driving up market demand. The reimbursement policies for catheters, such as those offered by the Centers for Medicare and Medicaid Services in the United States, are likely to drive market expansion.
Growth Drivers of the Peripheral IV Catheter Market:
The growth of the Peripheral IV Catheter Market is propelled by several key factors. The rising prevalence of chronic diseases, such as cancer, diabetes, and cardiovascular conditions, has led to an increased need for intravenous therapies, boosting the demand for peripheral IV catheters. Advancements in catheter technology, such as the development of safety-engineered devices to reduce needlestick injuries and infections, are further fueling market expansion.
Additionally, the growing geriatric population, which is more susceptible to requiring hospital care and intravenous treatments, is a significant driver. Increasing healthcare expenditure, improved access to healthcare services in emerging economies, and the growing adoption of minimally invasive medical devices also contribute to market growth. Furthermore, the rising awareness of infection control measures and enhanced patient care standards are creating a favorable environment for the adoption of advanced peripheral IV catheters globally.
Competitive Landscape
Market players are focusing on geographical diversification, partnerships and acquisitions, and distribution channels. Competitors are also concentrating on value propositions like cost-effectiveness, lowered healthcare burden, and better patient outcomes. Other market strategies adopted by key players are sustainability initiatives, compliance excellence, and investments in research and development.
Peripheral IV Catheter Industry News:
Braun Medical Inc. acquired a large number of goods from Starboard Medical in September 2022. These devices are used to secure the peripheral catheter of Clik-FIX.
Shockwave Medical Inc. announced in March 2022 that the Shockwave M5+ peripheral IVL catheter, which has a CE Mark and FDA approval, will be commercially available worldwide.
B. Braun Medical Inc. will commercialize the Introcan Safety 2 IV Catheter with single-use blood control in July 2022. This is B. Braun's latest innovation, which improves IV safety for doctors while lowering the danger of blood exposure and needlestick injuries.
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Check out More Related Studies Published by Fact:
The global cutting balloon catheter market reached a valuation of around US$ 180 Mn in 2020, which amounts to around 5% share of the overall balloon catherization market.
The global normal balloon catheter market is valued at US$ 2.21 billion in 2023. Fact states that worldwide sales of normal balloon catheters are projected to increase at a CAGR of 7% during the next 10 years and reach US$ 4.35 billion by 2033-end.
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Fact is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.
With its unwavering dedication to providing reliable market intelligence, FACT continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.
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