IV equipment : Rising Demand for Ambulatory Infusion Pumps Due to the Growing Home Care Market

IV Equipment Market

Pune, India, 2020-Aug-14 — /EPR Network/ —

Intravenous (IV) therapy devices are used to administer liquid substances directly into a vein. They can deliver nutrients or medications such as insulin or other hormones, antibiotics, chemotherapy drugs, and pain relievers. Presently, many companies are developing various infusion devices capable of being integrated with alarm devices, monitoring devices, and data exchange systems. This integration helps prevent an overdose or reduced dose of infusion solutions to patients and minimizes dosing errors. Major players in the market are focusing on achieving system interoperability of the IV equipment such as infusion pump with EHR technology. The base year considered for the study is 2016, and the forecast has been provided for the period between 2017 and 2022.

According MarketsandMarkets, a new market research report – [166 Pages Report] The overall IV equipment market is expected to grow from USD 10.07 billion in 2017 to USD 13.64 billion by 2022, at a CAGR of 6.2% from 2017 to 2022.

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The risk of chronic diseases increases with age. Among the geriatric population, the prevalence rate of chronic diseases is 64 per 1,000 persons. According to WHO, the global share of the geriatric population (aged 65 years or above) increased from 7.3% in 2005 to 8.7% in 2017 and is expected to continue to grow as a proportion of the world population, reaching 9.3% by 2020. This unprecedented growth in the aging population across the globe has also resulted in an increased burden on the healthcare industry. The rising incidence of chronic diseases, mainly due to the increasing aging population, and the growing use of IV therapy in their treatment are expected to drive the growth of this market in the coming years.

The following are the major objectives of the study. 

  • To define, describe, and forecast the global IV equipment market on the basis of product, end user, and region
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, challenges, and trends)
  • To strategically analyze micromarkets1 and subsegments with respect to individual growth trends, future prospects, and contributions to the overall market
  • To analyze the opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders
  • To forecast the size of the IV equipment market, with respect to four main regions—North America, Europe, Asia-Pacific, and the Rest of the World
  • To profile the key players and comprehensively analyze their core competencies2 in terms of key market developments, product portfolios, market share analysis, and financials
  • To track and analyze competitive developments such as agreements, collaboration, acquisitions, product launches, and R&D activities of leading players in the global IV equipment market

Intravenous (IV) therapy devices are used to administer liquid substances directly into a vein. They can deliver nutrients or medications such as insulin or other hormones, antibiotics, chemotherapy drugs, and pain relievers. These devices offer significant advantages over manual fluid administration, including the ability to deliver fluids in very small volumes and at precisely programmed rates or automated intervals. These devices are also used for blood transfusion.

The IV equipment market has been segmented, on the basis of product into IV catheters, administration sets, infusion pumps, securement devices, stopcocks & check valves, drip chambers, needleless connectors, and other IV equipment. The market for securement devices is expected to grow at the highest CAGR between 2017 and 2022. Increasing adoption of central venous catheter securement devices and peripheral IV catheter securement devices during IV therapy owing to the advantages such as water resistant and can be repositioned upon initial application.

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Geographically,the IV equipment market in APAC is expected to grow at the highest CAGR during the forecast period. The demand for IV equipment and accessories in the APAC region is majorly driven by factors such as the large population base in the region, rising geriatric population, rising incidence of chronic diseases, improving accessibility to advanced healthcare facilities, rising healthcare spending, growing penetration of health insurance, increasing demand for advanced technologies, growing investments in emerging APAC countries by key market players, and expansion of private-sector hospitals to rural areas.

Major Market Developments :

  • In 2015, Becton, Dickinson and Company acquired CareFusion Corporation (US). The combination of these two companies’ complementary product portfolios offered integrated medication management solutions and smart devices, including infusion pumps.
  • In 2017, BD launched a new IV medication safety solution at the European Association of Hospital Pharmacists (EAHP, Cannes) congress to improve patient safety. This product is designed to prevent medication administration errors.
  • In October 2017, ICU Medical, Inc. acquired Pfizer’s Hospira infusion systems (HIS, U.S.) business segment with a comprehensive portfolio of complete IV therapy from pumps to solutions.

Leading Companies

Some of the prominent players in the global IV equipment market are Becton, Dickinson and Company (U.S.), B. Braun Melsungen AG (Germany), Baxter Interanl Inc. (U.S.), Fresenius SE & Co. KGaA (Germany), ICU Medical, Inc. (U.S.), Smiths Medical (U.K.), C. R. Bard, Inc. (U.S.), Terumo Corporation (Japan), Moog, Inc. (U.S.), and AngioDynamics, Inc. (U.S.). These players adopted both organic as well as inorganic strategies such as product launches and enhancements, collaborations and agreements, acquisitions and grant to sustain in this market.

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