Peripheral Iv Catheters Market Size

Market Outlook:

Peripheral IV Catheters Market size exceeded USD 5.63 Billion in 2023 and is estimated to cross USD 13.61 Billion by 2035, growing at over 12.42% CAGR during 2024 to 2035.

• Base Year Value (2023): USD 5.63 Billion
• CAGR (2024-2035): 12.42%
• Forecast Year Value (2035): USD 13.61 Billion
• Historical Data Period: 2019-2022
• Largest Region: North America
• Forecast Period: 2024-2035

Market Dynamics:

Peripheral IV catheters are widely used in the healthcare industry for the administration of fluids, medications, and blood products. The market for peripheral IV catheters is driven by several factors, including the growing prevalence of chronic diseases, technological advancements in IV catheter insertion, and the increasing number of surgeries and hospital admissions. However, the market is also faced with restraints and challenges such as the risk of infection, product recalls, and the availability of alternatives.

Growth Drivers & Opportunity:

One of the major growth drivers for the peripheral IV catheters market is the increasing prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer. According to the World Health Organization, the number of people with diabetes has risen from 108 million in 1980 to 422 million in 2014. This has led to a higher demand for IV catheters for the administration of insulin and other medications. Additionally, the growing geriatric population is also contributing to the increased demand for peripheral IV catheters, as older adults are more likely to require medical treatment and hospitalization.

Furthermore, technological advancements in IV catheter insertion have significantly reduced the risk of complications such as infiltration, phlebitis, and infection. The introduction of safety devices, such as catheters with retractable needles and anti-reflux valves, has also improved the safety and efficacy of IV catheter insertion. These advancements have led to greater adoption of peripheral IV catheters by healthcare providers, driving market growth.

Report Scope

Report Coverage	Details
Segments Covered	By Product, Technology, End-User
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	BD Medical, B. Braun Melsungen AG, Terumo, Nipro, Smith Medical, Vygon S.A., ICU Medical, VOGT Medical, RenovoRx, Inc, Retractable Technologies, MedSource Labs, Argon Medical Devices, Intra Special Catheters.

Industry Restraints & Challenges:

Despite the growth drivers, the peripheral IV catheters market faces several restraints and challenges that could impede its growth. One of the primary challenges is the risk of infection associated with IV catheter use. According to the Centers for Disease Control and Prevention, nearly 250,000 bloodstream infections occur each year in the United States due to improper insertion and maintenance of IV catheters. This has led to increased scrutiny and regulatory oversight, resulting in stricter guidelines for the use of IV catheters in healthcare settings.

Moreover, product recalls have also posed a challenge for the market. In recent years, several manufacturers have issued recalls for their peripheral IV catheters due to issues such as catheter breakage, leakage, and the potential for air embolism. These recalls have raised concerns about the safety and reliability of IV catheters, leading to a loss of consumer confidence and potential financial losses for manufacturers.

Regional Forecast:

North America:

The North American region is expected to dominate the peripheral IV catheters market due to the presence of a well-established healthcare infrastructure, high healthcare spending, and a growing prevalence of chronic diseases. The region is also witnessing rapid technological advancements in IV catheter insertion techniques and materials, which is driving market growth. Additionally, the increasing number of surgical procedures and hospital admissions in the region is contributing to the demand for peripheral IV catheters.

Asia Pacific:

The Asia Pacific region is expected to witness significant growth in the peripheral IV catheters market due to the rapidly expanding healthcare industry, increasing healthcare investments, and the growing awareness about the benefits of IV therapy. Countries such as China, India, and Japan are projected to be major contributors to market growth, driven by factors such as the rising geriatric population, the increasing adoption of advanced medical technologies, and the growing prevalence of chronic diseases. However, the market in the region is also faced with challenges such as the presence of counterfeit products and the lack of skilled healthcare professionals for IV catheter insertion.

Europe:

In Europe, the peripheral IV catheters market is expected to grow steadily due to the increasing demand for IV therapy, advancements in healthcare infrastructure, and the presence of leading market players. The region also has a high adoption rate of advanced medical technologies and a strong emphasis on patient safety and infection control, which is driving the demand for safer and more advanced IV catheters. However, the market in Europe is also faced with challenges such as cost constraints in healthcare systems, stringent regulatory requirements, and the increasing preference for alternative drug delivery methods.

In conclusion, the peripheral IV catheters market is witnessing significant growth driven by factors such as the increasing prevalence of chronic diseases, technological advancements in IV catheter insertion, and the growing number of surgical procedures and hospital admissions. However, the market also faces challenges such as the risk of infection, product recalls, and the availability of alternatives. The regional forecast indicates strong growth potential in North America, Asia Pacific, and Europe, driven by factors such as healthcare infrastructure, healthcare spending, and the adoption of advanced medical technologies.

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