November 7, 2019
— Global Peripheral IV Catheters Market report published by Accurize Market Research forecast that the global market is expected to reach $6 billion by 2024; growing at a CAGR of 6.1% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Demand for healthcare infrastructure to drive the global market
Some of the factors supporting the growth of the global peripheral IV catheters market comprise a rise in the number of infections and diseases, expanding healthcare infrastructure, rising demand for peripheral IV catheters and increasing preference of injectable drugs. Additionally, product innovations may provide future scope in the forecasted period. However, the probability of causing serious infections might limit adoption among consumers.
Global Peripheral IV catheters market is split into technology, clinical area, end-user, and geography. Technology is divided into safety and conventional. The clinical area is divided into oncology, gastroenterology, renal diseases, pediatric diseases, infectious diseases, and others. The end-user is segregated into hospitals, ASC, clinics, home healthcare, and others.
North America, Europe, Asia-Pacific and the Rest of the world (RoW) are the geographical segments of the market. North America is further bifurcated into countries namely; U.S., Canada, and Mexico. Europe covers countries like Russia, the U.K., Germany, France, Italy and the Rest of Europe. Asia-Pacific countries include China, India, Japan, South Korea and Rest of Asia Pacific. The rest of the World (RoW) covers South America, Africa, and the Middle East.
"Safety accounted for the largest market share in the technology segment", says Accurize
In 2017, safety is expected to dominate the technology segment with the highest market share and fastest CAGR. In the clinical area, oncology held major share, driven by an increasing number of cancer patients globally, followed by gastroenterology. In the end-user segment, the hospital will attain the fastest CAGR and held a maximum share in 2017.
"North America dominated the global market with the highest market share over the forecast period", says Accurize
North America and Europe accounted for the majority of the global market share in 2017, with 45% and 27.5%, respectively. In terms of growth, Asia-Pacific will attain the fastest CAGR, owing to the increasing aging population, and improving healthcare infrastructure.
Top players in the market
Major companies operating in the market include Tangent Medical Technologies, Inc., Smith Medical plc, B. Braun Melsungen AG, C. R. Bard, Inc., Becton, Dickinson and Company, Argon Medical Devices Inc., Terumo Corporation, Vygon SA, Teleflex Inc., and Vigmed AB, among others.