This market research report on IV catheters, needles, and syringes market offer analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by product (syringes, needles, and intravenous catheters), by end-users (hospitals and clinics, diagnostic laboratories, ASCs, individuals, and academic & research centers), and geography (APAC, Europe, North America, and ROW).
IV Catheters, Needles, and Syringes Market – Overview
The increasing use of needle and syringes for the administration of insulin and drawing blood samples for monitoring glucose level will propel the growth of the global IV catheters, needles, and syringes market. The introduction of various kind of disposable medical devices will help avoid infections and reduce the number of incidences of hospital-acquired infection due to the negligence of the medical professionals and staffs in the global market. The rising incidence of trauma cases (accidents, burn cases), growing prevalence of chronic diseases, and increasing cases of hospital-acquired infections are some of the factors attributing to the growth of the global market. The increasing availability of these products leads to the popularity and are the most commonly used devices in healthcare centers for the administration of drugs, fluids, parenteral nutrition, and withdrawing a blood sample from the patient’s body. The rise in healthcare expenditure and hospitalizations and growing awareness of good health practices will create a demand for advanced medical products in the global market. The growing demand for safety IV catheters and other such products across the developed economies of the US, Germany, Japan, and the UK will result in the evolution of the market. The increasing awareness about the advantages of safety devices will boost the growth of the global IV catheters, needles, and syringes market.
The rising incidences of needlestick injuries (NSIs) and the establishment of stringent government regulations for these devices will result in the evolution of the global market. The exponential growth of online retail stores for the distribution and sale of medical disposable products will help vendors reach a wide group of audience in the global market. The global IV catheters, needles, and syringes market are anticipated to reach values of over $26 billion by 2023, growing at a CAGR of more than 7% during 2022-2031.
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IV Catheters, Needles, and Syringes Market – Dynamics
The rising number of technological innovations in terms of tip design, material usage, delivery mechanism, and safety will boost the demand in the global IV catheters, needles, and syringes market. The vendors are investing in the development of technologically advanced platforms to meet the growing demand, improve safety and efficacy, and sustain the intense competition in the global market. The introduction of advanced needles that can withstand high pressure and compatible with power injectable systems will fuel the transformation of the patient care system in the global market. The top companies are offering a broad range of safety medical products to address needlestick issues and protect healthcare professionals from harmful pathogens in the global market. The design improvements in IV catheters and using flexible materials to improve the efficacy of these devices will improve sales volumes and revenues in the global IV catheters, needles, and syringes market. The increasing focus on technological advancements to develop and commercialize innovative and advanced devices will propel the growth of the global market.
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IV Catheters, Needles, and Syringes Market – Segmentation
This market research report includes a detailed segmentation of the market by products, end-users, distribution channel, and geography.
IV Catheters, Needles, and Syringes Market – By Products
Introduction of the sterilizable syringe will fuel development in the global IV catheters, needles, and syringes market
The global IV catheters, needles, and syringes market by products are categorized into syringes, needles, and intravenous catheters. Syringes are the most commonly used device and dominated the majority of the market share in 2017, growing at a CAGR of approximately 8% during the forecast period. The increasing availability of various types of products that are used for the administration of drug, acupuncture, and withdrawing nutrition sample will augment the growth of this segment in the global market. Depending on the usability this segment is categorized into sterilizable and disposable syringes. The growing awareness about the use of disposable medical devices to reduce the risk of blood-borne diseases, hospital-acquired infections, and other contamination is propelling the growth of this segment in the global. The demand for pre-filled syringes is expected to increase during the forecast period. The implementation of safety guidelines by healthcare systems and focus on safety procedures is attributing to the growing demand for disposable and sterilizable products in the global IV catheters, needles, and syringes market. Additionally, this segment is further classified by product type and it includes general syringes and specialized syringes.
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