The Global Disposable IV Therapy Products Market, by Product Type (Intravenous Sets, Infusion Pumps, Needleless Connectors, Other Products), by End User (Hospital, Clinics, Home Healthcare), and by Region(North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 2.1 billion in 2017 and is projected to exhibit a CAGR of 5.6% over the forecast period (2017 – 2025), as highlighted in a new report published by Coherent Market Insights. The disposable IV therapy products market is expected to gain significant traction with expanding volume of patient care activity spurred by aging demographic patterns and increasing prevalence of chronic diseases.
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Intravenous (IV) therapy products are used to treat a variety of conditions including dehydration and nutrient-absorption disorders. It is increasingly given at homecare and clinics to help patients feel better without clogging emergency departments. IV therapy is also commonly used as an essential part of treatment regimens by doctors and paramedics responding on air and land ambulances, chiefly in traumatic injury management.
The major factors driving growth of the disposable IV therapy products market is increasing patient volume including geriatric population base and rising incidence of chronic diseases. For instance, according to National Health Service, in 2016, patients aged 65 to 69 made up the largest age group of hospital admissions in UK. Demand for disposable IV therapy products will also experience upward momentum as clinics, hospitals, and other health care institutions adopt stringent infection prevention norms to meet standards set by the Joint Commission on the Accreditation of Healthcare Organizations (JCAHO) and the Centers for Disease Control and Prevention (CDC). Advances in disposable IV therapy products technology is expected to have a positive impact on demand for disposable IV therapy products. Increasing introduction of novel and advanced products based on improved designs and materials is expected to drive growth of the market. For instance, the disposable needleless connector marketed by SPECATH in 2013 is utilized as channels or injestion sites for need of IV infusion. Its particular design provides many advantages with consumers, such as convenient sterilization and no need of sealing catheter. Increasing application of infusion devices for relieving pain, growing attention towards healthcare infrastructure, and rising prevalence of chronic diseases is likely to propel the market growth.
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Key Takeaways of the Disposable IV Therapy Products Market:
The global disposable IV therapy products market is anticipated to exhibit a CAGR of 5.6% over the forecast period, owing to the increasing demand for IV therapy products with rising patient volume.
Among product type, infusion pumps segment accounts for major share in the disposable IV therapy products market, owing to increasing application areas for drug administration.
Among end user, hospital segment accounts for the major share in the disposable IV therapy products market, due to increasing number of patients opting for intravenous therapy.
Key players operating in the global disposable IV therapy products market include B. Braun Melsungen AG, Baxter, Beckton Dickinson & Company, Caesarea Medical Electronics, ICU Medical, Inc., JMS Co. Ltd., Lily Medical Corporation, Smiths Medical, and Terumo Corporation.