Intravenous Equipment Market Size & Share 2023 to 2032
Market Size by Product (IV Catheters, Administration Sets, Infusion Pumps, Securement Devices, Drip Chambers, Stopcocks and Check Valves, Needless Connectors).
Report ID: GMI4017
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Published Date: August 2023
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Report Format: PDF
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Authors:
Monali Tayade, Pratiksha Kamthe
Intravenous Equipment Market Size
Intravenous Equipment Market size was valued at USD 14.4 billion in 2022 and is estimated to account for USD 27.2 billion by 2032. Intravenous (IV) equipment refers to the devices, instruments, and supplies used in intravenous therapy. It includes a range of products such as IV catheters, intravenous infusion pumps, IV sets, connectors, and accessories.
Intravenous Equipment Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
IV equipment is specifically designed to facilitate the administration of fluids, medications, or nutrients directly into the patient's veins. This method allows for rapid and controlled delivery of substances into the bloodstream, ensuring efficient absorption and distribution throughout the body. IV equipment plays a critical role in healthcare settings, enabling healthcare professionals to deliver essential treatments and therapies effectively. Key factors driving the industry expansion include the rising prevalence of chronic diseases, technological advancements in novel drug delivery systems, increasing healthcare expenditure, and the demand for efficient patient care.
Surgical procedures often necessitate the use of intravenous therapy for various purposes, including fluid replacement, anesthesia administration, and post-operative pain management. With the rising number of surgeries being performed globally, there is a corresponding increase in the demand for IV equipment. Hospitals and healthcare facilities require a reliable supply of IV catheters, infusion pumps, and related equipment to support safe and efficient perioperative care. For instance, according to the National Library of Medicine, which is part of the National Institutes of Health (NIH) reports that globally, there are approximately 310 million major surgeries performed annually, with 40 to 50 million taking place in the U.S. and 20 million in Europe. Studies indicate that a small percentage, ranging from 1 to 4% of these patients may experience mortality, while up to 15% may encounter significant postoperative morbidity. Furthermore, within 30 days following surgery, a percentage of patients, ranging from 5 to 15%, may necessitate readmission.
COVID-19 Impact
The COVID-19 pandemic had a positive impact on the intravenous equipment market. Increased hospitalizations and critical care needs of COVID-19 patients led to a higher demand for IV equipment, including infusion pumps, catheters, and IV sets. The need for intravenous medications specific to COVID-19 treatment further fuelled the market. Emphasis on infection control and the rise in home healthcare during the pandemic. The ongoing need for IV therapy, advancements in technology, and the trend towards home healthcare.
Intravenous Equipment Market Trends
Chronic diseases such as cancer, diabetes, cardiovascular disorders, and autoimmune conditions have become increasingly prevalent worldwide. For instance, according to the American Autoimmune Related Diseases Association (AARDA), there are over 100 identified autoimmune diseases, and they collectively affect more than 50 million people in the U.S. Furthermore, according to the International Agency for Research on Cancer (IARC) in December 2020, global estimates indicate that approximately 1 in 5 individuals will develop cancer at some point in their lifetime. IV equipment enables healthcare professionals to administer medications, fluids, and nutrients directly into the patient's veins, ensuring efficient and targeted delivery. The growing incidence of chronic diseases, coupled with the need for effective treatment.
Intravenous Equipment Market Analysis
The intravenous equipment market by product is categorized into IV catheters, administration sets, infusion pumps, securement devices, drip chambers, stopcocks and check valves, needless connectors, and others. The IV catheters segment garnered USD 3.3 billion revenue size in the year 2022. IV catheters are essential for administering fluids and medications directly into the patient's bloodstream during IV therapy. They find applications across various healthcare settings and specialties, making them a versatile and in-demand product. Furthermore, ongoing technological advancements in IV catheters aim to enhance patient comfort and safety, attracting healthcare providers. The rising prevalence of chronic diseases further fuels the demand for IV therapy and, consequently, IV catheters.
Based on end-use, the intravenous equipment market is segmented into hospitals and clinics, diagnostic centers, ambulatory surgical centers, and others. The hospitals and clinics segment accounted for over 34% market share in the year 2022. Hospitals and clinics witness a high volume of IV procedures across diverse medical specialties, creating a sustained demand for IV equipment. With advanced healthcare infrastructure and a focus on patient safety, hospitals and clinics prioritize the use of innovative IV equipment to provide optimal care. For instance, according to the American Hospital Association’s (AHA) Hospital Statistics 2022 edition, the total number of patients admissions in all hospitals across the U.S. amounted to approximately 33.3 million.
U.S. intravenous equipment market accounted for USD 5.4 billion revenue size in 2022. Increasing geriatric population base along with the rising incidence of cancer in the country will drive the U.S. industry progression. For instance, according to the American Cancer Society, it is projected that in 2023, there will be approximately 2 million new cases of cancer and an estimated 609,820 cancer-related deaths in the U.S. Moreover, growing awareness regarding remote patient monitoring devices for improved accuracy, portability, connectivity, and user-friendly interface will boost market adoption rate.
Intravenous (IV) Equipment Market Share
Some of the eminent industry participants operating in the intravenous equipment market include
Intravenous (IV) Equipment Industry News:
Intravenous equipment market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:
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By Product (USD Million & Units)
By End-use (USD Million)
The above information is provided for the following regions and countries:
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