Global Intravenous Equipment Market Poised for Remarkable Growth, Reaching $26.7 Billion by 2032

PORTLAND, OREGON, UNITED STATES, March 28, 2024 /EINPresswire.com/ -- The intravenous equipment market, valued at $15.0 billion in 2022, is projected to reach $26.7 billion by 2032, with a Compound Annual Growth Rate (CAGR) of 5.9% from 2023 to 2032.

Key Growth Drivers:

Increasing prevalence of chronic diseases such as diabetes, cardiovascular diseases, cancer, and autoimmune disorders.
Technological advancements in intravenous equipment.
Growing number of surgical procedures.
However, stringent regulatory requirements pose challenges to market growth.
Emerging markets offer significant growth opportunities.

Impact of COVID-19:

The pandemic led to a surge in severely ill patients requiring hospitalization and intensive care, boosting demand for IV therapy.
Home-based care and telehealth services witnessed accelerated adoption, creating opportunities for portable and user-friendly intravenous equipment suitable for homecare settings.

Leading Segments:

IV catheters segment is expected to maintain its leadership, with the highest CAGR of 6.4% during the forecast period, driven by factors such as the prevalence of chronic diseases and advancements in catheter technologies.

Hospitals and clinics segment dominated in 2022, owing to extensive utilization of intravenous therapy. However, the homecare settings segment is projected to grow rapidly due to patient preference and cost-effectiveness.

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Regional Insights:

North America held the highest market share in 2022, driven by well-developed healthcare infrastructure and robust reimbursement policies. However, the Asia-Pacific region is expected to witness the fastest CAGR, fueled by a rapidly growing population and increasing prevalence of chronic diseases.
Leading Market Players:

Key players such as Becton, Dickinson and Company, B. Braun SE, ICU Medical, Inc., among others, have adopted various strategies such as acquisitions and product approvals to maintain their dominant positions.

This analysis provides insights into the competitive landscape, business performance, and strategic moves of market players, facilitating informed decision-making.

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