Intravenous therapy infuses intravenous solutions, medications, blood, or blood products directly into a vein. It is an effective and fast-acting way to administer fluid or medication treatment in an emergency, and for patients who are unable to take medications orally. Intravenous fluids are administered through thin, flexible plastic tubing called an infusion set or primary infusion tubing/administration set. The infusion tubing connects to the bag of IV solution. Primary IV tubing is either a macro-drip solution administration set that delivers 10, 15, or 20 gtts/ml, or a micro-drip set that delivers 60 drops/ml. Macro-drip sets are used for routine primary infusions. Micro-drip IV tubing is used mostly in pediatric or neonatal care, when small amounts of fluids are to be administered over a long period of time.
IV EQUIPMENT MARKET OUTLOOK
The global IV equipment market is observing significant growth owing to increasing incidence of chronic diseases and rising geriatric population. The market is further boosted by surging number of surgical procedures performed, along with technological advancements in IV equipments. In addition, increasing per capita income is enabling people to take up advanced surgical procedures, thus driving the growth of this market. Active role of healthcare agencies and government in creating awareness about various diseases is also expected to facilitate usage of IV equipments, thereby supporting market development. However, the market is hindered by patient safety risks and medication errors associated with infusion pumps leading to product recalls.
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IV EQUIPMENT MARKET SEGMENTAL OVERVIEW
The report analyses the global IV equipment market based on product type, application and geography.
IV EQUIPMENT MARKET BY PRODUCT TYPE
Based on product type, the market is categorized into IV catheters; administration sets such as solution administration sets and blood administration sets; infusion pumps; securement devices; stopcocks check valves; drip chambers; needleless connectors; and other IV equipment.
IV EQUIPMENT MARKET BY END USER
Furthermore, various end users of this market are categorized into hospitals, clinics, home care settings and ambulatory care centers. The hospitals comprise surgical units based in hospitals or attached to hospitals that are equipped with instruments and accessories, including IV equipments, to perform procedures for diagnostic or treatment purposes.
IV EQUIPMENT MARKET BY GEOGRAPHY
By geography, the global IV equipment market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world. In 2018, North America held the largest revenue share mainly due to factors such as government support for quality healthcare, high purchasing power parity, availability of reimbursement, and increasing prevalence of cancers in U.S. and Canada. Furthermore, Asia Pacific is expected to witness lucrative growth over the forecast period owing to supportive government initiatives and improving healthcare infrastructure. Additionally, economic developments in countries, such as India and China, are expected to help spur the market growth. Huge population base with low per capita income in the region led to high demand for affordable treatment options.
IV EQUIPMENT MARKET KEY PLAYERS
The leading IV equipment market players are AngioDynamics, Inc. (USA), Animas Corporation (USA), Arcomed AG (Switzerland), ASCOR S.A. (Poland), B. Braun Melsungen AG (Germany), Baxter International, Inc. (USA), Becton, Dickinson and Company (USA), C.R. Bard, Inc. (USA), F. Hoffmann-La Roche Ltd. (Switzerland), Fresenius SE Co. KGaA (Germany), Halyard Health, Inc. (USA), Hospira, Inc. (USA), Medtronic, PLC (Ireland), Moog, Inc. (USA), Nipro Corporation (Japan), Smiths Medical (USA), Teleflex Incorporated (USA) and Terumo Corp. (Japan).
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