The latest market report published by Credence Research, Inc. “Intravenous Access Devices Market – Growth, Future Prospects, Competitive Analysis, 2017 – 2025,” the global intravenous access devices market was valued at US$ 5,086.74 Mn in 2016, and is expected to reach US$ 7,918.12 Mn by 2025 expanding at a CAGR of 5.1 % from 2017 to 2025.
Browse the full report Intravenous Access Devices Market – Growth, Future Prospects, Competitive Analysis, 2017 – 2025 report at https://goo.gl/gm5Bwc
The prominent market players are striving to eliminate complications such as phlebitis, extravasation, and hematoma by adding safety features to the catheters and cannulas used as an intravenous access devices. The device features such as encapsulated needle shield and clicking lock safety mechanism, smooth surface, delicate tapered catheter tips, and thumb grip being ergonomically designed enhances the safety and patient compliance of the intravenous access devices. Insyte autoguard shielded IV catheters (Becton and Dickinson) and Introcan safety 3 IV catheters (B. Braun Medical, Inc.) have been successful in addressing complication related to intravenous access devices.
The peripheral vascular access system leads the product segment as it is used for short term therapies for administration of antibiotics and antipyretic drugs which comes under first line treatment against infectious diseases. Central vascular access system finds significance for long term therapy used for the treatment of chronic diseases.
Rising prevalence of chronic diseases and intravenous drug administration for contagious diseases favor the domination of medication administration and diagnostic testing in the application segment. Increasing road accidents, malnutrition and blood disorders will highlight the impressive growth in transfusion of blood products and administration of fluid and nutrition in the application segment.
The consolidated market hold of North America is due to rising prevalence of both communicable and non-communicable diseases. Enhanced government spending in developing healthcare segment leads to increasing demand for intravenous access devices in North American market. In Asia Pacific the sultry weather conditions, poverty and pollution are responsible for increasing bacterial infections requiring immediate IV fluid and drug assistance. Competitive market is created by impressive growth of domestic players manufacturing intravenous access devices in Asia Pacific market.
The intravenous access devices market includes cardinal players such as Nipro Medical Corporation, Becton Dickinson and Company, Edward Life Sciences Corporation, Medtronic Plc, Baxter International, Inc., Siemens Medical Solutions, Inc., Teleflex Medical, GE Healthcare, Inc., Terumo Corporation and B. Braun Medical, Inc.
Key Market Movements:
- Sedentary lifestyle, obesity and tobacco consumption in developed countries give rise to non-communicable diseases
- Increasing poverty and pollution resulting in proliferation of communicable diseases in low and middle income countries
- Supportive regulatory environment for intravenous access devices products