Research Nester’s recent market research analysis on “IV Disinfecting Caps Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global IV disinfecting caps market in terms of market segmentation by product type, application, end-use, and by region.
Growing Prevalence of Cancer to Promote Global Market Share of IV Disinfecting Caps
The global IV disinfecting caps market is estimated to grow majorly on account of the increasing cases of cancer around the globe. As more people contract cancer, there is a rising need for IV disinfectant caps. For instance, using IV disinfectant caps to prevent infections in cancer patients can be a crucial tactic. The care of these individuals must include infection control as it may increase their susceptibility to infections. Also, it is anticipated that the rising acceptance of infection control in hospital settings around the world would contribute to market expansion. By 2040, it is predicted that there will be over 16 million cancer-related deaths and over 29 million new cases of the disease worldwide.
The global IV disinfecting caps market is estimated to grow majorly on account of the rising awareness of hygiene around the globe. Owing to the growing hygiene awareness, it is anticipated that there is a greater need for IV disinfectant caps. In the coming years, the market is anticipated to grow even more as people are becoming more aware of hygiene. Approximately 65% of individuals used basic hygiene services worldwide in 2020.
Some of the major growth factors and challenges that are associated with the growth of the global IV disinfecting caps market are:
Growth Drivers:
· Surge in Elderly Population Globally
· Rising Investment in Healthcare
Challenges:
The rising concern for risks of not securing the sterile cap, and the absence of knowledge regarding the usage of disinfectant caps in developing countries are some of the major factors anticipated to hamper the global market size of IV disinfecting caps. For instance, the sterile cap's job is to act as a barrier against pathogens such as bacteria and viruses so they can't enter the IV line. If the cap is not tightly fastened, the IV line may contract an infection.
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The global IV disinfecting caps market is segmented by end-users into hospitals, clinics, and diagnostic centers. The hospitals segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The growth of the segment can be attributed to the growing number of healthcare-associated infections (HAIs). For instance, the increase in infections contracted in hospitals may lead to a greater requirement for IV disinfecting caps. Infections that patients contract while residing in a hospital or other healthcare facility are referred to as hospital-acquired infections. Also, medical professionals are concentrating on infection prevention strategies to protect patients from potentially fatal infections, which could increase demand for IV disinfecting caps. Moreover, IV cleaning caps are used to stop infections from spreading through intravenous lines. Over 1 million infections and over 90,000 fatalities are attributed to healthcare-associated infections (HAIs) each year in hospitals in the US.
By region, the North American IV disinfecting caps market is to generate the highest revenue by the end of 2035. An increasing number of surgical procedures anticipates this growth. Owing to the rising aging population and an increase in the prevalence of chronic illnesses, there are more surgical procedures being performed in the area. While surgical procedures have increased in frequency in the area, a greater demand for IV disinfecting caps is anticipated. To prevent infections from growing during intravenous therapy, IV disinfection caps are frequently utilized in surgical settings. Also, as more people get intravenous therapy and have more procedures, the demand for IV disinfection caps increases. Additionally, it is projected that the region's increased research and development activities and technical improvements is projected to support market expansion. Also, it is projected that the rising prevalence of disorders is poised to fuel market expansion during the anticipated time frame. By 2060, the number of Americans aged 65 and above is expected to nearly double, rising from over 50 million in 2018.
This report also provides the existing competitive scenario of some of the key players of the global IV disinfecting caps market which includes company profiling of Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., Biocrates life sciences AG, Agilent Technologies, Inc., Merit Medical Systems, B. Braun Melsungen AG, ICU Medical, Inc., Becton, Dickinson and Company, and others.
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