Global Peripheral Intravenous Catheter Market to Surpass US$ 7,535.5 Million by 2027, Owing to Increasing Prevalence of Chronic Diseases


Posted July 7, 2020 by SANJAYCMI

“Coherent Market Insights “PERIPHERAL INTRAVENOUS CATHETERS – GLOBAL TRENDS, ESTIMATES AND FORECASTS, 2020-2027″

 
According to Global Peripheral Intravenous Catheters Market Report, By Product Type (Short PIVC (Ported PIVC and Non-ported PIVC), and Integrated/Closed PIVC), By Technology (Conventional and Safety), By End User (Hospital, Ambulatory Surgical Centers, Clinics, Home Use, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), published by Coherent Market Insights, the global peripheral intravenous catheter market is estimated to account for US$ 7,535.5 Mn in terms of value by the end of 2027.

Browse Research Report: https://www.coherentmarketinsights.com/market-insight/peripheral-intravenous-catheters-market-3208
A peripheral intravenous (IV) catheter is a commonly used vascular access in medicine. IV catheters are available in various sizes depending on the type of application. Increasing launch of novel peripheral IV catheters is expected to boost growth of the global peripheral intravenous catheter market over the forecast period. For instance, in July 2018, 3M launched Tegaderm Antimicrobial I.V. Advanced Securement Dressing and Tegaderm Antimicrobial Transparent Dressing to enhance its peripheral IV maintenance solution offerings.
Moreover, increasing prevalence of chronic diseases is also expected to aid in growth of the market. For instance, according to the study, “Global and regional diabetes prevalence estimates for 2019 and projections for 2030 and 2045: Results from the International Diabetes Federation Diabetes Atlas, 9th edition”, published in the journal Diabetes Research and Clinical Practice, in September 2019, 463 million people are expected to suffer from diabetes in 2019 worldwide and the number is expected to reach 578 million by 2030 and 700 million by 2045.

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Increasing adoption of enhanced barrier precautions to prevent the spread of multidrug-resistant organisms in nursing homes is also expected to aid in growth of the market. Enhanced barrier precautions can be used in high-contact resident care activities such as central line, urinary catheter, feeding tube, tracheostomy/ventilator, and wound care.
However, lack of trained professionals to handle peripheral IV catheters is expected to limit growth of the global peripheral intravenous catheter market.
Among product type, the Short PIVC segment in was valued at US$ 3,025.4 Mn in 2018 and is expected to reach US$ 4,693.7 Mn by 2027 at a CAGR of 4.9% during the forecast period.
Among end users, the Hospital segment accounted for the largest market share of 62.2% in terms of value, in 2018, followed by ambulatory surgical centers.

Browse Press Release: https://www.coherentmarketinsights.com/press-release/peripheral-intravenous-catheters-market-2603
Key Takeaways
• Increasing prevalence of chronic diseases to augment growth of the global peripheral intravenous catheter market over the forecast period. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.
• Major players in the market are focused on product approval and launch to expand their product portfolio. For instance, in March 2018, Smiths Medical received the U.S. FDA clearance for its DeltaVen Closed System Catheter, a product developed by Delta Med SpA.
• Key players in the market are also focused on adopting partnership strategies to expand its product portfolio. For instance, in March 2019, Delta Med SpA partnered with Levanton, a producer of infusion devices, to expand its product portfolio.
• Major players operating in the global peripheral intravenous catheter market include, Becton, Dickinson and Company, B. Braun Melsungen AG, Smith Medical, Terumo Corporation, C. R. Bard, Inc., Tangent Medical, Velano Vascular Inc., and Vygon Group.

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Tags peripheral intravenous catheter market , peripheral intravenous catheter market share , peripheral intravenous catheter market size
Last Updated July 7, 2020