The global IV equipment market was valued at USD 9.5 Billion in 2020 and is anticipated to grow at USD 13.73 Billion till 2027 recording a CAGR of 5.4% during the forecast period 2021-2027. The report provides in-depth analysis of the impact of COVID-19 on the market, along with revised market numbers due to the effects of the coronavirus.

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IV equipment is a medical device. This medical device is mainly used in the intravenous therapy for delivering the liquid substance into one’s body through the intravenous system. Intravenous therapy is one of the robust routes for delivering medications to the person as the medication enters into the circulation directly through intravenous direction. IV equipment is also used to administer infusions and injections through infusion pumps and syringes. The IV equipment should be sterile before administering into one’s vein.

There are several significant factors projected to foster the market over the forecast period, which include several benefits of intravenous therapy, increasing count of surgical procedures, availability of fixed IV equipment like IV cannulas for the administration of numerous drugs as well as growing aging population. On the other hand, patient safety risks, strict regulatory regulations for the approval of new products and increasing cases of medication errors are expected to hinder the IV equipment market growth over the forecast period. Moreover, collaborations, acquisitions, novel product launchings and mergers are the strategies followed by the key players to generate the revenue share in IV equipment market. For example, ICU Medical Inc. obtained Hospira infusion systems in April 2017 for expanding their product collection in the IV Equipment market.

Based on regional basis, global IV equipment market is categorized into several regions such as Latin America, North America, Europe, Asia Pacific, Middle East and Africa. IV Equipment Market in North America is anticipated to experience significant growth because of the increasing healthcare expenditure, growing cases of chronic illnesses like cancer and huge adoption of homecare IV equipment devices in the region. Europe IV equipment market witnessed considerable share due to the advanced healthcare infrastructure and increasing cases of chronic diseases because of lifestyle change in the region. IV equipment market in Asia Pacific region is impelled by the presence of a large patient pool, growing medical tourism in the countries of this region and huge demand for advance IV equipment in this region.

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There are several major industry players working in the IV Equipment Market which include Becton, Dickinson and Company (U.S.), Terumo Corporation (Japan.), Fresenius SE & Co. KGaA (Germany), Braun Melsungen AG (Germany), AngioDynamics, Inc. (U.S.), R. Bard, Inc. (U.S.), ICU Medical, Inc. (U.S.), Baxter International Inc. (U.S.), Moog, Inc. (U.S.), Smiths Medical (U.K.)

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