Global IV Catheters Market Insights Report 2023-2029: Peripheral Inserted Central Catheters (PICCs) Leading the Charge – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global IV Catheters Market – Focused Insights 2024-2029” report has been added to ResearchAndMarkets.com’s offering.


The global IV catheters market was valued at USD 4.93 billion in 2023 and is expected to reach a value of $6.64 billion by 2029, growing at a CAGR of 5.04%

The global IV catheters market report contains exclusive data on 33 vendors. BD, B Braun, Terumo, Teleflex, ICU Medical, and Nipro Medical are some leading players currently dominating the global IV catheters market. The major players focus on strategic acquisitions and collaborations with emerging players to enter the IV catheters market and gain access to commercially launched products.

Expanding Population with Chronic & Lifestyle Diseases: Global population aging is evident, with nearly every country witnessing an increase in the proportion and size of the older demographic. The surge in the elderly population and the prevalence of chronic diseases is linked to unhealthy lifestyles and the extended average life expectancy globally. The continuous growth in individuals with chronic conditions and the rapidly expanding elderly population are the primary factors fueling the global demand for peripheral IV catheters.

Rise in Hospitalization Rate: Patients worldwide receive intravenous drugs and components, propelling the PIVCs market globally. Nearly all hospitalized patients undergo at least one peripheral intravenous catheter insertion, establishing them as widely used vascular devices for delivering medication, nutrients, and fluids. The primary driver for PIVC adoption is the rising incidence of chronic diseases in the elderly, leading to hospital admissions.

High Usage of CIVCs in Chemotherapy: Cancer, a chronic disease, necessitates regular drug and radiation therapy. Chemotherapy is often safely administered via a standard IV line, and infusions require a central line catheter, like PICC, CVC, or implantable port. CVCs take precedence due to the limited safety of PIVCs for a few weeks, while CVCs are used for months or years until treatment concludes. To minimize infection risks and minimize cell and tissue damage, CIVCs are generally preferred over PIVCs.

GLOBAL IV CATHETERS MARKET HIGHLIGHTS

The PIVCs product segment will hold the most significant global IV catheter market share in 2023. The adoption of PIVCs is growing across the world due to the increasing hospital and intensive care admissions attributed to the rising aging population associated with various chronic and lifestyle diseases. Rising awareness about advanced visualization technologies that help properly insert PIVCs and reduce complications significantly contributes to adopting PIVCs.

The Short PIVCs product segment had the highest peripheral IV catheter market size in 2023. Short PIVCs are the most widely used medical devices across various healthcare settings. The insertion of short PIVCs is one of the most performed invasive techniques in acute care settings. The use of short PIVCs is widespread among oncology patients, particularly in patients receiving IV medications in either inpatient or home care settings.

The conventional PIVCs technology segment accounted for a significant share of the global peripheral intravenous catheters market. Conventional PIVCs are simple, inexpensive IV lines used for short-term intravenous therapy. These PIVCs allow safe infusion of medications, hydration fluids, blood products, and nutritional supplements.

The peripheral inserted central catheters (PICCs) product segment accounted for the highest market share of over 45% of the global CIVCs market. The market is growing faster due to the rising awareness regarding healthcare and increasing concern for needlestick injuries and rising bloodborne infections among users. The rise in the number of hospitalizations due to various reasons globally increases the demand for the PICC.

The multi-lumen design segment is growing at the highest CAGR of 6.55% from 2024 to 2029 in the global CIVCs market. The multi-lumen CIVCs provide multiple access to the central vein for intravenous therapy. The market is growing faster as they facilitate multiple channels to administer many drugs and minimize the frequency of catheter insertions in patients. This advantage is driving the usage of multi-lumen catheters among the end-users.

GEOGRAPHICAL INSIGHTS

The U.S. accounted for a revenue share of over 92% of the North American IV catheters market. The rising elderly population with chronic illnesses, growing hospitalization rates, increased need for IV catheters for ICU and emergency patients, demand for advanced safety catheters, rising healthcare expenditures, higher accessibility to advanced healthcare, and health coverage have contributed to the growth of the PIVCs market in the U.S.

Italy is growing significantly in the European IV catheter market, with the fastest CAGR of 6.16% from 2024 – 2029. It is observed that there is an overuse of the emergency department by the pediatric population in developing countries such as Italy as well as worldwide. This phenomenon of overusing the emergency department is leading to increasing demand for advanced CIVCs to provide nutrients and drugs to the patients in the emergency care units.

India is the fastest-growing region in the APAC IV catheter market, with a CAGR of 6.06%. Various chronic diseases are fueling the hospitalization rates among the Indian population. These include cardiovascular diseases, stroke, respiratory diseases, tuberculosis, COPD, diabetes, Alzheimer’s disease, dementia, malaria, and others.

The IV catheters market in Brazil is one of the fastest-growing markets among all emerging economies and the largest in Latin America. The market is witnessing growth, mainly due to increased self-, government, and private expenditures in healthcare. On average, 50% of Brazil’s expenditure is financed by the government, 25% by private players, and 25% by individuals/patients.

Key Attributes:

Report Attribute
Details

No. of Pages
136

Forecast Period
2023 – 2029

Estimated Market Value (USD) in 2023
$4.94 Billion

Forecasted Market Value (USD) by 2029
$6.64 Billion

Compound Annual Growth Rate
5.0%

Regions Covered
Global

Key Vendors

B.D.

B Braun

Teleflex

Nipro Medical

Terumo

ICU Medical

Other Prominent Vendors

Vygon

Shanghai Puyi Medical Instruments

AngioDynamics

Argon Medical Devices

Deltamed

Dukwoo Medical

EXELINT International

Greiner Bio-One International GmbH

Healthline Medical Products

Medical Components

Medline Industries

Medsource Labs

Merit Medical Systems

Qingdao Sinoland International Trade Co.

Retractable Technologies

SILMAG

Lepu Medical

Kimal

Amecath Medical Technologies

Bactiguard

Vogt Medical

Cook Medical

Henan Tuoren Medical

Troge Medical

Guangdong Baihe Medical Technology

Intra Special Catheters

Biosensors

For more information about this report visit https://www.researchandmarkets.com/r/atfljv

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