2024 Global Intravenous Fluid Monitoring Devices Market Report: Key Drivers, Size, and Leading Segments
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What Growth Rate is Predicted for the Intravenous Fluid Monitoring Devices Market for 2024-2033?
In the past few years, the market size of intravenous fluid monitoring devices has significantly expanded. It is projected to rise from $4.71 billion in 2023 to approximately $5.12 billion in 2024, with a compound annual growth rate (CAGR) of 8.8%. The historic period’s expansion can be linked to an upsurge in chronic illnesses, a growing elderly population, enhancements in healthcare infrastructure, more rigorous regulatory standards, and an increase in both surgical procedures and critical care treatments.
It is anticipated that the market size of intravenous fluid monitoring devices will witness substantial growth in the nearing years, estimated to reach a valuation of $7.21 billion in 2028 with a compound annual growth rate (CAGR) of 8.9%. Factors propelling this growth over the forecasted timeframe can be credited to heightened focus on patient safety, the broadening scope of healthcare facilities, the emerging development of remote monitoring equipment, an escalation in smart and interconnected devices, and a heightened consciousness about fluid management. Major trends projected for the forecasting duration encompass integration with the internet of things (IoT), the utilization of artificial intelligence, the evolution of wearable technology, progress in smart infusion pumps, and upgrades in data analytics steering the enhancement of fluid management strategies.
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What Drivers Are Enhancing the intravenous fluid monitoring devices Market’s Growth?
The growth of the intravenous fluid monitoring devices market is anticipated to be fueled by the increasing adoption of home healthcare. Home healthcare involves providing both medical and non-medical services to individuals in their homes, intended to promote their health and wellness. The rise in home healthcare is chiefly due to an aging demographic, improvements in medical technology, higher incidence of chronic illnesses, and a rising preference for receiving treatment at home because it is more comfortable and cost-effective. In home healthcare, intravenous fluid monitoring devices offer a precise method to monitor fluid intake, ensuring the correct level of hydration and medication is administered, and providing remote monitoring to improve patient care. For example, a report by Public Health Scotland, a national agency based in Scotland, showed that in 2022/23 the Care at Home services logged just above 37.7 million hours, a growth of around 3% from the 2021/22 period. Hence, the expanding uptake of home healthcare is stimulating growth in the market for intravenous fluid monitoring devices.
What Segments Are Central to the Intravenous Fluid Monitoring Devices Market?
1) By Product Type: Wired Devices, Wireless Devices
2) By Application: Flow Monitoring, Volume Monitoring, Pressure Monitoring
3) By End User: Hospitals And Clinics, Ambulatory Surgical Centers, Home Care Settings, Other End-Users
What Emerging Trends Are Influencing Intravenous Fluid Monitoring Devices Industry Dynamics?
Leading businesses in the intravenous fluid monitoring devices market are forming strategic alliances to improve their product range, broaden their market exposure, and stimulate innovation. Through partnering with tech companies or research centres, these firms can incorporate advanced technology like the Internet of Things (IoT) and Artificial Intelligence (AI) into their devices, thus improving the precision and functionality of fluid monitoring systems. For example, in August 2023, B. Braun, a medical and pharmaceutical device organization from Germany, integrated their infusion pumps with remote monitoring technology supplied by Monitor, a Finnish health tech company. This upgrade improves the adaptability of B. Braun’s IV therapy infusion pumps and allows healthcare workers to oversee infusions from afar, enhancing both convenience and precision in patient care.
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Which Geographic Locations Are Critical to the Growth of the Intravenous Fluid Monitoring Devices Market?
North America was the largest region in the intravenous fluid monitoring devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intravenous fluid monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Intravenous Fluid Monitoring Devices Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the intravenous fluid monitoring devices market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Intravenous Fluid Monitoring Devices Market Include
1. Intravenous Fluid Monitoring Devices Market Executive Summary
2. Intravenous Fluid Monitoring Devices Market Segments
3. Intravenous Fluid Monitoring Devices Market Size And Template Market Growth Rate
4. Key Intravenous Fluid Monitoring Devices Market Trends
5. Major Intravenous Fluid Monitoring Devices Market Drivers
……
25. Key Mergers And Acquisitions In The Intravenous Fluid Monitoring Devices Market
26. Top Intravenous Fluid Monitoring Devices Companies
27. Intravenous Fluid Monitoring Devices Market Opportunities And Strategies
28. Intravenous Fluid Monitoring Devices Market, Conclusions And Recommendations
29. Appendix
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