Intravenous Therapy And Vein Access Devices Market Overview 2024: Size, Growth Drivers, and Major Segments
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What is the Expected Growth Rate of the Intravenous Therapy And Vein Access Devices Market for the Period 2024 to 2033?
The market size for intravenous therapy and vein access devices has witnessed robust growth in the past few years. The market is projected to swell from $28.45 billion in 2023 to $30.65 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.7%. Factors contributing to growth in the historical period include expansion of hospital facilities and intensive care units (ICUs), surge in medical research and development activities, and an increasing elderly population.
It is anticipated that the market size for intravenous therapy and vein access devices will experience a robust growth in the coming years. The market is predicted to reach a value of $41.52 billion by 2028, with a compound annual growth rate (CAGR) of 7.9%. Factors contributing to this growth during the forecast period could include the rise in surgical procedures, advent of biodegradable materials, improved measures for infection control, increased spending on healthcare, and a surge in the incidence of chronic diseases. The forecast period is also expected to witness certain major trends such as the evolution of minimally invasive procedures, progress in catheter technology, the introduction of intelligent intravenous devices, advancements in ultrasound-guided techniques, and innovations in home healthcare devices.
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What Factors Are Responsible for the Growth of the intravenous therapy and vein access devices Market?
The booming trend of surgical procedures is predicted to stimulate the expansion of the intravenous therapy and vein access devices market in the future. The rising preference for elective surgeries, such as aesthetic procedures, cosmetic surgery, rhinoplasty and other non-essential enhancing surgeries are buoying the market. Intravenous therapy and vein access devices play a crucial role in surgery for the delivery of anesthesia, medications, liquids, and nutrients, ensuring patient safety, and facilitating quick intervention when necessary. For example, in December 2023, based on data from the Australian Institute of Health and Welfare, a government agency in Australia, there were 735,500 admissions for surgery from the public hospital elective surgery waiting lists in the 2022-23 tenure, reflecting an 18% rise compared to 2021-22. Hence, the escalating number of surgical procedures fuels the development of the intravenous therapy and vein access devices market.
Which Segments Are Important for Insight into the Intravenous Therapy And Vein Access Devices Market?
1) By Type: Intravenous (IV1) Therapy And Vein Access Implantable Ports, Intravenous (IV1) Therapy And Vein Access Intravenous Catheters, Hypodermic Intravenous (IV1) Therapy And Vein Access Needles, Intravenous (IV1) Therapy And Vein Access Infusion Pumps, Other Types
2) By Application: Volume Expanders, Medication Administration, Blood-Based Products, Nutrition And Buffer Solutions
3) By End Use: Hospitals, Clinics, Ambulatory Surgical Centers
What Are the Significant Trends Reshaping the Intravenous Therapy And Vein Access Devices Sector?
In the intravenous therapy and vein access devices market, significant businesses are focusing on designing short peripheral intravenous catheters. These new developments aim to increase patient comfort, minimize complications caused during insertion, and boost the effectiveness of fluid and drug administration. Such catheters facilitate swift and effective delivery of fluids, medications, and nutrients directly into the bloodstream, hence lowering patient discomfort and decreasing infection risks. In addition, they ensure easy and reliable venous access for different medical treatments. For example, in October 2023, B. Braun, a medical device firm based in Germany, introduced the Introcan Safety 2 IV Catheter. This short peripheral intravenous catheter comes with passive needlestick prevention and a Multi-Access blood control septum. The updated catheter aims to enhance safety for clinicians by offering automatic needlestick protection and a blood control feature that lowers exposure to bloodborne pathogens each time the hub is accessed.
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Which Regions Are Essential for the Growth of the Intravenous Therapy And Vein Access Devices Market?
North America was the largest region in the intravenous therapy and vein access devices market in 2023. The regions covered in the intravenous therapy and vein access devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Intravenous Therapy And Vein Access 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 therapy and vein access devices market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Intravenous Therapy And Vein Access Devices Market Include
1. Intravenous Therapy And Vein Access Devices Market Executive Summary
2. Intravenous Therapy And Vein Access Devices Market Segments
3. Intravenous Therapy And Vein Access Devices Market Size And Template Market Growth Rate
4. Key Intravenous Therapy And Vein Access Devices Market Trends
5. Major Intravenous Therapy And Vein Access Devices Market Drivers
……
25. Key Mergers And Acquisitions In The Intravenous Therapy And Vein Access Devices Market
26. Top Intravenous Therapy And Vein Access Devices Companies
27. Intravenous Therapy And Vein Access Devices Market Opportunities And Strategies
28. Intravenous Therapy And Vein Access Devices Market, Conclusions And Recommendations
29. Appendix
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