Even before we understand the peripheral intravenous catheters market, what are peripheral intravenous catheters? Hospitalised patients are sometimes exposed to situations where they can’t take in food or fluids directly, it is for therapeutic purposes such as administration of medicines, fluids, and / or blood products that peripheral intravenous catheters are primarily used. In addition to medication administration, peripheral intravenous (IV) catheters are used to withdraw blood from veins for testing. Vascular access commonly used the peripheral intravenous catheters. Medicines administered using them directly enter into the blood flow leading to instant relief. Any patient such as someone suffering from vomiting, paediatric patients, unconscious patients and elderly population who are unable to swallow medicines are treated with these devices for rapid action.
COVID – 19 will impact the global peripheral intravenous catheters market size. According to a report by Arizton the peripheral intravenous catheters market is expected to grow at a CAGR of over 4% during the period 2019-2025. Peripheral intravenous catheters market research suggests that the incidence of trauma cases such as accidents and burns, the ubiquity of chronic diseases and the infections acquired from hospitals ensure a steady growth of the market. Peripheral intravenous catheters market report allows us to conclude that the market growth is driven by increasing volume of hospitalization and the demand for chemotherapy procedures requiring intravenous catheters to deliver medicine, nutrition, and fluids to the patient. Another major driver influencing the growth of the peripheral intravenous catheters market is the demand for midline IV catheters. They are unique vascular access devices, which are inserted in the peripheral veins of the upper extremity. They terminate in the peripheral veins without extending into the central veins.
Based on technology type conventional catheters accounted for larger market revenue share in 2016. However, safety catheters expected to gain significant traction over the forecast period. Hospitals are the prime buyers of peripheral Intravenous catheters across the globe and expected to remain attractive over the forecast period. Players focusing on launching technologically advanced products to retain a market position in the global peripheral Intravenous catheters market. Key players profiled in the global Peripheral Intravenous Catheters Market include Argon Medical Devices Inc. (U.S), B. Braun Melsungen AG (Germany), Becton Dickinson and Company (U.S), C. R. Bard, Inc. (U.S), Medical Components Inc. (U.S), Smith Medical (U.S), Tangent Medical Technologies (U.S), Teleflex Inc. (U.S), Terumo Corporation (Japan), VIGMED AB (Sweden) and Vygon Group (France).
Peripheral intravenous catheters market research indicates important factors. Geographically, the peripheral intravenous catheters market size is bifurcated into North America, Europe, Asia-Pacific and Rest of the world (ROW). Currently, North America is leading the global peripheral intravenous catheters market and is followed by Europe. Factors such as the existence of a large pool of geriatric population, highly developed healthcare infrastructure, high healthcare spending and advancement in technology resulting in higher rates of surgical procedures in this region are boosting the growth of the peripheral intravenous catheters market in these regions. Asia-Pacific is the fastest growing market for peripheral intravenous (IV) catheters due to increasing disposable income, rapidly improving healthcare infrastructure and rapidly growing medical tourism industry in this region. In addition, countries such as China and India have the largest population pool in the world and thus the large geriatric population of both the countries will lead to an increasing patient population in the near future.
The high cost of catheters is hindering the growth of the peripheral catheter market to some extent. The high price of catheters increases the overall treatment cost, due to which patients, at times, prefer taking oral medications, instead to opting for treatment that involves the use of these catheters. Devoid of these minor restraints, the peripheral intravenous catheters market size will grow.
