Peripheral IV Catheters Market Size, Share, Growth, and Industry Analysis, By Type (Safety, & Conventional), By Application (Hospitals, ASC, Clinics, Home Healthcare, & Others) and Regional Insights and Forecast to 2031

Updated On: 06 May 2024

PERIPHERAL IV CATHETERS MARKET REPORT OVERVIEW

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The global peripheral IV catheters market size was USD 4176.6 million in 2020 and will touch USD 5483.1 million by 2027, exhibiting a CAGR of 3.5% during the forecast period.

The peripheral IV catheters market is experiencing significant growth, driven by its essential role in healthcare settings. Serving as a crucial tool for intravenous therapy, peripheral IV catheters find widespread application in hospitals, clinics, and ambulatory care. The market expansion is propelled by the healthcare industry's continuous emphasis on patient care and medical interventions, with a focus on technological advancements, infection control measures, and patient comfort. Ongoing innovations in catheter materials, size options, and safety features contribute to the sustained demand for peripheral IV catheters.

Concurrently, the global market for electronic devices is witnessing notable traction, fueled by the increasing demand for connected and smart technologies. Electronic devices, including smartphones, wearables, and smart home systems, are gaining popularity as consumers seek convenient and innovative solutions for communication, entertainment, and daily tasks. The market's growth is driven by continuous improvements in device functionalities, expanding applications, and consumer-driven demand for seamlessly integrated and stylish electronic products. As technology continues to advance, the electronic devices market plays a crucial role in shaping the modern lifestyle and meeting evolving consumer preferences.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Lockdown Restrictions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has had a predominantly negative impact on the peripheral IV catheters market. As healthcare systems globally focused on addressing the surge in COVID-19 cases, there was a significant disruption in elective medical procedures, including non-essential intravenous catheter insertions. This led to a decline in the demand for peripheral IV catheters, affecting manufacturing, distribution, and overall market growth. Additionally, supply chain disruptions and resource reallocation towards pandemic-related healthcare needs further contributed to the negative impact on the peripheral IV catheters market. While the market is gradually recovering as healthcare systems stabilize, the initial setbacks and ongoing challenges indicate an overall negative influence of the pandemic on the peripheral IV catheters market.

LATEST TRENDS

"Emergence of Wireless Connectivity to Reshape the Market"

A notable trend in the peripheral IV catheters market is the increasing integration of wireless connectivity features. Innovations in medical technology have led to the development of smart peripheral IV catheters that can provide real-time data on patient vitals and catheter functionality. Wireless connectivity allows healthcare professionals to remotely monitor and manage intravenous therapy, enhancing patient care and reducing the need for frequent physical checks. This trend aligns with the broader shift toward digital health solutions, offering more efficient and streamlined processes in healthcare settings. As wireless connectivity continues to evolve, it is poised to play a pivotal role in shaping the future of peripheral IV catheter technologies.

PERIPHERAL IV CATHETERS MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorised into Safety, & Conventional.

Safety: These peripheral IV catheters incorporate additional features designed to reduce the risk of needlestick injuries and enhance patient and healthcare worker safety. These features often include mechanisms to retract or shield the needle after use, minimizing the potential for accidental needle exposures.

Conventional: These peripheral IV catheters represent the traditional design without the added safety features. While both types serve the primary function of delivering intravenous therapy, the Safety category addresses concerns related to needlestick injuries, making it particularly advantageous in healthcare settings where safety is a paramount concern.

• By Application

Based on application the global market can be categorised into Hospitals, ASC, Clinics, Home Healthcare, & Others.

Hospitals: It represents a major application area, accounting for a significant portion of peripheral IV catheter usage due to the diverse medical interventions conducted within hospital settings.

Ambulatory Surgical Centers (ASC): They utilize peripheral IV catheters for various outpatient procedures, offering a convenient and efficient means of intravenous therapy.

Clinics: Both standalone and those within larger healthcare facilities, rely on peripheral IV catheters for a range of medical treatments.

Home Healthcare: Here, peripheral IV catheters enable patients to receive intravenous therapy in the comfort of their homes, contributing to the growing trend of home-based medical care.

Others: This category encompasses diverse healthcare settings where peripheral IV catheters find application, reflecting the versatility of these devices in meeting a broad spectrum of medical needs.

DRIVING FACTORS

"Rising Demand for Minimally Invasive Procedures to Fuel the Market Growth"

A significant driving factor for the peripheral IV catheters market growth is the increasing demand for minimally invasive medical procedures. As healthcare trends shift towards less invasive interventions, peripheral IV catheters play a crucial role in providing efficient intravenous therapy without the need for more invasive measures. Their ease of use, reduced patient discomfort, and versatility in various medical settings contribute to their growing adoption. This driving factor aligns with the broader healthcare emphasis on patient-centered care and procedural efficiency.

"Technological Advancements to Drive Demand in the Market"

Technological advancements and innovations in safety features stand out as a key driving factor for the peripheral IV catheters market. With a focus on enhancing patient and healthcare worker safety, manufacturers are incorporating advanced technologies into peripheral IV catheter designs. Safety features such as retractable needles, passive shielding, and integrated safety mechanisms reduce the risk of needlestick injuries and improve overall catheter safety. This driving factor reflects the industry's commitment to continuous improvement in catheter design and the adoption of cutting-edge technologies to address safety concerns in healthcare settings.

RESTRAINING FACTORS

"Complications and Infections to Impede the Market Expansion"

One significant restraining factor for the peripheral IV catheters market is the risk of complications and infections associated with their use. Despite their widespread application, peripheral IV catheters can lead to issues such as infiltration, phlebitis, and bloodstream infections. These complications may result from factors like catheter material, insertion technique, and duration of use. In healthcare settings, where infection control is paramount, addressing these challenges becomes crucial. As the market seeks to enhance patient safety and reduce adverse events, the management of complications and infections remains a notable obstacle influencing the overall growth and adoption of peripheral IV catheters.

PERIPHERAL IV CATHETERS MARKET REGIONAL INSIGHTS

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"North America Leads the Market with Robust Healthcare Sector"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America emerges as the most dominant region in the peripheral IV catheters market share, largely attributed to its advanced healthcare infrastructure and high adoption of innovative medical technologies. The region boasts well-established hospitals, ambulatory surgical centers, and home healthcare facilities, contributing to a robust demand for peripheral IV catheters across diverse medical applications. The strong emphasis on patient safety and the adoption of cutting-edge medical devices further solidify North America's dominance in the market. Additionally, favorable reimbursement policies and a proactive approach to minimizing healthcare-associated infections enhance the widespread utilization of peripheral IV catheters, consolidating North America's prominent position in the global market share.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

Major industry players play a pivotal role in shaping the peripheral IV catheters market. These key players contribute to market dynamics by driving innovation, introducing advanced catheter technologies, and engaging in strategic collaborations. Their significant investments in research and development lead to the creation of safer and more efficient catheter designs, addressing the evolving needs of healthcare providers and patients. Additionally, the global presence and extensive distribution networks of these industry leaders facilitate the widespread adoption of peripheral IV catheters, influencing market trends, and contributing to overall market growth.

List of Market Players Profiled

• Tangent Medical Technologies (U.S.)
• Smith Medical (U.S.)
• B. Braun Melsungen (Germany)
• C. R. Bard (U.S.)
• Becton (U.S.)
• Dickinson and Company (U.S.)
• Argon Medical Devices (U.S.)

INDUSTRIAL DEVELOPMENT

October 2022: Catheter securement devices have been one of the several latest innovations in the market. These devices aim to prevent accidental dislodgement of IV catheters, a common issue that can lead to complications and treatment interruptions. Options include adhesive dressings with securement wings, stabilizing anchors, and even catheter anchoring balloons.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.