The Peripheral Intravenous Catheter Market is projected to grow from USD 6,484.00 million in 2024 to USD 11,224.28 million by 2032, reflecting a compound annual growth rate (CAGR) of 7.10%.The global Peripheral Intravenous Catheter (PIVC) market has seen significant growth in recent years, driven by the increasing prevalence of chronic diseases, the aging population, and the rising demand for minimally invasive procedures. Peripheral Intravenous Catheters are small, flexible tubes inserted into a peripheral vein, typically in the arm or hand, to administer medications, fluids, or draw blood. These catheters are critical in healthcare settings, from emergency care to routine hospital procedures, making their market one of the essential segments in the medical devices industry.
Browse the full report at https://www.credenceresearch.com/report/peripheral-intravenous-catheter-market
Market Drivers
1. Rising Prevalence of Chronic Diseases
The global burden of chronic diseases, such as diabetes, cancer, and cardiovascular disorders, has been steadily increasing. These conditions often require long-term management, including regular intravenous (IV) therapy. The need for effective and reliable venous access devices, such as PIVCs, has thus become more pronounced. As healthcare systems across the world grapple with the growing demand for chronic disease management, the PIVC market is poised to benefit significantly.
2. Growing Geriatric Population
The world is witnessing a demographic shift with an increasing number of elderly individuals. The aging population is more susceptible to chronic diseases and often requires repeated hospital visits, surgeries, and long-term care. This demographic trend is a key driver for the PIVC market, as elderly patients frequently need intravenous access for various treatments.
3. Advancements in Technology
Innovations in catheter design and materials have enhanced the safety and efficacy of PIVCs. For instance, the development of safety-engineered catheters with features like retractable needles and closed systems has reduced the risk of needlestick injuries and infections. Furthermore, the use of advanced materials like polyurethane and silicone has improved catheter flexibility and patient comfort, driving the adoption of these devices in clinical settings.
4. Demand for Minimally Invasive Procedures
There is a growing preference for minimally invasive procedures in the medical field, driven by their advantages, including reduced patient discomfort, shorter recovery times, and lower risks of complications. PIVCs play a crucial role in these procedures, providing reliable venous access with minimal trauma. The increasing adoption of minimally invasive techniques is, therefore, contributing to the expansion of the PIVC market.
Challenges and Opportunities
While the PIVC market is growing, it faces challenges such as the risk of catheter-related bloodstream infections (CRBSIs) and the high cost of advanced PIVCs. However, these challenges also present opportunities for innovation. Companies are investing in research and development to create PIVCs with improved safety features and infection control mechanisms. Additionally, the rise of home healthcare services is expected to open new avenues for market growth, particularly for portable and easy-to-use PIVCs.
Key Player Analysis
- Terumo Corporation
- R. Bard, Inc.
- Teleflex Incorporated
- Braun Melsungen AG
- Argon Medical Devices, Inc.
- Venner Medical
- Vygon
- Smiths Group plc.
- NIPRO Medical Corporation
- Becton, Dickinson, and Company
Segments:
Based on Product Type:
- Short Peripheral IV Catheter
- Ported PIVC
- Non-Ported PIVC
- Integrated/Closed PIVC
- Closed with Extension Sets
- Closed PIVC
Based on Technology:
- Conventional PIVC
- Safety PIVC
- Closed with Extension Set
- Active PIVC with Blood Control
- Passive PIVC with Blood Control
- Active PIVC
- Passive PIVC
Based on End User:
- Hospitals
- Ambulatory Surgical Centers (ASCs)
- Clinics
- Home Use
- Others
Based on the Geography:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
Browse the full report at https://www.credenceresearch.com/report/peripheral-intravenous-catheter-market
About Us:
Credence Research is committed to employee well-being and productivity. Following the COVID-19 pandemic, we have implemented a permanent work-from-home policy for all employees.
Contact:
Credence Research
Please contact us at +91 6232 49 3207
Email: sales@credenceresearch.com
Website: www.credenceresearch.com