IV Equipment Market by Product (Infusion Pump, Catheter, Solution and Blood Administration Set, Securement Device, Cannula, Stopcock, Needleless Connector), End User (Hospitals & Clinics, Home Care, Ambulatory Care Center) – Global Forecast to 2022
The global IV equipment market is projected to reach $ 13.63 Billion by 2022, at a CAGR of 6.2% from 2017 to 2022. The market growth can be attributed to a number of factors number of surgical procedures performed, increasing number of needlestick injuries, and rising demand for ambulatory infusion pumps.
On the basis of end user, the market is classified into hospitals & clinics, home care, and ambulatory care centers. In 2016, the hospitals accounted for the largest share of the market. These devices are widely used in the field of high-priced IV devices.
In 2016, North America accounted for the largest share of the global IV equipment market, followed by Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Geriatric population, increasing prevalence of chronic illnesses, the presence of a well-established healthcare industry, growing demand for advanced medical treatments, the presence of major players, and increasing government healthcare expenditure.
The Asia-Pacific region is expected to witness the highest growth in the forecast period. Factors such as the presence of a large patient pool, increasing geriatric population, increasing utilization of technologically advanced IV products, increasing healthcare expenditures, growing healthcare expenditures, growing healthcare infrastructure and increasing per capita income are driving the growth of the IV equipment market in the Asia-Pacific region.
Patient safety risks are associated with infusion pumps leading to product recalls.
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The major players in the IV equipment market are Becton, Dickinson and Company (US), B. Braun Melsungen AG (Germany), Baxter International Inc. (US), Fresenius SE & Co. KGaA (Germany), ICU Medical, Inc. (US), Smiths Medical (UK), Moog, Inc. (US), Terumo Corporation (Japan), CR Bard, Inc. (US), and AngioDynamics, Inc. (US).
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