(PharmaNewsWire.Com, December 19, 2020 ) According to the new market research report ”IV Equipment Market by Product (Infusion Pump, Catheter, Solution and Blood Administration Set, Securement Device, Cannula, Stopcock, Needleless Connector), End User (Hospitals & Clinics, Homecare, Ambulatory Care Center) - Global Forecast to 2022", The overall IV equipment market is expected to grow from USD 10.07 billion in 2017 to USD 13.64 billion by 2022, at a CAGR of 6.2% from 2017 to 2022.
Intravenous (IV) therapy devices are used to administer liquid substances directly into a vein. They can deliver nutrients or medications such as insulin or other hormones, antibiotics, chemotherapy drugs, and pain relievers. Presently, many companies are developing various infusion devices capable of being integrated with alarm devices, monitoring devices, and data exchange systems.
The following are the major objectives of the study.
- To define, describe, and forecast the global IV equipment market on the basis of product, end user, and region
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, challenges, and trends)
- To strategically analyze micromarkets1 and subsegments with respect to individual growth trends, future prospects, and contributions to the overall market
-To analyze the opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders
-To forecast the size of the IV equipment market, with respect to four main regions—North America, Europe, Asia-Pacific, and the Rest of the World
-To profile the key players and comprehensively analyze their core competencies2 in terms of key market developments, product portfolios, market share analysis, and financials
-To track and analyze competitive developments such as agreements, collaboration, acquisitions, product launches, and R&D activities of leading players in the global IV equipment market
This integration helps prevent an overdose or reduced dose of infusion solutions to patients and minimizes dosing errors. Major players in the market are focusing on achieving system interoperability of the IV equipment such as infusion pump with EHR technology. The base year considered for the study is 2016, and the forecast has been provided for the period between 2017 and 2022.
Intravenous (IV) therapy devices are used to administer liquid substances directly into a vein. They can deliver nutrients or medications such as insulin or other hormones, antibiotics, chemotherapy drugs, and pain relievers. These devices offer significant advantages over manual fluid administration, including the ability to deliver fluids in very small volumes and at precisely programmed rates or automated intervals. These devices are also used for blood transfusion.
Region Covered in IV Equipment Market :
The IV equipment market in APAC is expected to grow at the highest CAGR during the forecast period. The demand for IV equipment and accessories in the APAC region is majorly driven by factors such as the large population base in the region, rising geriatric population, rising incidence of chronic diseases, improving accessibility to advanced healthcare facilities, rising healthcare spending, growing penetration of health insurance, increasing demand for advanced technologies, growing investments in emerging APAC countries by key market players, and expansion of private-sector hospitals to rural areas.
Becton, Dickinson and Company (U.S.), B. Braun Melsungen AG (Germany), Baxter Interanl Inc. (U.S.), Fresenius SE & Co. KGaA (Germany), ICU Medical, Inc. (U.S.), Smiths Medical (U.K.), C. R. Bard, Inc. (U.S.), Terumo Corporation (Japan), Moog, Inc. (U.S.), and AngioDynamics, Inc. (U.S.).
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