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Peripheral IV Catheter Market

Growing Incidence of Coronary Heart Diseases and Rising Awareness on Hospital-Acquired Infections will propel the Growth of the Overall Peripheral IV Catheter Market

Peripheral Intravenous Catheter Market Segmented By Short Peripheral Intravenous Catheter, Ported Peripheral Intravenous Catheter, Non-ported Peripheral Intravenous Catheter, Integrated/closed Peripheral Intravenous Catheter by Conventional Peripheral Intravenous Catheter and Safety Peripheral Intravenous Catheter Technology

Peripheral IV Catheter Market Outlook (2023-2033)

Worldwide revenue from the peripheral IV catheter market was about US$ 5.6 Bn in 2022, with the global market estimated to surge ahead at a CAGR value of 6.9% to reach a valuation of US$ 11.8 Bn by the end of 2033.

Peripheral IV Catheter Market Size (2023)

US$ 6.1 Bn

Projected Market Value (2033)

US$ 11.8 Bn

Global Market Growth Rate (2023-2033)

6.9% CAGR

Market Share of Top 5 Countries

56.7%

According to Persistence Market Research, short peripheral IV catheter segment of the market based on product secured a global market share of 66.4% in 2022.

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Sales Analysis of Peripheral IV Catheter Market from 2015 to 2022 Vs Market Outlook for 2023 to 2033

The market value for peripheral IV catheter market was approximately 68.0% of the overall ~US$ 8306.2 Mn of the global peripheral vascular devices market in 2022.

The global market for peripheral IV catheter recorded a historic CAGR of 6.4% in the last 7 years from 2015 to 2022.

Intravenous therapy generally uses peripheral intravenous catheters. A peripheral IV catheter enables direct blood entry and fast action of drugs. They are regularly applied to surgical patients, children, emesis patients, and older people who have trouble in swallowing pills. Furthermore this catheter used in patients with medical emergencies, patients who are under respiratory anaesthesia, and feeling unconscious.

Peripheral intravenous catheter insertion (PIVC) is a routine procedure in hospitals. Many hospitalized patients require at least one peripheral vascular implant. Peripheral vein catheters are required for administering intravenous drugs, blood products, infuscate solutions, and parenteral nutrition.

The peripheral intravenous (IV) catheter market size will benefit from increased healthcare spending and technological advances in the healthcare system. Additionally, the launch of new PIVC technologies will increase sales even more. The ability to pay for expensive medical treatments like catheterization will continue to be a key factor in the industry's expansion. The move for peripheral IV catheters is also expected to be driven by technological developments in catheterization methodology.

It is claimed that using more risk-free, non-irritating, and user-friendly materials will reduce associated side effects and dangers, hence expanding anticipated PIVC availability. Manufacturers have also started to make improvements to the PIVC design to avoid the problems that were introduced by early versions.

The global peripheral IV catheter market is thus likely to show high growth over the coming years a CAGR of 6.9% and reach a global market size of US$ 11.8 Bn by 2033.

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How Can Peripheral IV Catheter Market Product Manufacturers Grow?

Increasing Popularity of Closed/ Integrated Peripheral Intravenous Catheters”

Integrated peripheral intravenous catheters minimize internal pressures on the vein caused by healthcare professionals or workers handling the catheter to connect the extension set. Integrated catheters can be used to provide direct injections or connect to extra fluid tubing after insertion. This is done through a customized port that is placed upstream of the catheter itself to prevent the catheter body from rubbing against the internal vein wall. Therefore, less movement may be essential in minimizing vascular tunica intima irritation, which in turn reduces painful oedema, vessel swelling, infiltration or occlusion.

The market will expand due to an increase in the approval of parenteral drugs. The integrated peripheral intravenous catheter lowers the risk of contamination and infection by minimizing intervention and accidental disconnection due to the built-in extension tubing. These catheters feature a flat, rectangular front that is pressed up against the skin and a semi-circular rounded on top.

Additionally, integrated peripheral catheters impose less outward pressure on the vein than conventional entirely cylindrical-shaped catheters, which results in reduced phlebitis, discomfort, blockage, and internal swelling.

Due to all these positive features of the catheter, the popularity and demand among patients is continuously increasing.

For example,

  • In 22 September 2022, B. Braun Medical Inc. announced the acquisition of Starboard Medical, Inc. for innovative Clik-FIX catheter securement device portfolio.
  • Shockwave Medical, Inc. announced the availability of the Shockwave M5+ peripheral IVL catheter throughout the world on March 31, 2022, upon securing FDA approval and CE Mark clearance.

The introduction and development of novel technologies is expected to result in high adoption rate of products, which will drive market growth during the forecast period. Manufacturers are also focusing more on research and development to introduce more cost-effective and advanced technology as well as medical transportation of products.

The increasing R&D operations of key firms will eventually lead to the development of new technologies. These factors are increasing peripheral IV catheter acceptance and adoption, resulting in market expansion over the projection period.

Over the projection period, it is anticipated that the market would experience growth due to a rise in the use of peripheral intravenous catheters (PIVC) in the treatment of chronic conditions like coronary heart disease, and strokes that require hospitalization.

Over 230 million people have atherosclerotic lower extremity peripheral artery disease, which is associated with an increased risk of a variety of chronic health disorders, including leg outcomes such as amputation, coronary heart disease, and stroke. This information is from Circulation Research, 2021, Epidemiology of Peripheral Artery Disease and Polyvascular Disease.

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Can Demand Within the Market Be Affected in Any Way?

“Lack of Awareness on Safe Usage”

The lack of proper knowledge regarding the safe use of peripheral intravenous (IV) catheters further results in secondary infections as a result of hospital acquired infections (HAI) and needle stick injuries, which will impede market growth. Additionally, it is predicted that the painful insertion of these catheters will impede the market's overall expansion.

During the forecast period, the peripheral IV catheter market is expected to face challenges related to a lack of trained experts or a lack of knowledge regarding the usage of catheters.

On the other hand, the high cost of these catheters is forecasted to restrain market expansion.

Additionally, the market for peripheral IV catheter is anticipated to experience development barriers due to the numerous issues connected with these devices.

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Country-wise Insights

Why is the U.S. Peripheral IV Catheter Market Booming?

“Increasing Needlestick Injuries and Rising Incidence of Chronic Diseases”

In 2022, the United States held around 36.2% of the market share in the North American peripheral IV catheter market, and this is expected to continue throughout the forecast period.

In the United States, needlestick injuries from injection needles are a big problem for people who require regular injections. Handling, disassembling, or disposing of syringes and needles can cause percutaneous wound injuries or aponeurotomy from needlepoints. This catheter is simple to use and reduces the risk of wound damage and bleeding in patients.

For instance, according to The Centers for Disease Control and Prevention (CDC), reports in the U.S. there are about 3,85,000 needlestick injuries in the country per year. The advanced healthcare infrastructure in the U.S. and the region's high market share are both due to reimbursement coverage.

Will Japan Be a Lucrative Market?

“Increasing Chronic Conditions and Development in Medical Technology”

The Japan held around 3.7% market share of the global market in 2022.

In addition, Japan is confronted with the consequences of rising chronic disease rates and an ageing population. Rising healthcare expenses, the advancement of medical technology, and the rapid expansion of the medical tourism industry are all factors contributing to the market's growing demand. Furthermore, rising local manufacturers supplying this product at a lesser cost will promote regional market expansion during the forecasted period.

How is Germany Emerging as a Prominent Market?

“Implementation of National Guidelines for Prevention of Peripheral Venous Catheter (PVC) Related Infections in Germany”

Germany held the market share of about 6.2% in the global market in 2022.

In Germany, PVC management is generally well-organized. However, there is room for improvement in the case of PVC, particularly when it comes to product monitoring and application. There are some national rules in Germany for the benefit of the public. Catheter use is increasing in Germany as a result of variables such as increased hospital admissions, reimbursement rules, and healthcare sector consolidation.

Furthermore, the availability of qualified professionals will support the country's market growth over the anticipated timeframe.

Category-wise Insights

Which Product is Driving Growth of the market?

“Demand to Remain High for Short Peripheral IV Catheter in the Market”

The short peripheral IV catheter products segment held around 66.4% share of the total market in 2022. The segment is anticipated to expand at a CAGR of 5.3% throughout the forecast period. This is due to the increasing prevalence of chronic conditions such as cancer, as well as the growing utilization of short peripheral IV catheters for chemotherapy treatments.

During oncology treatment, a short peripheral intravenous catheter is typically utilised to administer chemotherapy. Even though peripheral catheterization is an invasive method, a brief peripheral IV catheter is required for insertion and maintenance. Due to all of these benefits, short peripheral IV catheters have the largest market share.

Which Technology Drives Demand the Most within the market?

“Safe & Risk-Free Nature of PIVC Is Making It a Widely Preferred Technology”

In terms of revenue, the safety PIVC category accounted for around 71.8% of the overall market in 2022, and it is anticipated to expand at the highest CAGR of 7.8% over the forecast year.

Safety intravenous catheters provide blood management and reduce the risk of exposure to and contamination with blood. A valve inside the catheter hub inhibits blood flow from the vein when the patient is first given venipuncture. The risk of blood-borne pathogens being transmitted from the patient to the caregiver through contaminated bedding, gloves, dressings, and clothing is decreased by maintaining a clean access site.

Due to its minimum risk and greater safety, the end users highly prefer PIVC technology.

Which End User Settings Pose a Greater Adoption Of the Product Globally?

“Rising Rates of Surgical Procedures”

Hospitals accounted for the largest market share of 62.3% in the market for 2021, and it is anticipated that this segment will continue to dominate over the forecast period.

This is due to the massive increase in hospitalizations and the rise in the number of hospitals. The demand for the products in the hospital settings has increased. Doctors and healthcare professionals majorly use these catheters for drug delivery that reduce risk and enhance patient comfort.

Competitive Landscape

Key manufacturers are manufacturing technologically advanced products to strengthen their product lines around the world. Another notable technique observed in the industry is the expansion of corporate alliances in order to increase the sales of peripheral IV catheter products.

Similarly, some significant industry competitors have engaged in consolidation activities such as acquisitions and mergers.

For instance:

  • In December 2022, Access Vascular, Inc. (AVI) declared The HydroPICC dual-lumen 5-F catheter, which is manufactured from the company's hydrophilic biomaterial and Mimix technology.
  • B. Braun Medical Inc. announced the release of the Introcan Safety 2 IV Catheter with single-use blood control for July 2022. Using Introcan Safety 2 lessens the risk of blood exposure for medical staff and patients. It attempts to stop blood flow from the catheter hub once the needle has been withdrawn with its one-time Blood Control Septum till the initial attachment of a Luer access device.

Similarly, the team at Persistence Market Research has tracked recent developments related to companies manufacturing peripheral IV catheter, which are available in the full report.

Peripheral IV Catheter Market Industry Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2015-2022

Market Analysis

  • USD Million for Value
  • Volume in Units

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Argentina
  • Mexico
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia
  • BENELUX
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Turkey
  • GCC
  • North Africa
  • South Africa

Key Market Segments Covered

  • Product
  • Technology
  • End-User
  • Region

Key Companies Profiled

  • Becton, Dickinson and Company
  • B. Braun Melsungen AG
  • Smiths Group plc.
  • Terumo Corporation
  • Venner Medical
  • Vygon
  • Teleflex Incorporated
  • C. R. Bard, Inc.
  • NIPRO Medical Corporation
  • Argon Medical Devices, Inc.

Report Coverage

  • Market Forecast
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Segments Covered in Industry Research

By Product:

  • Short Peripheral IV Catheter
    • Ported PIVC
    • Non-Ported PIVC
  • Integrated/Closed PIVC
    • Closed with Extension Sets
    • Closed PIVC

By Technology:

  • Conventional PIVC
  • Safety PIVC
    • Closed with Extension Set
    • Active PIVC with Blood Control
    • Passive PIVC with Blood Control
    • Active PIVC
    • Passive PIVC

By End User:

  • Hospitals
  • Ambulatory Surgical Centers (ASCs)
  • Clinics
  • Home Use
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

- Companies Covered in This Report -

  • Becton, Dickinson and Company
  • B. Braun Melsungen AG
  • Smiths Group plc.
  • Terumo Corporation
  • Venner Medical
  • Vygon
  • Teleflex Incorporated
  • C. R. Bard, Inc.
  • NIPRO Medical Corporation
  • Argon Medical Devices, Inc.

- Frequently Asked Questions -

The global market is currently valued at around US$ 5.7 Bn in 2022.

Sales of the market are set to witness a high growth at a CAGR of 6.9% and be valued at US$ 11.8 Bn by 2033.

Demand within the market increased at 6.4% CAGR from 2015 to 2022.

The U.S., Canada, Germany, France, and Japan account for most demand for the market currently holding 56.7% market share.

The U.S. accounts for around 36.2% share of the global market in 2022.

B. Braun Melsungen AG, Becton Dickinson and Company and C. R. Bard, Inc. are the top three manufacturers of the market.

France accounts for around 4.4% share in global market in 2022.

Germany held a share of about 6.2% in the global market in 2022.

The Europe market is predicted to expand at 6.4% CAGR over the forecast period.

The current value of the Latin America market is US$ 420.8 Mn for the year, 2022.

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