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The IV Equipment market is segmented by-products such as IV Catheters, Infusion Pumps, Securement Devices, Drip Chambers, Stopcocks and Check Valves, Administration Sets, Needleless Connectors.
An ageing population suffering from chronic diseases, particularly in developed regions, is anticipated to demand ever-more surgical procedures. IV therapy is one of the best choices available and this should benefit companies in the IV equipment market. Strong economic growth in Latin America and APEJ are expected to provide significant growth opportunities for companies actively involved in the IV equipment market.
Nonetheless, rising prevalence of medication errors, strict regulatory requirements for new equipment and the absence of wireless connectivity in surgical centers and hospitals could stifle the growth in the IV equipment market. The IV equipment market is predicted to record a steady CAGR of 5.0% from 2017 to 2022.
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The IV catheter segment accounted for a revenue share approaching one-third of the IV equipment market by product type in 2017 and may gain market share going forward. The IV catheter segment is poised to be worth just under US$ 3.5 billion at the end of the forecast period in 2022, making it large enough for all stakeholders in the IV equipment market.
Infusion pumps follow IV catheters in the IV equipment market and have a revenue share of approx. a sixth in terms of product type segment. Europe is the largest region in the infusion pumps market as the continent has a well-developed medical infrastructure coupled with a geriatric population that would naturally demand such treatment.
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Get a Customized VersionA similar potential exists in the securement devices segment and the stopcocks & valve segments of the IV equipment market as they both have minimal revenue share in 2017. However, the securement devices segment is estimated to lose market share over the course of the forecast period while the stopcocks & valve segment is assessed to gain share. An absolute dollar opportunity of more than US$ 270 million exists in the stopcocks & valve segment of the IV equipment market from the year 2017 to 2022.
Along with Europe, companies are advised to target APEJ as the region could record the highest CAGR for the five-year study period. As the region becomes more affluent, consumers there might demand better healthcare services and IV equipment should ready to take advantage of this.
The drip chamber and needleless connector segment seem to be losing popularity as they represent a single digit revenue share in the IV equipment market and are still bleeding share. Therefore, it wouldn’t be surprising if companies in the IV equipment market decided to overlook these two product types entirely in favor of more lucrative options in the IV equipment market. A comparatively higher CAGR of more than 4.5% is likely to be witnessed in the drip chamber segment and companies are recommended to take this into account while formulating their strategies.
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Persistence Market Research has profiled a few of the companies in the IV equipment market. These include Becton, Dickinson and Company, B. Braun Melsungen AG, Fresenius SE & Co. KGaA, Baxter International Inc., Smiths Group, ICU Medical, C. R. Bard, Terumo Corporation, Moog Inc., and AngioDynamics.
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