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IV Infusion Pump Accessories Market is segmented by product type such as IV Infusion Sets, IV Infusion Lines, IV Catheters, IV Cannulas, Needleless Connectors.
The global IV infusion pump accessories market is expected to grow at a steady rate to reach a significant valuation by the end of the assessment period. The IV infusion pump has been consistently expanding since past couple of years. In 2017, the global IV infusion pump accessories market reflected a value of around US$ 1.9 Bn and is expected to reach a valuation of more than US$ 2500 Mn by the end of the year of assessment. The global IV infusion pump accessories market is poised to register a CAGR of 4.5% throughout the period of forecast 2017-2025.
Increasing incidences of life threatening chronic diseases lead to increasing use of infusion systems worldwide. It is estimated that direct and indirect costs of smart infusion solutions will increase over a period of time. Currently, syringe infusion pumps, ambulatory infusion pumps, elastomeric infusion pumps and MRI-compatible infusion pumps are the main advanced products in IV infusion pumps industry as they have shown promising results with less dosage errors.
To develop cost effective IV infusion pumps and efficient medical devices, such as ambulatory pumps, MRI-compatible, and software, etc., various governments in developed countries are actively funding research and development activities.
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IV infusion sets segment in the product type category is anticipated to grow at the highest pace during the period of forecast, 2017-2025. The IV infusion sets segment is projected to grow at a stellar value CAGR of 6.1% during the said period thu8s gaining high momentum in the coming years.
However, this segment reflects a comparatively low market value than other segments and is the third largest in terms of market valuation. This segment valued at about US$ 350 Mn in 2016 and is estimated to reach a valuation of more than US$ 585 Mn by the end of the year of assessment, 2025.
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Get a Customized VersionIV infusion lines segment is anticipated to show higher revenue generation in the years to follow. This segment was the second largest in terms of value during 2012- 2017. This trend is expected to continue till 2024 and by the end of 2025, it is expected to capture the throne with a higher valuation of more than US$ 700 Mn by 2025 end. The IV catheters segment dominated the global market during 2012-2017 period and is expected to lead till 2024.
However, it is expected to lose momentum in 2024 when its sales would show a dropping graph owing to which IV infusion lines segment can surpass IV catheters segment by the end of the period of assessment. The IV catheters segment is projected to grow at a CAGR of 3.2%, whereas the IV infusion lines segment is expected to rise at a relatively high CAGR of 4.9% throughout the period of forecast, 2017-2025. The IV infusion lines and IV infusion sets segments are likely to be the most lucrative segments over the period of forecast with high market attractiveness.
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