The Infinium Global Research analyzes the Intravenous System Access Devices Market over the period of 2017 to 2023. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global intravenous system access devices market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of intravenous system access devices. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the intravenous system access devices market during the period. The global intravenous system access devices market is projected to grow at a CAGR of 5.8% over the forecast period of 2017-2023.
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Intravenous system access devices are used for administration of drugs, blood transfusion, venous pressure monitoring and blood sampling.Intravenous therapy is an effective and fast-acting way to quick immune system response in an emergency situation as compared to oral mode of medication.Intravenous access devices include peripheral and central intravenous catheters.
Growing Number of Surgical Procedures Across the Globe Drives the Demand for Intravenous System Access Device Market
The increasing prevalence’s of chronic diseases, growing rate of road side accidents and growing number of surgical procedures across the globe drives the demand for intravenous system access device market. Increase in healthcare expenditure coupled with growth in geriatric population over the past few yearsis likely to aid the demand for market. Additionally, growing popularity about needleless administration of drug is also fueling the demand of market. Furthermore, advancement in technologies is further enhancing the growth of intravenous access devices market.
Intravenous System Access Devices Market: Segmentation
The global intravenous system access devices market bifurcated into product type, application, route of administration and end-users. Based on product type, the global intravenous system access devices market is categorized into peripheral catheter and central catheter. On the basis of application, the global intravenous system access devices market is categorized into medication administration, administration of fluids and nutrients, transfusion of blood products and diagnostic testing.
Medication administration segment accounted for the highest market share due to the high usage of IV therapy for transferring the medicines for diseases such as cancer, diabetes and many others.On the basis of route of administration, the global intravenous system access devices market is categorized into subcutaneous and intravenous. On the basis of end-users, the global intravenous system access devices market is categorized into hospitals, clinics and ambulatory surgery centers.
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North America Dominates the Growth of Intravenous System Access Device Market
Among the geographies, North America dominates the growth of intravenous system access device market followed by Europe. The factors such as developed healthcareinfrastructures, increasing incidences of cancer, diabetics and many other and use of the modern equipment with updated technologies is expected to escalating the growth of market. Moreover, Asia Pacific is anticipated to grow with highest CAGR during forecast period owing to improvement in healthcare infrastructure. Additionally, increasing road side accidents and rise in government investments for the R&D activities and development of better healthcare facilities drives the demand of market in this Asia Pacific region.
Intravenous System Access Devices Market: Competitive Analysis
Major players covered in the global intravenous system access devices market are, CareFusion Corporation, Smiths Medical,Teleflex Incorporated, BaxterInternationa, Becton, Dickinson & Company, Fresenius Medical Care AG & Co, KGaA, Braun Melsungen AG, Covidien Plc and Medtronic, Inc. Product innovation and merger and acquisition are key strategies to remain competitive and to gain greater market share.
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