Peripheral Intravenous Catheters PIVC Market Size, CAGR, Trends 2024-2030
Peripheral Intravenous Catheters PIVC Market Trends, Growth Opportunities, and Forecast Scenarios
The Peripheral Intravenous Catheters (PIVC) market is witnessing significant growth and market trends owing to the increasing prevalence of chronic diseases, rising demand for minimally invasive procedures, and a growing geriatric population worldwide. PIVCs are widely used in hospitals, clinics, and ambulatory care settings for administering medications, fluids, and blood products directly into the veins of patients.
One of the key market trends driving the growth of the PIVC market is the technological advancements in catheter materials and designs, leading to improved patient comfort, reduced risk of infection, and better insertion success rates. Additionally, the increasing awareness about the importance of preventing healthcare-associated infections is also boosting the demand for advanced PIVCs with antimicrobial and antithrombogenic properties.
Furthermore, the expanding healthcare infrastructure, especially in emerging economies, is creating lucrative growth opportunities for PIVC manufacturers and suppliers. The growing adoption of PIVCs in home healthcare settings and the increasing number of outpatient surgeries are also expected to drive market growth in the coming years.
Moreover, the rising focus on patient safety and the need for cost-effective healthcare solutions are propelling the demand for PIVCs globally. Market players are focusing on developing innovative PIVCs with features such as integrated securement devices, needleless connectors, and visual confirmation of catheter placement to enhance patient outcomes and reduce healthcare costs.
Overall, the PIVC market is poised for significant growth due to the increasing demand for quality healthcare services, advancements in catheter technology, and the expanding patient pool requiring intravenous therapy.
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Peripheral Intravenous Catheters PIVC Market Competitive Analysis
The Peripheral Intravenous Catheters (PIVC) market is highly competitive with key players such as BD Medical, . Bard, Smiths Medical, B. Braun Melsungen, Terumo Medical, and others. These companies offer a range of PIVC products and solutions to healthcare facilities worldwide. They utilize innovative technologies and advancements in materials to enhance patient comfort and safety during intravenous therapy. Through strategic partnerships, acquisitions, and product development, these companies contribute to the growth of the PIVC market. Sales revenue figures for a few of these companies: BD Medical - $8.94 billion, B. Braun Melsungen - $8.15 billion, Teleflex - $1.99 billion.
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In terms of Product Type, the Peripheral Intravenous Catheters PIVC market is segmented into:
Ported Peripheral Intravenous Catheters (PIVC) come with a port near the insertion site to allow additional medications to be administered without the need for multiple insertions. On the other hand, Non-Ported Peripheral Intravenous Catheters (PIVC) do not have this port and are typically used for single infusions. The availability of different types of PIVCs cater to the diverse needs of patients, leading to an increase in demand for these devices in the market. Ported PIVCs offer convenience and reduce the risk of infection, while Non-Ported PIVCs are cost-effective and easy to use, thereby contributing to their popularity among healthcare providers and patients.
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In terms of Product Application, the Peripheral Intravenous Catheters PIVC market is segmented into:
Peripheral Intravenous Catheters (PIVC) are commonly used in hospitals, clinics, ambulatory surgical centers (ASCs), and other healthcare settings to administer medications, fluids, and blood products directly into the bloodstream. PIVCs are inserted into a peripheral vein, usually in the arm, and are utilized for short-term use. The fastest growing application segment in terms of revenue is hospitals, as they have a high patient turnover rate and a constant need for intravenous access. PIVCs in hospitals are essential for delivering immediate care and ensuring quick and efficient medication administration to patients.
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Peripheral Intravenous Catheters PIVC Industry Growth Analysis, by Geography
The peripheral intravenous catheters (PIVC) market is expected to witness significant growth in regions such as North America (NA), Asia-Pacific (APAC), Europe, the USA, and China. North America and Europe are expected to dominate the market, with North America holding the largest market share at approximately 30%. The growing prevalence of chronic diseases, increasing healthcare spending, and advancements in medical technology in these regions are driving the growth of the PIVC market. Asia-Pacific, particularly China, is also expected to witness substantial growth due to the increasing geriatric population and improving healthcare infrastructure.
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