IV Equipment Market growing at a CAGR of 6.2% during the time 2018-2023

Posted by Shiva on July 30th, 2019

IV Equipment Market Introduction:

IV Equipment Market is valued USD 10.15 billion in 2018 and expected to be growing at a CAGR of 6.2%, to reach USD 13.71 billion by 2023. Intravenous therapy is the mix of liquid constituents directly into a vein. Intravenous (IV) means inside vein. Intravenous infusions are commonly referred to as drips. The intravenous route is the fastest way to deliver fluids and medications all over the body.

IV Equipment Industry Drivers and Restraints:

The key reasons are driving the growth of this market consist of the rising occurrence of chronic diseases, a fast increase in the aging population, and an increasing number of surgical procedures. An aging population suffering from chronic diseases, especially in developed regions, is estimated 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. However, increasing 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.

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The Global market for IV Equipment is segmented on the basis of Product, End User and region. Based on product, the market is segmented into IV Catheters, Administration Sets, Infusion Sets, Securement Devices, Stopcocks and Check Valves, Drip Chambers, Needleless Connectors, Other IV Equipment. The IV catheters segment is expected to have the major share of the IV Equipment Market in 2018.  Based on End User, the market is segmented into Hospitals and Clinics, Home Care, Ambulatory Care Centers.

Geographically, the IV Equipment market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East Asia.

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Regional Presence of the Market:

North America is expected to constitute the most significant share in the market, while the Asia Pacific region is estimated to witness the quickest growth and overtake North America, being the second biggest shareholder for the market throughout the forecast period.

Important market players:

A few of the major companies operating in the global IV equipment market 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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