Peripheral Intravenous Catheters Market Size, Trends, Industry Analysis, Overview, Share And Forecast 2023 To 2030

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The global Peripheral Intravenous Catheters Market is estimated to be valued at US$ 7.4 Bn in 2023 and is expected to exhibit a CAGR of 8.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. 

Market Overview: 

Peripheral intravenous catheters are inserted into peripheral veins for administering fluids, medications and blood products. They are widely used in hospitals, clinics and ambulatory care settings for procedures such as fluid management, chemotherapy and blood transfusion. 

Market key trends:

Growing adoption of telehealth is one of the key trends fueling the peripheral intravenous catheters market. Due to the ongoing COVID-19 pandemic there has been a significant increase in the adoption of telehealth and telemedicine. Peripheral intravenous catheters play an important role in home healthcare services as they enable the administration of fluids and medications to patients remotely. This has boosted the demand for peripheral intravenous catheters from home healthcare agencies. According to Alliance for Connected Care, the number of patients using telehealth services increased by over 4,000% between March and April 2020. This rapid rise in telehealth adoption has created significant opportunities for peripheral intravenous catheter manufacturers.

Read More Insights: https://www.coherentmarketinsights.com/market-insight/peripheral-intravenous-catheters-market-3208

Segment Analysis

The global peripheral intravenous catheters market is dominated by the short peripheral intravenous catheters segment. Short peripheral intravenous catheters are inserted less than three inches deep into peripheral veins. They are preferred more as they allow for frequent access and are less painful for patients. They are useful for fast hydration, medication administration, and sample collection. 

Key Takeaways 

The global peripheral intravenous catheters market is expected to witness high growth, exhibiting a CAGR of 8.3% over the forecast period, due to increasing prevalence of chronic diseases such as diabetes, cancer and cardiovascular diseases. These diseases require continuous health monitoring and treatment which involves intravenous administration of medicines and fluids, driving the demand for peripheral intravenous catheters.

Regional analysis 

North America is expected to dominate the global peripheral intravenous catheters market over the forecast period. This is attributed to the rising patient population, advanced healthcare infrastructure and increasing number of surgical procedures in the region. For instance, according to the Centers for Disease Control and Prevention (CDC), by 2030, the prevalence of diagnosed diabetes in the U.S. is projected to increase from 25.2 million to 30.3 million. 

Key players

Key players operating in the peripheral intravenous catheters market are BD, ICU Medical, Inc., Surmodics, Inc., B. Braun SE, Greiner Bio-One International GmbH, Terumo Corporation, Vygon, Healthline Medical Products, Retractable Technologies, Inc., Nipro Medical Corporation, Medsource Labs., Argon Medical Devices., Integral Lifesciences Holdings Corporation, Intra Special Catheters GmbH, Medical Components, Inc., Merit Medical Systems., Heka s.r.l., RAUMEDIC AG, Cook, Teleflex Incorporated.

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