Global Intravenous Access Devices Market to Reach US$46.5 bn by 2019 due to Rising Advancements in Vaccines
As per the report, the increasing occurrence of targeted diseases such as viral infections and cancers and technological developments in products are amongst the chief factors stimulating the market for intravenous access devices. In addition, factors such as the rising global aging population and rising advancements in vaccines will further augment the growth of the market for intravenous access devices. Furthermore, the increasing disposable incomes of consumers in developing countries and the increasing patient pool have emerged as key opportunities in the market. On the other hand, factors such as the absence of regulatory approvals for intravenous insulin infusion pumps within the key markets such as the U.S. market may impede the growth of the overall market. In addition, the risks involved in the usage of needles may also have a negative impact on the growth of the market.
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On the basis of product type, the market is segmented into intravenous catheters, intravenous needles, and intravenous infusion pumps. Amongst these, the segment of intravenous catheters is further segmented into midline peripheral catheters and central catheters. The segment of intravenous infusion pumps is further segmented into insulin fusion pumps, patient controlled analgesia (PCA) infusion pumps, parenteral feeding infusion pumps, and syringe infusion pumps. Amongst these, in 2012, on the basis of revenue, intravenous catheters held the largest share in the market and is predicted to expand at the greatest CAGR in the forecast horizon. This is due to their extensive utilization along with a number of other access devices such as needles and infusion pumps. In addition, the economical prices of intravenous catheters as compared to infusion pumps will further augment their demand.
The North American region accounted for the largest share by revenue for intravenous access devices in the year 2012 owing to large number of patient pool and geriatric population. However, Asia-Pacific is expected to show the highest growth rate of 9.4% from 2013 to 2019. This is attributed to rise in geriatric population, target diseases, increase in healthcare expenditure and improving healthcare infrastructure in the Asia-Pacific region. In addition, rise in disposable income due to economic development will also propel the growth of the market in the region since it will increase the purchasing power of individuals for various medical services such as surgeries.
As stated in the report, the prominent players dominant in the market are Becton, Dickinson and Company, Hospira, Inc., CareFusion Corporation, B. Braun Melsungen AG, Smiths Medical, and Baxter International, among others.
The global intravenous access devicesmarket has been segmented as below:
Intravenous Access Devices Market, by Product Types
Midline Peripheral Catheter
Midline Peripheral Catheters
Centrally Inserted Catheters
Intravenous Infusion Pumps
Intravenous Insulin infusion Pumps
Parenteral Feeding Infusion Pumps
Intravenous Patient Controlled Analgesia (PCA) Infusion Pumps
Intravenous Syringe Infusion Pumps