IV Pole Market: 4 Hook IV Pole Segment to Witness High Demand
Ntravenous (IV) poles are medical supportive tools widely used in healthcare settings such as hospitals, clinics, home healthcare, and others. IV pole carry bags and deliver the necessary medications to patients. IV medication is introduced to the patient through an IV injection. All IV pole designs contain hook at the top and wheels at the base. These designs differ by the accessories attached to them.
Key producers in the global IV poles market must optimize their marketing and distribution network and form strategic alliances with academic and corporate partners for enhanced innovation capabilities.
Global IV poles market will witness sustained growth at approximately 3.6% CAGR over the forecast period (2019-2029). Technological advancements, rising healthcare expenditure and number of hospitals is supplementing the growth of IV poles market. Moreover, Europe is projected to be the growth epicenter of IV poles market.
“Developed economic regions are witnessing increasing healthcare expenditure in view of enhanced government incentive towards better hospital infrastructure. This in turn is compelling the manufacturers to churn out IV poles extensively throughout the projection period,” projects the FMI report.
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Key Takeaways of IV Poles Market Study
- 4 hook top IV pole variant captures the majority revenue share in view of product portfolio diversification strategy undertaken by key players.
- Stainless steel remains the preferred material by manufacturers on account of widespread adoption.
- Hospitals will continue to be leading end-use segment of IV poles through the forecast period.
- Europe IV poles market accounts for 32.4% share in overall market stack.
- North America will generate noteworthy demand for IV poles through 2029.
IV Poles Market – Top Growth Drivers
- Presence of leading producers along with technological advancements is bolstering the growth of IV poles market in North America.
- Proliferation of hospitals continues to stimulate the demand for IV poles.
- Increasing healthcare expenditure is complementing the growth of IV poles market.
- Rise in production of specially-equipped IV poles for children’s wards, surgical areas and intensive care units is fuelling the market growth.
IV Poles Market – Key Restraints
- Transportation and storage of IV poles is a challenging endeavor which is limiting market growth.
- IV poles manufactured from stainless steel are prone to corrosion and have relatively high price point which is hindering the market growth.
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Competitive Landscape of IV Poles Market
Global IV poles market is a fairly fragmented landscape. Prominent companies featured in FMI’s comprehensive study include, but are not limited to, Medline Industries, Inc., Cardinal Health, 3M Company, Centicare Corporation, Mid Central Medical, A.M.G. Medical Inc., AliMed, and Drive DeVilbiss Healthcare. Premier companies in global IV Poles Market continue to prioritize mergers and acquisitions for delivering enhanced technological solutions to patients. For instance, Cardinal Health acquired mscripts (2019) which is intended to enhance the innovation capability of the company. On the other hand, companies such as Medline Industries, Inc. are focused on optimizing their distribution network along with bolstering their sales channels.
More about the Report
This Future Market Insights study of 238 pages offers actionable insights on the IV Poles market. The market analysis is based on product (2 hook top, 4 hook top, 6 hook top, and 8 hook top), material (chrome-plated steel, and stainless steel), end-use (homecare settings, long-term care centers, nursing homes, ambulatory surgical centers, clinics, and hospitals) across seven regions (Oceania, Middle East & Africa, South Asia, East Asia, Europe, Latin America, North America).
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