Peripheral Intravenous Catheter Market Key Players, SWOT Analysis, Key Indicators and Forecast
The global peripheral intravenous catheter market is expected to observe steady growth in 2016, reaching beyond US$ 3.8 Bn by 2016 end. Wide adoption of catheterisation techniques in patient examination, diagnosis, and treatment is anticipated to fuel the demand for PIVC. Rising disease prevalence will play a key role in driving the market growth. North America is likely to remain the largest market; Asia Pacific is expected to emerge at the fastest rate.
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Soaring disease prevalence will remain a prominent factor driving the demand for catheterisation, in turn pushing the market for PIVC. Apart from its usage in drug administration, increasing adoption of peripheral intravenous catheter in body fluid collection during a patient’s physical examination, is also identified to be a key driver to market growth. Prevalence of infections and epidemics are expected to further spur the demand for catheters in hospitals, clinics, ambulatory surgical centres, home healthcare units, and other healthcare centres. In addition to constantly enhancing healthcare infrastructure, the healthcare spending of consumers is also on the rise, which will favour the market growth.
Technological advancements in PIVC will particularly hold a positive impact on sales, boosting the market. Peripheral intravenous catheter is considered superior to its other counterparts, which will continue to drive adoption as a preferred option over other catheter types, eventually supporting the sales of PIVC. Moreover, there have been rising efforts toward manufacturing peripheral intravenous catheter using non-irritant, user-friendly material. Moreover, manufacturers are targeting PIVC design improvisation to eliminate the associated complications. This is projected to be a major factor positively influencing the market growth.
A few qualitative and technological complications associated with material composition, design, and after-effects of PIVC are expected to continue affecting mass adoption. In addition, market growth may be restricted due to expensive prices of peripheral intravenous catheter, especially in emerging economies. Conventional PIVC sales can also witness a drop owing to certain stringent medical device regulations in some of the developing countries.
By product, short peripheral intravenous catheter segment will remain dominant over integrated/closed peripheral intravenous catheter segment. Short PIVC segment is further sub-segmented into ported PIVC and non-ported PIVC. While short PIVC segment is expected to register the largest market share of over 71% in 2016, integrated/closed PIVC segment will witness significant Y-o-Y growth of 8.2%. Among the two sub-segments of short PIVC, non-ported PIVC is likely to remain dominant over ported PIVC.
On the basis of technology, safety peripheral intravenous catheter will continue to gain higher traction than conventional PIVC.
Based on end-user, hospitals segment is likely to generate the maximum PIVC demand. Ambulatory surgical units will also record decent demand. Peripheral intravenous catheter will register maximum revenue sales in 2016 in hospitals, accounting for over 60% market share. Ambulatory surgical units will remain the second most lucrative PIVC end-user segment.
By region, North America is expected to continue the leading position with around 45% share of the entire market revenues in 2016. Europe will continue to be the second largest market for PIVC with a value of over US$ 1.0 Bn in 2016. Asia Pacific is anticipated to emerge as the fastest growing region. Compared to a 5.8% of Y-o-Y of North America, APAC will witness a stronger Y-o-Y growth in 2017 over 2016.
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Increasing disease prevalence and rising incidences of infection will continue to spur the demand for catheterisation in hospitals, healthcare centres, ambulatory surgical centres, clinics, and home healthcare units. Soaring frequency of disease epidemics is anticipated to generate substantial demand for peripheral intravenous catheters in order to accomplish patient examination, diagnosis, and treatment. This is likely to include a larger share of PIVCs, compared to other catheters.Increasing Preference for Safety IV Catheters Primarily Drive Market
Increased spending on healthcare and advancements in healthcare infrastructure will continue to hold a positive influence on market growth. Moreover, the advent of PIVC technology will further boost the sales. Rising ability to afford expensive medical treatments, such as catheterization, will remain a key driver to market growth. User-friendly material composition of peripheral intravenous catheters compared to other counterparts, is another factor that makes them a preferred choice among physicians as well as patients.Product Innovation Remains at the Centre Stage for Key Market Players
Key companies in the global peripheral intravenous catheter market are B. Braun Melsungen AG, Becton Dickinson and Company, Vygon Group, C. R. Bard, Inc., Smith Medical, Tangent Medical, and Terumo Corporation. B. Barun recently featured one of their latest product advancements – Ster-ASSIST i.e. Sterile Peripheral IV Catheter Insertion Kit (30th Association for Vascular Access (AVA) Annual Scientific Meeting).Market Segmentation
To understand and assess opportunities in the global peripheral intravenous catheter market, we have divided the report into four sections based on market segmentation as under:
By Product Type
- Short PIVC
- Ported PIVC
- Non-ported PIVC
- Integrated/closed PIVC
- Conventional PIVC
- Safety PIVC
- Ambulatory surgical centres
- Home use
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
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