IV Poles Market is expected to reach US$ 306.1 Million by the end of 2029
The global IV poles market is anticipated to be worth US$ 306.1 Million by 2029, with sales increasing at a 3.6% CAGR from 2022 to 2029. The IV poles market is expected to reach an estimated US$ 238.4 Million in 2022, spurred by the rising prevalence of chronic diseases, rapid expansion in the geriatric population, and an increase in the number of hospital beds to match the rising patient pool. Increasing healthcare spending globally also contributes to the growth of the IV poles market over the predicted period.
The growing number of hospitals worldwide, combined with rising healthcare costs, has created new potential opportunities for the IV poles industry. The increasing number of hospital beds has led in increased usage of IV poles for various applications in hospitals and clinics, fostering market growth for IV poles from 2022 to 2029.
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Furthermore, advances in technology, the prevalence of chronic diseases, and a focus on hospital development are boosting the adoption of hospital poles, which will likely drive the worldwide IV poles market. According to a recent survey conducted by The American Hospital Association, there are currently 6,093 hospitals in the United States, which includes community hospitals, Federal Government Hospitals, Nonfederal Psychiatric Hospitals, and others. This increase in the number of hospitals is not restricted to the United States, but is a global phenomena that will provide opportunities for IV Poles producers. All of these factors will benefit the target market during the forecast period.
“A surge in the number of hospitals across the world along with a heightened demand for IV poles from the same will stimulate the global growth of the IV poles market over the forecast period,” says an FMI analyst.
- Expanding healthcare infrastructure will strengthen market opportunities.
- High cost and stainless steel corrosion may hamper the market growth.
- Germany will account for 23.1% of Europe’s IV poles market by the end of 2022.
- In 2022, India will hold 53.7% of the market share in South Asia.
- In 2022, China’s IV pole market is likely to be valued at US$ 26.3 Million in the East Asia market.
- The stainless steel material segment will account for 62.5% of the market share in 2022.
- By product type, 4 hook top will hold 54.1% of the market share by the end of 2022.
- On the basis of end-user, hospitals will register a 3.4% CAGR over the assessment period.
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3M Healthcare, Medline Industries Inc., Cardinal Health, Medline Industries, Centicare Corporation, AliMed Inc, Mid Central Medical, A.M.G. Medical Inc., and Drive DeVilbiss Healthcare among others are some of the major players in the IV poles market profiled in the full version of the report.
Leading market players are employing tactics like strategic alliances. These enterprises are focusing on agreements, and partnerships and utilizing technological advancements to enhance their market share.
More Insights into IV Poles Market Report
In its latest report, FMI offers an unbiased analysis of the global IV poles market, providing historical data from 2014 to 2021 and forecast statistics for 2022 to 2029. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (2 hook top, 4 hook top, 6 hook top, 8 hook top), material (stainless steel, chrome plated steel, others), end user (hospitals, clinics, ambulatory surgical centers, nursing homes, long term care centers, homecare settings), and region.
According to the latest FMI reports, based on segmentation, the hospital segment is anticipated to acquire 66.1% of the overall market share in 2022 while recording a 3.4% CAGR during 2022-2029. The 4 hook top segment is predicted to continue its market domination by registering a high demand during the forecast period.
Based on region, the United States is anticipated to hold about 92.6% of the IV poles market share in North America. Increasing prevalence of chronic diseases, the growing geriatric population, and the presence of many large hospitals in the U.S. fuel the target market growth in this country. The rising healthcare expenditure coupled with suitable reimbursement policies for hospitalized patients will further supplement the market growth in the U.S. China, Germany, and India, too, will experience considerable growth in the IV poles market during the forecast period.
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