Global Intravenous (IV) Therapy And Vein Access Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Global Intravenous (IV) Therapy And Vein Access Market Analysis
The intravenous therapy (IV) and vein access market is expected to register a CAGR of 5.0% over the forecast period.
The COVID-19 pandemic significantly impacted the market studied. Due to the sudden onset of the pandemic, initially, a short-term negative impact was seen on the market owing to the decreased patient visits to hospitals and clinics. However, due to ongoing R&D activities in IV therapies and the rising demand for medication administration at home, the market witnessed considerable growth in the post-pandemic phase. As per a March 2022 update by the Allergy & Asthma Network, monoclonal antibodies were given by intravenous (IV) or a single-dose injection to people diagnosed with COVID-19. The administration of medication or therapy through IV in patients with severe COVID-19 infection improved the clinical outcome and aided in a significant reduction of the mortality rate. Thus, these instances during the pandemic created a demand for IV treatments, which ultimately generated opportunities for intravenous therapy (IV) and vein access products among end users and impacted the market positively. It is further expected to contribute to the market growth over the forecast period.
Factors such as the increasing incidences of chronic diseases, the growing number of surgeries worldwide, the rising number of intravenous (IV) drug approvals, and increasing technological advancements in intravenous therapy (IV) and vein access are anticipated to fuel the market growth during the forecast period.
Intravenous therapy is used to deliver various medications for chronic conditions such as rheumatoid arthritis, Crohn's disease, osteoporosis, systemic lupus, multiple sclerosis, psoriasis, and gout. The increasing number of incidences of such chronic diseases and the growing number of surgeries worldwide is predicted to generate demand for intravenous therapy and vein access devices. According to OECD data updated in August 2022, 0.10 million surgeries were conducted in Portugal, followed by 0.05 million in Denmark, 0.033 million in Ireland, and 0.023 million in Norway, among other European nations, demonstrating the high number of surgeries in developed European countries.
In addition, as per an article by the Thoracic and Cardiovascular Surgeon Journal in June 2021, a total of 92,809 operations were classified as heart surgery procedures in the classical sense, of which 29,444 were isolated coronary artery bypass grafting procedures, 35,469 were isolated heart valve procedures, and the number of isolated heart transplantations increased by 2% to 340 in the previous year. Since IV therapies play a vital role in managing blood loss caused due to open-heart surgeries, and other surgeries, This is expected to lead to increased adoption of IV therapy and vein access procedures during and after surgeries. Hence, it is expected to accelerate the growth of the studied market.
Furthermore, the lunch of new products and activities by major players is predicted to fuel market growth. For instance, in April 2022, the FDA granted priority review to Genentech's Actemra (tocilizumab) intravenous (IV) for the treatment of COVID-19 in hospitalized adults who are receiving systemic corticosteroids and require supplemental oxygen, non-invasive or invasive mechanical ventilation, or extracorporeal membrane oxygenation (ECMO). In addition, in September 2021, B. Braun Medical Inc. launched its new CARESAFE IV Administration Sets with Optional AirStop. CARESAFE IV Sets are the first robust portfolio of IV administration sets in the United States market not made with polyvinyl chloride (PVC) and diethylhexyl phthalate (DEHP). Thus, such developments are expected to generate demand for IV poles for drug or therapy administration to patients and drive market growth over the forecast period.
However, complications associated with intravenous therapy and a lack of experienced healthcare professionals hinder the market's growth.
Global Intravenous (IV) Therapy And Vein Access Market Trends
Implantable Ports Segment Expected to Hold a Major Market Share
The implantable ports segment is expected to hold a major share of the market. Implantable ports are devices that are inserted under the skin and into a vein. They usually go in about an inch below the collarbone in the upper right chest for the withdrawal of blood or administration of drugs.
The major factors fuelling the segment's growth are the increasing number of technological advancements and the increasing adoption of implantable ports. For instance, in March 2022, physicians at the Clinica Porto Azul in Barranquilla, Colombia, successfully implanted PAVmed Inc.'s PortIO Intraosseous Infusion System in three patients. PortIO is the first implantable intraosseous vascular access device designed for long-term use and to eliminate the shortcomings associated with existing vascular access devices.
In addition, the use of implantable ports is increasing owing to the rising awareness of these devices among the patient population. For instance, in February 2021, BD-India launched a special educational program on chemo ports called PortShala on World Cancer Day, February 4th. These ports are used to deliver chemotherapy to cancer patients. The initiative focuses on upgrading information levels on implanting, administration, and maintenance of chemo ports among all cancer stakeholders and caregivers. Thus, the availability of technologically advanced products and rising awareness among the population regarding the devices is predicted to accelerate segment growth.
North America Expected to Hold a Significant Market Share
North America is expected to hold a major share of the market and it is predicted to continue the same growth trend over the forecast period. The major factors fuelling the market growth in the country are the increasing prevalence of chronic diseases and the growing number of surgeries, improved healthcare expenditure, and the rising number of technological advancements.
The increasing trend for rising healthcare expenditure in the United States is also predicted to propel market growth. Every year, the United States government and population spend a significant amount on healthcare. For instance, the health spending statistics published by OECD in August 2022, reported that in the United States, voluntary healthcare spending per capita accounted for USD 1,807, and out-of-pocket spending on healthcare also increased which accounted for USD 1,225 per capita in the past year. This, high spending on healthcare is anticipated to increase hospital development activities and hospital admissions for various chronic diseases. Simultaneously, it will contribute to the demand generation of IV therapy and vein access devices used by the end users. Therefore, the studied market is expected to witness growth during the analysis period.
Furthermore, several market players are engaged in implementing strategic initiatives, thereby contributing to the market's growth. For instance, in October 2022, NXgenPort, a Minnesota-based startup reported that the company is building an implantable chemo port that features added sensors and remote connectivity functions. The port is being developed with the aim to alert physicians regarding signs of infection, reduce hospitalizations, and gather important physiological data to improve patient outcomes. Such instances will significantly contribute toward increasing patient awareness regarding IV therapies and systems, augmenting the demand for intravenous therapy (IV) and vein access devices within the region. Thus, the market is expected to witness significant growth during the forecast period due to the abovementioned factors.
Global Intravenous (IV) Therapy And Vein Access Industry Overview
The intravenous (IV) therapy and vein access market is competitive with several global and international players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, mergers, and acquisitions. Some of the key players in the market include Becton, Dickinson and Company, Terumo Medical Corporation, Vygon SAS, Teleflex Incorporated, and Fresenius Kabi.
Global Intravenous (IV) Therapy And Vein Access Market Leaders
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Becton, Dickinson and Company
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Terumo Medical Corporation
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Vygon SAS
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Teleflex Incorporated
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Fresenius Kabi
*Disclaimer: Major Players sorted in no particular order
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Global Intravenous (IV) Therapy And Vein Access Market News
- Mar 2022: PAVmed Inc., a diversified commercial-stage medical technology company, reported that physicians at the Clinica Porto Azul in Barranquilla, Colombia, successfully implanted the company's PortIO Intraosseous Infusion System in three patients, the first human implants of the device, as part of its IRB-approved first-in-human (FIH) clinical study of up to 40 patients.
- Feb 2022: Access Vascular Inc. (AVI) entered a partnership with Healthcare Insights (HCIS) to build a value-based care program that can more broadly support hospital customers as they deploy the company's biomaterial-based catheters to improve vascular access to medical and economic outcomes.
Intravenous Therapy & Vein Access Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Incidences of Chronic Diseases and Growing Number of Surgeries Worldwide
- 4.2.2 Increasing Technological Advancements in IV Therapy Devices
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4.3 Market Restraints
- 4.3.1 Complications Associated with Intravenous Therapy
- 4.3.2 Lack of Experienced Healthcare Professionals
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Type
- 5.1.1 Infusion Pumps
- 5.1.2 Intravenous Sets
- 5.1.3 Implantable Ports
- 5.1.4 Central Venous Catheters
- 5.1.5 Other Products
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5.2 By Application
- 5.2.1 Volume Expander
- 5.2.2 Medication Administration
- 5.2.3 Blood-based Products
- 5.2.4 Other Application Types
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5.3 By Distribution Channel
- 5.3.1 Hospital Pharmacies
- 5.3.2 Retail Pharmacies
- 5.3.3 Other Distribution Channel
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Polymedicure
- 6.1.2 Becton, Dickinson and Company
- 6.1.3 Tekni-Plex
- 6.1.4 Terumo Medical Corporation
- 6.1.5 Vygon SAS
- 6.1.6 Teleflex Incorporated
- 6.1.7 Fresenius Kabi
- 6.1.8 Smiths Medical, Inc.
- 6.1.9 Medtronic plc
- 6.1.10 Iradimed Corporation
- 6.1.11 ICU Medical, Inc
- 6.1.12 Baxter International
- 6.1.13 B. Braun Melsungen AG
- 6.1.14 AngioDynamics
- 6.1.15 Cardinal Health
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityGlobal Intravenous (IV) Therapy And Vein Access Industry Segmentation
As per the scope of the report, intravenous (IV) therapy is a method to administer fluids into the body via the blood vessels. The venous access method is referred to as a method used to access the bloodstream through the veins to administer intravenous therapy, among other uses.
The Intravenous (IV) Therapy and Vein Access Market is Segmented by Type (Infusion Pumps, Intravenous Sets, Implantable Ports, Central Venous Catheters, and Other Products), Application (Volume Expander, Medication Administration, Blood-based Products, and Other Application Types), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Other Distribution Channels), Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (USD million) for the above segments.
| By Type | Infusion Pumps | |
| Intravenous Sets | ||
| Implantable Ports | ||
| Central Venous Catheters | ||
| Other Products | ||
| By Application | Volume Expander | |
| Medication Administration | ||
| Blood-based Products | ||
| Other Application Types | ||
| By Distribution Channel | Hospital Pharmacies | |
| Retail Pharmacies | ||
| Other Distribution Channel | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Intravenous Therapy & Vein Access Market Research FAQs
What is the current Global Intravenous (IV) Therapy And Vein Access Market size?
The Global Intravenous (IV) Therapy And Vein Access Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
Who are the key players in Global Intravenous (IV) Therapy And Vein Access Market?
Becton, Dickinson and Company, Terumo Medical Corporation, Vygon SAS, Teleflex Incorporated and Fresenius Kabi are the major companies operating in the Global Intravenous (IV) Therapy And Vein Access Market.
Which is the fastest growing region in Global Intravenous (IV) Therapy And Vein Access Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Intravenous (IV) Therapy And Vein Access Market?
In 2024, the North America accounts for the largest market share in Global Intravenous (IV) Therapy And Vein Access Market.
What years does this Global Intravenous (IV) Therapy And Vein Access Market cover?
The report covers the Global Intravenous (IV) Therapy And Vein Access Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Intravenous (IV) Therapy And Vein Access Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Global Intravenous (IV) Therapy And Vein Access Industry Report
Statistics for the 2024 Global Intravenous (IV) Therapy And Vein Access market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Global Intravenous (IV) Therapy And Vein Access analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
