The global IV Equipment Market is expected at a CAGR of 5%. Healthcare systems have been emphasizing affordability as well as the quality of medical services. However, now, digitization has come through, which would drive a revolution in the same healthcare vertical. 3D bioprinting technology is one such innovation, which is bound to simplify medications. This would be the way the healthcare vertical would go in the next 10 years.
Rising cases of needle stick injuries, the shift in demand towards ambulatory surgical centers and fusion pumps, and a greater number of surgical procedures performed are poised to benefit the IV equipment market. Furthermore, a prevalence of chronic diseases in an ageing population in developed nations are positive signs for the IV equipment market. However, lack of wireless connectivity, regulatory mandates for new product launches and increasing cases of medication errors inhibit the unencumbered growth of the IV equipment market that is anticipated to witness a steady CAGR of 5% from 2017 to 2025.
The IV catheter segment is the most popular in the IV equipment market and should remain so for the foreseeable future. The IV catheter segment is expected to be worth more than US$ 2.7 billion in 2017 itself and companies are recommended to target this segment with gusto. The infusion pump segment is a close second in the IV equipment market in terms of product type segment and is likely to be the biggest winner in terms of market share. Key stakeholders in the IV equipment market would do well to focus their energy on the Europe infusion pumps market as the region accounts for more than a third of the revenue contribution.
The securement device segment and stopclocks & valve segment have single digit revenue share in the IV equipment market. While the former is projected to lose market share, the latter is on track to gain share and companies may seek to take advantage of this. The stopcock & valves segment is estimated to grow with a CAGR of just under 6% from 2017 to 2022. Along with Europe, the stopcocks & valves segment has strong potential in APEJ.
The drip chamber and needleless connector segment have a revenue share of less than a tenth in the IV equipment market at the end of 2017. The needleless connector segment is predicted to lose substantial share in the near future while the drip chamber segment should fall slowly. The Europe drip chamber segment is assessed to grow past more than US$ 285 million at the end of the forecast period. The needleless connector segment also has the greatest potential in Europe. Along with Europe, companies could additionally target the North America needleless connector segment.
Hospitals hold the lion’s share in the IV equipment market by end user segment and are forecast to hold steady for the medium to long term. Hospitals are the most-well equipped to deal with any and every patient need pertaining to IV treatment. Europe is the largest region in the hospital segment of the IV equipment market but there is a close competition for the second place between APEJ and North America.
Scar Treatment Market is expected to surge from US$ 12 Bn in 2021 to US$ 16.7 Bn in 2031.
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