Intravenous System Access Devices Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of intravenous system access devices market by by product type (implantable port, intravenous catheter, hypodermic needles, infusion pumps), application (medication administration, fluid and nutrient administration, blood transfusion), end user (hospitals, clinics) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the intravenous system access devices market it includes the five years Industry analysis and the 6 years annual forecast from to 2027.
Some of the prominent participants in the global intravenous system access devices market are B. Braun Melsungen AG, Becton, Dickinson and Company, Smiths Medical, Inc., Terumo Corporation, Teleflex Medical Inc., Edwards Lifesciences Corporation, Medical Components, Inc., ICU Medical Inc., Fresenius Medical Care Ag & Co KGaA, and C.R.Bard, Inc.. The global intravenous system access devices market is projected to grow at a CAGR of 7.82% over the forecast period of 2021-2027, growing from more than USD 16.8 billion in 2021 to about USD 26.5 billion in 2027.
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Intravenous System Access Devices Market: Drivers, Restrain and Opportunities
The increasing prevalence of chronic disorders such as cardiac diseases, cancers, and cystic fibrosis is majorly driving the growth of the market. The intravenous system access devices are widely used for diagnostic, and therapeutic purposes in several chronic health conditions. Moreover, the growing geriatric population across the world is further contributing to the growth of the market. The aging population needs more attention and care while operating certain medical procedures. Elderly people are more susceptible to chronic disorders, which require treatments that use intravenous system access devices.
In addition, the growing demand for intravenous devices is anticipated to augment the growth of the intravenous system access devices market. However, the complications associated with intravenous access devices are expected to hinder the market growth. Many problems such as central vein damage, injury, bleeding, and hematoma arise during administering the intravenous access devices. Nevertheless, R&D activities to develop innovative intravenous system access device products are anticipated to offer growth opportunities to the market players.
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The North American Region Accounted for the Largest Share in the Global Intravenous System Access Devices Market
In terms of region, the global intravenous system access devices market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The North American region accounted for the largest share in the global intravenous system access devices market. Domination of North America is mainly attributed to the higher incidence rate of chronic disorders such as cancer, and heart disease. Moreover, the growing geriatric population in North America is further augmenting the growth of the intravenous system access device market in the region.
On the other hand, the Asia Pacific intravenous system access device market is anticipated to grow at the fastest rate among the regions. The large patient pool in the Asia Pacific is majorly driving the growth of the intravenous system access devices market in the region. In addition, the improving healthcare sector and growing expenditure on healthcare in augmenting the demand for intravenous system access devices in the Asia Pacific.
Intravenous System Access Devices Market: Segmentation
The report on global intravenous system access devices market covers segments such as product type, application, and end user. On the basis of product type, the sub-markets include implantable port, intravenous catheter, hypodermic needles, infusion pumps, and others. On the basis of application, the sub-markets include medication administration, fluid and nutrient administration, blood transfusion, and diagnostics. On the basis of end user, the sub-markets include hospitals, clinics, and ambulatory surgery centers.
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=> Comprehensive analysis of global as well as regional markets of the intravenous system access devices.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2027.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.