Peripheral Intravenous Catheters Market Analysis| Coherent Market Insights

1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

2. PERIPHERAL INTRAVENOUS CATHETERS MARKET ANALYSIS Peripheral Intravenous Catheters Market,ByProduct Type (Short PIVC (Ported PIVC, Non- Ported PIVC), Integrated/Closed PIVC), By Technology (Conventional, Safety), By End User (Hospital, Ambulatory Surgical Centers, Clinics, Home Use, Others), and by Regions (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. The global peripheral intravenous catheter market is estimated to account for US$ 7,535.5 Mn in terms of value by the end of 2027. Drivers • Increasing prevalence of chronic diseases is expected to propel growth of the global peripheral intravenous catheter market over the forecast period. For instance, according to the World Health Organization, around 18.1 million new cases and 9.6 million deaths were registered due to cancer worldwide in 2018.

4. People aged 65 years or above are at high risk of various diseases and require peripheral IV catheters for administration of antibiotics and other medicines and for drawing blood for testing. Therefore, increasing geriatric population is also expected to boost growth of the market. For instance, according to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015. • North America region held dominant position in the global peripheral intravenous catheter market in 2018, accounting for 45.2% share in terms of volume, followed by Europe.

5. Figure 1.Global Peripheral Intravenous Catheter Market Value (US$ Mn), by Region, 2018

6. Market Restraints • Use of peripheral intravenous catheters is associated with complications such as blood exposure, which can occur due to needlestick injury and is especially hazardous during the treatment of patients with HIV and hepatitis. Other complications include, skin infections, redness, itching, and pain. Moreover, inadequate catheter stabilization can cause nerve injury. Such factors are expected to hinder growth of the global peripheral intravenous catheter market. • Moreover, high cost of advanced catheters is expected to hamper the market growth, especially in emerging regions such as Asia Pacific and Africa.

7. Market Opportunities • Integration of new alarm algorithm in healthcare settings can offer lucrative growth opportunities for players in the global peripheral intravenous catheter market. For instance, in October 2019, a study in Advances in Neonatal Care, the official journal of the National Association of Neonatal Nurses, reported that a ‘fuzzy logic’ alarm system may help nurses in the neonatal intensive care unit (NICU) predict impending catheter infusion failure. • Increasing funding for R&D in peripheral intravenous catheter is also expected to boost growth of the market. For instance, in December 2019, Griffith University received US$ 1.5 million in funding from the National Health and Medical Research Council for R&D in peripheral intravenous catheters.

8. Short PIVC segment in the global peripheral intravenous catheter market was valued at US$ 3,025.4 Mn in 2018 and is expected to reach US$ 4,693.7 Mn by 2027 at a CAGR of 4.9% during the forecast period.

9. Market Trends • In the recent past, the use of integrated/closed catheters has increased compared to short peripheral IV catheters, owing to enhanced patient outcomes.Integrated/closed catheters offer improved safety from various infections such as blood infection, skin infection, and vein injuries. Companies such as Becton, Dickinson and Company, B. Braun Medical Inc., and Tangent Medical Technologies manufacture integrated/closed catheters with safety technology. • The market is witnessing increasing use of polyurethane material for manufacturing of peripheral IV catheters compared to Teflon and silicone as polyurethane offers superior strength and additional qualities such as softening at body temperature and good flexibility.

10. Key Developments • Key players in the market are focused on raising funds to expand their product portfolio. For instance, in December 2019, Velano Vascular Inc. raised US$ 25 million for the commercialization of its peripheral intravenous catheter device that uses an existing peripheral IV line for a blood draw. • Key players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in November 2019, ICU Medical, Inc. entered into a definitive agreement to acquire Pursuit Vascular, Inc., a privately-held medical device company that develops catheters.

11. Competitive Section Major players operating in the global peripheral intravenous catheter market include, Becton, Dickinson and Company, B. Braun Melsungen AG, Smith Medical, Terumo Corporation, C. R. Bard, Inc., Tangent Medical, Velano Vascular Inc., and Vygon Group.

12. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst Reference: https://www.coherentmarketinsights.com/market-insight/peripheral-intravenous-catheters-market-3208

13. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

14. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

15. Thank You! Kindly follow CMI Social Media Profiles for the latest company updates Facebook Linkedin Twitter https://www.coherentmarketinsights.com/