Intravenous Therapy And Vein Access Devices Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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The intravenous therapy and vein access' devices market has been experiencing substantial growth in recent times. It is projected to increase from $28.45 billion in 2023 to $30.65 billion in 2024, reflecting a compound annual growth rate CAGR of 7.7%. This growth during the historic period is attributed to the expansion of hospital infrastructure, increasing intensive care units ICUs, surge in medical R&D activity, along with a rise in the older population.

What is the Forecast for the Intravenous Therapy and Vein Access Devices Market Size?

The intravenous therapy and vein access devices market is set to experience robust growth in the forecasted years. It is projected to reach $41.52 billion by 2028, at a compound annual growth rate CAGR of 7.9%. This growth during the forecast period can be accredited to the rise in surgical procedures, the emergence of biodegradable materials, strengthened infection control measures, increasing healthcare expenditure, and an upward trend in cases of chronic diseases.

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What is Driving Growth in the Intravenous Therapy and Vein Access Devices Market?

The increasing number of surgical procedures is expected to significantly aid the growth of the intravenous therapy and vein access devices market. The escalating demand for elective surgeries such as cosmetic procedures, plastic surgery, and rhinoplasty ties directly into enhancing the market for surgeries. Intravenous therapy and vein access devices play a crucial role in surgical procedures for the administration of anesthesia, medications, fluids, and nutrients; they also ensure patient stability and provide for rapid intervention when necessary. As an example, in December 2023, according to the Australian Institute of Health and Welfare, a government agency based in Australia, patient admissions for surgeries from public hospital elective surgery waiting lists in the 2022-23 period were 735,500, reflecting an 18% increase compared with the previous year, 2021-22. Therefore, the increasing number of surgical procedures is propelling the growth of the intravenous therapy and vein access devices market.

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Who are the Major Players in the Intravenous Therapy and Vein Access Devices Market

Major companies operating in the intravenous therapy and vein access devices market include Cardinal Health Inc., Johnson & Johnson Services Inc., 3M Company, Medtronic plc, Becton, Dickinson and Company, Baxter International Inc., B. Braun Holding GmbH & Co. KG, Fresenius Kabi AG, Terumo Corporation, Mindray Medical International Limited, Moog Inc., West Pharmaceutical Services Inc., ICU Medical Inc., Insulet Corporation, Merit Medical Systems Inc., Avanos Medical Inc., Vygon SAS, NxStage Medical Inc., AngioDynamics Inc., Elcam Medical Inc., Zyno Medical LLC, and Sippex.

Emerging Trends in the Intravenous Therapy and Vein Access Devices Market

Major companies in the intravenous therapy and vein access devices market are developing innovative short peripheral intravenous catheters to improve patient comfort, reduce complications related to insertion, and enhance the efficiency of medication delivery. Short peripheral intravenous catheters provide a speedy and efficient mode of delivering fluids, medications, and nutrients directly into the bloodstream while minimizing patient discomfort, reducing risk of infection, and providing easy and reliable venous access for various medical treatments. In a recent example, B. Braun, a Germany-based medical device company, launched the Introcan Safety 2 IV Catheter in October 2023. This is a short peripheral intravenous catheter with passive needle-stick prevention and a Multi-Access blood control septum aimed at enhancing clinician safety.

Market Segmentations: Intravenous Therapy And Vein Access Devices

The intravenous therapy and vein access devices market report segments the market based on:
1 By Type: Intravenous IV Therapy And Vein Access Implantable Ports, Intravenous IV Therapy And Vein Access Intravenous Catheters, Hypodermic Intravenous IV Therapy And Vein Access Needles, Intravenous IV Therapy And Vein Access Infusion Pumps, Other Types.
2 By Application: Volume Expanders, Medication Administration, Blood-Based Products, Nutrition And Buffer Solutions.
3 By End Use: Hospitals, Clinics, Ambulatory Surgical Centers.

Regional Insights of the Intravenous Therapy and Vein Access Devices Market

North America was the largest region in the intravenous therapy and vein access devices market in 2023. The regions covered in this detailed report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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