Global Peripheral Intravenous Catheter Market to Surpass US$ 7,535.5 Million by 2027, Says Coherent Market Insights (CMI)

SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global peripheral intravenous catheter market is estimated to be valued at US$ 4,881.1 million in 2020 and is expected to exhibit a CAGR of 6.4% over the forecast period (2020-2027).

Key Trends and Analysis of the Global Peripheral Intravenous Catheter Market:

Key trends in the market include increasing incidence of chronic and life threatening diseases such as chronic kidney diseases, cancer, cardiovascular diseases, and others, increasing approval and launch of novel products, increasing collaborations and acquisitions among key players. These are expected to drive the market growth.

According to 2018 annual report of the U.S Renal Data System (USRDS), around 750,000 patients per year in the U.S. are affected by kidney failure, which is also called end stage renal disease (ESRD). Moreover, according to the same source, around 2 million people worldwide suffer from end stage renal disease (ESRD).

Moreover, increasing approval of novel products is expected to drive the market growth over the forecast period. For instance, in March 2018, Smiths Medical received the U.S. FDA clearance for its DeltaVen Closed System Catheter, a product developed by Delta Med SpA. It provides an alternative means of infusion for adult and pediatric patients who need comfortable, adequate hydration in hospital or homecare settings.

Furthermore, key players operating in the global peripheral intravenous catheter market are focusing on adoption of inorganic growth strategies such as acquisition and collaboration in order to increase their presence in the global market. For instance, in November 2019, ICU Medical, Inc. acquired Pursuit Vascular, a medical device manufacturing company. As a result of this acquisition, ICU Medical, Inc. expanded its catheter portfolio in the global market.

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Key Market Takeaways:

• The global peripheral intravenous catheter market is expected to exhibit a CAGR of 6.4% over the forecast period, owing to increasing incidence of chronic diseases such as cardiovascular diseases, which is expected to drive the market growth over the forecast period. For instance, according to the World Health Organization 2017 report, approximately 17.9 million people died due to cardiovascular diseases (CVDs) in 2016, representing 31% of all global deaths, out of which around 85% deaths are caused due to heart attack and stroke.
• Among product type, integrated/closed PIVC segment is estimated to account for the largest market share in 2020, owing to increasing approval of novel products and launches of technologically advanced products
• Among end user, hospital segment is estimated to account for the largest market share in 2020, owing to increasing patient population suffering from chronic diseases.

Competitive Landscape:

Key players operating in the global peripheral intravenous catheter market include Becton, Dickinson and Company, B. Braun Melsungen AG, Smith Medical, Terumo Corporation, Tangent Medical, Velano Vascular Inc., Vygon Group, VOGT MEDICAL, RenovoRx, Retractable Technologies, Teleflex, and ICU Medical

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Market Segmentation:

• Global Peripheral Intravenous Catheter Market, By Product Type:
  • Short PIVC
    • Ported PIVC
    • Non-ported PIVC
  • Integrated/Closed PIVC
• Global Peripheral Intravenous Catheter Market, By Technology:
  • Conventional
  • Safety
• Global Peripheral Intravenous Catheter Market, By End User:
  • Hospitals
  • Ambulatory Surgical Centers
  • Clinics
  • Home Use
  • Others
• Global Peripheral Intravenous Catheter Market, By Region:
  • North America
    • By Country
      • U.S.
      • Canada
  • Latin America
    • By Country
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Europe
    • By Country
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
  • Middle East
    • By Country
      • GCC
      • Israel
      • Rest of Middle East
  • Africa
    • By Country/Region
      • South Africa
      • Central Africa
      • North Africa

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. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.