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Intravenous Therapy and Venous Access Devices Market Size: 2024–2034

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Intravenous Therapy and Venous Access Devices Market
Intravenous Therapy and Venous Access Devices Market

The global IV therapy and venous access devices market is expected to reach USD 28.7 billion by 2024. Revenue is expected to grow at a CAGR of 5.1% from 2024 to 2034. The market is estimated to be worth USD 47.3 billion by 2034. A new method of device placement and securing will help the patient avoid major venous access failures. In this study, new securing and placement technologies are evaluated for their effectiveness in preventing central venous catheter failures. Care of venous access devices is crucial, especially for patients undergoing long-term IV therapy. In addition to hygiene and troubleshooting instructions, it is also important to pay attention to signs of infection or failure.

Intravenous therapy, also known as intravenous therapy, involves injecting fluids, medications, or vitamins directly into the bloodstream. It is commonly used in a variety of healthcare settings, including hospitals, clinics, and homes. The use of venous access devices (VADs) makes IV therapy easier to manage. Peripheral IV lines are among the most commonly used VADs in IV therapy. Their simplicity, cost, and ability to treat short-term conditions make them a good option. However, they need to be replaced frequently to prevent headaches, infiltration, and phlebitis.

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IV therapy, especially IV nutritional therapy, can be helpful for people whose digestive problems prevent them from absorbing nutrients properly. Vitamins are administered intravenously to ensure maximum absorption by bypassing the digestive system. IV therapy using IV access devices can make patients more comfortable by reducing the pain associated with needle insertion. These devices can help deliver fluids and medications more reliably and safely, improving the overall patient experience.

“Advances in drug delivery systems and innovative devices will drive growth in the intravenous therapy and venous access device market. Combining IV Improvements and Continuous Development of IV Therapy and Venous Access Devices.“– says an analyst from FMI.

Key findings from the intravenous therapy and venous access device market:

  • The market for intravenous therapy and venous access devices generated a value of USD 21.9 billion in 2019.
  • The UK market is expected to experience a CAGR of 2.7% until 2034.
  • Spain is forecasted to achieve a compound annual growth rate (CAGR) of 4.4% over the forecast period.
  • The Australian market is expected to experience a compound annual growth rate (CAGR) of 3.5% from 2024 to 2034.
  • By type, intravenous catheters for intravenous therapy and venous access accounted for 32.5% of the market in 2023.

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Competitive environment:

Several companies are researching and developing smart infusion pumps that can measure and regulate infusion rates in real time. Using these devices improves accuracy and reduces the likelihood of errors in medication administration. Integrating excellent virtual healthcare solutions with intravenous therapy devices and venous access is possible thanks to the cooperation of technology companies.

Latest events:

  • In November 2023, BD (Becton, Dickinson and Company), a global leader in medical technology, introduced integrated catheters compatible with needle-free blood collection technology, further enabling the “one-puncture hospital stay.” In compliance with U.S. Food and Drug Administration (FDA) requirements, the Nexiva Closed IV IV Catheter System with NearPort IV IV Access is compatible for the first time with integrated and long peripheral IV catheters with the new PIVO Pro needle-free blood collection device.

Key players in the intravenous therapy and venous access device market:

  • BD (Becton Dickinson & Company)
  • B. Braun Holding GmbH & Co. KG
  • Terumo Medical Corporation
  • Teleflex Medical Inc.
  • Medtronic Inc.
  • Smith & Nephew Plc.
  • Angiodynamics Inc.
  • Pfizer Inc.
  • Insulet Corporation
  • Fresenius SE & Co. KGaA

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Intravenous Therapy and Venous Access Devices Market Segmentation:

By type:

Based on type, the industry is divided into: implantable therapeutic and venous access ports, therapeutic and venous access intravenous catheters, hypodermic intravenous and venous access needles, therapeutic and venous access infusion pumps, other venous access and venous devices. Implantable therapeutic and venous access ports can be further classified as single lumen implantable ports and double lumen implantable ports.

Therapy and Venous Access Intravenous catheters can be further divided into peripheral intravenous catheters, central intravenous catheters, and peripherally inserted central catheters.

By application:

In terms of applications, the industry can be divided into: bulk expanders, drug delivery, blood products, nutrition and buffer solutions.

By end use:

In terms of end use, the industry is divided into hospitals, ambulatory surgical centers, and clinics.

By region:

The report covers major countries in North America, Latin America, Western Europe, Eastern Europe, South Asia, East Asia, the Middle East and Africa.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner and member of the Greater New York Chamber of Commerce) offers in-depth insights into the factors driving market demand. FMI is a leading global provider of market intelligence, advisory services, consulting and events for the packaging, food and beverage, consumer technology, healthcare, industrial and chemical markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional and local expertise on various industry disciplines and trends in over 110 countries.

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