Global Peripheral I.V. Catheter Market Size, Share, Development, Growth and Demand Forecast to 2022 – Industry Insights by Type (Short Peripheral I.V. Catheter and Integrated/Closed Peripheral I.V. Catheter), by Technology (Safety Peripheral I.V. Catheter and Conventional Peripheral I.V. Catheter), by Clinical Area (Oncology, Gastroenterology, Renal Diseases, Pediatric Diseases, Infectious Diseases and Others) and by End User (Hospitals, Clinics, Ambulatory Surgery Centers, Home Healthcare and Others)

Peripheral I.V. Catheter Market Overview

The global peripheral I.V. catheter market size is projected to reach $5.5 billion by 2022, growing at a CAGR of 6.0% during the forecast period. The market is driven by the growth of geriatric population, increasing prevalence of chronic as well as lifestyle associated diseases and technological advancements in peripheral I.V. catheters. In addition, the increasing demand for injectable drugs and increasing healthcare expenditure worldwide is also driving the growth of the market.

 

GLOBAL PERIPHERAL I.V. CATHETER MARKET SIZE BY TYPE $M (2012-2022)

 

In terms of type, the peripheral I.V. catheter market is segmented into short peripheral I.V. catheter and integrated/closed peripheral I.V. catheter. The short peripheral I.V. catheter segment accounted for largest share in the global market, and it is expected to retain its position by 2022 with 74.2% share, in terms of value. The integrated/closed peripheral I.V. catheter segment is projected to witness the fastest growth during the forecast period.

Based on technology, the peripheral I.V. catheter market is segmented into safety peripheral I.V. catheter and conventional peripheral I.V. catheter. The safety peripheral I.V. catheter segment accounted for largest share in the global peripheral I.V. catheter market, and it is expected to retain its position by 2022 with 70.2% share, in terms of value. The segment is also expected to witness the fastest growth during the forecast period.

Geographically, North America dominated the global peripheral I.V. catheter market during the forecast period and is expected to hold a market share of 45% by 2022. The North American market is growing due to the increasing prevalence of chronic as well as life style associated diseases in the region, increasing demand for injectable drugs, growing geriatric population and increasing healthcare expenditure. Among the North American countries, the U.S. peripheral I.V. catheter industry was the largest during the historical period and it is projected to grow at a CAGR of 6.5% during the forecast period, to reach $2.1 billion by 2022.

Peripheral I.V. Catheter Market Dynamics

Trends

The key trend observed in the peripheral I.V. catheter market is the easy availability and adoption of power-injectable closed catheters, which helps in injecting contrast media during CT imaging. The contrast media aids in enhanced visualization during the diagnostic procedures. These catheters are strong enough to withstand pressures that can be more than 300 psi. Hence, power-injectable closed catheters are used for CT imaging, as they are made of polyurethane material, which is much stronger than silicone and can withstand high pressures with a minimal decrease in flexibility. For example, BD Nexiva closed I.V. catheter of BD helps to inject contrast media for contrast-enhanced CT scans.

Opportunities

The adoption of peripheral I.V. catheters in the emerging economies is expected to provide a huge growth potential for the peripheral I.V. catheter market, during the forthcoming years. The growth will be driven by the increasing healthcare awareness, increasing healthcare spends, and regulatory initiatives for needle stick injuries. The countries, such as China, Brazil and India are still lacking primary healthcare facilities. The incidence rates of various chronic diseases are high in these countries. Moreover, various initiatives have been taken worldwide to create healthcare awareness and accelerate the adoption pace of safety devices with advance peripheral intravenous catheters, such as safety I.V. catheters in the region.

Growth Drivers

The healthcare expenditure is increasing worldwide, due to the increasing prevalence of diseases and innovation of new medical treatments. According to the WHO, the total healthcare expenditure is increasing globally, which is leading to the improvements in the healthcare infrastructure. This increase in healthcare expenditure leads to increased affordability and accessibility of the treatment for various conditions and thus driving the growth of the peripheral I.V. catheter market.

Restraints

The high cost of integrated/closed peripheral I.V. catheter acts as a major barrier in the growth of the peripheral I.V. catheter market. The high cost of catheter, in comparison to oral medication therapy makes them less affordable leading to their decreased adoption rate by the patient pool in developing countries is affecting the growth of the market.

Peripheral I.V. Catheter Market Competitive Analysis

The key companies operating in the global peripheral I.V. catheter market include Becton, Dickinson and Company, B. Braun Melsungen AG, Terumo Corporation, Smiths Medical Inc., Teleflex Incorporated, Tangent Medical Technologies Inc., C.R. Bard Inc., Argon Medical Devices Inc., VIGMED AB and Medical Components Inc.