Global Intravenous Access Devices market to be Driven by Large Patient Pool in Developing Economies

Increasing global geriatric population has helped the growth of the global intravenous access devices market massively. The market was worth US$27.2 billion in 2012 and, owing to the positive growth at a CAGR of 7.8% between 2013 and 2019, the overall market is expected to be valued at US$46.5 billion by end of 2019.

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Chances of Infection will Negatively Affect Global Intravenous Access Devices market

Rise in the incidence of diseases such as cancer and viral infections are expected to boost the global intravenous access devices market. Intravenous access devices are increasingly used to administer strong medications for the treatment of such diseases. As these devices do not cause irritation and blood clots in the vein and also reduces the risk of inflammation caused due to multiple needle sticks, they are preferred by doctors and patients alike. The development of various new vaccines has also fuelled the global intravenous access devices market. Technological advancements in product design are expected to further enhance overall market growth.

As intravenous access devices open to the larger veins of the body, the chances of serious complications through infections such as bacterial endocarditis are high. The risks associated with the use of needles in intravenous access devices could negatively impact the global intravenous access devices market. Between 2005 and 2009, the U.S. Food and Drug Administration (FDA) received about 56,000 reports of injuries and death due to the use of intravenous insulin infusion pumps.

Though manufacturers have tried addressing the safety concerns related to the devices, the regulatory authority has put stringent terms for the approval of these devices, keeping public safety in view. This will further hamper the growth of the global intravenous access devices market. However, the large target patient pool and the rise in disposable income levels in emerging economies will open new opportunities for the overall market during the forecast horizon.

Peripherally Inserted Central Catheters Segment to Show Consistent Growth during 2013-2019

The global intravenous access devices market has been segmented on the basis of the products offered: intravenous catheters, intravenous needles, and intravenous infusion pumps. The intravenous catheters segment has been further divided into midline peripheral catheters and central catheters. Central catheters are used for administering IV fluids, medications, or blood products in large quantities over a long period of time. They are specifically used for administering medications which, if injected otherwise, would be harmful to the peripheral veins. Peripherally inserted central catheters (PICCs) are a type of central catheters that have been gaining preference over midline catheters as they have longer potential dwell-times. This product segment is expected to grow consistently during the period between 2013 and 2019.

Intravenous infusion pumps have been classified into parenteral feeding infusion pumps, syringe infusion pumps, insulin infusion pumps, and patient controlled analgesia (PCA) infusion pumps. The lack of regulatory approval for intravenous insulin infusion pumps in key markets such as the U.S. will lead to a slower growth of this product segment.

Asia Pacific to Emerge as Fastest Growing Region of Global Intravenous Access Devices Market

The global intravenous access devices market has been geographically segmented into Asia Pacific, North America, Europe, and Rest of the World. In 2012, North America generated the maximum revenue of all regional segments of the global intravenous access devices market. During the forecast period, Asia Pacific is expected to grow at a CAGR of 9.4% and emerge as the fastest growing region of the overall market. The large patient pool and increase in healthcare investment are expected to contribute to the growth of this region.

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Leading Players of the Global Intravenous Access Devices Market

Some of the leading players of the global intravenous access devices market are Baxter International, Hospira Inc., and Becton, Dickinson and Company.

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