Rising Number of Chronic Diseases to Aid in Peripheral I.V. Catheter Market

Posted October 30, 2020 by PSMarketResearch12

On the basis of type, the peripheral I.V. catheter market is bifurcated into integrated/closed type and short type. In 2015, the larger revenue share in the market was accounted for by the short catheters.
From $3.7 billion in 2015, the global peripheral I.V. catheter market is expected to grow to $5.5 billion by 2022, registering a 6.0% CAGR during the forecast period (2016–2022). Peripheral I.V. catheters are intravenous devices that are made of user-friendly, non-irritant material, such as silicon.

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These devices are used for either infusing medication directly into the veins or drawing blood; being made of a safe material, they can remain in contact with the patient’s skin or vessels for extended period. The market is witnessing growth due to the rising geriatric population and increasing lifestyle-disease prevalence.

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The peripheral I.V. catheter market based on region, is categorized into Middle East & Africa, Asia-Pacific, Central and Eastern Europe, Western Europe, North America, and Latin America. The market in the historical period (2012–2015) was led by the North American region, and it is further expected to hold a share of 45.0% in 2022. This can be attributed to the surging geriatric population, growing demand for injectable drugs, and rising expenditure on healthcare. Within the region, the U.S. is predicted to be the largest market and would generate $2.1 billion by 2022 at a 6.5% CAGR in the forecast period.

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The potential for growth of the peripheral I.V. catheter market is huge in the emerging economies. With the improving economy of these countries, such as Brazil, India, and China, the expenditure on improving their respective healthcare facilities is expected to increase. Further, due to inadequate attention on healthcare education, these countries witness high incidence rates of numerous chronic diseases. The increased focus and spending on the healthcare system are expected to drive the demand for peripheral I.V. catheters in such countries, thereby boosting the market.
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Issued By Pramod Kumar
Country United States
Categories Publishing , Reference , Research
Tags peripheral iv catheter market , peripheral iv catheter market demand , peripheral iv catheter market share , peripheral iv catheter market size
Last Updated October 30, 2020