The prevalence of diabetes, increasing rates of road accidents and increasing number of surgical procedures is expected to drive the intravenous therapy and vein access devices market in coming six years. Increasing demand for advanced techniques such as needleless administration of drugs is also a vital driver for this market. Every day many healthcare workers handle drugs in hospitals and other healthcare centers. In spite of precaution measures availability, there remains risk of exposure to these drugs during procedures. Such exposures may occur through, ingestion, absorption, accidental inhalation or dermal contact of minimal amount of these drugs which may lead to variety of health problems. Overcoming all these issues to ensure a safe IV therapy additionally drives the growth for this market. The IV therapy and vein access devices are used for fluid infusion, blood transfusion, administration of drugs, venous pressure monitoring and blood sampling.
The IV therapy market on the basis of products is segmented into infusion pumps, IV sets and needleless connectors. Vascular devices market is divided into implantable ports, central venous catheters, port needles, dialysis catheters, peripherally inserted central catheters, peripheral intravenous catheters, syringes and needles. Central venous catheters (CVC) are the fastest growing segment among European countries. The demand for antimicrobial CVCs is significantly higher than that of conventional CVCs due to increasing size of patient pool that require long term indwelling catheters. Peripheral intravenous catheters (PIVC) are also very popular in North American and European market. Parental nutrition and chemotherapy drugs are expected to be one of the lucrative markets during the forecast period.
Regionally, the market for IV therapy and vein access devices market is divided in North America, Europe, Asia-Pacific and RoW. Asia Pacific is expected to be fastest growing region owing to the demand of advanced technologies and increasing prevalence of kidney disorders & diabetes. North America is leading this market regionally followed by Europe owing to the advanced healthcare infrastructure and use of the latest equipment with updated technologies.The prominent players of the market includes Becton Dickinson, B.Braun, Terumo, Vygon, Teleflex Medicals, C.R.Bard, Medcomp, Smiths Medical, Medtronic, Covidien plc, Hospira, Insulet Corporation, IRadimed Corporation.
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