The global intravenous therapy and vein access devices market is anticipated to witness growth over the forecast period. The prevalence of diabetes, increasing rates of road accidents, and an increasing number of surgical procedures are expected to drive the market. 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 a 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 a variety of health problems. Overcoming all these issues to ensure a safe IV therapy additionally drives the growth for this intravenous therapy and vein access devices market. 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 access devices market, also known as vein access devices market, is further divided into implantable ports, central venous catheters, port needles, dialysis catheters, peripherally inserted central catheters, peripheral intravenous catheters, syringes, and needles. Among vascular access devices, Central venous catheters (CVC) are the fastest-growing segment in European countries. The demand for antimicrobial CVCs is significantly higher than that of conventional CVCs due to the increasing size of the patient pool that requires long term indwelling catheters. Peripheral intravenous catheters (PIVC) are also very popular in North American and European markets. 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 into North America, Europe, Asia-Pacific, and RoW. Asia Pacific is expected to be the fastest-growing region owing to the demand for advanced technologies and the increasing prevalence of kidney disorders & diabetes. North America is leading this market regionally followed by Europe owing to the advanced healthcare infrastructure and the use of the latest equipment with updated technologies. The prominent players of the market include Becton Dickinson, B.Braun, Terumo, Vygon, Teleflex Medicals, C.R.Bard, Medcomp, Smiths Medical, Medtronic, Covidien plc, Hospira, Insulet Corporation, and IRadimed Corporation.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.