Iv Equipment Market Size, Share, Industry Trends and Forecast to 2030

Market Size & CAGR of IV Equipment Market in 2021

The global IV equipment market had a market size of USD 9.53 billion in 2020 and is projected to reach USD 14.72 billion by 2027, at a CAGR of 5.8% during the forecast period. The significant growth in the market is attributed to the increasing prevalence of chronic diseases, advancements in healthcare infrastructure, and the rising demand for minimally invasive procedures.

COVID-19 Impact on the IV Equipment Market

The COVID-19 pandemic had a mixed impact on the IV equipment market. On one hand, there was a surge in the demand for IV equipment due to the increasing number of COVID-19 patients requiring critical care and intravenous medication. On the other hand, the disruptions in the global supply chain and the temporary closure of healthcare facilities led to a decline in the market growth. However, with the gradual recovery of the healthcare sector, the IV equipment market is expected to bounce back and witness significant growth in the coming years.

IV Equipment Dynamics

The IV equipment market is driven by factors such as the increasing prevalence of chronic diseases, the rising geriatric population, and the growing adoption of advanced medical technologies. Moreover, the surge in the demand for minimally invasive procedures and the advancements in healthcare infrastructure are also contributing to the market growth. However, factors such as stringent regulatory guidelines and the high cost of IV equipment could hinder the market growth to some extent.

Segments and Related Analysis

The IV equipment market is segmented based on product type, end-user, and region. The product type segment includes IV catheters, infusion pumps, IV administration sets, and others. The end-user segment comprises hospitals, ambulatory surgical centers, specialty clinics, and others. In terms of region, North America dominates the IV equipment market, followed by Europe and Asia Pacific.

By Region Analysis

In North America, the IV equipment market is driven by the presence of well-established healthcare infrastructure, the high prevalence of chronic diseases, and the increasing healthcare expenditure. Europe is also a significant market for IV equipment due to the growing geriatric population and the rising demand for advanced medical technologies. The Asia Pacific region is expected to witness the fastest growth in the IV equipment market, attributed to the increasing healthcare investments, the growing number of hospitals, and the rising awareness about healthcare among the population.

Key Market Players and Competitive Landscape

Some of the key players in the IV equipment market include B. Braun Melsungen AG, Baxter International Inc., Fresenius SE & Co. KGaA, Smiths Medical, Terumo Corporation, and others. These players are focusing on product innovation, mergers, acquisitions, and partnerships to strengthen their market presence and gain a competitive edge. The market is highly competitive, with companies striving to launch advanced IV equipment to cater to the evolving healthcare needs.

Recent Happenings in the IV Equipment Market

In recent developments, B. Braun Melsungen AG launched a new range of advanced infusion pumps with enhanced features for precise medication delivery. Baxter International Inc. introduced a novel IV catheter designed to reduce the risk of bloodstream infections. Fresenius SE & Co. KGaA collaborated with a leading healthcare technology company to develop a digital platform for remote monitoring of IV therapy. These advancements reflect the ongoing efforts of key market players to innovate and improve the existing IV equipment offerings.