Market Size of Intravenous (IV) Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Intravenous (IV) Equipment Market Analysis
The intravenous (IV) equipment market is expected to register a CAGR of 4.3% during the forecast period.
- The sudden outbreak of COVID-19 had a severe impact on the intravenous (IV) equipment industry due to a sudden halt in surgical procedures that were non-immediate and were being postponed to decrease the burden on healthcare infrastructure. The use of intravenous therapies was restricted for the treatment of COVID-19 to reduce the chances of infection. For instance, as per the guidelines published by the National Institute of Health in July 2023, it was found that the COVID-19 Treatment Guidelines Panel recommended the utilization of IV Immunoglobulin for treating acute COVID-19 infection. Therefore, with the restricted use of IV for COVID-19 treatment, there was a considerable impact on the market studied. However, currently, the market has reached its pre-pandemic nature in terms of demand for IV equipment and is expected to witness strong growth in the coming years.
- Some of the major chronic diseases include cancer, kidney failure, and heart disease, among others, and several lifestyle disorders such as hypertension, diabetes, obesity, and depression, among others, which need critical care during their hospitalization.
- The rise in such chronic diseases is augmenting the growth of the market studied. For instance, according to the World Health Organization data published in April 2021, chronic diseases are expected to kill 41 million people each year, equivalent to 71% of all deaths globally. Also, 77% of mortality in low- and middle-income nations is attributable to chronic diseases. With the increase in the number of cancer cases and other chronic conditions, there will be a growing demand for various surgical procedures, which is believed to propel the market growth.
- Moreover, according to the Alzheimer Society of Canada, in January 2021, over 500,000 Canadians were living with dementia. By 2030, this number is expected to rise to 912,000. Similarly, according to the Fondation de France in 2021, Parkinson's disease affected around 150,000 people in France as of 2021. It also stated that the disease affects the geriatric population more. Hence, the high number of people living with chronic diseases is expected to propel the market growth in the coming years.
- However, stringent regulation and medication errors associated with infusion pumps leading to a product recall are expected to restrain the market growth over the forecast period.
