|Fastest Growing Market:||Asia-Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The intravenous therapy (IV) and vein access market is expected to register a CAGR of 5% over the forecast period (2022-2027).
The COVID-19 pandemic has significantly impacted the intravenous therapy (IV) and vein access market. For instance, as per a November 2021 published article titled "Intravenous Immunoglobulin Therapy for COVID-19 ARDS", intravenous immunoglobulin (IVIG) did not significantly improve outcomes in moderate-to-severe COVID-19 associated acute respiratory distress syndrome (ARDS) and was associated with an increase in thromboembolic adverse events. Such studies are likely to have a short-term adverse impact on the market's growth. However, due to ongoing research and development activities in IV therapies and the rising demand for medication administration at home, the market is expected to grow positively in the post-pandemic phase. For instance, as per a March 2022 update by the Allergy & Asthma Network, monoclonal antibodies are given by intravenous (IV) or a single-dose injection to people diagnosed with COVID-19, and the therapy uses COVID-19 antibodies to help a person's body fight off the infection. In addition, as per an October 2020 published article titled "The Use of Intravenous Immunoglobulin Gamma for the Treatment of Severe Coronavirus Disease 2019: A Randomized Placebo-Controlled Double-Blind Clinical Trial," the administration of intravenous immunoglobulin in patients with severe COVID-19 infection was expected to improve the clinical outcome and aid in a significant reduction of the mortality rate due to SARS-CoV2 viral infection. Thus, such studies are anticipated to boost the demand for intravenous therapy, ultimately augmenting the intravenous therapy (IV) and vein access market over the coming years.
Furthermore, the market's growth can be attributed to factors such as the increasing incidences of chronic diseases, the growing number of surgeries worldwide, rising number of intravenous (IV) drug approvals, and increasing technological advancements in intravenous therapy (IV) and vein access.
The increasing number of incidences of chronic diseases and the growing number of surgeries worldwide is driving the demand for intravenous therapy and vein access devices. Intravenous therapy is used to deliver various medications for chronic conditions such as rheumatoid arthritis, Crohn's disease, osteoporosis, systemic lupus, multiple sclerosis, psoriasis, and gout. As per the September 2020 report by the Atlas of MS, 2.8 million people are living with Multiple Sclerosis around the globe. In addition, intravenous therapy is a key component of surgical procedures. Thus, the increasing number of surgical procedures contributes to market growth. For instance, an ongoing clinical trial study titled "A Clinical Trial of Intravenous Lidocaine After Spinal Surgery to Prevent Delirium and Reduce Pain (LIMPP)" investigates continuous post-operative intravenous lidocaine infusion post-reconstructive spine surgery for minimizing delirium and opiate usage among the patient population. The University of California sponsored the trial, and it is expected to be completed by September 2024. Thus, such studies will greatly bolster the demand for IV therapy over the coming years, boosting the demand for IV and vein access devices.
Moreover, as per the research study published in June 2021, titled "German Heart Surgery Report 2020: The Annual Updated Registry of the German Society for Thoracic and Cardiovascular Surgery", a total of 92,809 operations were classified as heart surgery procedures in the classical sense, of which 29,444 were isolated coronary artery bypass grafting procedures, 35,469 were isolated heart valve procedures, and the number of isolated heart transplantations increased by 2% to 340. Since IV therapies play a vital role in managing blood loss caused due to open-heart surgeries, the demand for such treatments is likely to impact the growth of the IV and vein access market over the coming years.
Moreover, in September 2021, B. Braun Medical Inc. launched its new CARESAFE IV Administration Sets with Optional AirStop. CARESAFE IV Sets are the first robust portfolio of IV administration sets in the United States market that are not made with polyvinyl chloride (PVC) and diethylhexyl phthalate (DEHP).
However, complications associated with intravenous therapy and a lack of experienced healthcare professionals hinder the market's growth.
Scope of the Report
As per the scope of the report, intravenous (IV) therapy is a method to administer fluids into the body via the blood vessels. The venous access method is referred to as a method used to access the bloodstream through the veins to administer intravenous therapy, among other uses. The market is segmented by Type (Infusion Pumps, Intravenous Sets, Implantable Ports, Central Venous Catheters, and Other Products), Application (Volume Expander, Medication Administration, Blood-based Products, and Other Application Types), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Other Distribution Channel), Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (USD million) for the above segments.
|Central Venous Catheters|
|Other Application Types|
|By Distribution Channel|
|Other Distribution Channel|
Key Market Trends
Implantable Ports Segment is Expected to Hold a Major Market Share in the Intravenous (IV) Therapy and Vein Access Market
By type, the implantable ports segment is expected to hold a major share in the market. Implantable ports are devices that are inserted under the skin and into a vein. They usually go in about an inch below the collarbone in the upper right chest for the withdrawal of blood or administration of drugs.
The major factors fuelling the segment's growth are the increasing number of technological advancements and the increasing adoption of implantable ports. For instance, in July 2020, AngioDynamics, Inc. received 510 (k) clearance from the United States Food & Drug Administration (FDA), as well as a CE Mark from the European Commission, for their SmartPort+ Implantable Port.
In addition, the use of implantable ports is increasing owing to the rising awareness of these devices among the patient population. For instance, in February 2021, BD-India launched a special educational program on chemo ports called PortShala on World Cancer Day, February 4th. These ports are used to deliver chemotherapy to cancer patients. The initiative focuses on upgrading information levels on implanting, administration, and maintenance of chemo ports among all cancer stakeholders and caregivers.
Thus, owing to the above-mentioned factors, the segment is expected to witness significant growth over the forecast period.
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North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
The United States is expected to hold a major share of the market in North America. The major factors fuelling the market growth in the country are the increasing prevalence of chronic diseases and the growing number of surgeries, improved healthcare infrastructure, and the rising number of technological advancements.
For instance, according to the Center for Disease Control and Prevention, in 2020, about 600,000 women in the United States had a hysterectomy. As per the National Partnership for Women & Families updates from May 2022, the C-section rate in the United States is high: about 1 in 3 women now gives birth by C-section. All these procedures require intravenous therapy for the administration of medications and fluids, which thus propels the market growth in the country.
Several market players are engaged in implementing strategic initiatives, thereby contributing to the market's growth. For instance, in March 2022, PAVmed Inc., a diversified commercial-stage medical technology company, reported that physicians at the Clinica Porto Azul in Barranquilla, Colombia, successfully implanted the company's PortIO Intraosseous Infusion System in three patients, the first human implants of the device, as part of its IRB-approved first-in-human (FIH) clinical study of up to 40 patients. Such instances will significantly contribute toward increasing patient awareness regarding IV therapies and systems, augmenting the demand for intravenous therapy (IV) and vein access devices within the region.
Thus, the market is expected to witness significant growth during the forecast period due to the abovementioned factors.
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The intravenous (IV) therapy and vein access market is competitive with several global and international players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, mergers, and acquisitions. Some of the key players in the market are Becton, Dickinson and Company, Terumo Medical Corporation, Vygon SAS, Teleflex Incorporated, and Fresenius Kabi, among others.
- In March 2022, PAVmed Inc., a diversified commercial-stage medical technology company, reported that physicians at the Clinica Porto Azul in Barranquilla, Colombia, successfully implanted the company's PortIO Intraosseous Infusion System in three patients, the first human implants of the device, as part of its IRB-approved first-in-human (FIH) clinical study of up to 40 patients.
- In February 2022, Access Vascular, Inc. (AVI) entered a partnership with Healthcare Insights (HCIS) to build a value-based care program that can more broadly support hospital customers as they deploy the company’s groundbreaking biomaterial-based catheters to improve vascular access to medical and economic outcomes.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Incidences of Chronic Diseases and Growing Number of Surgeries Worldwide
4.2.2 Increasing Technological Advancements in IV Therapy Devices
4.3 Market Restraints
4.3.1 Complications Associated with Intravenous Therapy
4.3.2 Lack of Experienced Healthcare Professionals
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Type
5.1.1 Infusion Pumps
5.1.2 Intravenous Sets
5.1.3 Implantable Ports
5.1.4 Central Venous Catheters
5.1.5 Other Products
5.2 By Application
5.2.1 Volume Expander
5.2.2 Medication Administration
5.2.3 Blood-based Products
5.2.4 Other Application Types
5.3 By Distribution Channel
5.3.1 Hospital Pharmacies
5.3.2 Retail Pharmacies
5.3.3 Other Distribution Channel
5.4.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
5.4.5 South America
220.127.116.11 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.2 Becton, Dickinson and Company
6.1.4 Terumo Medical Corporation
6.1.5 Vygon SAS
6.1.6 Teleflex Incorporated
6.1.7 Fresenius Kabi
6.1.8 Smiths Medical, Inc.
6.1.9 Medtronic plc
6.1.10 Iradimed Corporation
6.1.11 ICU Medical, Inc
6.1.12 Baxter International
6.1.13 B. Braun Melsungen AG
6.1.15 Cardinal Health
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Intravenous (IV) Therapy and Vein Access Market market is studied from 2019 - 2027.
What is the growth rate of Global Intravenous (IV) Therapy and Vein Access Market?
The Global Intravenous (IV) Therapy and Vein Access Market is growing at a CAGR of 5% over the next 5 years.
Which region has highest growth rate in Global Intravenous (IV) Therapy and Vein Access Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Intravenous (IV) Therapy and Vein Access Market?
North America holds highest share in 2021.
Who are the key players in Global Intravenous (IV) Therapy and Vein Access Market?
Becton, Dickinson and Company, Terumo Medical Corporation, Vygon SAS, Teleflex Incorporated, Fresenius Kabi are the major companies operating in Global Intravenous (IV) Therapy and Vein Access Market.