IV Catheters Market Research, 2032
The global IV catheters market size was valued at $8.6 billion in 2022, and is projected to reach $17.8 billion by 2032, growing at a CAGR of 7.5% from 2023 to 2032. The primary driving factors for the market includes rise in the prevalence of chronic diseases such as diabetes, cardiovascular disorders, and cancer. For instance, according to the American Heart Association, around 244.1 million people were living with the ischemic heart disease (IHD) in 2020 across the globe. Thus, rise in the number of individuals diagnosed with chronic diseases has led to increase in demand for IV catheters. This presents growth opportunity for the IV catheters market. Patients with these conditions often require long-term intravenous therapy for medication and fluid administration, which has led to increase in demand for IV catheters. In addition, rise in the geriatric population suffering from the chronic diseases propels the market growth. Elderly individuals are more likely to require IV therapy due to age-related illnesses and conditions, thereby boosting the IV catheters market share.
Key Takeaways:
By product, the 20G segment dominated the global market in 2022.
By type, the peripheral IV catheters segment dominated the global IV catheters market size in 2022.
The central venous catheters segment is anticipated to grow at a fastest rate during the forescast period.
By end user, the hospitals segment dominated the market in terms of revenue in 2022.
The North America region dominated the market in terms of revenue in 2022.
An intravenous catheter is a catheter inserted into a vein to administer fluids or medications or to measure pressure. Intravenous catheters are commonly used to deliver medication directly into the bloodstream. There are mainly two types of catheters such as peripheral and central venous catheters. When patients are unable to take medication orally, then intravenous catheter is used for IV therapy. These catheters are flexible tubes introduced into a vein throughout the skin. IV catheters come in various sizes and types, depending on the intended use and the specific patient's needs. They can be inserted into different types of veins, including peripheral veins and central veins.
Market Dynamics
The ongoing advancements in IV catheter technology have led to the development of innovative products with improved features, such as safety mechanisms to reduce the risk of catheter-related infections. These innovations have enhanced the overall performance and safety of IV catheters and further contribute to the IV catheters market share.
In addition, the continuous technological advancements in catheter design and materials and significant shift towards the development of more advanced and patient-friendly catheters, contribute towards the market growth. For instance, Becton, Dickinson and Company provide the BD Insyte Autoguard IV, an example of a safety catheter. It has an automatically activated needle shield that covers the needle tip as the catheter is withdrawn from the vein, providing enhanced safety during removal. These innovations aim to reduce patient discomfort, minimize the risk of complications, and enhance overall safety.
Moreover, the healthcare industry in emerging economies is developing at a significant rate, owing to rise in demand for enhanced healthcare services, significant investments by government to improve healthcare infrastructure. The demand for IV catheters is not only limited to developed countries but is also being witnessed in the developing countries, which fuels the growth of the market. Surgical procedures, both elective and emergency, frequently require IV access for anesthesia, medication administration, and fluid management. Rise in the number of surgeries performed globally is a significant factor that drives the demand for IV catheters and boosts the market growth. For instance, according to the National Heart, Lung, and Blood Institute, each year more than 2 million people globally had open heart surgery to treat various heart problems.
However, catheter-associated infections, including catheter-related bloodstream infections (CRBSIs), are a significant concern in healthcare settings. These complications may lead to patient harm, increased healthcare costs, and legal liabilities, which may negatively impact the market growth. In addition, regulatory authorities, such as the Food and Drug Administration (FDA) in the U.S. and the European Medicines Agency (EMA) in Europe, impose rigorous approval processes for medical devices, including IV catheters. Manufacturers must adhere to these processes to ensure product safety and efficacy. Delays or rejections in the approval process may hinder the market growth.
A recession has significant impacts on the IV catheters market, as it may affect healthcare spending, hospital budgets, patient volumes, and purchasing decisions. The extent of these impacts varies depending on the severity and duration of the recession, as well as specific economic and healthcare system factors, which positively impacted the market growth. However, rise in prevalence of chronic diseases such as diabetes, cardiovascular diseases and rise in advancements in catheter technology are expected to drive the market growth.
Segmental Overview
The IV catheters industry is segmented into product, type, end user, and region. By product, the market is categorized into 18G, 20G, 22G, 24G, and others. On the basis of type, the market is segregated into peripheral IV catheters, central venous catheters, and others. By end user, the market is classified into hospitals, ambulatory surgical centers, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Product
The 22G segment dominated the global IV catheter market share in 2022 and is expected to remain dominant during the forecast period, owing to the widespread use of 22G size IV catheter in a variety of clinical settings and their overall effectiveness.
However, the 24G segment is expected to register the highest CAGR during the forecast period. This is attributed to rise in advancements in IV catheter technology, wide applicability of 24G size catheter, rise in prevalence of chronic diseases, and rise in patient preference.
By Type
The peripheral IV catheters segment dominated the global market in 2022 and is anticipated to continue this trend during the forecast period. This is attributed to its versatility, ease of use, patient comfort, and cost-effectiveness of peripheral IV catheters, which make them a preferred option for a wide range of intravenous therapies.
However, the central venous catheters segment is expected to register the highest CAGR during the forecast period. This is attributed to the wide applications of central venous catheters and the benefits of long-term access that they provide and rise in prevalence of chronic diseases.
By End User
The hospitals segment held the largest IV catheter market share in 2022 and is also expected to register the highest CAGR during the forecast period. This is attributed to rise in the number of surgeries performed, which require the use of IV catheters for administration of the solutions and fluids.
In addition, hospitals are equipped to perform complex surgical procedures that require the use of IV catheters for anesthesia, fluid replacement, and post-operative care, which support the segment growth. Rise in prevalence of chronic diseases contributes significantly to the demand for IV catheters in hospital settings.
By Region
The IV catheters market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a major share of the market in 2022 and is expected to maintain its dominance during the forecast period.
The presence of several major players, such as B. Braun SE and Becton, Dickinson, and Company and advancement in the manufacturing technology of IV catheters in the region drive the growth of the market.
In addition, the presence of well-established healthcare infrastructure, high purchasing power, and rise in adoption advanced IV catheters are expected to drive the market growth. North American healthcare providers prioritize infection control and prevention. The use of IV catheters with advanced infection control features, such as antimicrobial coatings, help to reduce the risk of catheter-related bloodstream infections that support the IV catheters market growth.
Asia-Pacific is expected to grow at the highest rate during the IV catheters market forecast period. This is attributed to rise in the prevalence of chronic diseases, such as diabetes, cardiovascular diseases, cancer, and these conditions often require long-term intravenous therapy, which is driving the demand for IV catheters and fuels the market growth in this region.
Asia-Pacific offers profitable opportunities for key players operating in the IV catheters market, thereby registering the fastest growth rate during the forecast period, owing to the growing infrastructure of industries and rise in adoption of the advanced medical technologies and devices such as IV catheters. In addition, growing awareness about the benefits of timely medical intervention and the importance of proper medical equipment, including IV catheters have driven the demand for IV catheters and propel the market growth.
Competition Analysis
Competition analysis and profiles of the major players in the IV catheters industry, such as Becton Dickinson & Company, B Braun SE, AngioDynamics, Inc., Terumo Corporation, Poly Medicure Ltd., Teleflex Incorporated, Vygon, BL Group of Companies, and ICU Medical Inc. are provided in this report. Major players have adopted product launch, product launch and acquisition as key developmental strategies to improve the product portfolio of the IV catheters market.
Recent Product Launches in IV Catheters Market
In July 2022, B. Braun Medical Inc. (B. Braun), a leader in infusion therapy, announced the launch of its new Introcan Safety 2 IV Catheter with one-time blood control. It is the latest development from B. Braun for making IV access safer for the clinician by reducing the risk of needlestick injuries and their exposure to blood.
In June 2022, Teleflex Incorporated announced the launch of an Arrow Pressure Injectable Midline Catheter in Australia and New Zealand. The addition of the pressure injectable catheter further enhances the Midline portfolio to meet the expanded needs of clinicians and is designed to improve patient safety.
In June 2022, Teleflex Incorporated announced the launch of an Arrow Pressure Injectable Midline Catheter in Europe, the Middle East, and Africa regions. The addition of the pressure injectable catheter further enhances the Midline portfolio to meet the expanded needs of clinicians and is designed to improve patient safety.
Recent Acquisitions in IV Catheters Market
In June 2020, Nipro Corporation announced the acquisition of shares of JML Marketing Ltd. allocated to a third party. JML has secured a large market share for disposable medical devices including syringes, infusion sets, and IV catheters in Bangladesh.
In January 2020, ICU Medical Inc. announced that it has completed its acquisition of Smiths Medical from Smiths Group plc. The Smiths Medical business includes syringe and ambulatory infusion devices, vascular access, and vital care products.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the IV catheters market analysis from 2022 to 2032 to identify the prevailing opportunities.
- The market research is offered along with information related to key drivers, restraints, and IV catheters market opportunity.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the IV catheters market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global IV catheters market trends, key players, market segments, application areas, and market growth strategies.
IV Catheters Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 17.8 billion |
 Growth Rate | CAGR of 7.5% |
 Forecast period | 2022 - 2032 |
 Report Pages | 303 |
 By Product |
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 By Type |
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 By End User |
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 By Region |
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 Key Market Players | Teleflex Incorporated, Becton, Dickinson and Company, BL Group of Companies, Terumo Corporation, Nipro Corporation, AngioDynamics, Inc., B. Braun SE, Vygon, Poly Medicure Ltd., ICU Medical Inc. |
Analyst Review
The IV catheters market is expected to exhibit high growth potential attributable to rise in demand for intravenous therapy across various healthcare settings such as hospitals and clinics ambulatory surgical centers, and homecare settings. The surge in prevalence of chronic diseases, need for efficient drug delivery systems, and advancements in medical treatments drive the demand for intravenous catheters to administer the fluids.??
In addition, the rise in expenditure on the development of healthcare infrastructure and rise in geriatric population suffering from chronic diseases are expected to boost the growth of the IV catheters market. In addition, investments in research and development aim to develop innovative and technologically advanced products that enhance patient safety, improve treatment outcomes, and optimize workflow efficiency. These investments focus on catheters to address the evolving needs of healthcare providers and patients.?
Furthermore, North America dominated the market share, in terms of revenue, owing to rise in prevalence of chronic diseases, rise in technological advancements, and well-developed healthcare infrastructure. However, Asia-Pacific is anticipated to witness notable growth, owing to growing geriatric population with rise in prevalence of chronic diseases, which creates a significant demand for intravenous therapy. An upsurge in healthcare expenditure in emerging economies is anticipated to offer lucrative opportunities for the market.??
The base year is 2022 in IV catheters market.
The forecast period for IV catheters market is 2023 to 2032.
The total market value of IV catheters market is $8.6 billion in 2022.
The market value of IV catheters market in 2032 is $17.8 billion.
Major players that operate in the IV catheters market are Becton Dickinson & Company, B Braun SE, AngioDynamics, Inc., Terumo Corporation, Poly Medicure Ltd., Teleflex Incorporated, Vygon, BL Group of Companies, and ICU Medical Inc.
The Peripheral IV Catheters segment is the most influencing segment in the market owing ease of use, high safety profile, and suitability for short-term treatments.
Key factors driving the growth of the IV catheters market includes rise in prevalence of chronic diseases, surge in number of surgical procedures and technological advancements in intravenous equipment.
Asia-Pacific is anticipated to register the highest CAGR during the forecast period, owing to rapidly growing population, coupled with increase in prevalence of chronic diseases, which creates a significant demand for intravenous therapy and IV catheters.
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