Intravenous Therapy and Vein Access Market Expected to Reach $37.5 Billion by 2030

The Intravenous Therapy and Vein Access Market size was valued at $22.8 billion in 2020, and is estimated to reach $37.5 billion by 2030, growing at a CAGR of 5.1% from 2021 to 2030. 

(IV) therapy is one of the most frequently used health care therapies. It is performed in emergency response settings, hospitals, clinics, nursing homes, and, at an individual's home. IV therapy is used for many reasons, including restoration of fluids in dehydrated patients. In patients with severe vomiting and/or diarrhea, especially in children, dehydration can be fast and severe. IV therapy transfers and replaces fluids and electrolytes, providing rest to the digestive system rest.

Intravenous Therapy and Vein Access Market trends are an increase in patients with diabetes, an increase in rates of road accidents, and a surge in the number of surgical procedures are expected to drive the growth of the market. An increase in demand for advanced techniques, including needleless administration of drugs drives the market growth. However, the lack of experienced healthcare professionals restricts the market growth. Some factors that influence the advancement of this market include rise in critical care therapies required by the geriatric population and the rise in healthcare facilities are the key factors anticipating the drive of Intravenous Therapy and Vein Access Market growth.

Another key factor that drives the Intravenous Therapy Industry growth is an increase in demand for IVs as an effective and fast-acting way to administer fluid or medication in an emergency situation and for patients who are unable to take medications orally. Approximately 80% of all patients in hospital settings receive IV therapy.

The Intravenous Therapy and Vein Access Market are segmented on the basis of type, medical application, and region. On the basis of type, the market is classified into implantable ports, IV catheters, hypodermic needles, infusion pumps, and others. Depending on medical application, the market is categorized into volume expanders, medication administration, blood-based products, and nutrition & buffer solutions. As per the end-user, the market is fragmented into hospitals, ambulatory surgical centers, and clinics. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA

Depending on the type. the IV catheters segment is classified into peripheral IV catheter, center IV catheter, peripherally inserted central catheter, and others. The IV catheters are the fastest growing product segment, owing to the rise in chronic disease and the increase in geriatric population across the globe.

As per the end-user, the hospital segment held the highest market share, owing to an increase in the use of IV therapy in hospitals,  which includes IV antibiotic treatment, medication for unconscious patients, drugs that cannot be orally administered, interventional radiology, anti-cancer drugs, hemodialysis, repeated blood sample drawings, and blood transfusion. Advancements in technology and investment in hospitals boost the growth of IV therapy and vein access device market.

Region-wise, it is analyzed, North America was the highest Intravenous Therapy and Vein Access Market share in 2020, owing to the advanced healthcare infrastructure and use of the latest equipment with updated technologies. Asia-Pacific is expected to be the fastest-growing region, owing to the demand advanced technologies and an increase in the prevalence of kidney disorders & diabetes.

KEY FINDINGS OF THE STUDY

• Depending on the type, the IV catheters were the highest contributor to the market in 2020.
• By application type, medical administration dominated the market in 2020 and is expected to continue this trend during the forecast period.
• Region-wise, North America garnered the largest revenue share in 2020; however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.