Peripheral IV Catheter Market

In 2022, the global peripheral IV catheter market revenue was approximately US$5.7 Bn. A steady growth rate is predicted over the next decade and ample opportunities are likely to be unlocked in the growing prominence of home healthcare sector.

Market Analysis in Brief

The peripheral IV catheter market is experiencing substantial growth, driven by the increasing demand for efficient intravenous access devices, and improved patient care. Peripheral IV catheters are commonly used medical devices inserted into peripheral veins to administer fluids, medications, and other treatments. These catheters play a vital role in medical procedures, ensuring reliable access to the circulatory system for various healthcare applications. The market is witnessing a surge in demand in line with the rising prevalence of chronic diseases like cardiovascular disorders, diabetes, and cancers, increasing the need for intravenous therapies. Peripheral IV catheters also serve as a primary method for delivering medications, fluids, and nutrition to patients with chronic conditions, thereby driving market growth.

Key Report Findings

• The peripheral IV catheter market is witnessing robust growth, fuelled by the rising need for effective intravenous access solutions and the growing prevalence of chronic diseases
• The increasing ageing population, coupled with the surge in hospital admissions, is driving the demand in the worldwide peripheral IV catheter industry
• Peripheral IV catheters offer numerous advantages, including ease of insertion, patient comfort, and reduced risk of complications, contributing to their widespread adoption
• Technological advancements in catheter design, the introduction of innovative safety features, and growing emphasis on infection prevention measures contribute largely to market growth
• Key players in the market are augmenting R&D investments to introduce innovative peripheral IV catheter solutions with improved functionality, and patient-centric designs
• North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa are witnessing significant growth in the global peripheral IV catheter market

Growth Drivers

Increasing Prevalence of Chronic Diseases

The escalating prevalence of chronic diseases, such as cardiovascular disorders, diabetes, and cancer, is a major driver for the peripheral IV catheter market. These conditions require long-term intravenous therapy, contributing to the higher demand for peripheral IV catheters in healthcare settings.

Rising Hospital Admissions

The surge in hospital admissions, driven by the aging population, growing healthcare infrastructure, and the need for advanced medical treatments, is fuelling the demand for peripheral IV catheters. These devices are essential for delivering medications, fluids, and nutrition to patients during their hospital stay.

Advancements in Catheter Design

Technological developments in peripheral IV catheter design, such as developing catheters with enhanced flexibility, smaller gauge sizes, and improved insertion techniques, are driving the progress of the peripheral IV catheter market. These innovations result in reduced patient discomfort, easier insertion, and increased success rates of catheter placement.

Emphasis on Infection Prevention

The growing emphasis on infection prevention in healthcare settings is propelling the adoption of safety enhanced peripheral IV catheters. Manufacturers are incorporating features such as antimicrobial coatings, needlestick prevention mechanisms, and security devices to minimise the risk of catheter-related infections.

Growth Challenges

Catheter-Related Complications

The occurrence of catheter-related complications, such as phlebitis, bloodstream infections, and infiltration, poses challenges in the peripheral IV catheter market. Manufacturers must focus on developing catheters that minimise the risk of these complications and enhance patient safety.

Cost Constraints

The cost constraints associated with peripheral IV catheters, including their initial procurement cost and the need for frequent catheter replacements, pose challenges to market growth. Manufacturers should strive to develop cost-effective solutions without compromising on quality and safety.

Stringent Regulatory Requirements

The stringent regulatory requirements for medical devices, including peripheral IV catheters, can create challenges for market players. Compliance with regulations such as quality standards, safety guidelines, and product certifications adds complexity to the manufacturing and distribution processes.

Market Opportunities

Increasing Home Healthcare Services:

The rise in home healthcare services presents significant opportunities in the peripheral IV catheter market. As more patients receive medical treatments in the comfort of their homes, the demand for peripheral IV catheters suitable for home use is increasing. Manufacturers can focus on developing user-friendly and safe catheters for home healthcare settings.

Technological Innovations

Continuous technological advancements, such as the integration of smart sensors for real-time monitoring, the use of ultrasound guidance for catheter insertion, and the development of wireless communication-enabled catheters, provides opportunities for the growth of the peripheral IV catheter market. These innovations aim to improve catheter performance, patient safety, and overall treatment outcomes.

Expansion in Developing Markets

Emerging markets, particularly in Asia Pacific, and Latin America, offer untapped potential for the peripheral IV catheter market. The increasing healthcare expenditure, improving healthcare infrastructure, and growing awareness about advanced medical devices create opportunities for market expansion in these regions.

Regional Coverage

Each region presents unique market dynamics influenced by factors such as healthcare infrastructure, regulatory landscape, and the prevalence of chronic diseases. The increasing demand for peripheral IV catheters, and rapid advancements in healthcare technologies especially across the developing nations will account for an accelerated growth trajectory of the peripheral IV catheter market.

Key Players: Peripheral IV Catheter Market

• Smiths Medical (A Division of Smiths Group)
• Becton, Dickinson, and Company
• Braun Melsungen AG
• Terumo Corporation
• R. Bard (Acquired by BD)
• Teleflex Incorporated
• Vygon SA
• AngioDynamics Inc.
• Nipro Medical Corporation
• Argon Medical Devices (A Part of Shandong Weigao Group Medical Polymer Company Limited)

Competition Landscape Analysis

The market leaders are actively engaged in research and development to introduce innovative peripheral IV catheter solutions with enhanced features, improved safety profiles, and patient comfort. They are also focusing on strategic collaborations, acquisitions, and geographical expansions to strengthen their market presence and cater to the evolving needs of healthcare providers worldwide.

The peripheral IV catheter market is witnessing robust growth driven by the increasing demand for effective intravenous access solutions. Key drivers include the rising prevalence of chronic diseases, growing hospital admissions, and advancements in catheter design. Opportunities arise from the expanding home healthcare sector, technological innovations, and untapped markets.

However, challenges such as catheter-related complications, cost constraints, and regulatory requirements need to be addressed. The market demonstrates a global presence, with key players actively contributing to its growth through research and development efforts and strategic initiatives.

Smiths Medical (A Division of Smiths Group): Smiths Medical has made significant strides in the development of safety-enhanced peripheral IV catheters. The company's Jelco® ProtectIV® catheters feature innovative passive needlestick protection mechanisms, reducing the risk of healthcare worker injuries during catheter insertion and removal.

Becton, Dickinson and Company: In recent years, Becton, Dickinson, and Company have focused on expanding its product portfolio in the peripheral IV catheter segment. The company has introduced advanced catheter designs, such as the BD Nexiva™ Diffusics™ Closed IV Catheter System, incorporating a unique diffusion technology for improved medication delivery.

Braun Melsungen AG: B. Braun Melsungen AG has focused on enhancing patient comfort and safety in peripheral IV catheters. The company's Introcan Safety® IV Catheter integrates advanced safety features, including a passive needlestick protection system and an audible click to indicate successful catheter deployment.

Terumo Corporation: Terumo Corporation has been actively involved in the development of peripheral IV catheters with improved insertion techniques. The company's SurFlash® Plus Peripheral IV Catheter features a unique catheter tip design, facilitating smooth and precise catheter placement for reduced patient discomfort.

C.R. Bard (Acquired by BD): Following its acquisition by Becton, Dickinson and Company (BD), C.R. Bard has aligned its efforts to enhance peripheral IV catheter solutions. The company's Site~Rite® Ultrasound Systems provides real-time imaging guidance for peripheral catheter placement, helping to improve first-attempt success rates and patient outcomes.

Teleflex Incorporated: Teleflex Incorporated has focused on innovation in peripheral IV catheters with the introduction of its Arrow® JACC (Joint Accreditation Committee) Technology. This technology combines an advanced catheter tip design with passive needlestick protection, enhancing safety and reducing the risk of catheter-related complications.

Regional Classification of the Global Peripheral IV Catheter Market is Described Below:

North America

• U.S.
• Canada

Europe

• Germany
• France
• Spain
• U.K.
• Italy
• Russia
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East and Africa

• GCC
• South Africa
• Rest of Middle East and Africa