Global Peripheral IV Catheters Market Report, published by Variant Market Research, forecast that the global market is expected to reach $6,027 Million by 2024 from $3,730 Million in 2016, growing at a CAGR of 6.2% from 2016 to 2024. By geography, Asia-Pacific and RoW are expected to grow at a CAGR of 8.3% and 7.4%, respectively, during the forecast period.
"Peripheral IV Catheters Market (By Technology: Safety and Conventional; By Clinical Area: Oncology, Gastroenterology, Renal Diseases, Pediatric Diseases, Infectious Diseases And Others; By End User: Hospitals, ASC, Clinics, Home Healthcare, And Others; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024"
Some of the factors supporting the growth of the global peripheral IV catheters market comprise rise in the number of infections and diseases, expanding healthcare infrastructure, rising demand for peripheral IV catheters and increasing preference of injectable drugs. Additionally, product innovations may provide future scope in forecasted period. However, probability of causing serious infections might limit the adoption among consumers.
Technology, clinical area, end user, and geography are the major segments included in the global peripheral IV catheters market. Technology is bifurcated into safety and conventional. Clinical area is segmented into oncology, gastroenterology, renal diseases, pediatric diseases, infectious diseases and others. Furthermore, end-user is bifurcated into hospitals, ASC, clinics, home healthcare and others.
In 2016, safety is expected to dominate the technology segment with highest market share and fastest CAGR. Moreover, in clinical area, oncology held major share, driven by increasing number of cancer patients globally, followed by gastroenterology. By end user, hospital will attain fastest CAGR and held maximum share in 2016.
Geographically, global peripheral IV catheters market is bifurcated into North America, Europe, Asia Pacific, and RoW. North America and Europe accounted the majority of the global market share in 2016, with 45% and 27.5%, respectively. While, Asia-Pacific will attain fastest CAGR during the forecast period, owing to increasing aging population, and improving healthcare infrastructure.
Major players include Tangent Medical Technologies, Inc., Smith Medical plc, B. Braun Melsungen AG, C. R. Bard, Inc., Becton, Dickinson and Company, Argon Medical Devices Inc., Terumo Corporation, Vygon SA, Teleflex Inc., and Vigmed AB, among others.