According to the latest report, published by Variant Market Research, Global Peripheral IV Catheters Market size is estimated to reach $6,027 Million by 2024 from $3,730 Million in 2016, growing at a CAGR of 6.2% from 2016 to 2024.
The global peripheral IV catheters market is primarily driven by expanding healthcare infrastructure
Global peripheral IV catheters market trends are rise in the number of infections & diseases, and expanding healthcare infrastructure. Additionally, growing demand for peripheral IV catheters, and increasing preference of injectable drugs have also supported the market growth. However, probability of causing serious infections is the major hindrance for the growth of the market. Moreover, product innovations, and ongoing R&D is likely to disclose new avenues for the market in the forecast timeframe.
The global peripheral IV catheters market is mainly classified on the basis of clinical area, technology, end-user and geography. Clinical area is sub-segmented into renal diseases, infectious diseases, gastroenterology, oncology, pediatric diseases, and other clinical areas. Technology segment includes conventional and safety. The end-user segment is bifurcated into clinics, ASC, hospitals, home healthcare and other end-users. Furthermore, by geography the global market is categorized into North America, Europe, Asia-Pacific, and Rest of the World. The U.S., Mexico, and Canada are covered under North America, whereas Europe segment includes of France, Germany, UK, and Rest of Europe. Asia-Pacific is segmented into China, India, Japan and Rest of Asia-Pacific, while RoW is segmented into Middle East, South America, and Africa.
Oncology, by clinical area dominated the market with major market share
Oncology held for the largest market share in 2016, in the clinical area segment, owing to rising number of cancer patients globally trailed by gastroenterology.
Safety to lead the technology segment with largest share in 2016
Safety accounted for the major share in the technology segment in 2016, and is expected to continue its trend during the forecast period 2016 – 2024.
Hospital, by end-user category is likely reach the fastest CAGR
The hospital occupied the end-user segment with highest share in 2016, and is likely to reach the fastest CAGR during the forecast period 2016 – 2024.
North America controlled the global market with leading share
In 2016, North America generated the highest revenue in the global market with 45%, followed by Europe with 27.5% of the total market share. In terms of growth, Asia-Pacific is expected to attain the fastest CAGR throughout the forecast period, driven by improving healthcare infrastructure, and increasing aging population.
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Key players operating in the market include Becton, Dickinson and Company, C. R. Bard, Inc., Tangent Medical Technologies, Inc., Terumo Corporation, Smith Medical plc, Vigmed AB, Argon Medical Devices Inc., B. Braun Melsungen AG, Vygon SA and Teleflex Inc. among others.