Peripheral Intravenous Catheters Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Peripheral Intravenous Catheters market in 2021?

The global peripheral intravenous catheters market size in 2021 was valued at USD 5.2 billion. The market is expected to grow at a compound annual growth rate (CAGR) of 5.8% from 2021 to 2028, reaching a market size of USD 7.8 billion by the end of the forecast period. This growth can be attributed to the increasing prevalence of chronic diseases that require intravenous therapy, technological advancements in catheter design, and the rising geriatric population globally.

COVID-19 Impact on the Peripheral Intravenous Catheters Market

The COVID-19 pandemic has had a significant impact on the peripheral intravenous catheters market. The increased hospitalizations due to COVID-19 patients requiring intravenous therapy have led to a surge in demand for peripheral intravenous catheters. Healthcare facilities have been facing challenges in maintaining an adequate supply of catheters, leading to supply chain disruptions and shortages in some regions.

On the other hand, the pandemic has also resulted in the adoption of telemedicine and home healthcare services, which has driven the demand for peripheral intravenous catheters for use outside traditional healthcare settings. Manufacturers in the market have been focusing on increasing production capacity and developing innovative catheter designs to meet the growing demand and address the challenges posed by the pandemic.

Peripheral Intravenous Catheters Dynamics

The peripheral intravenous catheters market is driven by factors such as the increasing prevalence of chronic diseases, the rising geriatric population, technological advancements in catheter design, and the growing adoption of ambulatory and home healthcare services. The market is also influenced by factors such as the increasing number of hospitalizations, surgical procedures, and the demand for minimally invasive procedures.

However, the market faces challenges such as catheter-related infections, complications associated with catheter insertion, and the risk of needlestick injuries. Manufacturers in the market are focusing on developing antimicrobial catheters, safety-engineered devices, and catheter stabilization devices to address these challenges and improve patient outcomes.

Segments and Related Analysis

By Product Type:

The peripheral intravenous catheters market is segmented into short peripheral intravenous catheters, integrated/closed catheters, and peripherally inserted central catheters (PICCs). Short peripheral intravenous catheters are the most commonly used type of catheters and are suitable for short-term intravenous therapy. Integrated/closed catheters offer additional safety features and reduce the risk of needlestick injuries. PICCs are used for long-term intravenous therapy and allow for the administration of multiple medications.

By Application:

The market is segmented into hospitals, ambulatory care centers, clinics, and home healthcare settings. Hospitals account for the largest market share due to the high volume of patient admissions and the need for intravenous therapy. Ambulatory care centers and clinics are experiencing growth due to the shift towards outpatient services and the increasing demand for minimally invasive procedures.

By Material:

Peripheral intravenous catheters are made from materials such as polyurethane, silicone, and polyethylene. Polyurethane catheters are flexible and resistant to kinking, making them suitable for long-term use. Silicone catheters are soft and biocompatible, reducing the risk of tissue damage. Polyethylene catheters are cost-effective and suitable for short-term use.

By Region Analysis

North America:

North America dominates the peripheral intravenous catheters market due to the high prevalence of chronic diseases, well-established healthcare infrastructure, and technological advancements in catheter design. The region is also experiencing a growing emphasis on patient safety and infection control measures, driving the demand for antimicrobial and safety-engineered catheters.

Europe:

Europe is expected to witness steady growth in the market due to the increasing geriatric population, rising healthcare expenditure, and the presence of key market players in the region. The adoption of advanced catheter technologies and the emphasis on patient comfort and safety are driving the demand for peripheral intravenous catheters in Europe.

Asia Pacific:

The Asia Pacific region is experiencing rapid growth in the market due to the increasing healthcare infrastructure, expanding patient population, and rising awareness about intravenous therapy. Manufacturers are focusing on developing cost-effective and innovative catheter solutions to cater to the growing demand in the region.

Latin America:

Latin America is witnessing a growing demand for peripheral intravenous catheters due to the improving healthcare facilities, increasing prevalence of chronic diseases, and rising government initiatives to enhance patient care. The region offers significant growth opportunities for market players due to the expanding healthcare infrastructure and the rising adoption of advanced medical technologies.

Middle East and Africa:

The Middle East and Africa region are expected to show moderate growth in the peripheral intravenous catheters market due to improving healthcare infrastructure, rising healthcare expenditure, and increasing awareness about infection control measures. Manufacturers are investing in research and development activities to introduce innovative catheter solutions tailored to the needs of healthcare facilities in the region.

Key Market Players and Competitive Landscape

The key players in the peripheral intravenous catheters market include Becton, Dickinson and Company, B. Braun Melsungen AG, Smiths Medical, Teleflex Incorporated, and Terumo Corporation. These companies are focusing on product development, strategic partnerships, and mergers and acquisitions to strengthen their market position and expand their product portfolio.

The market is highly competitive, with key players competing based on product quality, pricing, and technological advancements. Manufacturers are investing in research and development activities to introduce innovative catheter solutions that address the evolving needs of healthcare facilities and improve patient outcomes.

Recent Happenings in the Peripheral Intravenous Catheters Market

- In June 2021, Becton, Dickinson and Company launched a new line of antimicrobial peripheral intravenous catheters designed to reduce the risk of catheter-related infections.

- In August 2021, Teleflex Incorporated announced the acquisition of Z-Medica, a leading manufacturer of hemostatic agents, to expand its product portfolio and enhance its presence in the healthcare market.

- In October 2021, B. Braun Melsungen AG introduced a new range of safety-engineered peripheral intravenous catheters designed to improve patient safety and reduce the risk of needlestick injuries.

- In December 2021, Smiths Medical collaborated with a leading healthcare institution to conduct clinical trials on a new line of antimicrobial peripheral intravenous catheters to assess their efficacy in reducing catheter-related infections.