Intravenous System Access Devices Market

1. Intravenous System Access Devices Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast The global intravenous access devices market size is anticipated to expand at a CAGR of 5.6% during the forecast period, 2021-2028. The growth of the market is attributed to increasing number of patients suffering from tuberculosis and cancer. Intravenous access devices are used for the administration of drugs or medications, such as antibiotics or IV drugs, for the treatment of the patient. These devices are also used for the blood transfusion and diagnostic testing. The increasing burden on the healthcare sector owing to the COVID-19 outbreak has growing the demand for such devices across the globe. Market Trends, Drivers, Restraints, and Opportunities  Increasing number of smokers worldwide along with rapid urbanization is spurring the market growth. Rising prevalence of geriatric population is driving the segment growth. Growing development of new vaccines and increasing use of advanced technology to design new products are expected to propel the market growth. Increasing level of disposable income is anticipated to stimulate the market growth. Multiple use of devices for testing blood after withdrawing it through intravenous route, for faster delivery of nutrients, fluids and drugs, such as antibiotics, analgesics, and antipyretics at the site of inflammation are positively influencing the market growth. Rising number of hospitalizations, as surgeries require intravenous access devices for the purpose of medication and anaesthetics, is expected to fuel the growth of the market.    

2.  Growing healthcare expenditure along with development of improved healthcare infrastructure is anticipated to generate massive opportunities for the industry players during the forecast period. Ongoing technological advancements across the globe are speculated to foster the growth of the market. Infusion Nursing Standards of Practice reported the risk of infection which through the use of intravenous system access devices, restraining the market growth. Using a stopcock can result into a risk of contamination. Therefore, healthcare facilities have been advised to adhere to strict use guidelines and use needle-free connectors to reduce the risk, which is expected to hinder the growth of the intravenous system access devices market Increasing awareness among the physicians and patients regarding the benefits of intravenous access devices is anticipated to create various opportunities for the growth of the market.     Sample - https://growthmarketreports.com/request-sample/1464 Market Segment Insights Subcutaneous segment to hold a considerable market share Based on route of administration, the market is segmented into intravenous and subcutaneous. The subcutaneous segment accounted for than USD 21.9 billion in 2020 and is expected to reach USD 71 billion by 2028, expanding at a CAGR of 11% during the forecast period, 2021-2028. In subcutaneous drug delivery, the medication is injected in the subcutaneous layer, a layer between the skin and muscle, of an individual The availability of self-administrative drug delivery devices has propelled the growth of the market segment. These drug delivery devices make it possible for the patient to self-medicate themselves anywhere and anytime, in absence of professional help. Pumps segment to account a considerable market share On the basis of types, the market is divided into catheters, needles and pumps. The pumps segment is expected to grow at a steady rate during the forecast period. Increasing prevalence of cardiovascular diseases is driving the segment growth. On the other hand, the needles segment is expected to hold a major market share in the projected timeline. Hospitals & clinics segment to hold a significant market share In terms of end-users, the market is segregated into hospitals & clinics, ambulatory surgery centers, and others. The hospitals & clinics segment is expected to hold a significant market share during the forecast period owing to wide availability of advanced devices and the presence of specialized medical staff, including doctors and nurses. The market in Asia Pacific to grow at a robust rate Based on regions the market is categorized as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is expected to grow at a robust rate due to the increasing geriatric population along with rising prevalence of chronic diseases. Moreover, increasing occurrence of target

3. diseases along with improving healthcare infrastructure in the region is expected to boost the regional market growth. Inquiry- https://growthmarketreports.com/enquiry-before-buying/1464 Competitive Landscape The major players of the market are Baxter International, Becton, Dickinson & Company, Braun Melsungen AG, CareFusion Corporation, Covidien Plc, Fresenius Medical Care Ag & Co, KGaA, Medtronic, Inc., Smiths Medical, and Teleflex. About Growth Market Reports: GMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. GMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys. Contact: Growth Market Reports Phone: +1 909 414 1393 Email: sales@growthmarketreports.com Web: https://growthmarketreports.com Follow Us: LinkedIn | Twitter