Peripheral intravenous catheter is small and flexible tubes that are placed into the peripheral vein to conduct intravenous therapies. With the growing prevalence of various diseases such as immune deficiency, neurological diseases, Kawasaki diseases, myositis, and lutus, demand for peripheral intravenous therapies will continue to remain high in the healthcare industry. Besides treatment of various diseases, doctors are conducting intravenous therapies to collect body fluid for the physical examination of the patients. In order to offer better patient care, leading manufacturers in the healthcare industries are focusing on integrating advanced features in the peripheral intravenous catheter devices. Manufacturers are focusing on integrating passive safety features that help the end users in eliminating accidental injuries with the needle stick. Through product innovation and differentiation, leading companies are focusing on attaining a competitive edge in the global market.
According to a recent study conducted by Future Market Insights, the global peripheral intravenous catheter market is expected to account for a value of US$ 5.22 Bn over the forecast period, 2016-2021. The global peripheral intravenous catheter market is expected to reflect a robust CAGR of 6.1% through the forecast period. Here are a few insights provided by an analyst of Future Market Insights on queries regarding growth prospects of the global peripheral intravenous catheters.
Who are some of the leading market players in the global peripheral intravenous catheter market?
Major market players operating in the global peripheral intravenous catheter market include Terumo Corporation, Tangent Medical, Smith Medical, C. R. Bard, Inc., Vygon Group, Becton Dickinson and Company, and B. Braun Melsungen AG.
In your perspective, what are some of the factors influencing growth of the peripheral intravenous catheters across the globe?
Increasing instances of infections and prevalence of various diseases will continue to fuel demand for catheterization in the healthcare institutions. Healthcare professionals prefer examining the patient’s condition before conducting treatment procedures. As the need to collect blood samples and other liquid samples for examining the condition of patients persist, doctors in the healthcare institutions opt for intravenous therapies. Growing need to conduct intravenous therapies has led to a surge in demand for peripheral intravenous catheters in the healthcare industry. In addition, prevalence of blood-borne pathogenic infections among individuals has further revved up demand for peripheral intravenous catheters among the healthcare professionals.
What are some factors according to you that will significantly inhibit growth of the global market?
While the prevalence of various diseases and infections will continue to rev up demand for the peripheral intravenous catheters, there are a few factors that are likely to inhibit growth of the global market. Qualitative and technological complications of these medical devices can restrain demand for these devices globally. As these complications can adversely impact and worsen the condition of the patients, healthcare institutions prefer opting for alternative and non-invasive treatment procedures. Also, high cost of these devices has further encouraged healthcare institutions to opt for devices that are less complicated and available at reasonable prices. Attributed to these factors, sales of peripheral intravenous catheters are likely to witness a dip in growth globally.
What are some of the advanced technological features that are transforming the treatment procedures?
In order to offer better patient care, leading manufacturers are focusing on incorporating innovative and advanced technological features in the peripheral intravenous catheters. Major manufacturers are concentrating on integrating passive-safety features and sensors. These features enable the end users to monitor and track the catheter for safe treatment procedure.
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