The Asia Pacific Intravenous Equipment Market would witness market growth of 6.4% CAGR during the forecast period (2023-2030).
Intravenous treatment can be necessary to provide fluids and medications during surgical procedures. The need for intravenous equipment has increased in line with improvements in surgical methods and a rise in the number of operations performed. To support patient care during surgical procedures, operating rooms, ambulatory surgical facilities, and other surgical settings need a consistent supply of intravenous equipment. The market is expanding mainly due to the rising number of surgical procedures.
Additionally, a significant factor in the demand for intravenous (IV) equipment is patient safety. Healthcare professionals place a high priority on patient security and attempt to reduce the danger of infections, medication errors, and other issues related to intravenous therapy. In accordance with patient safety, the use of proficient intravenous equipment assures proper doses, lowers the danger of needlestick injuries, and improves infection control. Innovative needleless connectors, secure devices, and catheter technologies improve patient safety and increase intravenous equipment demand.
The Chinese medical devices sector is growing due to the aging population, rising chronic diseases, the penetration of medical devices at all levels of healthcare, the expansion of health insurance funds' coverage, and the rising purchasing power of an expanding middle class. Due to China's vast number of hospitals, which increase the country's demand for basic medical goods, hospital supplies make up the greatest portion of the industry. Based on the above factors, the demand for intravenous equipment is expected to rise in the Asia-Pacific region.
The China market dominated the Asia Pacific Intravenous Equipment Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,873.5 Million by 2030. The Japan market is registering a CAGR of 5.7% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 7% during (2023 - 2030).
Based on Product Type, the market is segmented into IV catheters, Infusion Pumps, Administration Sets, Needleless Connectors, and Others. Based on End User, the market is segmented into Hospitals & Clinics, Homecare Settings and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Intravenous Equipment Market is Projected to reach USD 21.9 Billion by 2030, at a CAGR of 5.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AngioDynamics, Inc., B. Braun Melsungen AG, ICU Medical, Inc., 3M Company, Teleflex, Inc., Terumo Corporation, Baxter International, Inc., Becton, Dickinson and Company, Vygon and Poly Medicure Limited
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