The Europe Intravenous Equipment Market would witness market growth of 5.2% CAGR during the forecast period (2023-2030).
The widespread use of blood transfusion in the medical and healthcare sectors is primarily a result of the increasing prevalence of diseases that cause blood loss. Since intravenous therapies play a significant role in administering blood transfusion therapies, the demand for IV equipment is expected to rise in the market.
Additionally, people with severe medical conditions and problems often experience difficulty swallowing food, medicine, or liquids. In these situations, intravenous equipment aids in giving patients the appropriate drug doses. This factor and the increasing prevalence of tumors, cardiovascular diseases, and malignancies have recently significantly increased the demand for intravenous equipment.
Additionally, developments in medical technology are major factors in the growth of the market. The development of novel and cutting-edge intravenous equipment is a result of ongoing research and development efforts. These developments are meant to improve patient safety, treatment results, and workflow effectiveness. Smart infusion pumps with built-in monitoring systems, wireless connectivity for smooth data transfer, and improved catheter materials for increased performance are some examples of technological developments in intravenous equipment. The adoption and use of cutting-edge intravenous equipment are driven by these developments.
The budget for public health in 2021 was USD 96.7 billion, or roughly 6.6 percent of GDP. The total cost of healthcare in 2021, including both public and private spending, was estimated by the Spanish Ministry of Health, Consumer Affairs, and Social Services to be USD 136.5 billion (115.48 billion euros), or 9.3 percent of the nation’s GDP. According to the Central Government’s approval, each of the 17 regional governments in the country manages its own healthcare budget. Thus, all the above-mentioned factors will create lucrative growth in the market in coming years in Europe.
The Germany market dominated the Europe Intravenous Equipment Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,377.9 Million by 2030. The UK market is exhibiting a CAGR of 4.3% during (2023 - 2030). Additionally, The France market would experience a CAGR of 5.9% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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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