Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Intravenous (IV) Therapy and Vein Access Market size is expected to reach $33.6 billion by 2028, rising at a Market growth of 5.3% CAGR during the forecast period.
The Clinics segment is showcasing a CAGR of 5.6% during (2022 - 2028). A clinic is a type of medical facility that focuses on diagnosing and treating minor illnesses and injuries. Family medicine, urgent care, and occupational health are all common services provided by clinics. Intravenous (IV) therapy is a method of administering drugs and other therapies to patients in clinics.
The Medication Administration segment acquired maximum revenue share in the Global Intravenous (IV) Therapy and Vein Access Market by Application in 2021; thereby, achieving a Market value of $11.5 billion by 2028. The massive growth of this segment can be credited to the growing utilization of IV therapy for transferring medicines for diseases like cancer and diabetes. The global burden of these diseases is constantly increasing, paving the way for the growth of this segment.
The Infusion Pumps segment has shown growth rate of 5.6% during (2022 - 2028). An infusion pump is a machine that administers fluids, medicines, or blood products through the veins. It is typically attached to a lengthy catheter that is inserted into a major vein in the arm or chest. Fluid replacement, chemotherapy, and pain medicine are all possible uses for infusion pumps. The most popular type of infusion pump is an electronic pump that uses positive displacement pumping action to precisely control the rate at which fluids are given.
The North America Market dominated the Global Intravenous (IV) Therapy and Vein Access Market by Region in 2021, and would continue to be a dominant Market till 2028; thereby, achieving a Market value of $12.8 billion by 2028. The Europe Market is estimated to witness a CAGR of 4.9% during (2022 - 2028). Additionally, The Asia Pacific Market would exhibit a CAGR of 6% during (2022 - 2028).
The Market research report has exhaustive quantitative insights providing a clear picture of the Market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the Market have been discussed in the report with the elaborated company profiles of B. Braun Melsungen AG, Medtronic PLC, Terumo Corporation, Fresenius SE & Co. KGaA, Cardinal Health, Inc., Pfizer, Inc., Teleflex, Inc., Baxter International, Inc., Smiths Group PLC, and AngioDynamics, Inc.
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