A new report by Persistence Market Research titled “IV Tubing Sets and Accessories Market: Global Industry Analysis (2012–2016) and Forecast (2017 – 2025)” tracks the growth and performance of the global IV tubing sets and accessories market for a period of eight years from 2017 to 2025.
New York, NY -- (SBWIRE) -- 12/28/2017 -- According to this report, the global IV tubing sets and accessories market is projected to register a CAGR of 3.7% in terms of value during the projected period of 2017-2025 and be valued at US$ 1,248 Mn by the end of 2025. This growth is primarily driven by an enhanced sales network and distribution channels along with a wide availability of IV tubing sets.
Global IV Tubing Sets and Accessories Market: Drivers
Growing number of surgical procedures across the world
Increasing strategic acquisitions and distribution and collaboration agreements among leading players along with the presence of strong distribution channels
Skilled manpower and financial capability to purchase costly IV tubing sets
Rapid growth in the global aging population
Growing adoption of advanced IV tubing sets
Rising application of IV tubing sets in pain management
On the basis of product type, the global IV tubing sets and accessories market is segmented into primary IV tubing sets, secondary IV tubing sets, extension IV tubing sets, IV infusion sets with flow regulators, filtered IV tubing sets, non-vented IV tubing sets, vented IV tubing sets, and IV tubing accessories. Primary IV tubing sets consists of macro-drip IV sets and micro-drip IV sets. The primary IV tubing sets segment is expected to account for a 28.5% market share in 2017, which is expected to reach 29.5% by 2025 end. This segment is estimated to account for a high revenue contribution to the global IV tubing sets and accessories market followed by the IV extension sets segment during the forecast period.
The application segment includes peripheral intravenous catheter insertion, central venous catheter placement and PICC line insertion. Peripheral intravenous catheter insertion segment dominated the global IV tubing sets and accessories market in revenue terms in 2016 and is projected to continue to do so throughout the forecast period. Clinical diagnostics is projected to be the most attractive segment with an attractiveness index of 2.6 during the forecast period.
Pediatric, adult, and geriatric are included in the age group segmentation of the global IV tubing sets and accessories market. Pediatric segment is expected to be the most lucrative, with an attractiveness index of 2.6 during the forecast period and is estimated to account for a market share of 76.4% in 2017 in terms of revenue. Growing consumption of IV tubing sets and increased rate of infusion therapies in pediatrics make this an attractive segment.
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By end user the global market is classified into hospitals, specialized clinics, ambulatory surgical centers, skilled nursing facilities, long term care centers and others. Hospitals segment dominated the global IV tubing sets and accessories market in revenue terms in 2016 and is projected to continue to do so throughout the forecast period. Hospitals is expected to be the most attractive market.
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Regional segmentation comprises North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Europe and Asia Pacific are expected to be lucrative regional markets, with a market attractiveness index of 1.4 during the forecast period. A large consumer base, favorable reimbursement scenario and accessibility and affordability of diagnostic services are some of the factors contributing to the growth of the APAC market for IV tubing sets and accessories.
Baxter International Inc., Hospira Inc. (Pfizer Inc.), Baxter International Inc., Hospira Inc. (Pfizer Inc.), Becton, Dickinson and Company (CareFusion), B. Braun Melsungen AG, Fresenius Kabi AG, Smiths Medical, C.R. Bard, Inc., ICU Medical Inc., Zyno Medical, Nipro Corporation, Poly Medicure Ltd., Vygon U.S.A, Health Line International Corporation, Perfect Medical Ind. Co., Ltd, and Dynarex Corporation are some of the top companies profiled in this report.
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