The global peripheral intravenous catheter market is estimated to be valued at US$ 3,663.7 Mn by the end of 2015, reaching a value of US$ 5,224.7 Mn by the end of 2021 at a CAGR of 6.1%.
New York, NY -- (SBWIRE) -- 02/05/2016 -- Persistence Market Research delivers key insights on the Global Peripheral Intravenous Catheters Market in its latest report titled "Global Market Study on Peripheral Intravenous Catheter: Increasing Use of Safety I.V Catheters to Drive the Market for Peripheral I.V. Catheters ". The global peripheral intravenous catheters market is anticipated to expand at a healthy CAGR during the forecast period.
By product type, the global peripheral intravenous catheters market is segmented into short PIVC and integrated/closed PIVC. Among these, integrated/closed PIVC segment is expected to register fastest CAGR of 8.9% during the forecast period. Short PIVC segment is expected to contribute a maximum share to the global peripheral intravenous catheters market. Non-ported PIVC product type sub-segment is expected to register fastest CAGR over the forecast period.
By technology, the global peripheral intravenous catheters market is segmented into conventional and safety. Among these, safety segment is anticipated to be dominant throughout the forecast period and projected to account for around 66% share of the total global peripheral intravenous catheters market revenue by 2021.
By end-user, the peripheral intravenous catheters market is segmented into hospitals, ambulatory surgical centers, clinics, home use, and others. Among these, hospitals segment is estimated to be the largest segment in terms of share, at 60% of the total global peripheral intravenous catheters market revenue by 2015 end. Hospital segment is expected to register fastest CAGR over the forecast period. Ambulatory surgical centers segment is estimated to be the second most attractive segment of the global peripheral intravenous catheters market by 2015 end.
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Global peripheral intravenous catheter market growth is mainly driven by factors such as an increase in hospitalization rate in emerging countries such as India, China, Brazil, etc., enhancement in peripheral IV catheter technology, increasing the prevalence of diseases among the population, and increase in per capita healthcare expenditure across the globe. Technological advancements and increase in usage of non-irritant material in the manufacturing of peripheral intravenous catheters to avoid associated side effects are also expected to drive demand for peripheral intravenous catheters. However, complications associated with peripheral intravenous catheters such as venous puncture, blood exposure, and needle-related injuries, and the high price of safety peripheral IV catheter in developing regions such as APEJ, MEA, and Latin America are expected to hamper the growth of the global peripheral intravenous catheter market.
This report covers the trend of each segment and its sub-segments along with an analysis of the potential of peripheral intravenous catheters market in these regions. North America and Asia-Pacific regions are estimated to collectively account for over 60% revenue share of the total peripheral intravenous catheters market by 2015 end. North America is estimated to contribute a maximum share to the global peripheral intravenous catheters market. Asia-Pacific is projected to be the fastest growing market due to increase in hospitalization rate along with improvement in healthcare facilities in the region.
Key players in the global peripheral intravenous catheter market include B. Braun Melsungen AG, Smith Medical, Terumo Corporation, Inc., Becton Dickinson and Company, Tangent Medical, Vygon Group, C. R. Bard, etc. Manufacturers of peripheral intravenous catheters are working in partnership with other key healthcare solutions and services providers in order to gain maximum market share.
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