The rise inincidences of diseases along with the increasing number of diagnostic and treatment procedures are fuelling the demand for access devices such as intravenous access (IV) devices, arterial access devices and inter-muscular access devices.
Albany, NY -- (SBWIRE) -- 09/14/2016 -- The widespread prevalence of diseases, combined by the growing number of highly-advanced diagnostic and therapeutic procedures has fueled the global intravenous access devices market. Identifying and analyzing the various forces that govern the intravenous access devices market, the report is a comprehensive blueprint for any business that is looking to carve a niche for itself in the intravenous access devices industry.
The report provides extensive, in-depth, and accurate, information on the intravenous access devices market. Quantitative and qualitative analysis by industry experts has been provided, which forms the basis of critical corporate strategies. Historic performance of the intravenous access devices industry and growth projections in the form of statistics are furnished to help businessmen make profitable decisions.
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Analytical tools such as Porter's five force analysis, value chain analysis, and SWOT analysis have been used in the intravenous access devices market report. The report also makes strategic recommendations that industry leaders can adopt for a successful business in the intravenous access devices market.
Overview of the intravenous access devices market
Intravenous access devices are used to administer drugs such as antipyretics, antibiotics, and analgesics. The three main types of intravenous access devices are catheters, needles, and infusion pumps. The prevalence of diseases such as tuberculosis and cancer has increased in recent years, together with disorders associated with old age. As a result, the demand for intravenous access devices for diagnosis and treatment has increased significantly. Moreover, the use of intravenous access devices to administer anesthetic or medication during surgeries has also risen, further supporting the market. Other factors that bolster the growth of the global intravenous access devices market include increasing number of accidents, rising popularity of home healthcare, development of vaccines, and price competitiveness.
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In contrast, the lack of regulatory approval for intravenous access devices such as insulin infusion pumps is expected to restrain the growth of the market.
The global intravenous access devices market was worth US$27.2 billion in 2012 and is projected to be worth US$46.5 billion by 2019, growing at a 7.8% CAGR during the forecast period. Growing geriatric population and a widening patient base has made North America the largest regional market for intravenous access devices and in 2012 it generated the maximum revenue. However, the Asia-Pacific region is expected to be the fastest-growing geographic segment of the global intravenous access devices market owing to factors such as rise in disposable income and purchasing power, increase in healthcare investments and expenditure, better infrastructure, growing prevalence of diseases, and large patient pool. The report states that the Asia-Pacific market for intravenous access devices will grow at a 9.4% CAGR from 2013 to 2019.
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Companies mentioned in the research report
The global market for intravenous access devices is highly competitive. The major manufacturers and vendors of intravenous access devices mentioned in the report are CareFusion Corporation, Teleflex Incorporated, Smiths Medical, Baxter International, Becton, Dickinson & Company, Fresenius Medical Care AG & Co. KGaA, B. Braun Melsungen AG, Covidien Plc, Medtronic, Inc., and Hospira, Inc. Among these, Hospira, Inc., Baxter International, CareFusion Corporation, and Becton, Dickinson and Company enjoy leading positions in the global intravenous access devices market owing to growing investments, tie-ups with large hospitals and diagnostic laboratories, and launch of advanced versions of existing intravenous access devices.
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