New study reports “Global IV Tube Sets and Accessories Market 2022 Global Market Opportunities, Challenges, Strategies and Forecast 2031” has been added on PMR.
This report offers an in-depth study ofIV Tube Sets and Accessories Market” using SWOT analysis i.e. strength, weakness, opportunities and threat to the organization. The Iv Tubing Sets and Accessories Market report also provides an in-depth investigation of major market players based on various objectives of an organization such as profiling, product outline, production quantity, material first required and the financial situation. organizational health.
Rising geriatric population in all regions is expected to drive the demand for IV tubing and accessories, as people over the age of 60 are at high risk of developing cancer. As a report by the World Health Organization (WHO) indicates, around 23.6 million new cases of chronic diseases are expected to be registered worldwide by 2031. A high frequency of chronic diseases, for example malignant diseases and kidney problems, demand diagnostic and therapeutic procedures, including dialysis.
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The major players in the market are focusing on the production of advanced tubing sets using medical and pharmaceutical grade silicones and thermoplastics as raw material to deliver an increasing level of performance. Growing demand for smaller devices fabricated from microcomponents and tubes to meet demand requirements in minimally invasive procedures is expected to provide great opportunities for market players.
The global market for IV tubing sets and accessories is estimated at US$1.7 billion in 2021, and should present a CAGR of nearly 5% over the forecast period (2021 – 2031).
- Baxter International Inc.
- Hospira Inc. (Pfizer Inc.)
- Becton, Dickinson Company (CareFusion)
- B. Braun Melsungen AG
- Fresenius Kabi AG
- Smith’s Medical
- CR Bard, Inc.
- ICU Medical Inc.
- Zyno Medical
- Nipro Corporation
- Poly Medicine Ltd.
Key insights from market research
- Primary IV tubing sets had maximum value in the market, due to the increasing number of chronic diseases resulting in increased medical procedures.
- Adults, by age group, are expected to hold a peak share in 2021, due to the rise in unhealthy lifestyle habits.
- By application, peripheral intravenous catheter insertion captured a notable revenue share of more than half of all applications in IV tubing sets and accessories.
- Due to the increase in cancer cases requiring surgeries, hospitals are expected to experience lucrative growth among all end users at a CAGR of 5%.
- North America accounted for a share of around 30% in 2020 and is expected to show significant growth over the next ten years.
- Europe is the next dominant region with a 25% market share in 2020, due to its booming medical device industry.
“Increasing geriatric population, growing number of medical procedures, rise in chronic diseases, and advanced tube technology are expected to drive the market growth,”says an analyst from Persistence Market Research.
Increased Product Launch – Imperative Strategy for Market players
To stay in the market, manufacturers are working on developing innovative products that are not only suitable and required for various medical procedures, but also to increase the comfort level of patients. Indeed, when the patient is comfortable, he will be more cooperative throughout the procedure. Additionally, since kidney disorders affect different people, for each patient, there is a need for customization and development of products that can easily be used for dialysis. Thus, most manufacturers focus on the development and approval of new products.
- For example, in 2021, the American Diabetes Association and the Baxter International Foundation partnered in a health equity initiative to remove barriers to diabetes management.
IV Tube Sets and Accessories Market – Report Highlights
- A detailed overview of the parent market of the Iv Tube Sets and Accessories Market
- Changing Intravenous Tubing Sets and Accessories Market Dynamics in Industry
- In-depth segmentation of the IV Tubing Sets and Accessories market
- Historical, current, and projected IV Tube Sets and Accessories Market size in terms of volume and value
- Recent industry trends and developments in the IV Tube Sets and Accessories Market
- Competitive landscape of the IV Tube Sets and Accessories Market
- Strategies for key players and products offered
- Potential and niche segments, promising growth geographies
- A Neutral Perspective on the Performance of the IV Tubing Sets and Accessories Market
- Essential information for IV Tube Sets and Accessories market players to maintain and improve their market footprints
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