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The intravenous therapy and vein access market is estimated to grow by USD 6.52 billion, at a CAGR of 4.65% between 2023 and 2028. Market growth is influenced by several key factors, notably the rising prevalence of chronic diseases, an expanding geriatric population, and growing demand for parenteral nutrition solutions. As chronic diseases become more prevalent globally, there is a heightened need for advanced medical treatments and supportive care, driving demand for pharmaceuticals and healthcare services. The increasing geriatric population further amplifies this demand, as older adults require specialized healthcare products and services tailored to their age-related health needs. Additionally, the growing recognition of parenteral nutrition as a critical medical intervention underscores a shift towards nutritional therapies that support patients unable to consume adequate nutrients orally. These factors collectively shape the market landscape by fostering innovation in healthcare solutions, pharmaceutical development, and nutritional therapies. Stakeholders across healthcare, pharmaceuticals, and nutrition industries are positioned to capitalize on these trends, leveraging opportunities to meet evolving healthcare demands and improve patient outcomes in an aging population facing chronic health challenges.
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The market share growth by hospitals segment will be significant during the forecast period. This segment includes the distribution of these systems through hospitals, which are mainly used for procuring and dispensing to patients within hospital settings hospitals are responsible for. Hospital pharmacies play an important role in the supply chain of these systems, they also provide guidance to healthcare providers on the appropriate use and administration of such systems. Products of this segment vary on the needs of the hospital and its patients. For instance, saline solutions, dextrose solutions, and parenteral nutrition solutions..
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The hospitals segment was valued at USD 10.19 billion in 2018. Supplying IV therapy and vein access systems to patients, hospital pharmacies play an important role in managing the inventory of these systems within the hospital. with IV therapy being one of the most common treatments in hospitalized patients accounting for a significant share of IV solution sales. Hence, the hospital segment is the main distribution channel that will contribute to the growth of the global IV therapy and vein access market during the forecast period.
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North America is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. In 2022, the global market was dominated by North America due to rising healthcare costs, rising chronic illness rates, and an aging population. During the forecast period, the growth of the regional market in focus will be driven by the increasing focus of major market players on emerging markets, rising disposable income, adoption of infusion therapy devices, and an increase in the number of clinics and hospitals like Mayo Clinic Hospital, ProMedica Toledo (Ohio), and Brigham and Women's Hospital (Boston). Such factors will increase the market growth in this region during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
AngioDynamics Inc.: The company offers intravenous IV therapy and vein access such as LifePort lipid-compatible infusion set.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is pivotal in modern healthcare, encompassing a wide array of technologies and solutions to facilitate effective medical applications. Key components include IV catheters, hypodermic needles, and infusion pumps that deliver vital nutrition and buffer solutions directly into patients' veins, crucial for conditions like diabetes and other medical treatments requiring intravenous therapy (IV). Vascular access is optimized through advanced catheters and infusion technology, supported by auxiliary accessories for enhanced performance in home healthcare settings and ambulatory care facilities. Technological progress includes innovations such as novel catheters with tip locating systems and ultrasound-guided vein imaging methods, improving accuracy and reducing complications like infections and phlebitis. Emerging trends like smart catheters, wearable alternatives, and real-time monitoring capabilities leverage AI and machine learning to personalize IV drug regimens and enhance patient outcomes. The market also explores biodegradable materials and closed-loop medicine preparation, reflecting ongoing advancements in delivering safe and efficient intravenous therapies across diverse healthcare settings.
Technological advancements in IV solutions are the primary market trends shaping the growth. The latest technological advancements in these systems have raised their efficiency and safety. The latest technological advancement in the market is the development of smart IV pumps. Smart IV pumps are designed to reduce the risk of medication errors and to improve patient safety. Smart IV pumps automatically adjust the infusion rate based on the patient's weight, age, and medical condition.
Futher, closed-system transfer devices (CSTDs) are designed to protect healthcare workers from exposure to hazardous drugs during the preparation and administration of IV therapy. Major Player ICU Medical, Inc. launched its Clave Guard infusion set, which has a feature such as a built-in CSTD that protects healthcare workers from exposure to hazardous drugs. Hence, Technological advancements in IV therapy and vein access are expected to drive the growth of the global market during the forecast period.
The high cost of IV solutions is the major challenge for the global market. Due to factors such as the high cost of raw materials, manufacturing processes, and transportation costs, the cost of IV therapy and vein access has been increasing continuously. The high cost of these systems is affecting the global market in multiple ways. It leads to a decrease in demand for IV therapy and vein access, as many patients are unable to afford these due to the high cost. In developing countries, where access to affordable healthcare is already limited, the high cost of IV therapy and vein access is not affordable for healthcare providers.
Moreover, such systems are leading to a decrease in profitability for companies and distributors of these systems. Many healthcare providers are switching to cheaper alternatives, such as oral medications or subcutaneous injections, to reduce costs. However, many cancer patients require IV therapy and vein access as a part of their treatment, but the high cost of these solutions can be a financial burden for both patients and healthcare providers. Hence, the high cost of these systems is the major significant challenge to the global market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
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The market plays a crucial role in modern healthcare, particularly in managing trauma cases and road accidents where immediate critical care therapies are essential. IV therapy involves the administration of fluids, medications like artesunate injection, and nutrition directly into the bloodstream via IV poles and advanced access devices such as NXgenPort. These devices, often made from materials like polyvinyl chloride (PVC) and diethylhexyl phthalate (DEHP), ensure the safe and effective delivery of treatments to support patients' circulation and digestive system needs. Healthcare professionals rely on IV therapy for fluid replenishment and nourishment during medical procedures, addressing healthcare expenditure concerns and maximizing healthcare insurance benefits. As innovations continue, including Minnesota-based startup developments in intravenous line technology, the market evolves to meet the increasing demand for reliable vein access solutions, enhancing patient care and recovery outcomes in diverse clinical settings.
Further, the market plays a crucial role in modern healthcare, encompassing various medical applications. IV treatments are essential for delivering medications, fluids, and blood products directly into the veins, ensuring a rapid and effective response. The market sees continuous growth with the approval of new IV drugs for treating conditions like rheumatoid arthritis, Crohn's disease, osteoporosis, systemic lupus, and multiple sclerosis. In the realm of surgeries, particularly in cardiovascular procedures, IV therapy is integral. The Thoracic and Cardiovascular Surgeon Journal often features advancements in heart surgery procedures, including coronary artery bypass grafting, heart valve procedures, and heart transplantations. IV access devices, such as implantable ports, play a pivotal role in reducing blood loss during open-heart surgeries. Concerns related to materials like PVC and DEHP in IV therapy and vein access devices are also addressed, emphasizing patient safety. The utilization of implantable ports, often placed near the collarbone, demonstrates advancements in providing effective and reliable access to intravenous therapies, contributing to the overall progress of the healthcare industry.
Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.65% |
Market growth 2024-2028 |
USD 6.52 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.37 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 45% |
Key countries |
US, Germany, Japan, France, and Canada |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AngioDynamics Inc., B.Braun SE, Baxter International Inc., Becton Dickinson and Co., Cardinal Health Inc., Fresenius SE and Co. KGaA, ICU Medical Inc., IRadimed Corp., Medtronic Plc, Poly Medicure Ltd., Smith and Nephew plc, Tekni Plex Inc., Teleflex Inc., Terumo Corp., and Vygon SAS |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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