Albany, New York, Jan 2, 2018 : A new research report highlighting the forecast, analysis, and insights on the peripheral intravenous catheter market has been added to the comprehensive repository of Market Research Hub (MRH). The report “Peripheral Intravenous Catheter Market: Global Industry Analysis & Opportunity Assessment, 2016-2021” analyzes the market for the five year period and offers insights on the key factors that are likely to fuel market growth during the assessment period.
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According to the report, use of peripheral intravenous catheters in patient diagnosis and treatment is likely to create growth opportunities for manufacturers and vendors during the forecast period. Increasing disease prevalence, combined with rise in healthcare spending, especially in emerging countries of Asia Pacific is likely to fuel the growth of the market during the assessment period. Occurrence of epidemics and seasonal diseases has also shown to increase the demand for peripheral intravenous catheters.
An important trend in the global peripheral intravenous catheter market is the rising adoption of user-friendly and eco-friendly catheters. User preference is steadily gaining importance among manufacturers, and manufacturers are working on developing irritant-free catheters to boost market growth. Technological advancement in the development of PIVC material is also likely to provide an impetus to the growth of the market during the assessment period.
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Demand for short peripheral intravenous catheters is currently higher than integrated/closed peripheral intravenous catheters, and it is highly likely that the trend will continue during the assessment period as well. Short peripheral intravenous catheters account for over 70% revenue share of the market, and it is projected that they will continue to account for bulk of revenue share of the market during the assessment period.
Hospitals continue to be the leading end-users of peripheral intravenous catheters, and demand is expected to remain steady over the forecast period as well. This segment currently accounts for over 60% revenue share of the market, and the demand is expected to remain steady over the forecast period. North America, led by the U.S. continues to be one of the leading markets for peripheral intravenous catheter globally. Demand is also showing a steady graph in emerging economies of China, India, Brazil, and South Africa. The Asia Pacific market is likely to grow at a brisk pace during the assessment period. Some of the leading companies operating in this market include Smith Medical, B. Braun Melsungen AG, Becton Dickinson and Company, Vygon Group, C. R. Bard, Inc., Terumo Corporation, and Tangent Medical.
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