Intravenous Catheters Market: Rise in Incidence of Target Diseases such as Cancer and Viral Infections Drives Global Market
Intravenous Catheters Market: Introduction
- The catheters that are utilized to access the patient’s vascular system through veins are known as intravenous catheters. These catheters are thin tubes that are used to serve various medical purposes such as use in administration of medications, surgical procedures, removal of body fluids, and treating diseases. Intravenous catheters are available in two different forms: midline peripheral catheters and central catheters.
- Intravenous catheters are inserted into a vein in a patient’s body and positioned within the same either to deliver various therapeutics into the patient’s bloodstream or to withdraw blood mainly for diagnostic testing. Rise in global incidence rates of chronic diseases such as diabetes, cancer, and acute infectious diseases, along with cardiovascular disorders, has tremendously increased the demand for intravenous catheters used to administer drugs to patients
- Moreover, increase in elderly population across the globe is a contributor to this rising demand for intravenous catheters
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Key Drivers and Restraints of Global Intravenous Catheters Market
- Rise in Incidence of Target Diseases such as Cancer and Viral Infections Drives Global Market
- Intravenous catheters devices are used for the delivery of various medications such as analgesics, antipyretics, anesthesia, and anticancer drugs. Increase in incidence of viral infections, cancer, and tuberculosis (TB) is expected to boost the intravenous catheters market, The most common use of intravenous catheters is for the administration of antiviral drugs and analgesics.
- According to statistics published by UNAIDS, around 37.9 million individuals globally were living with HIV at the end of 2018 and around 1.7 million people became newly infected by HIV in 2018 due to the changing lifestyles. This number is expected to grow in the near future.
- Similarly, increase in number of cancer patients is likely to augment the market, since these patients require administration of drugs and analgesic agents at regular intervals. It has been projected by the WHO that by 2030, around 13.1 million people would die from cancer worldwide.
- This alarming increase in number of cancer patients is expected to increase the utilization of intravenous catheters
- Thus, rise in incidence of target diseases such as cancer and viral infections is expected to propel the global intravenous catheters market during the forecast period
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Intravenous Catheters Market: Segmentation
- Based on product type, the global intravenous catheters market can be segmented into midline peripheral catheters and central catheters
- Midline peripheral catheters are the venous access devices that range between 3 to 10 inches in length. These catheters are usually placed in the vein of the upper arm – the cephalic vein that is below the level of axillary line.
- Central catheters are inserted in veins within the patient’s thorax. The physicians prefer to use a central catheter when administration of intravenous (IV) fluids, blood products, and medication is required in large volumes and for longer durations in the patients.
- Central catheters are further segmented into peripherally inserted central catheters (PICC) and central venous catheters
- Based on end-user, the global intravenous catheters market can be categorized into hospitals, long term care centers, ambulatory surgical centers, dialysis centers, and others
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Emerging Economies to Offer Growth Opportunities
- In terms of region, the global intravenous catheters market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is expected to constitute the largest market for intravenous catheters. Rise in prevalence of cancer in the U.S. and Canada has increased the demand for its early diagnosis and treatment. Intravenous catheters play a key role in the diagnosis and treatment of almost every disease. According to the American Cancer Society (ACS), in 2018, around 1,735,350 new cases of cancer were reported in the U.S. and over 609,640 patients died due to cancer in the same year. This increase in cancer patient population and deaths occurring due to the disease is one of the primary reasons for the growth of intravenous catheters market in North America.
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Key Manufactures Operating in Global Market
The global intravenous catheters market was highly fragmented in 2018. Key players operating in the global intravenous catheters market include:
- Becton Dickinson and Company
- Braun Melsungen AG
- Smith Medical
- Terumo Corporation
- Vygon Group
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