Increasing number of surgical procedures all over the world, and increasing usage of intravenous therapy devices and equipment, is expected to fuel the demand of IV Therapy and Vein Access Devices Market over the forecast period.
NEWARK, Del, June 26, 2024 (GLOBE NEWSWIRE) — The IV therapy and vein access devices market is expected to reach USD 28.7 billion by 2024. From 2024 to 2034, revenue is expected to increase by 5.1% CAGR. By 2034, the market is estimated to be worth USD 47.3 billion. A new method of dressing and securing the device will help the patient avoid significant venous access failures. In these trials, new securement and dressing technologies are evaluated for their effectiveness in preventing central venous catheter admission to failure. Care for vein access devices is crucial, especially for patients undergoing long-term IV therapy.
Aside from hygiene and troubleshooting instructions, there are also signs of infection or malfunctions to look out for IV therapy, also known as intravenous therapy, involves injecting fluids, medications, or vitamins directly into the bloodstream. It is commonly used in a variety of healthcare settings, including hospitals, clinics, and household settings. The use of vein access devices (VADs) facilitates the management of intravenous therapy. In IV therapy, peripheral IVs are among the most common VADs. Their simplicity, cost, and ability to treat short-term conditions make them a good option. It is, however, necessary to replace them frequently to prevent headaches, infiltration, and phlebitis
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IV therapy, particularly IV nutrition therapy, can be helpful for those whose digestive problems prevent proper nutrient absorption. Vitamins are administered intravenously to guarantee maximum absorption by bypassing the digestive system. IV therapy using vein access devices can make patients more comfortable by reducing needle insertion pain. With these devices, fluid and medication are administered more reliably and safely, improving the overall patient experience.
“Advances in drug delivery systems and innovative devices will propel IV therapy and vein access devices market growth. A combination of intravenous improvements and ongoing developments in IV therapy and vein access devices.” – Says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
What Are The Prevailing Opportunities In The Global IV Therapy And Vein Access Devices Market?
The increasing technological advancements in intravenous therapy (IV) and vein access and the increasing demand for advanced techniques, such as needleless administration of drugs is also vital driver for this market. IV therapy and vein access devices are used for fluid infusion, blood transfusion, administration of drugs, venous pressure monitoring, and blood sampling.
Also, rising expenditure on healthcare and an increasing number of specialty clinics and ambulatory centers will further expand the size the of IV therapy and vein access devices market in the future.
Growing government focus on advanced healthcare systems, joint efforts by supply chain executives to increase efficiency, and rising government support in developed economies is creating high potential growth opportunities for players operating in the global IV therapy and vein access devices market.
The global market for IV therapy and vein access devices is expected to witness moderate growth over the forecast period. Among the four treatment types, the Intravenous Catheters segment is expected to lead in the global IV therapy and vein access devices market over the forecast period.
Medication Administration is expected to contribute a considerable high share in the global IV therapy and vein access devices market as they are the most accessible channel.
Key Takeaways from the IV Therapy and Vein Access Devices Market:
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The IV therapy and vein access devices market generated USD 21.9 billion in 2019.
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A CAGR of 2.7% is predicted for the United Kingdom market through 2034.
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Spain is predicted to exhibit a CAGR of 4.4% over the forecast period.
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A CAGR of 3.5% is predicted for the Australia market between 2024 and 2034.
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Based on type, IV Therapy and Vein Access Intravenous Catheters accounted for 32.5% of the market in 2023.
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Competitive Landscape:
Several companies are researching and developing smart infusion pumps that can measure and adjust infusion rates in real time. Utilizing these devices improves accuracy and reduces the possibility of medication errors. The…
Read More: IV Therapy and Vein Access Devices Market is Expected to Reach USD 47.3 Billion