Increasing Number Of Patients Suffering From Chronic Diseases Area Expected To Augment Disposable Iv Therapy Products Market Growth
The Global Disposable IV Therapy Products Market, by Product Type (Intravenous Sets, Infusion Pumps, Needleless Connectors, Other Products), by End User (Hospital, Clinics, Home Healthcare), and by Region(North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 2.1 billion in 2017 and is projected to exhibit a CAGR of 5.6% over the forecast period (2017 – 2025), as highlighted in a new report published by Coherent Market Insights. The disposable IV therapy products market is expected to gain significant traction with expanding volume of patient care activity spurred by aging demographic patterns and increasing prevalence of chronic diseases.
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Increasing product innovations is expected to drive the global market growth
Increasing use of disposable IV therapy products in majority of the application areas for drug administration has led to the demand for technically advanced products. Industry players are engaged in product differentiation through novel drug delivery systems to increase their market share. For instance, Baxter launched INFUSOR Portable Elastomeric Infusion System. It is a disposable, non-electronic infusion device, which offers continuous infusion from 12 hours to seven days. It is made for ambulatory medication therapies requiring continuous and slow infusion. The elastomeric technology promotes patient recovery and improves patient quality of life.
Browse 40 Market Data Tables and 35 Figures spread through 170 Pages and in-depth TOC on “Disposable IV Therapy Products Market”- Global Forecast to 2025, by Product Type (Intravenous Sets, Infusion Pumps, Needleless Connectors, Other Products), by End User (Hospital, Clinics, Home Healthcare) and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa)
The key players are focused on research activities and product approval and launches to accelerate business growth. For instance, in 2017, Baxter International Inc., a global medical products company and Mayo Clinic, announced a new R&D collaboration to advance innovation across a range of therapeutic areas. The partnership will bring together the development and clinical expertise at Mayo Clinic and Baxter, where researchers and clinicians will work simultaneously to develop new therapies and technologies to improve patient care. Major industry players are focused on strategic collaborations and acquisition to increase their market share. For instance, in 2015 Becton, Dickinson and Company completed the acquisition of CareFusion Corporation to expand its product portfolio for medical devices. BD has designed new medical segment structure, which includes CareFusion products.
Key Takeaways of the Disposable IV Therapy Products Market:
The global disposable IV therapy products market is anticipated to exhibit a CAGR of 5.6% over the forecast period, owing to the increasing demand for IV therapy products with rising patient volume.
Among product type, infusion pumps segment accounts for major share in the disposable IV therapy products market, owing to increasing application areas for drug administration.
Among end user, hospital segment accounts for the major share in the disposable IV therapy products market, due to increasing number of patients opting for intravenous therapy.
Key players operating in the global disposable IV therapy products market include B. Braun Melsungen AG, Baxter, Beckton Dickinson & Company, Caesarea Medical Electronics, ICU Medical, Inc., JMS Co. Ltd., Lily Medical Corporation, Smiths Medical, and Terumo Corporation.
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