Peripheral Intravenous Catheters Market

Peripheral Intravenous Catheters Market Size

Peripheral Intravenous Catheters Market is expected to expand at a CAGR of 6.8% from 2024 to 2034. Valued at USD 5.2 billion in 2023, the market is projected to reach USD 10.8 billion by 2034.

Peripheral intravenous catheters (PIVCs) are small, flexible tubes inserted into peripheral veins to provide intravenous access for administering fluids, medications, and drawing blood. They are extensively used in hospitals, clinics, and home care settings for short-term treatments. PIVCs are available in various types, including short peripheral catheters, midline catheters, and specialty catheters, made from materials like polyurethane and PVC. While essential for patient care, PIVCs can lead to complications such as infections and blood clots. Technological advancements in catheter design and materials aim to improve safety and patient comfort. The rising elderly population, the prevalence of chronic diseases, and enhancements in healthcare facilities drive the increasing demand for PIVCs.

Market Highlights

Peripheral Intravenous Catheters Market is expected to exhibit a CAGR of 6.8% during the forecast period, 2024-2034

Peripheral Intravenous Catheters is expected to reach $10.8 billion, with a growth rate of 6.8% due to various strong reasons. The increasing prevalence of chronic illnesses such as diabetes and cardiovascular diseases necessitates regular intravenous treatments, fueling market demand. Additionally, the aging population requires more frequent medical interventions, further driving market growth. Technological improvements in catheter design and materials, aimed at enhancing patient safety and comfort, are also contributing to the market's expansion. Enhanced healthcare infrastructure and a rising number of hospital admissions further support market growth. The market is expected to continue growing, driven by ongoing innovations and increased healthcare access in developing regions.

Source: Fatpos Global

Peripheral Intravenous Catheters Market Segmentation

Short PIVCs' cost-effectiveness and ease of use have positioned them as the leading segment

Short Peripheral Intravenous Catheters (PIVCs) have secured a leading position in the market due to their cost-effectiveness and ease of use. These catheters are commonly utilized for short-term applications such as administering medications, providing fluids, and drawing blood. They are particularly popular in outpatient settings, emergency departments, and during minor surgeries. Their affordability, combined with the simplicity of insertion and removal, has solidified their strong presence in the market. Short PIVCs are favored by healthcare facilities that prioritize budget-conscious options while ensuring efficient patient care.

Safety PIVCs dominate due to their focus on enhanced patient safety and regulatory requirements  

Peripheral Intravenous Catheters Market is classified based on Technology into Conventional PIVC, and Safety PIVC. Safety Peripheral Intravenous Safety Peripheral Intravenous Catheters (PIVCs) dominate the market due to their focus on enhanced patient safety and compliance with regulatory requirements. These safety PIVCs feature built-in mechanisms that automatically retract the needle after use, significantly reducing the risk of needle stick injuries and infections. Regulatory mandates in many countries requiring the use of safety devices have further driven the adoption of safety PIVCs. Although safety PIVCs may have a higher initial cost, their overall benefits, including reduced healthcare expenses from fewer needle stick injuries and infections, outweigh the initial investment. The industry's increasing emphasis on patient safety and healthcare worker protection has accelerated the shift toward using safer medical devices, such as safety PIVCs.

Market Dynamics

Growth Drivers

Growing Emphasis on Patient Safety is Propelling the Adoption of PIVCs’

The growing emphasis on patient safety is a significant driver of the increased adoption of peripheral intravenous catheters (PIVCs), particularly those with safety-enhanced features. Traditional PIVCs pose a risk of needle stick injuries to healthcare providers, potentially leading to infections and the transmission of bloodborne diseases. Safety-enhanced PIVCs are designed with features such as automatic needle retraction, which reduce these risks and improve overall safety. Many countries now have regulations that mandate the use of safety devices, further promoting their widespread adoption. Additionally, hospitals and clinics are recognizing the long-term financial benefits of using safety PIVCs, as they reduce costs associated with treating needle stick injuries and related infections. The increasing focus on both patient and healthcare worker safety is a critical factor driving the broad adoption of safety PIVCs in medical settings.

Rising Geriatric Population Leads to Increased PIVC Usage 

The rising geriatric population is also a key factor contributing to the increased use of peripheral intravenous catheters (PIVCs). Older adults are more susceptible to chronic illnesses and health conditions that require regular medical treatments such as hydration, medication administration, and blood tests. This demographic shift results in a growing demand for PIVCs to effectively address their healthcare needs. Furthermore, elderly individuals often have more complex medical conditions, necessitating frequent hospital visits and treatments that involve IV access. As the global population ages, healthcare systems are under increasing pressure to accommodate this expanding demographic, leading to a surge in PIVC usage. Consequently, the growing healthcare needs of the aging population play a major role in driving the growth and expansion of the PIVC market.

Restraints

Risk of Complications Associated with Peripheral Intravenous Catheters May Restrict Market Growth

The risk of complications associated with peripheral intravenous catheters (PIVCs) may limit market growth. Complications such as infections, thrombosis, and phlebitis are significant concerns when using PIVCs. Infections can occur if the catheter site is not properly sterilized, or if the catheter is left in place for too long, putting the patient at risk of severe health issues. Thrombosis, or the formation of blood clots around the catheter, can lead to discomfort and inflammation, potentially necessitating catheter removal. Phlebitis, the inflammation of a blood vessel, may occur due to mechanical or chemical irritation from the infusion fluid. These risks can lead to increased medical costs, extended hospital stays, and the need for additional medical interventions, causing healthcare providers and patients to be cautious when considering PIVC use, despite its benefits.

Recent Developments

• In 2023, Becton, Dickinson, and Company (BD) launched the "BD Insyte™ Autoguard™ BC Pro Shielded IV Catheter," enhancing safety with built-in blood control technology. In 2024, the company acquired Venclose Inc., expanding its portfolio in the venous disease treatment segment.
• In 2023, Medtronic introduced the "MiniMed 780G" system, an advanced insulin pump with improved catheter technology. The company entered into a joint venture with DaVita Inc. to enhance the development and distribution of kidney care solutions, including advanced IV catheters.
• In 2023, Baxter International launched the "Spectrum IQ" infusion system with integrated IV catheter technology. In 2024, the company acquired Hillrom, integrating advanced patient monitoring and IV therapy solutions.
• In 2023, Smiths Medical released the "DeltaVen™ Closed System Catheter," improving infection control. In 2024, the company announced strategic partnerships to enhance its catheter manufacturing capabilities and expand its market reach.
• In 2023, Teleflex introduced the "Arrow ErgoPack Complete System," a comprehensive IV catheter kit. In 2024, the company merged with Standard Bariatrics, incorporating advanced surgical tools and IV access solutions.

Peripheral Intravenous Catheters Market

Key Players:

• Becton, Dickinson and Company (BD)
• Medtronic
• Baxter International
• Smiths Medical (ICU Medical)
• Terumo Corporation
• Telefex Incorporated
• Fresenius Medical Care
• Cardinal Health
• Cook Medical
• Braun Melsungen AG
• Vygon
• Arrow International
• CareFusion
• Merit Medical Systems
• Sorenson Medical    
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Peripheral Intravenous Catheters Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America holds a strong presence in the peripheral intravenous catheters (PIVCs) market due to various reasons. The region boasts a sophisticated healthcare system that guarantees broad access to and utilization of advanced medical equipment such as PIVCs. Furthermore, the participation of dominant industry leaders, along with strong research and development efforts, promotes innovation and acceptance of new products. Regulatory requirements that emphasize patient safety and the utilization of safety-engineered devices also contribute to the growth of the market. Moreover, increased healthcare expenses and insurance availability support the use of more expensive yet safer PIVCs, strengthening North America's market leadership.  

Source: Fatpos Global

Impact of Covid-19 on Peripheral Intravenous Catheters Market

The COVID-19 pandemic had a multifaceted impact on the Peripheral Intravenous Catheters Market. The outbreak resulted in a rise in the need for PIVCs due to more people being hospitalized and requiring intravenous treatments in critical care units. Patients experiencing severe symptoms of COVID-19 frequently need significant IV therapy for fluids, medications, and blood tests, increasing the use of PIVCs. In addition, the increased emphasis on infection control during the pandemic emphasized the significance of safety-engineered PIVCs, which reduced the chances of needle stick injuries and infections. This resulted in a quicker uptake of safety PIVCs in healthcare environments. Nevertheless, the presence of PIVCs was initially limited due to supply chain disruptions and manufacturing difficulties caused by the pandemic. In the face of these difficulties, the healthcare market experienced growth as healthcare systems adjusted to the rising demand and put a focus on ensuring the safety of patients and healthcare workers. 

Peripheral Intravenous Catheters Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Peripheral Intravenous Catheters Market Scope and Segments:

Frequently Asked Questions (FAQ):