Intravenous access devices: Key market research findings
- Increased adoption of antimicrobial intravenous access devices
- High demand in chemotherapy treatments
Technavio has added a new market research report on the global intravenous access devices market, which is expected to grow at a CAGR of more than 7% between 2015 and 2019. The increasing elderly population and the associated need for medication, blood sampling, nutrition, and therapies for the management of chronic diseases are propelling the growth of intravenous access devices across the globe. The Americas is the largest revenue contributor to this market due to the rising number of cancer patients undergoing chemotherapy treatments in the US.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Healthcare reforms in the reimbursement policies in has resulted in the increased usage of antimicrobial intravenous access devices in recent years. These devices reduce the incidence of infections and avoid the risk of non-payment by insurance agencies. The antimicrobial intravenous access devices are extensively used to deliver chemotherapy and antibiotics, besides drawing blood from immunocompromized patients,” says Imran Mushtaq, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
Increased usage of chemotherapy is the key driver for the growth of this market. Chemotherapy involves the intravenous administration of cytotoxic antineoplastic drugs that circulate in the bloodstream and inhibit the growth of cancer cells. These devices provide short-term access to the blood and are widely used in patients receiving chemotherapy once every few weeks.
The leading vendors in the global intravenous access devices market are AngioDynamics, B. Braun Melsungen, Becton, Dickinson and Company, C.R. Bard, and Smiths Medical. This market consists of numerous vendors that increasingly compete with each other to gain market leadership during the forecast period. The sustainability of small manufacturers is uncertain as the revenue generated by them is heavily dependent on the demand for catheters. Though many vendors enter this market due to its large customer base, only a few vendors that properly manage their sales, distribution, and working capital survive and continue their operations.
A more detailed analysis is available in the Technavio report, Global Intravenous Access Devices Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
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