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Global IV Fluid Monitoring Devices Market Size was valued at USD 4.4 billion in 2022. The IV Fluid Monitoring Devices market industry is projected to grow from USD 4.7 Billion in 2023 to USD 8.10 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.40% during the forecast period (2023 - 2032). IV fluid transfer devices being used more frequently and worries about contamination during drug delivery, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The market for pharmaceutical devices used in intravenous fluid transfer is expected to grow significantly during the projection period. The market for IV fluid transfer medicine devices has expanded as a result of rising contamination issues. The increased use of IV fluid transfer devices during the administration of drugs is predicted to cause the global market for these devices to develop quickly in the next years. The specified risk factors are expected to cause a rise in the market for IV liquid transfer devices. Government healthcare spending will have a big impact on market expansion. In order to demonstrate IV fluid transfer devices to potential customers, businesses devote a lot of effort into manufacturing them. For different purposes and end customers, a range of IV fluid transfer medical devices are available on the market.
The use of infusion treatment devices in home care settings is increasing, which is driving growth in the global market for intravenous fluid monitoring devices. The use of infusion therapy devices in home treatments is expanding as chronic diseases like cancer become more prevalent. Devices for home infusion therapy provide safe, accurate, and exact medicine delivery based on the needs of the patient, reducing the need for extended hospital visits and rising medical costs for the treatment of chronic illnesses. Due to the rising popularity of wireless and remote programming features, which allow doctors and pharmacists to establish and monitor drug dose settings and lessen the need for frequent hospital visits, the market for home-care infusion pumps is booming.
A sizable number of brand-new products are frequently offered to the market for IV fluid transfer drugs and equipment. The creation of new technology is speeding up. Thanks to medical advancements, healthcare professionals can now treat patients more successfully and effectively. Additionally, they are reducing the overall cost of therapy, which is promoting market growth.Thus, driving the IV Fluid Monitoring Devices market revenue.
The global IV Fluid Monitoring Devices market segmentation, based on Type, includes desktop and portable. The desktop market segment accounted for the largest market share in 2022. However, the portable category is predicted to grow at the highest CAGR throughout the projection period because to the increasing choice for portable devices among patients and insurance providers.
The global IV Fluid Monitoring Devices market segmentation,based on End User, includeshospitals and clinics, ASCs, and home care. In 2022, hospitals and clinics dominated the global market, and they will continue to be crucial to the growth of the IV Fluid Monitoring Devices market in the years to come. Many patients obtain treatment in clinics because they offer better patient care, convenient appointment rescheduling, and favorable reimbursement scenarios. Clinics are seeing more patients overall. As a result, clinics and hospitals are collaborating to provide healthcare services inside hospitals.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study.The North America IV Fluid Monitoring Devices Market dominated the global market in 2022 with 45.80% share. The need for medical equipment has grown as the region's population, health consciousness, and prevalence of chronic diseases have all risen. As technology advances and designs improve, IV fluid transfer pharmaceutical devices become simpler to use, which aids in their market share growth. Further, In the North American area, the U.S. IV Fluid Monitoring Devices market had the biggest market share, while the Canada IV Fluid Monitoring Devices market had the quickest rate of expansion.
Further, the major countries studiedin the market reportare The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Europe holds the second-largest market share for IV Fluid Monitoring Devices. Because of the growing awareness and improved healthcare infrastructure in Europe, the IV Fluid Monitoring Devices market is predicted to have significant growth in the near future on the global market. Further, In the European region, the German IV Fluid Monitoring Devices market had the biggest market share, and the U.K. IV Fluid Monitoring Devices market had the quickest rate of growth.
The Asia Pacific IV Fluid Monitoring Devices market is expected to register fastest CAGR from 2023 to 2032.A significant number of prominent players are predicted to assist the growth of the IV Fluid Monitoring Devices market in the region over the course of the forecast period. The region's cutting-edge medical facilities and the broad availability of IV Fluid Monitoring Devices are partially to blame for Asia's limited market share. Moreover, In the Asia-Pacific region, the Indian IV Fluid Monitoring Devices market had the quickest rate of growth while China's IV Fluid Monitoring Devices market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the IV Fluid Monitoring Devices market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The IV Fluid Monitoring Devices sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Aerospace Foam industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the IV Fluid Monitoring Devices sector. Major players in the IV Fluid Monitoring Devices market, including Baxter International Inc., BC Group International Inc., Becton Dickinson and Co., Cole Parmer Instrument Co. LLC, Datrend Systems Inc., EVELABS TECHNOLOGIES Pvt. Ltd., Fortive Corp., GossenMetrawatt GmbH, ICU Medical Inc., IRadimed Corp., ivWatch LLC, Micrel, Medical Devices SA, MONIDOR Oy Ltd., NETECH Corp., and Pentland Medical Ltd., are attempting to increase market demand by investing in research and development operations.
B. Braun Melsungen AG (B. Braun) develops, manufactures, and sells pharmaceutical and medical products in addition to offering medical services. Infusion solutions and consumables, cleaning supplies, infusion pumps and systems, nutrition and pain management, suture materials, hip and knee implants, surgical tools, dialysis equipment and accessories, ostomy care, and wound care products are some of the company's main offerings. B. Braun provides systems and products in the fields of anesthesia, extracorporeal blood transfusion, intensive care, cardiology, and surgery. It further offers services to hospitals, clinics, and the home care sector. The company sells its products in Europe, the Americas, Asia-Pacific, Africa, and the Middle East. B. Braun's corporate headquarters are in Melsungen, Germany. B. Braun Medical Inc. received final FDA permission in March 2022 for the development of a pharmaceutical manufacturing facility in Daytona Beach, Florida. The plant will produce sodium chloride injections with 0.9% concentrations that are offered in 1,000 mL and 500 mL Braun Excel Plus IV Bags. PVC and natural rubber latex are not present in the bags for the Excel Plus IV.
There are several different medical supplies available from Baxter International Inc. (Baxter). The company's product and service offerings include surgical hemostat and sealant products, sterile intravenous solutions, generic injectable pharmaceuticals, parenteral nutrition therapy, infusion systems and devices, and dialysis for both acute and chronic conditions. The company's goods are used in hospitals, rehab centers, kidney dialysis clinics, nursing homes, and patients' homes. In addition to its own direct sales team, Baxter distributes its products through a network of independent distributors, drug wholesalers, specialty pharmacies, and other suppliers of alternative sites. The company has operations in the Americas, the Middle East, Africa, Europe, and the Asia-Pacific region. The headquarters of Baxter are located in the American city of Deerfield, Illinois. In September 2019, entered reached a legally binding agreement to acquire Cheetah Medical, a pioneer in non-invasive hemodynamic monitoring technologies.
· Baxter International Inc.
· BC Group International Inc.
· Becton Dickinson and Co.
· Cole Parmer Instrument Co. LLC
· Datrend Systems Inc.
· EVELABS TECHNOLOGIES Pvt. Ltd.
· Fortive Corp.
· GossenMetrawatt GmbH
· ICU Medical Inc.
· IRadimed Corp.
· ivWatch LLC
· Micrel Medical Devices SA
· MONIDOR Oy Ltd.
· NETECH Corp.
· Pentland Medical Ltd.
May 2019: B. Braun Melsungen AG announced a $1 billion investment and upgraded IV treatment manufacturing facilities in the American healthcare system. Intravenous (IV) fluid bags are used for the intravenous administration of medications for a range of chronic disorders like cancer, diabetes, kidney problems, etc.
· Hospitals and Clinics
· ASCs
· Home Care
· Desktop
· Portable
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
Report Scope
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 4.4 Billion |
|
Market Size 2023 |
USD 4.7 Billion |
|
Market Size 2032 |
USD 8.10 Billion |
|
Compound Annual Growth Rate (CAGR) |
7.40% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
End User, Type, and Region |
|
Geographies Covered |
North America, Europe, AsiaPacific, and the Rest of the World |
|
Countries Covered |
The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Baxter International Inc., BC Group International Inc., Becton Dickinson and Co., Cole Parmer Instrument Co. LLC, Datrend Systems Inc., EVELABS TECHNOLOGIES Pvt. Ltd., Fortive Corp., GossenMetrawatt GmbH, ICU Medical Inc., IRadimed Corp., ivWatch LLC, Micrel, Medical Devices SA, MONIDOR Oy Ltd., NETECH Corp., and Pentland Medical Ltd. |
|
Key Market Opportunities |
Technological advances |
|
Key Market Dynamics |
Growing contamination threats and increasing implementation of IV fluid transfer devices during the delivery of drugs |
The global IV Fluid Monitoring Devices Market was valued at USD 4.4 billion in 2022, and it is estimated to reach USD 8.10 billion by 2032.
The global market is projected to grow at a CAGR of 7.40% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Baxter International Inc., BC Group International Inc., Becton Dickinson and Co., Cole Parmer Instrument Co. LLC, Datrend Systems Inc., EVELABS TECHNOLOGIES Pvt. Ltd., Fortive Corp., GossenMetrawatt GmbH, ICU Medical Inc., IRadimed Corp., ivWatch LLC, Micrel, Medical Devices SA, MONIDOR Oy Ltd., NETECH Corp., and Pentland Medical Ltd.
The Hospitals and Clinics End User dominated the market in 2022.
The Desktop Typehad the largest share in the global market.
Report Code :
RL6578
Published on :
Aug 2023
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