The global market is increasing, due to growing geriatric population and increasing incidence of chronic diseases. In addition, the growing demand for injectable drugs in comparison to the oral medications, increasing healthcare expenditure and technological advancements in peripheral I.V. catheter is encouraging the growth of the global peripheral I.V. catheter market.
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The information and data in the publication “Global Peripheral I.V. Catheter Market Size, Share, Development, Growth and Demand Forecast to 2022” represent the research and analysis of data from various primary and secondary sources. Bottom-up approach has been used to calculate the size of the global peripheral I.V. catheter market by type, technology, end user, and clinical area. The market numbers for countries are obtained through top-down approach. P&S Intelligence analysts and consultants interacted with the authorities from leading companies of the concerned domain, to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
The aging population is playing a key role in the growth of the global peripheral I.V. catheter market. The elderly people are more susceptible to diseases, sickness and syndromes, due to less regenerative abilities, as compared to adults. According to the National Institutes of Health (NIH), an organization that conducts and supports medical research activities across the world, about 75% to 85% of older people in elderly care facilities suffer from chronic pain, which is boosting the demand of peripheral I.V. catheters.
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The prevalence of chronic diseases, such as heart disease, cancer, stroke, respiratory disease and diabetes, is increasing due to the alteration in lifestyle and lack of access to preventive care. According to the CDC, in 2012 approximately 117 million people in the U.S. had one or more chronic health conditions.
However, the availability of alternative treatments such as oral drug therapies, and injections and complications associated with the usage of peripheral I.V. catheter acts as major restraint in the growth of the global market. In addition, the high cost of peripheral I.V. catheter is further restraining the growth of the market. The Asia-Pacific market is expected to witness the fastest growth, at a CAGR of 6.8% during the period 2016 – 2022.
The key companies operating in the global peripheral I.V. catheter market include Becton, Dickinson and Company, Terumo Corporation, B. Braun Melsungen AG, Teleflex Incorporated, Smiths Medical Inc., C.R. Bard Inc., Tangent Medical Technologies Inc., VIGMED AB, Argon Medical Devices Inc., and Medical Components Inc.