Peripheral Intravenous Catheter Market Size to Reach USD 10,165 Million by 2032 growing at 6.9% CAGR - Exclusive Report by Acumen Research and Consulting

Author: Acumen Research and Consulting

The Peripheral Intravenous Catheter Market, valued at USD 5,663 Million in 2023, is anticipated to surpass USD 10,165 Million by 2032, reflecting a projected CAGR of 6.9%

A number of factors are driving significant growth in the peripheral intravenous catheter market. Technological improvements in catheter design, such as the creation of safety devices to prevent needle stick injuries and infection control measures, are propelling market growth. Furthermore, the rising prevalence of chronic diseases that require long-term intravenous medication, such as cancer and diabetes, is driving up demand for peripheral intravenous catheters. Furthermore, the global elderly population, combined with an increasing number of surgeries and medical treatments, drives market expansion. Healthcare institutions are rapidly using peripheral intravenous catheters for a variety of purposes, including medicine administration, blood transfusions, and hydration treatment, driving market demand.

Moreover, manufacturers are concentrating on the development of novel materials and coatings to improve catheter performance, reduce problems, and increase patient comfort. These improvements, combined with the increased use of integrated catheter insertion devices and ultrasound-guided insertion procedures, are projected to drive market expansion in the future years. However, the industry confronts obstacles such as product recalls due to safety concerns and severe regulatory regulations. Nonetheless, strategic alliances and partnerships between important competitors, as well as expenditures in R&D, are expected to promote innovation and support market growth. Overall, the peripheral intravenous catheter market is expected to expand significantly in the near future.

Peripheral Intravenous Catheter Market Statistics

  • In 2023, the global peripheral intravenous catheter market reached a significant milestone with a valuation of USD 5,663 million
  • The market is projected to experience a robust compound annual growth rate (CAGR) of 6.9% from 2024 to 2032, indicating strong growth potential
  • North America dominated the peripheral intravenous catheter market in 2023, capturing 38% of the total market share
  • The Asia-Pacific region is poised for remarkable expansion, with a forecasted CAGR of 8% from 2024 to 2032
  • The short PIVCs product sub-segment led the market in 2023, underscoring its dominance and significance
  • Hospitals end-user emerged as a major revenue driver within the market, demonstrating its versatility
  • A notable emerging trend is the expansion of healthcare infrastructure in emerging markets

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Peripheral Intravenous Catheter Market Dynamics

Rise in the Demand for Various Infusion-Based Chemotherapy Agents Fuels the Peripheral Intravenous Catheter Market Value

The increase in demand for various infusion-based chemotherapeutic drugs is a major driver of the peripheral intravenous catheter market. Chemotherapy, a cornerstone of cancer treatment, is the intravenous infusion of powerful medications to target and destroy cancer cells. The rising global prevalence of cancer, combined with advances in chemotherapy drugs that target specific cancer types, is driving greater demand for infusion-based chemotherapy. Chemotherapy medications are frequently delivered via peripheral intravenous catheters because they are more convenient and less expensive than central venous catheters. These catheters allow for continuous delivery of chemotherapeutic medicines directly into the bloodstream, resulting in effective drug distribution throughout the body.

In addition, the increased emphasis on personalized medicine and targeted therapeutics has resulted in the development of innovative chemotherapeutic drugs with higher efficacy and fewer side effects. As a result, healthcare professionals are increasingly using infusion-based chemotherapy regimens, which are driving up demand for peripheral intravenous catheters. Furthermore, the rising prevalence of chronic diseases such as leukemia, lymphoma, and breast cancer, which sometimes necessitate lengthy courses of chemotherapy, is contributing to the greater use of infusion-based treatments. Furthermore, advances in catheter technology, such as the incorporation of safety features to avoid bloodstream infections and needlestick injuries, are driving market expansion.

Growing Technological Advancements Offers Significant Peripheral Intravenous Catheter Market Opportunity

Growing technical breakthroughs create considerable opportunities for the peripheral intravenous catheter industry. Continuous innovation in catheter design and materials improves device performance, patient comfort, and safety, fueling market development. One major improvement is the introduction of safety-engineered catheters that include measures to prevent needle stick accidents and bloodstream infections. These catheters have retractable needles, shielding mechanisms, or self-sealing ports to ensure healthcare worker safety and regulatory compliance. Furthermore, antimicrobial coatings and materials such as chlorhexidine and silver nanoparticles are being included into catheters to reduce infection risk and improve patient outcomes.

Plus, advances in catheter insertion procedures, such as ultrasound guidance and vein visualization technologies, are increasing first-time success rates while decreasing procedure-related problems. These approaches improve vein vision, allowing healthcare providers to precisely identify appropriate insertion locations while minimizing tissue stress. Also, the incorporation of digital health technologies such as electronic medical records and smart infusion pumps simplifies catheter care and improves patient monitoring. Wireless connectivity and remote monitoring features offer real-time monitoring of catheter dwell periods, infusion rates, and patient vital signs, allowing for timely intervention and improved overall patient care.

Peripheral Intravenous Catheter Market Segmentation

The global market for AI in manufacturing market has been segmented into product, end-user, and region.

  • Product segment is splits into short PIVCs, and integrated or closed PIVCs
  • End-User segment is divided into hospitals, clinics, ASCs, and others
  • The peripheral intravenous catheter market is geographically segmented across North America (NA), Latin America (LA), Asia-Pacific (APAC), Europe (EU), the Middle East and Africa (MEA)

Peripheral Intravenous Catheter Market Regional Outlook

North America leads the peripheral intravenous catheter market due to its high prevalence of chronic diseases, modern healthcare infrastructure, and advantageous reimbursement regulations. The presence of leading industry players and ongoing technological breakthroughs help to drive market expansion in this area. The Asia-Pacific region offers promising potential prospects for the peripheral intravenous catheter market, owing to improved healthcare infrastructure, increased healthcare expenditure, and an expanding patient base. Furthermore, greater awareness of infection control methods and increased adoption of innovative medical technologies are driving market growth in this area.

Peripheral Intravenous Catheter Market Players

Peripheral intravenous catheter companies profiled in the report include Argon Medical Devices Inc., B. Braun Melsungen AG, Becton, Dickinson and Company, C.R. Bard Inc., Medical Components Inc., Smiths Medical Inc., Tangent Medical Technologies Inc., Teleflex Incorporated, Terumo Corporation, and VIGMED AB.

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