Intravenous Catheters Market Size

Intravenous Catheters Market Size

Intravenous Catheters Market size was valued at USD 9.4 billion in 2023 and is expected to grow a CAGR of 7.8% between 2024 and 2032. This high market growth can be primarily attributed to numerous factors including patient preference for minimally invasive procedures, rise in ambulatory care centers, increasing focus on home healthcare, rising geriatric population and growing surgical procedures across the globe.

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An increasing prevalence of chronic diseases, such as diabetes, cardiovascular diseases, and cancer, necessitates the frequent use of intravenous catheters for administration of medications and fluids. For instance, as per the data reported by Centers for Disease Control and Prevention (CDC), around 805,000 people suffer from heart attack every year in the U.S.

Additionally, 1 in every 5 persons in the U.S. or around 695,000 people died from heart diseases in 2021. Hence, the increasing number of patients experiencing various chronic disorders, coupled with supportive government initiatives, will drive the demand for the product. Moreover, favorable regulatory environments that encourage innovation and ensure product safety contribute to the growth of the intravenous catheters market.

Intravenous catheter is a tiny, flexible tube inserted into a peripheral vein that enables the administration of a broad spectrum of therapeutics including medicines and fluids directly into the bloodstream.