Peripheral Intravenous Catheters Market

Peripheral Intravenous Catheters Market Size

Peripheral Intravenous Catheters Market size was valued at around USD 5.4 billion in 2023 and is expected to grow at a CAGR of 7.7% from 2024 to 2032. Factors such as advancements in catheter technology, prevalence of infectious diseases, increasing awareness level along with favorable government initiatives and healthcare policies are propelling the market growth.

The growing trend of home healthcare and outpatient services has led to an increased use of peripheral IV catheters outside traditional hospital settings. Patients receiving long-term treatments or palliative care at home may require peripheral IV access. For instance, as per the data reported by CareCentrix, Inc., around 95% of the payors said that treating a patient at home is cost-effective in long-term term as compared to facility treatment.

Additionally, more than 48% of all the payors have made available the at-home health care options to consumers wherever possible, and another 36% are in the process of making it possible for their consumers. Further, increasing prevalence of various disorders such as urinary, cardiovascular, etc. are expected to fuel the market development.

Peripheral intravenous catheters (PIVC) are medical devices that are used to provide temporary access to the bloodstream for the intravenous administration of fluids, medications, and other therapeutic treatments. These catheters are inserted into peripheral veins, which are veins located in the arms, hands, legs, or feet.

Peripheral Intravenous Catheters Market Trends

The rise in demand for intravenous (IV) therapies is a significant trend in healthcare, driven by various factors that highlight the effectiveness and versatility of intravenous administration. Controlled infusion rates, continuous and prolonged therapy, and suitability for critical care are some of the pointers supporting the segmental growth.

• Intravenous administration allows for precise and controlled delivery of medications directly into the bloodstream. This ensures rapid and efficient absorption, making it the preferred route for certain drugs, especially in critical situations.
  
• Further, IV therapy allows for the administration of larger volumes of fluids and medications than other routes, making it suitable for treatments such as fluid resuscitation, blood transfusions, and certain chemotherapy regimens.
  
• Moreover, in critical care settings, where patients may be unable to take medications orally, IV administration becomes essential. This is common in intensive care units (ICUs) and emergency departments.
  

Peripheral Intravenous Catheters Market Analysis

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Based on product, the market is categorized into short PIVC and integrated/closed PIVC. The short peripheral intravenous catheter (PIVC) segment accounted for majority share and was valued at over USD 3.6 billion revenue in 2023.

• Short PIVCs are often preferred for short-term medical treatments, such as administering a single dose of medication, hydration, or delivering short courses of antibiotics. They are frequently utilized in outpatient settings for various procedures that require intravenous access, such as diagnostic tests, minor surgeries, or imaging studies.
  
• Additionally, these catheters provide ease of insertion as they can be inserted quickly and easily, making them ideal for situations where immediate intravenous access is needed. Their simplicity of use is advantageous in time-sensitive scenarios.
  
• Moreover, due to their cost-effective nature in comparison to long-term catheters, healthcare providers may choose short PIVCs to minimize expenses associated with catheter use and maintenance.
  

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Based on technology, the peripheral intravenous catheters market is segmented into conventional PIVC and safety PIVC. The safety PIVC segment held leading revenue share in 2023 and is anticipated to reach USD 7.7 billion by 2032.

• Safety PIVCs incorporate mechanisms that reduce the risk of needlestick injuries during catheter insertion and removal. This is crucial in protecting healthcare professionals from exposure to bloodborne pathogens. The adoption of safety PIVCs aligns with efforts to create a safer working environment, reduce injuries, and improve the overall job satisfaction of healthcare professionals.
  
• In addition to this, stringent occupational safety regulations and guidelines highlight the importance of using safety devices in healthcare settings. Compliance with these regulations has driven the adoption of safety PIVCs to protect healthcare workers.
  

Based on lumen, the peripheral intravenous catheters market is categorized into single lumen, double lumen, and multi-lumen. The single lumen segment accounted for around USD 2.2 billion revenue size in 2023.

• Single lumen PIVCs are frequently used for the intravenous administration of medications, including antibiotics, pain relievers, antiemetics, and other drugs that do not require separate infusion channels.
  
• Single lumen PIVCs may be utilized for the transfusion of blood, red blood cells, blood platelets, or plasma when a single access point is sufficient for the intended treatment. They are commonly used for short-term medical treatments, such as one-time infusions or therapies that do not require multiple infusion channels.
  
• Furthermore, during diagnostic procedures that require intravenous access, such as contrast imaging studies or certain blood tests, single lumen PIVCs are utilized to facilitate the administration of contrast agents or collection of blood samples.
  

Based on end-user segmentation, the peripheral intravenous catheters market is categorized into hospitals, ambulatory surgical centers, and other end-users. The hospitals segment accounted for majority revenue share and was valued at around USD 3.1 billion revenue in 2023.

• Peripheral IV are essential for delivering intravenous fluids for patients who require fluid resuscitation due to dehydration, shock, or other medical conditions. This is common in emergency departments and critical care units where quick and reliable intravenous access is crucial.
  
• Additionally, PIVCs are extensively used in pediatric and neonatal units for the administration of medications and fluids to infants and children. Specialized PIVCs designed for smaller veins are often employed in these cases.
  
• Further, in oncology departments, PIVCs are used for the administration of chemotherapy drugs to cancer patients. They provide a convenient and relatively non-invasive means of accessing the circulatory system.
  

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North America peripheral intravenous catheters market accounted for USD 1.8 billion revenue in 2023 and is predicted to witness substantial market growth over the analysis timeline.

• North America has a well-established healthcare infrastructure and a significant amount of awareness and demand for cutting-edge medical advances. The region's effort to offering high-quality patient care is driving a surge in demand for sophisticated and technologically advanced medical equipment, such as peripheral intravenous catheters. Medical facilities in North America prioritize the use of novel technologies that can improve patient outcomes, increase safety, and accelerate medical operations.
  
• Furthermore, the shift to patient-centered care and outpatient services influences the demand for peripheral intravenous catheters. Healthcare professionals and patients both are looking for catheters that offer maximum comfort, reduce pain during insertion, and render maintenance easier. Manufacturers respond to this need by developing catheters that focus on patient satisfaction and ease. Such developments will further fuel the product demand in the region.
  

Peripheral Intravenous Catheters Market Share

The peripheral intravenous catheters industry is competitive in nature, with various large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced products with improved efficiency and cost-effectiveness is among a key market strategy for catheter manufacturers. Some of the leading industry players including Becton, Dickinson and Company, ICU Medical, Inc., B. Braun Melsungen AG, Boston Scientific Corporation, and Teleflex Incorporated, among others have a substantial presence in the market.

Peripheral Intravenous Catheters Market Companies

Some of the eminent market participants operating in the peripheral intravenous catheters industry include:

• AngioDynamics, Inc.
• Becton, Dickinson and Company
• B. Braun Melsungen AG
• Boston Scientific Corporation
• ICU Medical, Inc.
• Lineus Medical
• MedSource Labs
• Retractable Technologies Inc.
• Teleflex Incorporated
• Terumo Corporation
• VOGT Medical
• Vygon
  

Peripheral Intravenous Catheters Industry News:

• In November 2023, BD (Becton, Dickinson and Company) announced the launch of new needle-free blood draw technology compatible with integrated catheters.  The new PIVO pro needle-free blood collection device garnered 510(k) clearance from the FDA. It is suitable with integrated and long peripheral IV catheters, including the Nexiva Closed IV Catheter System with NearPort IV Access, which makes it the first of its kind. This includes on the current PIVO compatibility with typical short peripheral IV catheters.
  
• In March 2022, Shockwave Medical, Inc. announced the commercial launch of the Shockwave M5+ peripheral IVL catheter, which was granted both CE Mark and FDA approval. The Shockwave M5+ catheter is especially developed to reduce IVL treatment time, give alternate access options, and expand IVL therapy to patients with bigger vessels.
  

Peripheral intravenous catheters market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

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Market, By Product

• Short PIVC
• Integrated/closed PIVC

Market, By Technology

• Conventional PIVC
• Safety PIVC

Market, By Lumen

• Single lumen
• Double lumen
• Multi-lumen

Market, By End-use

• Hospitals
• Ambulatory surgical centers
• Other end-users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East and Africa