Peripheral Intravenous Catheters Market Size

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.

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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.