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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.
Peripheral intravenous catheters industry reached USD 5.4 billion in 2023 and is set to expand at a 7.7% CAGR from 2024-2032 driven by the advancements in catheter technology, the prevalence of infectious diseases along with favorable government initiatives and healthcare policies.
Short peripheral intravenous catheter (PIVC) market generated more than USD 3.6 billion in revenue in 2023 and is projected to witness high demand through 2032 attributed to the benefits of ease of insertion, simplicity of use, and cost-effectiveness.
North America peripheral intravenous catheters industry was USD 1.8 billion in revenue in 2023 and is poised to record substantial gains by the end of 2032 driven by the presence of a well-established healthcare infrastructure.
Some of the leading peripheral intravenous catheter firms are AngioDynamics, Inc., Becton, Dickinson and Company, Boston Scientific Corporation, ICU Medical, Inc., Lineus Medical, MedSource Labs, Retractable Technologies Inc., Teleflex Incorporated, Terumo Corporation, VOGT Medical, and Vygon.