South Korea Intravenous (IV) Equipments Market Overview, 2028

South Korea Intravenous (IV) Equipments Market Overview, 2028

South Korea has an aging population, with a significant proportion of elderly citizens. This demographic trend could influence the demand for healthcare services, including intravenous therapies. IV equipment tailored for geriatric care, such as infusion pumps with specific features for elderly patients, may be a focus in the market. The increasing prevalence of chronic diseases, such as diabetes and cardiovascular conditions, contributes to the demand for IV therapies. IV equipment designed for the effective and safe administration of medications for chronic diseases may see notable market growth. Cultural factors can play a role in healthcare decisions. Understanding patient preferences and cultural considerations may impact the design and features of IV equipment to ensure they align with the expectations and comfort levels of patients in South Korea. South Korea, being prone to natural disasters like earthquakes, places a high value on emergency preparedness in the healthcare sector. IV equipment that is durable, portable, and suitable for emergency situations may have a specific market niche. Collaboration between IV equipment manufacturers and the pharmaceutical industry is essential. Aligning product development with the latest pharmaceutical trends, such as the formulation of new intravenous medications, can be a strategic approach for companies in the South Korean market. Compliance with international certification standards, such as CE marking, is crucial for companies looking to export IV equipment globally. South Korean manufacturers may prioritize obtaining certifications to enhance the marketability of their products internationally. The IV equipment market in South Korea may witness a demand for devices tailored to specific therapeutic needs. For example, equipment designed for chemotherapy administration, nutritional support, or pain management may be customized to meet the unique requirements of these treatments.

According to the research report “South Korea Intravenous (IV) Equipments Market Overview, 2028,"" published by Bonafide Research, the South Korea IV Equipments market is anticipated to add more than USD 170 Million from 2023 to 2028. The incorporation of smart technologies into IV equipment, allowing for connectivity and real-time data monitoring, may be a trend. Smart pumps with features such as dose tracking, alert systems, and wireless communication could gain prominence. Advancements in needle-free IV administration technology could be a notable trend, offering solutions that reduce needle-related complications, improve patient comfort, and enhance the overall safety of intravenous therapies. Wearable devices designed for IV administration, such as wearable infusion pumps or devices for continuous monitoring of patient vitals during intravenous therapy, may become more prevalent in the market. Development of mobile applications that empower patients to manage and track their IV treatments may gain prominence. These apps could provide real-time information, reminders, and communication channels with healthcare providers. Advances in biopharmaceuticals and personalized medicine may influence trends in IV equipment. The administration of complex biologic therapies might drive the need for specialized IV delivery systems. Improvements in alarm systems and safety features in IV equipment could be a trend. This might include smarter alerts, automated safety protocols, and user-friendly interfaces to minimize the risk of errors during infusion. Specialized IV equipment designed for pediatric patients may become a noticeable trend. Child-friendly designs, precise dosing capabilities, and features catering to the unique needs of pediatric care could see increased attention.

In terms of product categories, the market is divided into V catheters, infusion pumps, administration sets, securement devices, needless connectors, stopcocks and check valves, drip chambers and others. Needless connectors play a crucial role in infection prevention and control in healthcare settings. The emphasis on reducing the risk of healthcare-associated infections (HAIs) is a driving factor for the adoption of needless connectors, as they minimize the chances of contamination during IV administration. Needless connectors are designed to enhance patient safety and comfort during intravenous therapy. The needleless design reduces the risk of needlestick injuries for healthcare providers and improves the overall experience for patients receiving IV treatments. The use of needless connectors eliminates the need for traditional needles, thereby reducing the risk of bloodborne pathogen transmission. This is particularly important in healthcare environments where safety precautions are paramount. Needless connectors are often designed for ease of use and convenience. Their user-friendly features, such as simple connection and disconnection mechanisms, contribute to their adoption by healthcare providers.

The market's end-user segment is split up into home care settings, clinics, hospitals, and other categories. South Korea, like many other countries, is experiencing an increase in its aging population. With a growing number of elderly individuals who may require long-term medical care, there is an expanding demand for IV equipment suitable for home care settings. The prevalence of chronic diseases, such as diabetes and cardiovascular conditions, often requires ongoing intravenous treatments. Home care settings provide a convenient and comfortable environment for managing these chronic conditions, driving the demand for IV equipment in homes. Government initiatives and policies that support home healthcare services can foster the growth of the Home Care Settings segment. Incentives for healthcare providers and increased awareness of home-based care options can drive the expansion of home care services. Home care settings are often considered more cost-effective than hospital-based care. As healthcare systems look for ways to optimize resources and reduce hospital admissions, the provision of IV treatments in home settings becomes an attractive option.

Considered in this report:
• Geography: South Korea
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• South Korea IV Equipments market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product:
• IV Catheters
• Infusion Pumps
• Administration Sets
• Securement Devices
• Needless Connectors
• Stopcocks and Check Valves
• Drip Chambers
• Others

By End User:
• Hospital
• Clinics
• Home Care Settings
• Others

By Indication:
• Cardiovascular Disorders & Hypertension
• Pregnancy
• Diabetes
• Respiratory Diseases
• Cancer
• Movement Disorders
• Hearing Disorders
• Wound Care
• Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the IV Equipments industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.