IV Tubing Sets and Accessories Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa

IV Tubing Sets and Accessories Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The global IV tubing sets and accessories market is anticipated to undergo significant growth in the next decade, propelled by increasing healthcare demands and ongoing technological advancements. According to Fairfield Market Research, the market is forecasted to grow steadily from 2024 to 2031, achieving a substantial valuation by the end of the period. In 2024, the market is projected to reach $1.17 billion, and by 2031, it is expected to expand to $1.50 billion, driven by a compound annual growth rate (CAGR) of 3.6%.

Historical Sales Analysis and Market Outlook

Over the past decade, the global IV tubing sets and accessories market has consistently expanded. This growth can be attributed to the increasing prevalence of feeding issues in children with conditions like esophageal atresia, leading to higher demand for tube feeding solutions. Additionally, the rise in dysphagia cases, particularly among stroke patients, has driven the need for IV tubing sets. Dysphagia affects a significant portion of stroke victims, leading to long-term feeding issues, further boosting the market demand for IV tubing sets and accessories.

Factors Driving Market Growth

Rising R&D Investments in Asia Pacific: The shift of major sectors from North America and Europe to Asia Pacific, particularly in life sciences and biotechnology, has been significant. Countries like India have become hubs for biotech project outsourcing due to their skilled workforce and cost-effective pricing.

Government Initiatives: Governments in the Asia Pacific region are actively supporting the growth of local biotechnology and healthcare industries through tax exemptions for R&D, increased budgets and funding, and foreign direct investment incentives. For instance, Singapore’s Economic Development Board, Bio*One Capital, and Biomedical Research Council (BMRC) established the Biomedical Sciences (BMS) group to advance the biomedical sciences cluster.

Technological Advancements: Manufacturers are focusing on combining several IV tubing sets to provide advanced products with enhanced structural characteristics. This, coupled with increased R&D spending, is expected to drive market growth.

Challenges to Market Growth

Despite the positive outlook, the market faces several challenges:

Regulatory Impositions: Stringent regulatory requirements, particularly from the FDA, pose significant hurdles for the introduction of novel products. Regulatory challenges have led to a shift in investments overseas, affecting global market growth.

Cost Constraints: The high cost of medical equipment and the challenges associated with maintenance and disposal also hinder market growth. The demand for sustainable manufacturing and disposal practices further adds to cost constraints.

Regional Insights

United States: The U.S. holds a considerable share of the market. The market growth in the U.S. is driven by an ageing population, a rise in chronic diseases, and the adoption of advanced healthcare technologies. The robust healthcare infrastructure and rising healthcare expenditures are also significant growth drivers.

Germany: Germany accounts for a notable share of the global market. The availability of highly qualified specialists and reimbursement policies for IV administration regimens are key factors driving market growth in Germany.

Japan: Japan has emerged as a prominent market for IV tubing sets and accessories. The rising demand for minimally invasive procedures and technologically advanced IV sets are major growth drivers. Products that offer accuracy and precision in drug delivery are particularly in demand.

Product and Application Insights

Primary IV Tubing Sets: This segment holds a significant market share. Primary IV tubing sets are essential for continuous fluid or drug infusion and are widely used in healthcare settings.

Peripheral Intravenous Catheter Insertion: This application segment holds a substantial share of the market. Peripheral IV devices are preferred for administering drugs, fluids, or blood products due to their ease of use and efficiency.

Hospitals: The hospitals segment accounts for a large share of the market. The rising prevalence of chronic diseases and the increasing number of hospitalized patients are driving the demand for IV tubing sets and accessories in hospitals.

Competitive Analysis

IV tubing set producers are prioritizing high-quality components and forming partnerships with distributors to ensure continuous product availability. Key strategies include mergers, acquisitions, infrastructure investments, and new product introductions. For instance, Baxter International Inc. announced the acquisition of Hillrom in September 2021, while Fresenius Kabi signed an agreement to acquire Ivenix, Inc. in March 2022. These strategic moves are expected to enhance product offerings and market reach.

Key Market Players Include:

Baxter International Inc.

Hospira Inc. (Pfizer Inc.)

Becton, Dickinson Company (CareFusion)

B. Braun Melsungen AG

Fresenius Kabi AG

Smiths Medical

C.R. Bard, Inc.

ICU Medical Inc.

Zyno Medical

Nipro Corporation

Poly Medicure Ltd.

Vygon U.S.A.

Health Line International Corporation

Perfect Medical Ind. Co., Ltd

Dynarex Corporation

Segments Covered in the Global IV Tubing Sets and Accessories Market:

Product:
• Primary IV Tubing Sets
• Macro-drip IV Tubing Sets
• Micro-drip IV Tubing Sets
• IV Extension Sets
• Secondary IV Tubing Sets
• IV Infusion Set with Flow Regulator
• Filtered IV Tubing Sets
• Non-Vented IV Tubing Sets
• Vented IV Tubing Sets
• IV Tubing Accessories

Application:
• Peripheral Intravenous Catheter Insertion
• Central Venous Catheter Placement
• PICC Line Insertion

End User:
• Hospitals
• Ambulatory Surgical Centers
• Specialized Clinics
• Skilled Nursing Facilities
• Long Term Care Centers
• Others

Age Group:
• Pediatric
• Adult
• Geriatric

Region:
• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa

Please note: Delivery Timelines - 5 working days.