Intravenous (IV) Equipment Market Size - By Product (IV Catheters, Administration Sets, Infusion Pumps, Securement Devices, Drip Chambers, Stopcocks and Check Valves, Needless Connectors), By End-use- Global Forecast 2023-2032

Intravenous (IV) Equipment Market Size - By Product (IV Catheters, Administration Sets, Infusion Pumps, Securement Devices, Drip Chambers, Stopcocks and Check Valves, Needless Connectors), By End-use- Global Forecast 2023-2032

Global Intravenous (IV) Equipment Market will witness 6.7% CAGR between 2023 and 2032. Surging incidences of non-communicable diseases, in line with a consistent rise in the aging population, have boosted the demand for IV therapies and treatments. According to September 2023 statistics from the WHO, each year, non-communicable diseases (NCDs) or chronic diseases claim the lives of 41 million individuals, accounting for 74% of all worldwide fatalities.

Technological advancements in IV equipment enhance safety and patient comfort, driving product adoption. Furthermore, The COVID-19 pandemic highlighted the importance of IV equipment in critical care settings, further fueling market growth. The rising preference for home-based healthcare and the expanding healthcare infrastructure in emerging markets contribute to the growth of intravenous IV equipment market size.

The overall Intravenous (IV) Equipment Market is classified based on product, end-use, and region.

The administration sets segment will undergo significant development from 2023 to 2032. These crucial components ensure precise medication delivery and fluid administration, making them vital in healthcare settings. As patient care becomes increasingly individualized, the need for advanced administration sets with features like flow control and anti-infection measures rises. The administration sets segment of the intravenous IV equipment market continues to grow in response to evolving healthcare demands.

The diagnostic centers segment will register a commendable CAGR from 2023 to 2032. IV equipment is essential for various medical procedures, including contrast-enhanced imaging and diagnostic testing. As diagnostic centers prioritize patient comfort and precise medication delivery, the demand for advanced IV equipment, such as infusion pumps and catheters, is on the rise. This trend ensures accurate diagnoses and enhanced patient experiences, positioning IV equipment as a critical component in diagnostic centers.

Europe intravenous (IV) equipment market will showcase an appreciable CAGR from 2023 to 2032. The region's robust healthcare infrastructure, alongside the increasing healthcare expenditure, drives the need for advanced IV equipment. The growing aging population contributes to the sustained demand for IV equipment in Europe, making it a prominent market segment within the healthcare industry. According to Eurostat, in 2022, over one-fifth, specifically 21.1%, of the European Union's population was 65 years of age or older. Moreover, European countries emphasize patient care, leading to the adoption of innovative IV solutions for precise medication delivery and fluid administration, further contributing to market growth.