Global Intravenous Therapy and Vein Access Market Report By Type (Implantable Ports, Intravenous Catheters, Hypodermic Needles, Infusion Pumps, Other), By Medical Application (Nutrition And Buffer Solution, Volume Expander, Medication Administration, Blood Based Products), By End User (Hospitals, Ambulatory Surgical Center, Clinics) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2023-2032

Intravenous Therapy and Vein Access Market Size and Forecast 2024 to 2032

The global intravenous therapy and vein access market size is projected to be worth around USD 47.94 Billion by 2032 from USD 28.99 Billion in 2023, at a CAGR of 5.75% from 2024 to 2032. Intravenous therapy is a medical procedure in which fluids, medication, or nutrition are administered into a patient's vein, which usually ends up in the bloodstream. This mode of delivery ensures that such substances are rapidly absorbed in the body for effectiveness and accuracy. Intravenous therapy can be employed for hydration purposes, administration of antibiotics, chemotherapy, and pain management. Vein access is a technique and tool that provides entry into the patient's vein, allowing intravenous therapy to be administered, such as IV catheters or needles. The most frequent approaches toward vein access include peripheral IV insertions when a catheter goes into a small vein- usually in the arm- and central vein access, performed when a catheter is inserted into one of the larger veins, often in the neck or chest. Proper vein access is crucial to the therapy's effectiveness and minimizing complications.

Intravenous Therapy and Vein Access Market Key Highlights

• North America dominated the intravenous therapy and vein access market. This is ascribed to the increased population of senior citizens, the prevalence of chronic diseases, advanced healthcare infrastructure, and attractive reimbursement policies.
• The U.S. has the largest market share for intravenous therapy and vein access. In 2023, about 37 to 38 million admissions are expected in the U.S. This shows that the need for inpatient care continues, based on analysis of trends from previous years and ongoing data on healthcare utilization.
• The hospital segment held the highest market share due to the increased number of surgical procedures performed as compared to ambulatory surgical centers and clinics.
• The medication administration segment represented the largest market share due to the high usage of IV therapy in transferring medicines for diseases like diabetes and cancer.
• The IV catheter product segment is the fastest-growing. The increase in usage of IV catheters in surgical procedures for IV therapies and transporting blood, medicine, and other nutrients to different body parts is anticipated to drive growth in the IV catheter segment.
• The Asia Pacific intravenous therapy and vein access market is expected to exhibit the highest CAGR in the forecast period due to a surge in the aging population, increasing hospitalizations due to various health conditions, and the prevalence of chronic diseases.

Intravenous Therapy and Vein Access Market Drivers

• More Hospital Admissions: There have been increased rates of hospital admissions for outpatient treatments involving intravenous therapy. The WHO report of 2023 estimated that there were approximately 40 million hospital admissions for intravenous fluid administration in the year 2021, which is consistent with the gradually increasing trend.
• Increasing Chronic Diseases: Chronic diseases like diabetes, heart disease, stroke, and cancer have constantly been among the major causes of worldwide morbidity and mortality, most of which are required to be intravenously treated from time to time. The cost of a chronic disease is estimated to reach $47 trillion by 2030.
• Increasing Geriatric Population: The aging population is more prone to conditions requiring intravenous treatments and vein access. According to World Population Prospects 2022, the global population aged 65 and above is projected to rise from 10% in 2022 to 16% in 2050. This will lead to a growing need for Intravenous Therapy and Vein Access due to the higher incidence of age-related disorders.

Intravenous Therapy and Vein Access Market Challenges and Restraints

• Infection Rates: According to an article from Infection Control & Hospital Epidemiology, 2023, patient studies report that central line-associated bloodstream infections (CLABSIs) occur at roughly 0.8 to 2.4 infections per 1,000 catheter days. These have directly affected the market growth and pressurized the market to increased regulatory scrutiny.
• Alternative therapies: The development of alternative therapies, including oral medications and subcutaneous infusion systems, will limit demand for intravenous therapy. For example, one research study in The Lancet (2023) postulates that oral drug delivery systems are rapidly evolving to decrease dependency on intravenous methods.

Global Intravenous Therapy and Vein Access Market Share by Region (Representative Graph)

Competitive Overview

The intravenous therapy and vein access market is highly competitive, with many key players and products addressing hip conditions and patient needs. Prominent players covered in the intravenous therapy and vein access market report are Smiths medical, Medtronic Inc, B. Braun Melunsung, Pfizer Inc, terumo corporation, Fresenius SE and Co. KGaA., Baxter international plc, Cardinal Health Inc., AngioDynamics, Inc., Teleflex. This is a tentative list and can be modified as per client requirements. This section of the report will cover detailed profiles of the above companies, their business strategy, financials, and SWOT analysis. The report also covers a dedicated chapter that includes the Intravenous Therapy and Vein Access market share by companies and the latest developments with respect to mergers and acquisitions.

Recent Advancements

• Technological advancements in the intravenous (IV) therapy and vein access market are driven by the rising need to improve patient outcomes and the overall treatment experience.
• Advanced functionalities: Modern infusion pumps integrate smart technologies such as dose error reduction systems (DERS) and real-time monitoring. For example, smart infusion pumps prevent drug dosing errors by alerting users when there is a possibility of inconsistency between the dose programmed and the dose actually being delivered.
• Improved Materials: New materials use antimicrobial coatings and biocompatible polymers to reduce infection incidents and enhance patient safety. For example, antimicrobial catheters have been developed to lessen the occurrence of infection due to central line-associated bloodstream infections (CLABSIs).
• Preventing Infection: Smart IV connectors with automatic disinfection capabilities may reduce the chances of contamination and infection. These connectors maintain sterility in fluid administration.
• Improved Accuracy: Devices such as the VeinViewer and AccuVein use infrared light to view the veins, enhancing the accuracy of catheter placement. Such technology can increase the rate of first-attempt success over 90%, thus reducing patient discomfort and complications.

Latest Developments in the Intravenous Therapy and Vein Access Market

April 2024 - Mackenzie Health has become the first health system in Canada to launch technology which allows two-way information flow between an intravenous medication pump and a patient's electronic medical record. The BD Alaris™ EMR Interoperability technology eliminates the need for healthcare professionals to manually program pumps while transmitting infusion safety information back to Epic EMR, greatly reducing the potential for administration errors and providing an accurate infusion record in the EMR.

April 2024: Baxter International Inc., an innovative leader in infusion therapies and technologies, announced U.S. Food and Drug Administration (FDA) 510(k) clearance of its Novum I.Q. large volume infusion pump (LVP) with Dose IQ Safety Software. It is adding LVP modality to the Novum I.Q. The infusion platform includes Baxter’s syringe infusion pump (SYR) with Dose IQ Safety Software, powered by the I.Q. Enterprise Connectivity Suite – enables clinicians to utilize a single, integrated system across various patient care settings. Offering the Novum IQ LVP in the U.S. demonstrates Baxter’s commitment to continued innovation in advancing infusion therapy.

Global Intravenous Therapy and Vein Access Market Report: Scope

Market Segmentation

This section of the Intravenous Therapy and Vein Access market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.

By Type

• Implantable Ports
• Intravenous Catheters
• Hypodermic Needles
• Infusion Pumps
• Other

By Medical Application

• Nutrition And Buffer Solution
• Volume Expander
• Medication Administration
• Blood Based Products

By End User

• Hospitals
• Ambulatory Surgical Center
• Clinics