“Global IV Dressing Market to reach a market value of USD 1.3 Billion by 2031 growing at a CAGR of 5.9%”
The Global IV Dressing Market size is expected to reach $1.3 Billion by 2031, rising at a market growth of 5.9% CAGR during the forecast period. In the year 2023, the market attained a volume of 44,950.9 thousand units, experiencing a growth of 17.3% (2020-2023).
In 2023, the Asia Pacific region acquired a significant revenue share in the IV dressing market. The Asia Pacific region is seeing an upsurge in the frequency of chronic diseases like diabetes, cardiovascular disease, and cancer, owing primarily to urbanization, sedentary lifestyles, and changing dietary patterns. Therefore, the region is expected to generate 26.55% revenue share by 2031. Also, China would consume 6,159.7 thousand units of these dressings by 2031. The Asia Pacific region's economic expansion is causing governments and private sector organizations to invest more in enhancing healthcare infrastructure and broadening access to healthcare services, increasing healthcare spending.
Ambulatory care centers provide a wide range of medical treatments and procedures on an outpatient basis. Many of these procedures, such as infusion therapies, diagnostic tests, and minor surgeries, require IV access for medication administration. Therefore, the market is expanding significantly due to the expansion of ambulatory care centers. Additionally, Cancer patients frequently undergo chemotherapy or radiation therapy, which may require IV administration of chemotherapy drugs or supportive medications. Furthermore, cancer patients may require IV fluids or blood products to manage side effects such as dehydration or anemia. Thus, because of the growing prevalence of chronic diseases, the market is anticipated to increase significantly.
Moreover, The IV dressing market, like many other sectors of the healthcare industry, experienced disruptions in the supply chain due to lockdowns, travel restrictions, and logistical challenges caused by the pandemic. Manufacturers faced difficulties in sourcing raw materials, production delays, and distribution bottlenecks, leading to shortages of IV dressings in some regions. Also, The COVID-19 pandemic increased demand for IV therapy, notably in treating critically ill COVID-19 patients. IV therapy is crucial for administering fluids, medications, and other life-saving treatments to patients experiencing respiratory distress, dehydration, or complications from the virus. Thus, the COVID-19 pandemic had a moderate effect on the IV dressing market.
However, supply chain disruptions, like natural disasters, transportation delays, or manufacturing issues, can lead to shortages or stockouts. Healthcare institutions rely on a consistent supply of dressings to support patient care and treatment, and supply interruptions can disrupt clinical workflows, cause delays in procedures, and compromise patient safety. Thus, supply chain disruptions can slow down the growth of the market.
Based on end-use, the market is classified into hospitals, clinics, and others. The clinics segment acquired 32.13% revenue share in the market in 2023. In terms of volume, the clinics segment registered 13,373.8 thousand units in 2023. Clinics perform a wide range of outpatient procedures that require IV access for medication administration, fluid therapy, and diagnostic testing. As the trend towards outpatient care continues to grow, driven by convenience, cost-effectiveness, and advancements in medical technology, the demand for dressings in clinics rises accordingly.
By type, the market is categorized as transparent and translucent. The translucent segment covered 25.23% considerable revenue share in the market in 2023 and in terms of volume the translucent segment consumes 8,418.6 thousand units in 2023. Translucent balance transparency and opacity, providing healthcare providers a partially clear view of the insertion site while offering some opacity for privacy and light protection. This versatility makes translucent dressings suitable for various clinical applications, driving their adoption across various healthcare settings. Translucent dressings are less noticeable on the skin than opaque dressings, providing a more aesthetically pleasing appearance for patients. The semi-transparent nature of translucent dressings allows for discreet monitoring of the insertion site while maintaining patient privacy and dignity, enhancing the overall patient experience.
Free Valuable Insights: Global IV Dressing Market size to reach USD 1.3 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the North America region led the market by generating 40.93% revenue share. North America has a significant population affected by chronic diseases like diabetes, cardiovascular diseases, and cancer. North America boasts advanced healthcare infrastructure with well-established hospitals, clinics, and ambulatory care centers with state-of-the-art facilities and technologies. The aging population in North America contributes to the demand for healthcare services, including IV therapy.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 820.8 Million |
| Market size forecast in 2031 | USD 1.3 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 5.9% from 2024 to 2031 |
| Quantitative Data | Volume in Thousand Units, Revenue in USD Billion, and CAGR from 2020 to 2031 |
| Number of Pages | 227 |
| Number of Tables | 490 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, End-use, Region |
| Country scope |
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| Companies Included | 3M Company, Cardinal Health, Inc., Smith & Nephew PLC, McKesson Corporation, Covalon Technologies Ltd., Becton, Dickinson, and Company, Molnlycke Health Care AB, DermaRite Industries, LLC, Dynarex Corporation, Essity AB (BSN medical) |
By Type (Volume, Thousand Units, USD Billion, 2020-2031)
By End-use (Volume, Thousand Units, USD Billion, 2020-2031)
By Geography (Volume, Thousand Units, USD Billion, 2020-2031)
This Market size is expected to reach $1.3 Billion by 2031.
Expansion of ambulatory care centres are driving the Market in coming years, however, Lack of supply chain disruptions restraints the growth of the Market.
3M Company, Cardinal Health, Inc., Smith & Nephew PLC, McKesson Corporation, Covalon Technologies Ltd., Becton, Dickinson, and Company, Molnlycke Health Care AB, DermaRite Industries, LLC, Dynarex Corporation, Essity AB (BSN medical)
In the year 2023, the market attained a volume of 44,950.9 thousand units, experiencing a growth of 17.3% (2020-2023).
The Transparent segment is leading the Market by Type in 2023; thereby, achieving a market value of $944.6 Million by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a region value of $502.6 Million by 2031.
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