The North America Intravenous (IV) Therapy and Vein Access Market would witness Market growth of 4.8% CAGR during the forecast period (2022-2028).
Many healthcare professionals handle medications on a daily basis in hospitals and other healthcare facilities. Despite the availability of precautionary measures, there is still a danger of exposure to these medications during procedures. Ingestion, absorption, unintentional inhalation, or skin contact with a little amount of these medications can result in a range of health concerns. Overcoming these challenges in order to provide safe IV therapy fuels the growth of the Market . intravenous therapy and vein access devices Market . Fluid infusion, blood transfusion, medicine delivery, venous pressure monitoring, and blood collection are all done with IV therapy and vein access devices.
Factors such as an increase in diabetic patients, a rise in the number of car accidents, and a rise in the number of surgical procedures are likely to fuel Market growth. Moreover, one of the key trends in the Market is a rise in demand for sophisticated procedures, such as drug administration without needles. However, the Market 's expansion is hampered by a scarcity of experienced healthcare workers. The increase in critical care therapies needed by the elderly population, as well as the rise in healthcare facilities, which would positively impact the Market . A surge in demand for IVs as an effective and fast-acting technique to provide liquids or medication in an emergency situation or for patients who are unable to take medications orally is another significant element driving the industry.
The key trends in the regional Market are its modern healthcare infrastructure and utilization of the most up-to-date equipment and technology. According to the Institute of Medicine in the United States, roughly 1.5 million patients are affected by pharmaceutical errors each year, costing an average of USD 8,750 per PADE (Potential Adverse Drug Event).
The North American Market is also known for its high level of technological advancement. In hospitals and clinics across the region, intravenous (IV) therapy and vein access devices are commonly used. The growth of the regional Market can be attributed to the home healthcare segment, as well as patients and clinicians who are steadily adopting more technologically advanced products for the routine treatment of chronic medical conditions. Furthermore, rising chronic illness incidence, an increase in surgical operations in the region, and regular product debuts by prominent Market competitors would help the regional Market .
The US Market dominated the North America Intravenous (IV) Therapy and Vein Access Market by Country 2021, and would continue to be a dominant Market till 2028; thereby, achieving a Market value of $9,245.1 million by 2028. The Canada Market is experiencing a CAGR of 7.2% during (2022 - 2028). Additionally, The Mexico Market would exhibit of 6.3% during (2022 - 2028).
Based on End User, the Market is segmented into Hospitals, Ambulatory Surgical Center, and Clinics. Based on Application, the Market is segmented into Medication Administration, Blood Based Products, Nutrition & Buffer Solution, and Volume Expander. Based on Type, the Market is segmented into Intravenous Catheters, Infusion Pumps, Hypodermic Needles, Implantable Ports, and Others. Based on countries, the Market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Intravenous (IV) Therapy and Vein Access Market is Estimated to reach $33.6 Billion by 2028, at a CAGR of 5.3%
The Market research report covers the analysis of key stake holders of the Market . Key companies profiled in the report include B. Braun Melsungen AG, Medtronic PLC, Terumo Corporation, Fresenius SE & Co. KGaA, Cardinal Health, Inc., Pfizer, Inc., Teleflex, Inc., Baxter International, Inc., Smiths Group PLC, and AngioDynamics, Inc.
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