The intravenous fluid transfer drug devices global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Intravenous Fluid Transfer Drug Devices Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size —
The intravenous fluid transfer drug devices market size has grown strongly in recent years. It will grow from $6.96 billion in 2023 to $7.38 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to increase in demand for efficient medical supplies, growth of healthcare infrastructure, rise in surgical interventions requiring IV support, policy changes, increase in healthcare infrastructure, and increase in new drugs requiring precise administration.
The intravenous fluid transfer drug devices market size is expected to see strong growth in the next few years. It will grow to $9.4 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to growing demand for portable devices, increasing spending on advanced medical devices, rising demand for affordable healthcare solutions, and expanding non-hospital treatment settings. Major trends in the forecast period include integration of smart technologies, adoption of automated IV fluid transfer systems, advancements in safety features to reduce medication errors, and adoption of devices compatible with remote monitoring solutions.
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Scope Of Intravenous Fluid Transfer Drug Devices Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Intravenous Fluid Transfer Drug Devices Market Overview
Market Drivers –
The rising hospitalization rate is expected to propel the growth of the intravenous fluid transfer drug device market going forward. The rising hospitalization rate is driven by an aging population, chronic illnesses, advanced diagnostics, and increased healthcare access, alongside lifestyle-related diseases and medical technology advancements. Fluid transfer systems ensure precise and controlled administration of fluids and medications directly into the bloodstream in hospitalized patients. For instance, in May 2023, according to a report published by the American Hospital Association (AHA), a US-based healthcare trade organization representing hospitals and healthcare networks, the total number of admissions in all U.S. hospitals reached 34,011,386 compared to 33,356,853 in 2022. Therefore, a rising hospitalization rate will drive intravenous fluid transfer drug device market growth.
Market Trends —
Major companies in the intravenous fluid transfer drug device market are developing modular and comprehensive infusion systems with features such as auto-identification to enhance accuracy, improve patient safety, and streamline the administration of fluids and medications. Auto-identification in infusion systems automatically verifies and matches medications to the correct patient using barcode scanning or RFID technology. For instance, in July 2023, Becton, Dickinson, and Company, a US-based medical device company, received FDA 510(k) clearance for its updated BD Alaris Infusion System. The BD Alaris Infusion System has updated hardware for its Point-of-Care Unit (PCU), including large volume pumps, syringe pumps, patient-controlled analgesia (PCA) pumps, respiratory monitoring, and auto-identification modules. It also introduces an advanced software version with improved cybersecurity and interoperability features that allow for seamless integration with widely used electronic medical record (EMR) systems, supporting smart and connected healthcare.
The intravenous fluid transfer drug devices market covered in this report is segmented —
1) By Type: Infusion Bags, Infusion Devices, Other Types
2) By Application: Autoimmune Diseases, Blood Disorders, Cardiovascular Disorders, Neurology, Oncology, Other Applications
3) By End-Use Sector: Hospitals, Specialized Clinics, Other End-Use Sectors
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Regional Insights —
North America was the largest region in the intravenous fluid transfer drug devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intravenous fluid transfer drug devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies —
Major companies operating in the intravenous fluid transfer drug devices market are Cardinal Health Inc., 3M Company, Medtronic plc, Becton, Dickinson and Company, Baxter International Inc., B. Braun Holding GmbH & Co. KG, Fresenius Kabi AG, Mindray Medical International Limited, Nipro Corporation, Moog Inc., West Pharmaceutical Services Inc., ICU Medical Inc., Insulet Corporation, Merit Medical Systems Inc., Avanos Medical Inc., Vygon SAS, NxStage Medical Inc., AngioDynamics Inc., Elcam Medical Inc., InfuSystem Holdings Inc., CODAN US Corporation, Zyno Medical LLC, Sippex, Arcomed AG< /b>
Table of Contents
1. Executive Summary
2. Intravenous Fluid Transfer Drug Devices Market Report Structure
3. Intravenous Fluid Transfer Drug Devices Market Trends And Strategies
4. Intravenous Fluid Transfer Drug Devices Market — Macro Economic Scenario
5. Intravenous Fluid Transfer Drug Devices Market Size And Growth
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27. Intravenous Fluid Transfer Drug Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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