A peripheral intravenous (IV) catheter is a commonly used vascular access in medicine. The sizes of peripheral IV catheters vary according to the application. The diameter of the catheter is proportional to French gauge and inversely proportional to Birmingham gauge.
The global Peripheral Intravenous Catheter Market is estimated to account for US$ 7,535.5 Mn in terms of value by the end of 2027.
Global Peripheral Intravenous Catheter Market: Drivers
Increasing development of advanced peripheral IV catheters equipped with additional safety features to avoid needlestick injuries is expected to propel growth of the global peripheral intravenous catheter market. For instance, in July 2018, 3M launched Tegaderm Antimicrobial I.V. Advanced Securement Dressing and Tegaderm Antimicrobial Transparent Dressing to enhance its peripheral IV maintenance solution offerings.
Global Peripheral Intravenous Catheter Market: Opportunities
Emerging economies are witnessing high incidence of various disease such as cancer, acute illness, and trauma. However, the number of healthcare facilities available in these countries is relatively low. Moreover, the availability of advanced integrated/closed catheter with safety technology is low. Therefore, key players in the market can focus on manufacture and distribution of integrated/closed catheter in these countries.
Global Peripheral Intravenous Catheter Market: Restraints
Lack of training in use of peripheral IV catheters is expected to hinder growth of the global peripheral intravenous catheter market. Proper training for insertion, maintenance, and removal of catheters may help to avoid the risk factors associated with complications.
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The Short PIVC segment in the global peripheral intravenous catheter market was valued at US$ 3,025.4 Mn in 2018 and is expected to reach US$ 4,693.7 Mn by 2027 at a CAGR of 4.9% during the forecast period. Major factor attributing to the growth of the segment during the forecast period constitutes of technological advancements in product development.
The Hospital segment held dominant position in the global peripheral intravenous catheter market in 2018, accounting for 62.2% share in terms of value, followed by ambulatory surgical centers, respectively. The growth of the segment is attributed to increasing patient population suffering from chronic diseases during the forecast period.
The demand for placing vascular access specialists in every hospital across the U.S. is increasing in the recent past. This is owing to increasing number of hospitalizations and focus on reducing complications including bloodstream infections, which impact patient outcomes and increase costs.
The market is also witnessing high adoption of enhanced barrier precautions (EBPs) to prevent the spread of multidrug-resistant organisms in nursing homes. EBPs can be used in high-contact resident care activities such as central line, urinary catheter, feeding tube, tracheostomy/ventilator, and wound care.
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A medical device only can be marketed in Europe if it is granted CE Marking. A company can achieve CE marking for the device from various European regulatory agencies such as the Medicines and Healthcare products Regulatory Agency (MHRA) and the Health and Safety Executive (HSE).
The medical device regulation in Europe is based on a classification of the device into four classes, I, IIa, IIb, and III. The class I is a low risk device, class II includes medium risk devices and the class III includes high risk devices. The peripheral intravenous catheter covers under class IIa.
Peripheral intravenous catheter convers under medical devices directive 93/42/EEC (MDD). The directive 93/42/EEC includes conformity assessment routes for Class IIa medical devices such as Annex II for full quality assurance ISO 13485:2003, Annex V for production quality assurance ISO 13485:2003 (excluding Design) and Annex VI for product quality assurance ISO 13485:2003 (excluding Design & Manufacture).
The medical devices, which are submitted to the European government agencies for getting CE marking cannot refer to the safety and effectiveness of the other medical device that perform similar function that already got CE marking.
As per the British Standards Institution (BSI) the manufacturers should registered their devices with quality management system ISO 13485:2003. According to the quality management system the devices need to meet specific requirement such as design, development, manufacturing and distribution.
Global Peripheral Intravenous Catheter Market: Competitive Landscape
Major players operating in the global peripheral intravenous catheter market include, Becton, Dickinson and Company, B. Braun Melsungen AG, Smith Medical, Terumo Corporation, C. R. Bard, Inc., Tangent Medical, Velano Vascular Inc., and Vygon Group.
Global Peripheral Intravenous Catheter Market: Key Developments
Key players in the market are focused on product approval and launch to expand their product portfolio. For instance, in March 2018, Smiths Medical received the U.S. FDA clearance for its DeltaVen Closed System Catheter, a product developed by Delta Med SpA.
Key players in the market are also focused on adopting partnership strategies to expand its product portfolio. For instance, in March 2019, Delta Med SpA partnered with Levanton, a producer of infusion devices, to expand its product portfolio.
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