Intravenous (IV) Tubing Sets and Accessories Market Growth, Shares, Future Trends and Key Countries by 2032
The global Intravenous (IV) Tubing Sets and Accessories Market was valued at USD 1.2 billion in 2022 and is projected to experience a rapid revenue compound annual growth rate (CAGR) of 4% during the forecast period. This growth is largely due to the rising prevalence of chronic diseases and the increasing need for IV therapy among patients.
IV tubing sets are designed to deliver fluids, such as medication and nutrients, in controlled amounts to a patient's body. IV tubing sets and accessories are essential for delivering IV therapy and ensuring the safety and efficacy of the treatment.
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The increasing elderly population, who are more susceptible to chronic diseases, is another factor driving revenue growth. Additionally, the demand for IV tubing sets and accessories in the residential sector is expected to rise as home healthcare services become more widely used. Manufacturers are developing sophisticated IV tubing sets and accessories that prevent bacterial contamination and reduce the risk of infection, which is driving up the use of these products to prevent hospital-acquired illnesses (HAIs).
Key players in the Intravenous (IV) Tubing Sets and Accessories Market –
- Becton, Dickinson and Company (BD)
- Baxter International Inc.
- Fresenius Kabi AG
- ICU Medical, Inc.
- Nipro Medical Corporation
- Angiplast Pvt. Ltd.
- Medtronic plc
- Braun Melsungen AG
- Avanos Medical, Inc.
- JMS Co. Ltd.
The rising government initiatives and financing for healthcare infrastructure construction is also expected to drive market revenue growth. However, the high price of sophisticated IV tubing sets and accessories, availability of substitute drug delivery techniques, and lack of awareness regarding advantages of IV therapy are major factors that could restrain market revenue growth.
According to the American Society of Anesthesiologists, more than 22 million anesthetic procedures are performed annually in the United States, during which IV tubing sets and accessories are used to deliver medications, fluids, and other treatments safely to patients. The Centers for Disease Control and Prevention estimates that around 2 billion IV tubing sets and accessories are used each year in the U.S. for medical purposes.
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The global market for IV tubing sets and accessories is segmented based on product and end-use. The product segment includes primary IV tubing sets, secondary IV tubing sets, extension IV tubing sets, IV tubing accessories, and others. The primary IV tubing sets segment accounted for the largest revenue share in the global IV tubing sets and accessories market in 2022 due to rising demand for IV therapy in hospitals and clinics.
Based on end-use, the global IV tubing sets and accessories market is segmented into hospitals, clinics, Ambulatory Surgical Centers (ASCs), and others. The hospitals segment is expected to account for the largest revenue share in the global IV tubing sets and accessories market during the forecast period. Various medical tools and supplies are available in hospitals, including x-ray machines, surgical instruments, patient monitoring devices, and IV tubing sets and accessories.
The International Organization for Standardization (ISO) sets standards for IV tubing sets accessories, including requirements such as minimum flow rates and safety ratings. The World Health Organization (WHO) emphasizes the importance of proper use of IV tubing sets and accessories to prevent infection and other complications. The U.S. Food and Drug Administration (FDA) regulates the manufacture, sales, and distribution of IV tubing sets and accessories in the U.S. to ensure safety and efficacy.
Finally, various government agencies have established guidelines for proper use, maintenance, cleaning, and storage of IV tubing sets and accessories, including the Joint Commission on Accreditation of Healthcare Organizations (JCAHO), the Centers for Medicare & Medicaid Services (CMS), the National Fire Protection Association (NFPA), and the Occupational Safety and Health Administration (OSHA). These guidelines are essential to ensure the safety of patients and healthcare workers.
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