Peripheral intravenous catheters are one of the most vital tools used in the delivery of patient care within a healthcare facility. These medical devices are used to infuse medication and fluids directly into the veins of a patient or draw blood samples for testing purposes. These catheters are inserted into the body of a patient using a needle, which is removed once the catheter is placed properly. A peripheral intravenous catheter is then attached to the patient’s skin using a medical adhesive tape.
These catheters are commonly inserted into the veins of a patient’s hands and arms, using a medicated needle. As mentioned earlier, this needle is then withdrawn and the peripheral I.V. is left in the vein and attached to the patient’s skin using an adhesive tape. The peripheral intravenous catheter is manufactured from user-friendly materials such as silicon, Teflon, and others to avoid the occurrence of any side effects. Depending upon the type of material used for producing these catheters, the time-of-use of peripheral intravenous catheters varies from a few days to weeks.
North America Dominates Global Peripheral Intravenous Catheter Market
A recent study released by Persistence Market Research (PMR) states that the global peripheral I.V. catheter market stood at US$3.5 bn in 2014, with North America leading the market from the forefront. The region, according to the study’s findings, accounted for over 45% of the global market for peripheral intravenous catheters in 2014, based on revenue. While Europe held the second largest market share, accounting for 27%, Asia Pacific is anticipated to exhibit the fastest CAGR at 6.70% between 2015 and 2021, followed by North America. Healthcare spending in Asia Pacific has increased significantly in recent years, aiding the overall demand for peripheral intravenous catheters in the region. Furthermore, the increasing geriatric population and growing prevalence of chronic ailments, coupled with advances introduced in PIVC technology, boost the Asia Pacific peripheral intravenous catheters market. The PMR report states that the global peripheral intravenous catheter market, which was valued US$3.6 bn in 2015, will reach US$5.2 bn by 2021, exhibiting a positive CAGR of 6.10% during the period.
Increasing Incidence of Chronic Illnesses Drives Global Peripheral Intravenous Catheter Market
Increasing incidence of chronic illnesses and infections is the primary factor driving the global market for peripheral intravenous catheters. The market is also fuelled by the increasing per capita expenditure on healthcare and the latest advancements introduced in peripheral IV catheter technology. However, there are a few complications arising from peripheral intravenous catheters as well. For instance, there are chances of blood exposure and needlestick injuries when these catheters are inserted into the human body. It is therefore rather important for healthcare professionals to be highly cautious during the process to ensure proper patient safety. Furthermore, the high cost of peripheral IV catheters in developing regions such as MEA and APEJ also hampers the market’s growth to an extent.
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Complications Associated with Peripheral Intravenous Catheters Inhibit the Market
The global market for peripheral intravenous catheter is presently witnessing increasing development and usage of power-injectable closed catheters. However, side effects and complications associated with the device such as infection, extravasation and occlusion, and phlebitis inhibit the hindrance-free run of the market.