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By 2032, the Global IV Therapy and Vein Access Devices Market is expected to be worth $44.4 billion USD

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Ganesh Shinde
By 2032, the Global IV Therapy and Vein Access Devices Market is expected to be worth $44.4 billion USD

According to a recent Future Market Insights report, the global IV Therapy and Vein Access Devices Market will generate US$ 44.4 billion while growing at a 5.6% CAGR during the forecast period. In the coming years, market growth is expected to be fueled by increasing government support. The industry is expected to generate $25.8 billion USD in 2022.

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Global IV Therapy and Vein Access Devices Market CAGR (2022-2032)

5.6%

Global IV Therapy and Vein Access Devices Market (2032)

US$ 44.4 Billion

Global IV Therapy and Vein Access Devices Market Attraction

The rising number of intravenous (IV) drug approvals and increasing technological advancements in intravenous therapy (IV) and vein access are expected to drive the market in the forecast period.

Increased healthcare spending, increased awareness of healthcare procedures, and an increase in the number of specialty clinics and ambulatory centres will all contribute to the market's future growth.

The medical administration segment, according to the research, is expected to provide lucrative opportunities for the global IV therapy and vein access devices market. Several developing countries are making significant budget changes, opening up lucrative opportunities for market participants.

Key Takeaways from the Market Study

  • Intravenous catheters are expected to grow at a 5.5% CAGR by 2032.
  • The medical administration segment is expected to grow at a 5.6% annual rate during the forecast period.
  • From 2022 to 2032, the US market will be worth $15.9 billion, with a 5.4% CAGR.
  • China's market will acquire US$ 3.2 billion, expanding at a 4.9% annual rate during the assessment period.

Competitive Landscape

Eminent players of the global IV Therapy and Vein Access Devices Market include Becton, Dickinson and Company, B. Braun Holding Gmbh & Co. Kg, Terumo Medical Corporation, Teleflex Medical Inc., and Medtronic Inc. among others. Recent key developments among players include:

  • In February 2022, BD (Becton, Dickinson and Company) announced the acquisition of Cytognos, a privately held company based in Salamanca, Spain that specialises in flow cytometry solutions for blood cancer diagnosis, minimal residual disease (MRD) detection, and immune monitoring research for blood diseases.
  • Teleflex will release the Arrow® ErgoPack® Complete Multi-LumenAccessCatheter (MAC) System and the Arrow® ErgoPack® Complete Percutaneous Sheath Introducer (PSI) System in January 2021. High-flow Arrow® MAC Catheters are designed to meet the needs of a wide range of patients, from trauma to cardiac, and provide broad-spectrum antimicrobial protection against gram-positive and gram-negative bacteria and fungi, which are the primary infectious pathogens responsible for CLABSI.

Get More Details of Report@ https://www.futuremarketinsights.com/reports/iv-therapy-and-vein-access-devices-market

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Ganesh Shinde
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