Intravenous Equipment: A Global Strategic Business Report
San Jose, California (PRWEB) October 30, 2012
Follow us on LinkedIn – Intravenous equipment allows medical care professionals to directly deliver medication into patients’ circulatory system. Growing dependence on intravenous drug therapy and need for accurate administration of intravenous fluids are contributing to strong growth in the global intravenous equipment market. Though intravenous equipment is designed for both general care and critical care applications, majority of these systems are purchased for general care applications, as these can be used both for hospital-care and home-care applications. Level of control offered for patients as well as medical professionals, programmability, weight, size, cost, service, number of delivery channels offered, and mechanism of infusion are some of the factors determining the popularity of an intravenous system. Poor infection control and high risk of bacterial contamination continue to pose major challenges, especially in third world countries. This has led manufacturers to integrate error-free safety mechanisms into the hardware component, and offer a range of safer intravenous catheters designed to contain contamination and prevent needlestick injuries among the nursing staff.
In light of the present economic volatility, growth in the medical equipment market has been heterogeneous with the developing markets maintaining relative resilience and developed countries reeling under budgetary pressures. Economic constrain has caused several people to postpone treatment while tough employment outlook has left many without employer-sponsored health benefits. Europe in particular is witnessing uncertain conditions owing to the sovereign debt crisis. One of the key concerns for the medical devices industry in Europe is the implications of austerity measures on financial budgets for procuring capital equipment and the impact of such measures on procedure volumes and patients. Pressure on health care budgets is one factor that will continue to drive a more general trend toward increased consolidation in medical devices space in the next three to five years. On the other hand, spiraling hospital care costs in developed nations are driving the shift of patient care to alternate care sites such as skilled nursing facilities, ambulatory surgical centers, subacute centers, and homes, thereby fuelling demand for medical equipment, furniture and furnishing for use in alternate site surgery practices.
As stated by the new market research report on Intravenous Equipment, the United States represents the single largest market worldwide. The adoption of Needlestick Safety and Prevention Act would encourage sales of high-priced intravenous equipment with state-of-the-art safety features. Asia-Pacific represents the fastest growing market for intravenous equipment, owing to the steady economic growth and increasing standards of living, particularly across countries such as China and India, which are enhancing demand for improved healthcare delivery and medical equipment.
Infusion Pumps & Sets represents the largest segment in the global intravenous equipment market. Development of technology in the infusion pumps space is also influenced by transfer of patient care to departments with low-acuity and to home in some cases, to reduce the treatment cost. Modern intravenous infusion equipment such as electronic infusion pumps and disposable infusion pumps are intelligent, smart, safe, and effective. Software-enabled intravenous infusion pumps and catheters have also been developed to overcome medication errors. The evolutionary lifecycle characterizing technology advancement has spewed the development of several types of specialty intravenous catheters.
Peripherally Inserted Central Catheter (PICC), the fastest growing sub-segment within the intravenous catheters market, is a life saving equipment designed to intravenously administer drugs directly to a patient’s heart. Commercial success of this product is primarily attributed to lack of an alternate replacement technology since the need for administering drugs into the central circulatory system is unavoidable and is used in almost every patient in the ICU.
Major players profiled in the report include Animas Corporation, ASCOR S.A., B. Braun Melsungen AG, Baxter International Inc., Becton, Dickinson and Company, C.R. Bard Inc., CareFusion Corporation, Covidien plc, Fresenius Kabi AG, Hospira Inc., I-Flow Corp., Medical Technology Products Inc., Medtronic Inc., Moog Inc., Roche Insulin Delivery Systems Inc., SIGMA LLC, Smiths Medical MD Inc., Teleflex Medical Inc., Terumo Corp., and ZOLL Medical Corporation.
The research report titled "Intravenous Equipment: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections across geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, and Rest of Europe), Asia Pacific, Latin America, and Rest of World. Product segments analyzed include Intravenous Catheters (Single-Lumen Catheters, Multi-Lumen Catheters, and PICC) and Infusion Pumps & Sets.
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