The peripheral intravenous catheter is venous devices manufactured using silicon and other user-friendly materials to avoid side effects. These properties enable patients to retain PIVCs in their veins or body for long durations of time without suffering ill effects. Basically, peripheral intravenous catheters are used to infuse medication and various fluids directly into a vein of a patient.
The global peripheral intravenous catheter market was valued at US$ 3,500 Mn in 2014. North America was the largest market for peripheral intravenous catheters, accounting for over 45% revenue share of the overall market in 2014, followed by Europe with around 27% share. Moreover, Asia-Pacific market is expected to exhibit highest CAGR of 6.7% during the forecast period (2015–2021), followed by the North America. Factors such as increasing per capita healthcare spending, increasing aging population, increase in a number of diseases, and advancement in PIVC technology are expected to support a growth of the peripheral intravenous catheter market over the forecast period.
The global peripheral intravenous catheter market is estimated to be valued at US$ 3,663.7 Mn by the end of 2015, reaching a value of US$ 5,224.7 Mn by the end of 2021 at a CAGR of 6.1%.
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By product, the short peripheral intravenous catheter segment accounted for around 73% of overall market value in 2014.
By technology, safety segment was valued at US$ 2,164.8 Mn in 2014 and is expected to increase at a CAGR of 7.1% over the forecast period to account for US$ 3,448.6 Mn by 2021.
By end users, hospitals segment contributed the highest revenue at US$ 2,147.6 Mn, accounting for approximately 61.4% share in 2014. Ambulatory surgical centers segment was the second-largest segment by end users, accounting for around 19.6% revenue share the same year.
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Key players 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, and Vygon Group.