Peripheral intravenous (I.V.) catheters are primarily used for blood sampling and therapeutic purposes, such as administration of blood components, fluids, antibiotics, psycholeptics, and analgesics. These catheters/cannulae are inserted into a minute peripheral vein for therapeutic purposes. The advent of these catheters has reduced the incidence of bloodstream infections and hematoma-related complications. Additionally, the usage of integrated/closed and short peripheral I.V. catheters helps in preventing the transfer of blood-borne pathogens to other patients in healthcare facilities.
In addition, the rising geriatric population will also augment the need for peripheral I.V. catheters, as this age pool is highly susceptible to chronic ailments. For instance, the National Institutes of Health, under the U.S. Department of Health and Human Services, states that in the U.S., nearly 85% of the old populace suffers from at least one chronic health condition and approximately 60% has at least two. Further, the World Population Ageing 2020 report estimates that the global population of people aged 65 years and above will reach around 1.5 billion by 2050.
Moreover, the mushrooming healthcare spending is facilitating the adoption of integrated/closed and short peripheral I.V. catheters for administering medications, fluids, and blood components in individuals suffering from chronic and acute ailments. This rise is not just being seen at hospitals, clinics, and ambulatory surgery centers (ASCs) but also in homecare settings. The leading manufacturers of these catheters include Smiths Medical Inc., Teleflex Incorporated, Argon Medical Devices Inc., Tangent Medical Technologies Inc., B. Braun Melsungen AG, Terumo Corporation, C.R. Bard Inc., and VIGMED AB.
In the coming years, these manufacturers will provide an abundant amount of peripheral I.V. catheters in the emerging economies of India, Brazil, and China due to the increasing awareness about advanced treatments in the areas of oncology, gastroenterology, renal diseases, infectious diseases, and pediatric diseases. Moreover, apart from the spurring healthcare spending, the rising focus on reducing needlestick injuries will also boost the adoption of such catheters in developing countries. Besides, the introduction of several initiatives to spread awareness about the new and improved I.V. catheters will promote their usage in the coming years.
According to P&S Intelligence, North America dominated the peripheral I.V. catheter market in the past, and it will continue to do so in the coming years. This can be credited to the spurring demand for injectable drugs, surging aging population, and escalating healthcare expenditure. In the North American region, the U.S. consumes the highest quantity of peripheral I.V. catheters. Whereas, Asia-Pacific (APAC) is expected to exhibit the fastest growth in the demand for such devices in the coming years due to similar reasons.
Thus, the rising elderly population, growing healthcare spending, and increasing cases of chronic diseases will propel the usage of peripheral I.V. catheters in healthcare settings in the coming years.
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