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Global IV Tubing Sets and Accessories Market to Grow at a CAGR of 4.2% During 2020-2025, Aided by the Growing Product Demand from Hospitals

According to a new report by EMR titled, ‘Global IV Tubing Sets and Accessories Market Report and Forecast 2020-2025’, the global market for IV tubing sets and accessories reached a value of USD 1.01 billion in 2019. The industry is further expected to grow at a CAGR of 4.2% between 2020 and 2025 to attain USD 1.28 billion by 2025.

Region-wise, North America accounts for a significant share in the industry and is expected to witness a further growth in the forecast period. The growth of the market can be attributed to the presence of innovative healthcare technologies, high disease prevalence, increasing consumption of junk and processed foods, and the availability of better healthcare infrastructures in the region. Moreover, the introduction of better reimbursement policies and growing investments towards the healthcare sector will further promote the market growth in the region. The availability of a wide variety of IV tubing options, including infusion tubing set and extension set, among others, through online platforms like Alibaba Group Holding Ltd (NYSE: BABA) and Amazon.com, Inc. (NASDAQ: AMZN) is expected to boost the sales of the product in the forecast period.

The growing mergers and acquisitions by the key players are also aiding the industry growth. In February 2017, ICU Medical Inc (NASDAQ: ICUI), one of the major players in the industry, acquired Pfizer’s Hospira Infusion Systems (HIS) business, which includes IV solutions, pumps, and devices, in a bid to enhance its infusion therapy business and increase its global reach. Moreover, in April 2019, ICU Medical, Inc. and Scripps Health, a leading health system in the western U.S., signed a long-term purchase agreement covering ICU Medical’s complete line of IV solutions and consumables, along with smart infusion pumps having IV-EHR interoperability to better manage patient safety and clinician workflows. Such developments are expected to significantly contribute to the industry growth over the forecast period.

Market Breakup by Product, Age Group, Application, End Use, and Regions:

  • The major products available in the market are primary IV, secondary IV, extension IV, IV infusion set with flow regulator, filtered IV tubing sets, non-vented IV tubing sets, vented IV tubing sets, and IV tubing accessories, among others.
  • On the basis of age group, the industry is divided into paediatric, adult, and geriatric.
  • The major applications of the product include peripheral intravenous catheter insertion, central venous catheter placement, and PICC line insertion, among others. 
  • Based on end use, the industry is categorised into hospitals, clinics, ambulatory surgery centres, and long term care centres, among others. 
  • Region-wise, the global market for IV tubing sets and accessories can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The industry is being driven by the growing prevalence of malnutrition and cardiovascular disorders globally. 
  • The favourable government initiatives and improving healthcare infrastructures are further accelerating the growth rate of the industry. 
  • The growing mergers and acquisitions by the major players are also propelling the market growth. 
  • The industry will receive further impetus with the increasing demand for smart systems and the growing acceptance of technology in the healthcare sector.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for IV tubing sets and accessories for the periods (2015-2019) and (2020-2025). 
  • The report also offers historical (2015-2019) and forecast (2020-2025) market information for the products, age groups, applications, end uses, and regional markets of IV tubing sets and accessories.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global IV tubing sets and accessories market are Becton, Dickinson and Company, B. Braun Medical Inc., Nipro Corporation, Zyno Solutions, LLC, Vygon SA, ICU Medical, Inc., and Smiths Group Plc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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