Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global disposable IV therapy products market, which was evaluated at US$ 2.1 billion in 2017, is now projected to record a robust 5.6% CAGR throughout the estimated period (2017-2025).
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With the growing geriatric population, escalating incidence of chronic diseases, and increasing patient care activities around the globe, the demand for disposable IV therapy products is rising tremendously. Increasing product innovations is another essential growth driver for the global market.
Disposable IV therapy products are extensively utilized across healthcare institutions for drug administration, which calls for the introduction of more technically advanced products. Thus, industry players are engaging in product differentiation through novel drug delivery systems to expand their product portfolios. For instance, Baxter has launched the INFUSOR portable elastomeric infusion system, which is a disposable, non-electronic infusion device offering constant infusion for 12 hours up to seven days.
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Key Trends of the Global Disposable IV Therapy Products Market:
- Among product types, the infusion pumps segment accounts for a gigantic market share in the global disposable IV therapy products market, owing to increasing application areas for drug administration.
- Among end-users, hospitals came up as the leading segment, accounting for a major market share in the global disposable IV therapy products market. Multiplying number of patients opting for intravenous therapies is a vital growth factor for this segment.
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The distinguished players operating in the global disposable IV therapy products market include B. Braun Melsungen AG, Baxter, Beckton Dickinson & Company, Caesarea Medical Electronics, ICU Medical, Inc., JMS Co. Ltd., Lily Medical Corporation, Smiths Medical, and Terumo Corporation.
Manufacturers in this industry are deeply involved in research activities, and are eagerly looking forward to product approvals and launches, which would help them accelerate their business growth. For instance, in 2017, Baxter International Inc., along with Mayo Clinic, announced a new R&D collaboration to advance product innovation across a range of therapeutic areas. The market players are also concentrating on strategic collaborations and acquisitions to beef up their global market share. For instance, in 2015 Becton, Dickinson and Company completed the acquisition of CareFusion Corporation to expand its product portfolio for medical devices. BD has designed new medical segment structure, which includes various CareFusion products.
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