The global IV tubing sets and accessories market was valued at USD 849.1 million in 2019 and is expected to grow at a CAGR of 3.9% during the forecast period. The prominent factors positively impacting the growth of the market include an increase in hospital admission rate with rise in patient’s disposable income and insurance coverage in low-income countries, the surge in infectious diseases, life-style borne disorders, and rising cases of geriatrics seeking medical attention across the globe.
The market in high income countries is also growing due to its frequent replacement in the majority of hospitals as a basic medical supply necessity, product innovation, and strong guidelines by regulatory agencies to limit ill impacts.
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There has been a rise in the incidence and prevalence of coronary artery diseases (CAD) associated diseases globally, with a sudden cardiac arrest being the leading cause of death among individuals aged 60 years and above. According to National Institute of Health (NIH), currently about 8.5% (617 million) of the global population are of 65 years and above age. This number it is estimated to increase to nearly 17% by 2050 (1.6 billion). In Americas, 65 and above aged population is expected to be doubled and cross 85 million by 2050. CAD is the most common heart disease affecting millions of people worldwide.
CAD occurs due to the development of plaques on the walls of the coronary arteries. The deposition of plaques restricts the blood flow to the heart, ultimately blocking the coronary artery causing atherosclerosis (narrowing of the blood vessel). The factors contributing to the CAD are sedentary life style, smoking, alcohol, high levels of cholesterol in blood and diabetes. According to the American Health Association (AHA), cardiac disorders accounted for over 0.45 million deaths in the US each year. Hypertension is the most common reason for heart failure caused due to rise in blood pressure in the arteries. This is an important risk factor for various cardiovascular diseases such as heart failure, stroke, coronary artery disease, and peripheral vascular disease.
As per Center for Disease and Control (CDC) statistics, about 370,000 people annually are died with coronary heart disease in the US. In China, there are approximately 3 million yearly deaths due to coronary ventricular disease (CVD), which is the 41 percent of the total deaths in the China. In Canada, 2.4 million people live with ischemic heart disease. Moreover, in Europe region CVD causes more than half of the deaths. In Europe factors such as diabetes prevalence, sedentary lifestyle, increased alcohol and cigarette use contribute to the growing number of CAD diseases. Thus, the growing number of patients suffering from coronary heart disease and hypertension would increase the demand for IV tubing sets and accessories.
The global market is hindered with few side effects associated with the infusion devices and accessories. Site rupturing and product recalls are the common challenges of the product. Vascular procedures are often associated with stroke, heart attack, bleeding at the site due to device insertion, and damage to the nearby blood vessel.
The market is primarily segmented on the basis of Product Type, By Application, By End Use, By Age Group, and by geographic region.
By Product Type
By End Use
By Age Group
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Based upon product, global market is categorized into primary IV tubes, secondary IV, extension IV, IV infusion set with flow regulator, filtered IV, non-vented IV, vented IV tubing sets, and IV tubing accessories. The primary tubing is further segmented into macro-drip and micro-drip IV sets. In 2019, primary IV tubing sets accounted for the largest share and expected to its marginal share by 2027. This high share is attributed to its extensive use in general medical cases such as dehydration, electrolyte imbalances, and for parenteral nutrition. The extension tubing set segment is expected to register the fastest growth rate over the study period. Its application in a large number of cases where patient requires large volume of medication and to prevent frequent rupturing of tubing sets due to high pressure.
On the basis of application, the global IV tubing sets and accessories market is categorized into peripheral intravenous catheter insertion, PICC line insertion, and central venous catheter placement. In 2019, the peripheral segment accounted for the largest market share and will remain dominate till 2027. The rising cases life-style borne cardiac ailments and increasing preference of consumers towards minimally invasive procedures are the prominent factors favoring the segment growth. Moreover, rising cases of home-based infusion therapies among geriatrics also increasing the demand of the concerned product. The central venous catheter segment is projected to have the fastest growth rate over the study period. The usage of catheter in the administration of drugs in the veins is the major factor boosting its growth.
Geographically, the global IV tubing sets and accessories market is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America region is the largest revenue contributor followed by Europe and the Asia Pacific regions. In 2019, the North America region accounted for more than % of the global market. The US and Canada were the major revenue contributor. The major factors accounted for the growth of the market is the prevalence of CADs and peripheral artery disease (PAD), faulty lifestyles, increasing old age population, and the presence of well-developed healthcare infrastructure.
The growing awareness about cardiovascular diseases such as PAD and CHD has led many individuals to undergo regular medical visits. The US is the base for reputed companies in the market. Also, the incidence of hypertension in countries such as Canada and Brazil is gradually increasing which projected to boost the market during the forecast period. Further, most of the companies are focusing on expanding their market in Latin America, especially Brazil by making strategic alliances with local vendors for distribution of the products in the market.
The countries in the APAC region have large pool of population, in which old age population hold a significant share. The primary factors such as large pool of old age population, rise in healthcare infrastructure and increasing healthcare expenditure have contributed to the growth of the market. Moreover, the APAC also has a large pool of diabetic population, which increase the prevalence of cardiac diseases resulting in heart related ailments.
In addition, rising disposable income and growing awareness about healthy lifestyle among the Asian population in the developing countries such as China and India witness the growth in the future.
The global market is flooded with small and big players. Key players in the market are Baxter International Inc., Becton, Dickinson and Company (CareFusion), Perfect Medical Ind. Co., Ltd, Hospira Inc. (Pfizer Inc.), B. Braun Melsungen AG, Smiths Medical, Fresenius Kabi, C.R. Bard, Inc., Zyno Medical, ICU Medical Inc., Nipro Corporation, Vygon, Poly Medicure, Health Line International Corporation, and Dynarex Corporation.