IV Tubing Sets & Accessories Market is Gaining Tremendous Demand Due To Growing Risk Of Malnutrition Worldwide | Grand View Research, Inc.

January 19 11:57 2021
IV Tubing Sets & Accessories Market is Gaining Tremendous Demand Due To Growing Risk Of Malnutrition Worldwide | Grand View Research, Inc.

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According to a report published by Grand View Research, the demand for IV tubing sets and accessories is on a rise owing to a wide range of applicability, increasing government initiatives, risk of malnutrition, and increasing incidence of cancer across the globe.

The global IV tubing sets and accessories market size is expected to reach USD 1.5 billion by 2027, registering a CAGR of 4.0% over the forecast period. Rising incidence of cancer, favorable government initiatives related to IV tubing sets and accessories, and increased risk of malnutrition across the globe are the key driving factors for the market.

The increasing prevalence of chronic conditions, such as cancer, is positively impacting the use of parenteral nutrition across the globe. Parenteral nutrition helps in the administration of vital nutrients, which help in maintaining strength, energy, and hydration level in patients suffering from a disease. According to statistics published by WHO, around 8.2 million deaths occur every year due to cancer, accounting for 13.0% of the deaths worldwide. Moreover, cancer cases are estimated to increase by 70.0% over the next couple of decades. The increasing prevalence of cancer is one of the major drivers of IV tubing sets and accessories.

Cancer generally leads to a rise in the incidence of stomach ulcers, disturbance in the normal functioning of the GI tract, and development of physical obstructions, thereby resulting in an increased requirement for parenteral nutrition. In addition, a common symptom associated with cancer is anorexia or unintentional weight loss, requiring replenishment through the parenteral route of administration. Since IV tubing sets and accessories is one of the essential requirements for parenteral nutrition, the demand is anticipated to surge in the coming years. These factors are anticipated to propel the IV tubing sets and accessories market growth over the forecast period.

U.S. IV tubing sets & accessories market size, by product, 2016 - 2027 (USD Billion)

IV Tubing Sets & Accessories Market Report Highlights

  1. In terms of product, the primary IV tubing segment led the industry in 2019. Primary IV tube sets are primarily used in patients for infusions of intermittent or persistent medications or fluids.

  2. The extension IV tubing sets segment is expected to witness the fastest growth in the forecast period. These tube sets are attached to IV catheters, which facilitate rapid fluid administration to patients at a greater distance.

  3. On the basis of application, the peripheral intravenous catheter insertion segment held the highest market share in 2019. It enables the delivery of drugs, fluids and blood supplies directly into the cardiovascular system and allows for efficient absorption of target organs.

  4. The central venous catheter placement segment is anticipated to witness the fastest growth over the forecast period.

  5. The hospital segment held the largest revenue share and dominated the IV tubing sets and accessories market in 2019 owing to the rising incidence of cardiovascular diseases across the globe.

  6. The North America region had the largest market share in 2019 and is predicted to remain dominant over the forecast period. Increasing adoption of emerging healthcare technologies, high prevalence of diseases, improved reimbursement strategies, and increased investment in developing healthcare facilities are key factors driving the market growth.

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Grand View Research has segmented the IV tubing sets and accessories market report on the basis of product, application, end use and region:

IV Tubing Sets & Accessories Product Outlook (Revenue, USD Million, 2016 – 2027)

  • Primary IV Tubing Sets

  • Secondary IV Tubing Sets

  • Extension IV Tubing Sets

  • IV Tubing Accessories

  • Others

IV Tubing Sets & Accessories Application Outlook (Revenue, USD Million, 2016 – 2027)

  • Peripheral Intravenous Catheter Insertion

  • Central Venous Catheter Placement

  • PICC Line Insertion

IV Tubing Sets & Accessories End-use Outlook (Revenue, USD Million, 2016 – 2027)

  • Hospitals

  • Clinics

  • Ambulatory Surgery Centers

  • Others

IV Tubing Sets & Accessories Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa

    • Saudi Arabia

List of Key Players of IV Tubing Sets & Accessories Market
• B. Braun Medical, Inc.
• Fresenius Kabi AG
• Baxter
• ICU Medical, Inc.

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About Grand View Research

Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.
Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.

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