Peripheral IV Catheters Being Used for Injecting Contrast Media during CT

The rising incidence of lifestyle-related diseases and chronic diseases, surging elderly population, increasing technological advancements, and augmenting healthcare spending will drive the peripheral intravenous (I.V.) catheter market at a CAGR of 6.0% during the forecast period (2016–2022).

The usage of peripheral IV catheters has increased on account of the burgeoning cases of chronic disorders and mounting healthcare expenditure in developing and developed countries. An escalation in the healthcare spending has facilitated the accessibility to affordable treatments for different medical conditions. The World Health Organization (WHO) states that chronic diseases, namely cancer and cardiovascular diseases (CVDs), account for nearly 9.6 million and 17.9 million deaths, respectively, annually. Additionally, the Global Cancer Observatory (GLOBOCAN) estimates that around 783,000 deaths were caused due to gastric cancer in 2018.

Moreover, the booming geriatric population will act as a catalyst for the peripheral I.V. catheter market growth, as old people have a weak regenerative ability and are susceptible to chronic diseases such as cancer, CVDs, and diabetes. According to the National Institutes of Health (NIH), nearly 75%–85% of the individuals in the U.S. elderly care facilities suffer from chronic pain. According to the United Nations Department of Economic and Social Affairs (UNDSEA), by 2050, the U.S., India, Brazil, and China will host 84.8 million, 225.4 million, 52.0 million, and 356.6 million people aged 65 years and above, respectively.

In recent years, the usage of closed peripheral I.V. catheters has significantly increased in computed tomography (CT) processes, as they help in injecting contrast agents that enhance the quality of the images. Such catheters are made from polyurethane material and can resist pressures of over 300 pounds per square inch (psi). Owing to their high-pressure resistance with minimal reduction in flexibility, they are suitable for CT imaging applications. Moreover, these catheters provide higher safety as compared to traditional catheters.

Geographically, the North American peripheral I.V. catheter market generated the highest revenue in the past, and it is expected to maintain its dominance throughout the forecast period. This can be attributed to the growing geriatric population, soaring demand for injectable drugs, and rising healthcare spending. Additionally, the escalating awareness regarding innovative treatments, augmenting healthcare expenditure, and surging focus on curtailing needlestick injuries will encourage the usage of these catheters in developing countries like China, Brazil, and India. Thus, these nations are expected to generate huge opportunities for market players in the future.