Technavio's latest market research report on the global peripheral intravenous (IV) catheter marketprovides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technaviodefines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new market research report on the global peripheral intravenous (IV) catheter market 2017-2021 under their healthcare and life sciences library. (Graphic: Business Wire)
One of the key factors resulting in the growth of the global peripheral intravenous catheter market is the increase in the number of hospitalizations. The number of hospitalizations is increasing worldwide because of the growth of the world population and the rising prevalence of various acute and chronic diseases.
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The three emerging market trends driving the global peripheral intravenous catheter market according to Technavio research analysts are:
- Increasing popularity of integrated/ closed peripheral intravenous catheters
- Increased adoption of safety ported short peripheral intravenous catheters
- Increased implementation of product bundling strategy
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Increasing popularity of integrated/ closed peripheral intravenous catheters
The traditional PIVCs consist of a small catheter tubing on an open adapter to which an IV-administration set is connected manually. Therefore, the insertion of this catheter predisposes the patient to risks of infection. Healthcare workers also face the risk of exposure to these types of catheters. The use of traditional PIVCs significantly increases the risk of cross-contamination. Unlike traditional PIVCs, closed PIVC systems integrate the individual components such as the IV catheter, stabilization platform or feature, extension set, and the needle-less access site that is generally assembled by the clinicians during the insertion of a peripheral IV cannula.
According to Ramakrishna Edupulapati, a lead analyst at Technavio for orthopedics and medical devices, "Closed PIVC systems provide better access to the peripheral veins and reduce the pain to the patients during insertion. Therefore, because of their increased safety features, patient comfort, and ease of use, integrated/closed PIVCs are gaining popularity among the healthcare professionals and patients. Moreover, due to the increasing awareness about the complications associated with PIVCs, the demand for safer products is increasing."
Increased adoption of safety ported short peripheral intravenous catheters
The global PIVC market is witnessing an increase in the adoption of short PIVCs. Safety ported short PIVCs are integrated with a passive-safety system to decrease accidental needlestick injuries and mucocutaneous blood exposure. The smooth, tapered hub of these catheters increases the ease of insertion and patient comfort. The protection caps of the catheters cover the needles to minimize contamination. The presence of a septum inside the catheter hub prevents blood from leaking out during insertion.
The cytostatics used in chemotherapy for the treatment of cancers are extremely aggressive. Therefore, precautions should be taken during the use of these cytotoxic drugs. The safety ported short PIVCs can ensure controlled and comfortable delivery of medications while avoiding contact with the healthcare workers. The demand for safety ported short PIVCs has increased due to their safety and efficiency. This is expected to drive the growth of the global PIVC market.
Increased implementation of product bundling strategy
Product bundling strategies are increasingly gaining popularity as companies try to overcome expenses such as acquisition-related costs. In product bundling, multiple products are packaged together and sold as a single solution system. Needles, surgical sets, trays, and PIVCs are some of the products that are sold by utilizing product bundling strategies. Vendors also use these strategies to market and sell medical kits including catheters, needles, and other related accessories.
"Product bundling strategies provide benefits to both manufacturers and customers. They can increase profits for manufacturers on individual sales. They increase customer convenience by providing multiple products that address their need. These strategies are gaining popularity in the healthcare sector as they allow vendors to sell multiple products together," says Ramakrishna
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