HOME Top Market Reports IV Equipment Market by Product (Infusion Pump, Catheter, Solution and Blood Administration Set, Securement Device, Cannula, Stopcock, Needleless Connector), End User (Hospitals & Clinics, Homecare, Ambulatory Care Center) - Global Forecast to 2022

IV Equipment Market by Product (Infusion Pump, Catheter, Solution and Blood Administration Set, Securement Device, Cannula, Stopcock, Needleless Connector), End User (Hospitals & Clinics, Homecare, Ambulatory Care Center) - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: May 2017
Report Code: MD 5311

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[166 Pages Report] The overall IV equipment market is expected to grow from USD 10.07 billion in 2017 to USD 13.64 billion by 2022, at a CAGR of 6.2% from 2017 to 2022. Intravenous (IV) therapy devices are used to administer liquid substances directly into a vein. They can deliver nutrients or medications such as insulin or other hormones, antibiotics, chemotherapy drugs, and pain relievers. Presently, many companies are developing various infusion devices capable of being integrated with alarm devices, monitoring devices, and data exchange systems. This integration helps prevent an overdose or reduced dose of infusion solutions to patients and minimizes dosing errors. Major players in the market are focusing on achieving system interoperability of the IV equipment such as infusion pump with EHR technology. The base year considered for the study is 2016, and the forecast has been provided for the period between 2017 and 2022.

Market Dynamics

IV Equipment Market

Increasing incidence of chronic diseases drives the global IV equipment market

The global burden of chronic diseases such as heart disease, stroke, cancer, chronic respiratory diseases, and diabetes is increasing rapidly. According to the World Health Organization (WHO) 2015, chronic diseases accounted for approximately 60% of the total reported deaths in the world. The proportion of the burden of chronic diseases (chronic non-communicable diseases) is expected to increase to 57% by 2020 from 46% in 2001.

The risk of chronic diseases increases with age. Among the geriatric population, the prevalence rate of chronic diseases is 64 per 1,000 persons. According to WHO, the global share of the geriatric population (aged 65 years or above) increased from 7.3% in 2005 to 8.7% in 2017 and is expected to continue to grow as a proportion of the world population, reaching 9.3% by 2020. This unprecedented growth in the aging population across the globe has also resulted in an increased burden on the healthcare industry. The rising incidence of chronic diseases, mainly due to the increasing aging population, and the growing use of IV therapy in their treatment are expected to drive the growth of this market in the coming years.

IV Equipment Market

The following are the major objectives of the study.

  • To define, describe, and forecast the global IV equipment market on the basis of product, end user, and region
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, challenges, and trends)
  • To strategically analyze micromarkets1 and subsegments with respect to individual growth trends, future prospects, and contributions to the overall market
  • To analyze the opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders
  • To forecast the size of the IV equipment market, with respect to four main regions—North America, Europe, Asia-Pacific, and the Rest of the World
  • To profile the key players and comprehensively analyze their core competencies2 in terms of key market developments, product portfolios, market share analysis, and financials
  • To track and analyze competitive developments such as agreements, collaboration, acquisitions, product launches, and R&D activities of leading players in the global IV equipment market

During this research study, major players operating in the IV equipment market in various regions have been identified, and their offerings, regional presence, and distribution channels have been analyzed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva, along with primary respondents. The entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) pertaining to the market. The figure below shows the breakdown of the primaries on the basis of the company type, designation, and region considered during the research study.

IV Equipment Market

To know about the assumptions considered for the study, download the pdf brochure

Major Market Developments

  • In 2015, Becton, Dickinson and Company acquired CareFusion Corporation (US). The combination of these two companies’ complementary product portfolios offered integrated medication management solutions and smart devices, including infusion pumps.
  • In 2017, BD launched a new IV medication safety solution at the European Association of Hospital Pharmacists (EAHP, Cannes) congress to improve patient safety. This product is designed to prevent medication administration errors.
  • In October 2017, ICU Medical, Inc. acquired Pfizer's Hospira infusion systems (HIS, U.S.) business segment with a comprehensive portfolio of complete IV therapy from pumps to solutions.

Target Audience

  • Medical device manufacturers and distributors
  • Research and development institutions
  • Hospitals and ambulatory surgery centers
  • Market research and consulting firms
  • Venture capitalists and investors
  • Government organizations

Report Scope

By Contact Position:

  • IV Catheters
  • Administration Sets
    • Solution Administration Sets
    • Blood Administration Sets
  • Infusion Pumps
  • Securement Devices
  • Stopcocks & Check Valves
  • Drip Chambers
  • Needleless Connectors
  • Other IV Equipment

By End User:

  • Hospitals & Clinics
  • Home Care 
  • Ambulatory Care Centers

By Geography:

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Latin America
  • Middle East and Africa

Critical questions which the report answers

  • What are new application and technology areas which the IV equipment companies are exploring?
  • Which are the key players in the market and how intense is the competition?

Available Customizations

Based on the given market data, MarketsandMarkets offers customizations in the reports as per the client’s specific requirements. The available customization options are as follows:

Geographic Analysis

  • Further country-wise breakdown of the market in APAC based on application

Company Information

  • Detailed analysis and profiling of additional market players (Up to 5)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Approach
           2.1.1 Key Data From Secondary Sources
           2.1.2 Key Data From Primary Sources
           2.1.3 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Market Breakdown and Data Triangulation
    2.4 Market Share Estimation
    2.5 Assumptions for the Study

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 29)
    4.1 IV Equipment: Market Overview
    4.2 IV Equipment Market: Developed vs Developing Markets
    4.3 IV Equipment Market: Geographic Growth Opportunities
    4.4 Geographic Mix: IV Equipment Market (2017–2022)
    4.5 IV Equipment Market Size, By Product, 2017 vs 2022 (USD Million)

5 Market Overview (Page No. - 33)
    5.1 Key Market Dynamics
           5.1.1 Market Drivers
                    5.1.1.1 Increasing Incidence of Chronic Diseases and Rising Geriatric Population
                    5.1.1.2 Growing Number of Surgical Procedures Performed
                    5.1.1.3 Rising Demand for Ambulatory Infusion Pumps Due to the Growing Home Care Market
                    5.1.1.4 Rising Number of Needlestick Injuries and Infections
           5.1.2 Market Restraints
                    5.1.2.1 Patient Safety Risks and Medication Errors Associated With Infusion Pumps Leading to Product Recalls
           5.1.3 Market Opportunities
                    5.1.3.1 High Growth in Developing Countries Across APAC and Latin America
           5.1.4 Market Challenges
                    5.1.4.1 Increasing Incidence of Medication Errors and Lack of Wireless Connectivity in Most Hospitals
                    5.1.4.2 Stringent Regulatory Requirements
    5.2 Industry Trends
           5.2.1 Increasing Focus on Smart Pumps
           5.2.2 Increasing Focus on Achieving System Interoperability With EHR Technology
    5.3 Regulatory Analysis
           5.3.1 North America
                    5.3.1.1 U.S.
                    5.3.1.2 Canada
           5.3.2 Europe
           5.3.3 APAC
                    5.3.3.1 Japan
                    5.3.3.2 China
                    5.3.3.3 India
           5.3.4 Latin America
                    5.3.4.1 Brazil
                    5.3.4.2 Mexico
                    5.3.4.3 Columbia

6 Global IV Equipment Market, By Product (Page No. - 53)
    6.1 Introduction
    6.2 IV Catheters
    6.3 Administration Sets
           6.3.1 Solution Administration Sets
           6.3.2 Blood Administration Sets
    6.4 Infusion Pumps
    6.5 Securement Devices
    6.6 Stopcocks & Check Valves
    6.7 Drip Chambers
    6.8 Needleless Connectors
    6.9 Other IV Equipment

7 Global IV Equipment Market, By End User (Page No. - 69)
    7.1 Introduction
    7.2 Hospitals & Clinics
    7.3 Home Care
    7.4 Ambulatory Care Centers

8 IV Equipment Market, By Region (Page No. - 74)
    8.1 Introduction
    8.2 North America
           8.2.1 U.S.
           8.2.2 Canada
    8.3 Europe
           8.3.1 Germany
           8.3.2 France
           8.3.3 U.K.
           8.3.4 Italy
           8.3.5 Spain
           8.3.6 Rest of Europe
    8.4 Asia-Pacific
           8.4.1 Japan
           8.4.2 China
           8.4.3 India
           8.4.4 Rest of Asia-Pacific
    8.5 Latin America
    8.6 Middle East and Africa

9 Competitive Landscape (Page No. - 111)
    9.1 Introduction
    9.2 Market Share Analysis
    9.3 Vendor Dive Overview
           9.3.1 Vanguards
           9.3.2 Innovators
           9.3.3 Dynamic
           9.3.4 Emerging
    9.4 Competitve Benchmarking
           9.4.1 Analysis of Product Portfolio of Major Players in the Global IV Equipment Market (25 Players)
           9.4.2 Business Strategies Adopted By Major Players in the Global Market (25 Players)

*Top 25 Companies Analyzed for This Study are - Becton, Dickinson and Company, B. Braun Melsungen AG, Baxter International Inc., Fresenius Se & Co. KGaA, ICU Medical, Inc., Smiths Medical, C. R. Bard, Inc., Medtronic PLC, Angiodynamics, Inc., Moog, Inc.,Terumo Corporation, Zyno Medical, LLC, Teleflex Medicals, Halyard Health, Inc., Iradimed Corporation, Amsino International, Inc., Codan Us Corporation, Cardinal Health, Vygon, Elcam Medical Inc., Poly Medicure Limited, Medline Industries, Arcomed AG, Ascor S.A., Argon Medical Devices,

10 Company Profiles (Page No. - 116)
(Overview, Products and Services, Financials, Strategy & Development)*
     10.1 Becton, Dickinson and Company (BD)
     10.2 B. Braun Melsungen AG
     10.3 Baxter International Inc.
     10.4 Fresenius Se & Co. KGaA
     10.5 ICU Medical, Inc.
     10.6 Smiths Medical (A Division of Smiths Group PLC)
     10.7 C.R. Bard, Inc.
     10.8 Terumo Corporation
     10.9 Moog Inc.
     10.10 Angiodynamics, Inc.

*Details on Overview, Products and Services, Financials, Strategy & Development Might Not Be Captured in Case of Unlisted Companies.

11 Appendix (Page No. - 159)
     11.1 Discussion Guide
     11.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     11.3 Introducing RT: Real-Time Market Intelligence
     11.4 Available Customizations
     11.5 Related Reports


List of Tables (102 Tables)

Table 1 Indicative List of Product Recalls for Infusion Pumps (2014–2017)
Table 2 IV Equipment Under 21 Cfr 880.5440 With Product Codes
Table 3 Infusion Pumps Under 21 Cfr 880.5725 With Product Codes
Table 4 Health Canada: Medical Devices Classification
Table 5 Classification of Medical Devices and the Reviewing Body in Japan
Table 6 Brazil: Time, Cost, and Complexity of Registration Process
Table 7 Mexico: Time, Cost, and Complexity of Registration Process
Table 8 Colombia: Time, Cost, and Complexity of Registration Process
Table 9 Global IV Equipment Market Size, By Product, 2015–2022 (USD Million)
Table 10 Global IV Equipment Market Size, By Product, 2015–2022 (Thousand Units)
Table 11 Global IV Catheters Market Size, By Country, 2015–2022 (USD Million)
Table 12 Global IV Catheters Market Size, By Country, 2015–2022 (Thousand Units)
Table 13 Global IV Administration Sets Market Size, By Type, 2015–2022 (USD Million)
Table 14 Global IV Administration Sets Market Size, By Country, 2015–2022 (USD Million)
Table 15 Global IV Administration Sets Market Size, By Country, 2015–2022 (Thousand Units)
Table 16 Global Solution Administration Sets Market Size, By Country, 2015–2022 (USD Million)
Table 17 Global Blood Administration Sets Market Size, By Country, 2015–2022 (USD Million)
Table 18 Global Infusion Pumps Market Size, By Country, 2015–2022 (USD Million)
Table 19 Global Infusion Pumps Market Size, By Country, 2015–2022 (Thousand Units)
Table 20 Global Securement Devices Market Size, By Country, 2015–2022 (USD Million)
Table 21 Global Securement Devices Market Size, By Country, 2015–2022 (Thousand Units)
Table 22 Global Stopcocks & Check Valves Market Size, By Country, 2015–2022 (USD Million)
Table 23 Global Stopcocks & Check Valves Market Size, By Country, 2015–2022 (Thousand Units)
Table 24 Global Drip Chambers Market Size, By Country, 2015–2022 (USD Million)
Table 25 Global Drip Chambers Market Size, By Country, 2015–2022 (Thousand Units)
Table 26 Global Needleless Connectors Market Size, By Country, 2015–2022 (USD Million)
Table 27 Global Needleless Connectors Market Size, By Country, 2015–2022 (Thousand Units)
Table 28 Global Other IV Equipment Market Size, By Country, 2015–2022 (USD Million)
Table 29 Global IV Equipment Market Size, By End User, 2015–2022 (USD Million)
Table 30 Global Market Size for Hospitals & Clinics, By Country/Region, 2015–2022 (USD Million)
Table 31 Global Market Size for Home Care, By Country/Region, 2015–2022 (USD Million)
Table 32 Global IV Equipment Market Size for Ambulatory Care Centers, By Country/Region, 2015–2022 (USD Million)
Table 33 IV Equipment Market Size, By Region, 2015–2022 (USD Million)
Table 34 North America: IV Equipment Market Size, By Country, 2015–2022 (USD Million)
Table 35 North America: Market Size By Product, 2015–2022 (USD Million)
Table 36 North America: IV Administration Sets Market Size, By Type, 2015–2022 (USD Million)
Table 37 North America: IV Equipment Market Size, By End User, 2015–2022 (USD Million)
Table 38 North America: Market Size By Product, 2015–2022 (Thousand Units)
Table 39 Key Market Indicators: U.S.
Table 40 U.S.: IV Equipment Market Size, By Product, 2015–2022 (USD Million)
Table 41 U.S.: IV Administration Sets Market Size, By Type, 2015–2022 (USD Million)
Table 42 U.S.: Market Size By End User, 2015–2022 (USD Million)
Table 43 Key Market Indicators: Canada
Table 44 Canada: Market Size By Product, 2015–2022 (USD Million)
Table 45 Canada: IV Administration Sets Market Size, By Type, 2015–2022 (USD Million)
Table 46 Canada: IV Equipment Market Size, By End User, 2015–2022 (USD Million)
Table 47 Europe: Market Size By Country, 2015–2022 (USD Million)
Table 48 Europe: IV Equipment Market Size, By Product, 2015–2022 (USD Million)
Table 49 Europe: IV Administration Sets Market Size, By Type, 2015–2022 (USD Million)
Table 50 Europe: IV Equipment Market Size, By End User, 2015–2022 (USD Million)
Table 51 Europe: Market Size By Product, 2015–2022 (Thousand Units)
Table 52 Key Market Indicators: Germany
Table 53 Germany: IV Equipment Market Size, By Product, 2015–2022 (USD Million)
Table 54 Germany: IV Administration Sets Market Size, By Type, 2015–2022 (USD Million)
Table 55 Germany: Market Size By End User, 2015–2022 (USD Million)
Table 56 Key Market Indicators: France
Table 57 France: IV Equipment Market Size, By Product, 2015–2022 (USD Million)
Table 58 France: IV Administration Sets Market Size, By Type, 2015–2022 (USD Million)
Table 59 France: Market Size By End User, 2015–2022 (USD Million)
Table 60 Key Market Indicators: U.K.
Table 61 U.K.: IV Equipment Market Size, By Product, 2015–2022 (USD Million)
Table 62 U.K.: IV Administration Sets Market Size, By Type, 2015–2022 (USD Million)
Table 63 U.K.: Market Size By End User, 2015–2022 (USD Million)
Table 64 Key Market Indicators: Italy
Table 65 Italy: IV Equipment Market Size, By Product, 2015–2022 (USD Million)
Table 66 Italy: IV Administration Sets Market Size, By Type, 2015–2022 (USD Million)
Table 67 Italy: Market Size By End User, 2015–2022 (USD Million)
Table 68 Key Market Indicators: Spain
Table 69 Spain: IV Equipment Market Size, By Product, 2015–2022 (USD Million)
Table 70 Spain: IV Administration Sets Market Size, By Type, 2015–2022 (USD Million)
Table 71 Spain: Market Size By End User, 2015–2022 (USD Million)
Table 72 RoE: IV Equipment Market Size, By Product, 2015–2022 (USD Million)
Table 73 RoE: IV Administration Sets Market Size, By Type, 2015–2022 (USD Million)
Table 74 RoE: Market Size By End User, 2015–2022 (USD Million)
Table 75 Asia-Pacific: IV Equipment Market Size, By Country, 2015-2022 (USD Million)
Table 76 Asia-Pacific: Market Size By Product, 2015-2022 (USD Million)
Table 77 Asia-Pacific: IV Administration Sets Market Size, By Type, 2015-2022 (USD Million)
Table 78 Asia-Pacific: Market Size By End User, 2015-2022 (USD Million)
Table 79 Asia-Pacific: IV Equipment Market Size, By Product, 2015-2022 (Thousand Units)
Table 80 Key Market Indicators: Japan
Table 81 Japan: IV Equipment Market Size, By Product, 2015-2022 (USD Million)
Table 82 Japan: IV Administration Sets Market Size, By Type, 2015-2022 (USD Million)
Table 83 Japan: Market Size By End User, 2015-2022 (USD Million)
Table 84 Key Market Indicators: China
Table 85 China: IV Equipment Market Size, By Product, 2015-2022 (USD Million)
Table 86 China: IV Administration Sets Market Size, By Type, 2015-2022 (USD Million)
Table 87 China: IV Equipment Market Size, By End User, 2015-2022 (USD Million)
Table 88 Key Market Indicators: India
Table 89 India: Market Size By Product, 2015-2022 (USD Million)
Table 90 India: IV Administration Sets Market Size, By Type, 2015-2022 (USD Million)
Table 91 India: IV Equipment Market Size, By End User, 2015-2022 (USD Million)
Table 92 RoAPAC: Market Size By Product, 2015-2022 (USD Million)
Table 93 RoAPAC: IV Administration Sets Market Size, By Type, 2015-2022 (USD Million)
Table 94 RoAPAC: Market Size By End User, 2015-2022 (USD Million)
Table 95 Latin America: IV Equipment Market Size, By Product, 2015-2022 (USD Million)
Table 96 Latin America: IV Administration Sets Market Size, By Type, 2015-2022 (USD Million)
Table 97 Latin America: Market Size By End User, 2015-2022 (USD Million)
Table 98 Latin America: IV Equipment Market Size, By Product, 2015-2022 (Thousand Units)
Table 99 Middle East and Africa: IV Equipment Market Size, By Product, 2015-2022 (USD Million)
Table 100 Middle East and Africa: IV Administration Sets Market Size, By Type, 2015-2022 (USD Million)
Table 101 Middle East and Africa: Market Size By End User, 2015-2022 (USD Million)
Table 102 Middle East and Africa: IV Equipment Market Size, By Product, 2015-2022 (Thousand Units)


List of Figures (38 Figures)

Figure 1 Research Design
Figure 2 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 3 Bottom-Up Approach
Figure 4 Top-Down Approach
Figure 5 Data Triangulation Methodology
Figure 6 Global Market Size By Product, 2017 vs 2022 (USD Million)
Figure 7 Global Market Size By End User, 2017 vs 2022 (USD Million)
Figure 8 Geographic Snapshot of the IV Equipment Market
Figure 9 Increasing Incidence of Chronic Diseases and Growth in the Geriatric Population—Key Market Drivers for the IV Equipment Market
Figure 10 Developing Markets to Register Higher Growth in the Forecast Period
Figure 11 U.S. Accounted for the Largest Share of the IV Equipment Market in 2016
Figure 12 North America to Dominate the Market in the Forecast Period
Figure 13 IV Catheters Will Continue to Dominate the IV Equipment Market in 2022
Figure 14 IV Equipment Market: Drivers, Restraints, Opportunities, and Challenges
Figure 15 Global Geriatric Population (65 Years & Above), By Region
Figure 16 Cancer to Be Most Prominent Among the Geriatric Population By 2030
Figure 17 Estimated Diabetic Population, By Region, 2015 vs 2040
Figure 18 CE Mark Approval Process in Europe for IV Equipment
Figure 19 Regulatory Process for Medical Devices in Brazil
Figure 20 Regulatory Process for Medical Devices in Mexico
Figure 21 Regulatory Process for Medical Devices in Colombia
Figure 22 Global IV Equipment Market Size, By Product, 2017 vs 2022 (USD Million)
Figure 23 Hospitals & Clinics to Dominate the IV Equipment Market During the Forecast Period
Figure 24 IV Equipment Market: Geographic Growth Opportunities
Figure 25 North America: IV Equipment Market Snapshot
Figure 26 Europe: IV Equipment Market Snapshot
Figure 27 Global IV Equipment Market Share Analysis, By Key Player, 2016.
Figure 28 Dive Chart
Figure 29 Becton, Dickinson and Company: Company Snapshot
Figure 30 B. Braun Melsungen AG: Company Snapshot
Figure 31 Baxter International, Inc.: Company Snapshot
Figure 32 Fresenius Se & Co. KGaA: Company Snapshot
Figure 33 ICU Medical, Inc.: Company Snapshot
Figure 34 Smiths Group PLC: Company Snapshot
Figure 35 C.R. Bard: Company Snapshot
Figure 36 Terumo Corporation: Company Snapshot
Figure 37 Moog, Inc.: Company Snapshot
Figure 38 Angiodynamics, Inc.: Company Snapshot

The overall IV equipment market is expected to grow from USD 10.07 billion in 2017 to USD 13.63 billion by 2022 at a CAGR of 6.2%. Increasing incidence of chronic diseases and rising geriatric population, growing number of surgical procedures performed, rising demand for ambulatory infusion pumps due to the growing home care market, rising number of needlestick injuries and infections are the key factors driving the growth of this market.

Intravenous (IV) therapy devices are used to administer liquid substances directly into a vein. They can deliver nutrients or medications such as insulin or other hormones, antibiotics, chemotherapy drugs, and pain relievers. These devices offer significant advantages over manual fluid administration, including the ability to deliver fluids in very small volumes and at precisely programmed rates or automated intervals. These devices are also used for blood transfusion.

The IV equipment market has been segmented, on the basis of product into IV catheters, administration sets, infusion pumps, securement devices, stopcocks & check valves, drip chambers, needleless connectors, and other IV equipment. The market for securement devices is expected to grow at the highest CAGR between 2017 and 2022. Increasing adoption of central venous catheter securement devices and peripheral IV catheter securement devices during IV therapy owing to the advantages such as water resistant and can be repositioned upon initial application.

IV Equipment Market

The IV equipment market in APAC is expected to grow at the highest CAGR during the forecast period. The demand for IV equipment and accessories in the APAC region is majorly driven by factors such as the large population base in the region, rising geriatric population, rising incidence of chronic diseases, improving accessibility to advanced healthcare facilities, rising healthcare spending, growing penetration of health insurance, increasing demand for advanced technologies, growing investments in emerging APAC countries by key market players, and expansion of private-sector hospitals to rural areas.

IV Equipment Market

Critical questions the report answers:

  • What impact will the market dynamics have on the IV equipment market in short term and long term?
  • What are the industry trends in IV equipment market?

Product recalls is a major factor restraining the growth of the market. Many infusion pumps are used to administer critical fluids, including high-risk medications. Errors with the use of these systems can cause serious harm to patients and may even lead to death. According to the Institute of Medicine (U.S.), approximately 1.5 million patients annually experience medication errors costing USD 8,750 per PADE (Potential Adverse Drug Event). Among medical devices, infusion pumps have one of the highest recall rates. From 2005 through 2009, the FDA received approximately 56,000 reports of adverse events associated with the use of infusion pumps, which resulted in numerous injuries and deaths. During this period, manufacturers recalled 87 infusion pumps to address the identified safety concerns; 21 companies were affected by recalls for infusion pumps and related equipment between 2003 and 2013. A significant portion of the recalls was attributed to faulty device design. The recall of products due to safety and efficacy failures is a key concern for device manufacturers and significantly affects the growth of this market.

Some of the prominent players in the global IV equipment market are Becton, Dickinson and Company (U.S.), B. Braun Melsungen AG (Germany), Baxter Interanl Inc. (U.S.), Fresenius SE & Co. KGaA (Germany), ICU Medical, Inc. (U.S.), Smiths Medical (U.K.), C. R. Bard, Inc. (U.S.), Terumo Corporation (Japan), Moog, Inc. (U.S.), and AngioDynamics, Inc. (U.S.). These players adopted both organic as well as inorganic strategies such as product launches and enhancements, collaborations and agreements, acquisitions and grant to sustain in this market.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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