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IV catheters market size was valued at $8.6 billion in 2022, and is estimated to reach $17.8 billion by 2032, growing at a CAGR of 7.5% from 2023 to 2032. An intravenous catheter is a catheter inserted into a vein to administer fluids or medications. IV catheters are essential tools for healthcare professionals, such as nurses and doctors, as they allow for the direct delivery of fluids, medications, blood products, and other treatments into the patient's circulatory system. These catheters come in various sizes and types, depending on the patient's age, medical condition, and the intended purpose of the IV therapy.
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Rise in prevalence of chronic diseases such as diabetes, cardiovascular conditions, cancer, and autoimmune disorders, has created a growing demand for long-term treatment and management. This involves the administration of medications, fluids, and nutrients directly into the bloodstream through intravenous (IV) therapy, which drives the demand for IV catheters.
In addition, technological advancements in IV catheter designs and materials, as well as improved insertion techniques, have made these devices more efficient, comfortable, and safe. These innovations encourage healthcare providers to use IV catheters for a broader range of treatments and is one of the major IV catheters market trends.
For instance, Becton, Dickson and Company's BD Insyte autoguard BC shield IV Catheter provides innovative intravenous catheter designs that ensure patient safety and convenience. In addition, this product has a push button needle shielding technology that instantly retracts the needle, completely encasing it in the safety barrel, and helping to reduce the risk of accidental needlestick injuries. Such advanced features provided by the IV catheters drive the market growth.
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