SEATTLE, Oct. 18, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the U.S. IV infusion products market is estimated to be valued at US$ 7,885.4 million in 2021 and is expected to exhibit a CAGR of 3.8% during the forecast period (2021-2028).
Key Trends and Analysis of the U.S. IV Infusion Products Market:
Key trends in the market include increasing number of blood transfusions and increasing number of product launches and approvals.
The increasing number of blood transfusion is expected to drive growth of U.S. IV infusion products market. IV infusion products are used for various purposes such as blood transfusions, chemotherapy, and for administration of intravenous fluids and antibiotics. For instance, according to the American Cancer Society, in 2017, an estimated 252,710 new cases of invasive breast cancer were diagnosed among women and 2,470 cases were diagnosed in men. Moreover according to the same source, 63,410 cases of in situ breast carcinoma were estimated to be diagnosed among women, in the U.S. in 2017.
The increasing number of product approvals is expected to fuel growth of the U.S. IV infusion products market. For instance, on 28 August 2020, B. Braun Medical Inc., a manufacturer of infusion therapy and pain management products, announced that it received 510(k) clearance from the U.S. Food and Drug Administration (U.S. FDA) for the SpaceStation MRI to allow space infusion pumps to continuously deliver medications to patients within the MRI (Magnetic Resonance Imaging) suite.
Furthermore, increasing number of product launches and approvals by market players is expected to drive growth of the U.S. IV infusion products market. For instance, on September 16, 2020, Supernus Pharmaceuticals, a specialty pharmaceutical company, filed a new drug application with the U.S. Food and Drug Administration (FDA) for approval of SPN-830, its apomorphine infusion pump, used to treat on-off episodes of motor symptoms in adults with Parkinson's disease.
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Key Market Takeaways:
The increasing research and development activities, rising product launches and approvals, inorganic activities such as collaborations, agreements, partnerships, acquisitions, and others are expected to drive growth of the U.S. IV infusion products market over the forecast period. For instance, on May 4, 2021, Smiths Medical, a global leader in the production of specialty medical devices entered into partnership with Ivenix Inc., a medical technology company, in order to offer a comprehensive suite of infusion management solutions to improve patient safety and meet the needs of healthcare providers.
Key players operating in the U.S. IV infusion products market include AngioDynamics Inc., Kimal, Terumo Corporation, Teleflex Inc., Becton Dickinson and Company, Cook Group, Nipro Corporation, ZOLL Medical Corporation, B. Braun Medical Inc., AdvaCare Pharma, PL Medical Co., LLC, Greiner Bio-One International GmbH, EMED Technologies Corporation, CODAN Companies, and Smiths Group plc.
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U.S. IV Infusion Products Market, By Product Type:
IV Infusion Pump
Gravity Infusion Devices
Infusion Lines (Set)
Gravity IV Set
Gravity IV Set W/Needle Free Connector
Pump IV Set
U.S. IV Infusion Products Market, By Stop Cock Type:
3 Way Stopcock
U.S. IV Infusion Products Market, By Needle Free Connector:
Needle-free Extension Sets
U.S. IV Infusion Products Market, By Infusion Site:
U.S. IV Infusion Products Market, By Application:
U.S. IV Infusion Products Market, By End User:
Ambulatory Surgical Centers
Home Care Settings
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