The size of the Asia Pacific IV Equipment Market is valued at USD 2.28 billion in 2022 and is estimated to grow at a CAGR of 6.9%, to reach USD 3.18 billion by 2027.
One of the primary factors driving the growth of APAC in the intravenous (IV) equipment market is the rising incidence of chronic illnesses such as cancer, kidney failure, and heart disease.
This market is also being driven by rising demand for advanced approaches such as drug administration without needles. However, ingestion, absorption, unintentional inhalation, or skin contact with a small amount of these medications can result in a range of health concerns.
They are overcoming these challenges to provide safe IV therapy, which fuels the growth of the intravenous equipment market. Fluid infusion, blood transfusion, medicine delivery, venous pressure monitoring, and blood collection are all done with IV therapy and vein access devices. Other indirect intravenous (IV) equipment market growth determinants include the emergence of ambulatory infusion pumps and the rise of numerous inventions and investigations in healthcare to integrate technology.
Growing government attempts to raise awareness, and rising cases of lifestyle diseases like hypertension, diabetes, obesity, and depression, among others, will fuel lucrative Asia Pacific intravenous (IV) equipment market expansion. In addition, in recent years, the field of medical sciences has seen significant developments, resulting in the introduction of novel healthcare technologies and systems into mainstream medicine.
The need for IV devices has been driven by the necessity to promptly provide medications to patients suffering from severe diseases. Furthermore, people with severe diseases and disorders frequently have difficulty swallowing food, medicine, or liquids. In such instances, IV equipment aids in administering the proper pharmaceutical doses to the patients. Together with the increased frequency of malignancies, cardiovascular ailments, and tumors, this factor has resulted in a surge in demand for IV equipment in the market in recent years.
The treatment's high costs will operate as a market growth stumbling block. The market growth rate will also be further slowed by medication errors caused by infusion pumps, which will result in product recalls. In addition, unfavorable reimbursement policies, particularly in developing economies, would increase the market's hurdles, as will strict regulatory requirements and compliances.
This research report on the Asia Pacific IV Equipment Market has been segmented and sub-segmented into the following categories.
By End User:
Geographically, Asia Pacific IV Equipment Market is expected to develop at the fastest rate due to the rising geriatric population, improving accessibility to advanced healthcare facilities over the forecast period.
The India IV Equipment Market is expected to maintain its dominance and have the largest market share due to the key players' growing investments in the emerging regions.
The China IV Equipment Market is predicted to grow at significant growth because the rising healthcare spending, increasing penetration of health insurance, and expansion of private hospitals are all driving demand for IV equipment in the region.
The Japan IV Equipment Market is predicted to rise rapidly due to an increasing senior population sensitive to chronic diseases. Furthermore, the expertise and skill of doctors and medical workers in these countries have facilitated the delivery of intravenous medicines. Furthermore, because of the rise in medical tourism to countries like China, Indonesia, and India, the market for IV equipment in the Asia Pacific is expected to grow.
KEY MARKET PLAYERS
Top Companies leading the Asia Pacific IV Equipment Market are ICU Medical, Inc. (U.S.), Smiths Medical (U.K.), Moog, Inc. (U.S.), Becton, Dickinson, and Company (U.S.), B. Braun Melsungen AG (Germany), Baxter International Inc. (U.S.), Fresenius SE & Co. KGaA (Germany), Terumo Corporation (Japan.), C. R. Bard, Inc. (U.S.).,
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