Peripheral Intravenous Catheters (PIVC) Market Size, Share & Trends Analysis Report By Product (Short Peripheral IV Catheters, Peripheral Midline IV Catheters), By Technology (Conventional Peripheral IV Catheters, Safety Peripheral IV Catheters), By End-User (Hospitals, Ambulatory Surgical Centers, Homecare, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global peripheral intravenous catheters (PIVC) market size was valued at USD 3.06 billion in 2022. It is estimated to reach USD 3.38 billion by 2031, growing at a CAGR of 1.12% during the forecast period (2023–2031).

Intravenous (IV) therapy helps to deliver medications, fluids, and other nutrients directly into the body through veins. IV therapy is used during lifesaving treatment and in wellness treatment. IV therapy involves vascular access devices inserted into veins through peripheral or central vessels for diagnostic or therapeutic purposes, including medication administration, blood sampling, central venous pressure readings, fluids, total parenteral nutrition, and blood transfusions. Different vascular access devices include peripheral venous catheters, central venous catheters, peripherally inserted central catheters, and implanted ports.

Peripheral intravenous catheters (PIVCs) are small tubes placed in the peripheral veins of patients to administer medication and fluids directly into the bloodstream. They are also used to withdraw blood from veins for diagnostic testing. PIVCs are classified into short PIVCs and midline PIVCs. Short PIVCs are the most commonly used peripheral access devices in healthcare centers. Midline catheters are appropriate for patients requiring intravenous therapy for 4−6 weeks. A peripherally inserted central catheter is a stable, safe, and effective way to deliver IV medications. Implanted venous access ports are placed under the skin for medications and treatment.

Market Dynamics

Global PIVC Market Drivers

Increased Need to Reduce Needlestick Injuries

According to World Health Organization (WHO), more than two million occupational exposure to sharp injuries occurs among 35 million HCWs annually. WHO statistics also show that exposure to cytotoxic drugs due to NSI causes 16,000, 66,000, and 1,000 cases of hepatitis B virus, hepatitis C virus, and HIV per year among HCWs, respectively. In addition, previous studies have reported numerous factors contributing to the increased risk of NSIs among HCWs. In several developing countries, the lack of various factors, such as vaccination rates among HCWs, access to appropriate worker protection equipment and post-exposure prophylaxis, and compliance with preventive infection control standards, contribute to NSIs.

Recently, safety features have been incorporated into IV catheter devices to shield patients and healthcare workers from unintentional NSIs. The risk of NSIs due to conventional catheters was 25-fold higher than that observed for safety IV catheters. Therefore, conventional catheters are being gradually replaced by safety IV catheters. Further, around two billion conventional syringes in the US are sold yearly for over half of all NSIs. Hence, there is a rise in demand for safe IV catheters to reduce injuries during injections and IV catheter placement, driving the market growth.

Expanding Population with Chronic and Lifestyle Diseases

Almost every country is experiencing a rise in the older population attributed to its proportion and size worldwide. In 2019, the number of persons aged 65 and above was 703 million worldwide, according to the UN. This aging population is anticipated to reach 1.5 billion in 2050. An increase in longevity and a decline in fertility are boosting the growth of the elderly population. In addition, chronic diseases are the primary cause of death and disability across the world. In recent years, the prevalence of various acute and chronic diseases such as heart disease, respiratory diseases, cancer, stroke, chronic obstructive pulmonary disease (COPD), obesity, and hormonal disorders have increased substantially. The steady surge in the number of people with chronic conditions and the rapidly growing elderly population are the major factors driving the demand for peripheral IV catheters across the globe.

Global PIVC Market Restraint

PIVC-related Bloodstream Infection Risks

PIVCs have been rarely associated with bloodstream infections, as stated in the 2011 CDC guidelines for preventing intravascular catheter-related bloodstream infections (CABSIs). Long-term insertion of IV catheters will lead to an increased risk of infections known as CABSIs. These are further associated with higher mortality, hospitalization costs, and patient morbidity. It is a lethal, most frequent, and costly peripheral and central venous catheterization complication. Of all the healthcare-associated infections, CABSIs are the most expensive and account for USD 45,000−USD 50,000 per patient. Such factors are estimated to hamper market growth.

Global PIVC Market Opportunities

Rise in Approval of Parenteral Drugs

The number of parenteral medications awaiting approval and the production of biologics and complex active pharmaceutical ingredients has grown. The US Food and Drug Administration's Center for Drug Evaluation and Research (CDER) approves parenteral drugs as new molecular entities (NMEs). These NMEs have increased in number over the years. Parenteral drugs accounted for around 40% to 50% of NME approvals from 2015 to 2019. In 2019, the FDA approved 48 NMEs, of which 20 were parenteral drugs, representing 42% of NME approvals. Parenteral drugs accounted for 39% of the 59 NME approvals in 2018 and 19 of the 46 NME approvals in 2017, or roughly 41%, respectively.

In addition, the demand for parenteral drugs has increased with advancements in the pharmaceutical sector and recent catalyzation due to COVID-19. Parenteral drugs allow for a gradual or instantaneous controlled release that oral medication cannot always provide. These drugs require a clinician for administration, thereby minimizing errors and the subsequent costly, dangerous consequences. Therefore, the increase in approval of novel parenteral products administered intravenously contributes to the growth opportunities for PIVCs.

Regional Analysis

Based on region, the global peripheral intravenous catheters (PIVC) market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America Dominates the Global Market

North America is the most significant global peripheral intravenous catheters (PIVC) market shareholder and is anticipated to boost at a CAGR of 0.42% during the forecast period. Due to population growth, there has been a growing rate of infectious and chronic illnesses such as heart diseases, cancer, and others, which is increasing the need for PIVCs in the region. This is further contributing to the rising hospitalization rates, increasing number of surgical procedures, growing need for supplying drugs and nutrients for patients intravenously, and rising injectable drugs market demand compared to oral drugs. North America has advanced hospital infrastructure that focuses on avoiding risks of infection and cross-contamination by opting for PIVCs such as closed/integrated IV and midline catheters. As there is high awareness regarding PIVCs and their associated complications, the adoption of safety PIVCs is increasing rapidly in the region.

Europe is estimated to exhibit a CAGR of 1.27% over the forecast period. Chronic disease-related aging and its prevalence have dramatically increased in the region. Further, due to various risk factors such as smoking, pollution, and other underlying diseases, the prevalence of chronic diseases among both adults and the elderly population has increased. The highly advancing healthcare system and an increasing number of vendors offering various PIVCs are further boosting the market growth in the region. In addition, the healthcare system in Europe is highly advanced, regulated, sophisticated, and evolved with a standard reimbursement structure. A rise in chronic diseases has contributed to the peripheral intravenous catheters market growth. Further, the rising demand for retractable and safety needles is propelling the growth of PIVCs in the European region. The presence of highly trained medical professionals has further positively impacted the usage of PIVCs for treating patients by supplying them with drugs and nutrition.

Asia-Pacific is the fastest-growing region in the PIVCs market. Significant factors contributing to the market's growth across the region include the rising elderly population suffering from acute and chronic conditions. Most deaths in Asia-Pacific occur due to non-communicable diseases, especially in the Western Pacific and Southeast Asia. Improvement in healthcare access and favorable government initiatives have increased patient admissions in various healthcare centers and the simultaneous peripheral intravenous catheters market demand. In addition, the incidence rate of various lifestyle diseases, including diabetes, is highly prevalent among Asian countries. For instance, in 2017, around 80 million people had diabetes in Southeast Asia, which is anticipated to reach approximately 151 million by 2045. Further, the Asia-Pacific region has the highest number of obese people globally, accounting for around one billion overweight and obese adults. Due to the disease burden and high-risk factors, the region is desirable for many global and local vendors manufacturing PIVCs.

LAMEA accounted for minimal peripheral intravenous catheters market share in 2022. Though these regions account for less revenue share, they have many people associated with chronic diseases and need advanced healthcare infrastructure. Growing awareness of advanced PIVCs will boost the demand for PIVCs during the forecast period. In addition, the presence of few established vendors in these regions is one of the primary reasons for the low market share.

Segmental Analysis

The global peripheral intravenous catheters (PIVC) market is segmented by product, technology, and end-user.

Based on the product, the global market is bifurcated into short peripheral IV catheters and peripheral midline IV catheters. 

The short peripheral IV catheters segment dominates the market and is projected to exhibit a CAGR of 0.21% over the forecast period. Short peripheral IV catheters are used in patients who cannot absorb medication orally due to illness. Peripheral vascular access devices are widely used in inpatient and outpatient settings. Such devices are a critical component in healthcare areas. In addition, peripheral catheters are appropriate venous access devices for short-term therapies, generally less than seven days. Some frequently prescribed products for infusions by peripheral catheters include hydration, diuretics, steroids, gamma globulin, and antibiotics. These devices are tailored to provide safe and reliable care in different types, sizes, and duration.

Midline IV catheters are made of silicone or polyurethane and are available as a single or double lumen. Midline PIVCs provide better hemodilution and a longer dwelling time than short PIVCs. These catheters are generally used for venous access for 1-4 weeks and 6-10 days in neonates. Midline PIVCs can be used in inpatient and outpatient settings. Hydration, blood products, pain medications, diuretics, and some antibiotics are typical midline therapies. Therapies unsuitable for these catheters include parenteral nutrition, continuous vesicant therapy, and infusate with over 900 mOsm/L osmolality. Midline catheters are appropriate for delivering near isotonic or isotonic solutions and solutions with a pH of 5-9.

Based on technology, the global market is divided into conventional peripheral intravenous catheters and safety peripheral intravenous catheters. 

The conventional peripheral intravenous catheters segment is responsible for the largest peripheral intravenous catheters market share and is anticipated to exhibit a CAGR of 0.73% over the forecast period. Conventional PIVCs are simple, inexpensive IV lines used for short-term intravenous therapy. These PIVCs allow the safe infusion of medications, hydration fluids, blood products, and nutritional supplements. These devices help to provide treatments that cannot be administered or are less effective when given by alternative routes. Some drugs are better or more effective on intravenous administration owing to the drugs' rapid onset or increased bioavailability. Such therapies have increased the demand for conventional PIVCs.

Safety PIVCs are used to reduce the risk of needle injuries. Adopting safety IV catheters lowered sharp injuries by 63% during 2001-2004, according to the Exposure Prevention Information Network (EPINet). Its implementation has become a priority in most healthcare facilities in the US, notably since the Needlestick Safety and Prevention Act mandated the usage of safety devices in 2000. Earlier, anesthesiologists resisted the use of safety IV catheters for various reasons. Several anesthesiologists expressed their concern regarding safer equipment that may compromise patient safety. However, with the growing advancements in safety PIVCs, anesthesiologists are constantly adopting IV catheters for hospitalized patients.

Based on end-user, the global market is segmented into hospitals, ambulatory surgical centers, homecare, and others. 

The hospital segment owns the highest PIVC market share and is estimated to exhibit a CAGR of 0.64% during the forecast period. Every hospital uses PIVCs to withdraw blood and fluid samples and administer drugs and nutrients. In emergency care and intensive care units, blood collection through IV lines is very popular owing to the high efficiency associated with the dual use of single venous access for the infusion of medications and the collection of multiple blood specimens for diagnosis and treatment purposes.

In ambulatory care, several surgeries are performed on the same day in outpatient surgery centers that provide advanced healthcare facilities to patients. ASCs have many benefits, making patients prefer them over hospitals. These include reduced cost, low risk of infection, clinical excellence, easy navigation, and better patient care than in other medical settings. ASC focuses on a specialized number of surgical procedures added with quality and is patient-centric and cost-effective. Patients can save as much as 50% in out-of-pocket expenses by choosing an ASC over a hospital. The significant advantage of ASC is that they provide surgical and therapeutic services that do not require extended periods of hospitalization.

Recent Developments

• February 2023- MedSource Labs was granted a group purchasing agreement for Peripheral Intravenous Catheters (PIVC) Solutions through Premier's AscenDriveTM program is designed to drive the highest level of member commitment and savings through aggregated purchasing of high-quality products and services.

• March 2023- Skydance Vascular, a medical device company that redesigned the peripheral intravenous catheter (PIVC), published in the Journal of Vascular Access the results of a study titled "The Potential Role of through the Needle PIVC Insertion in Reducing Early Catheter Contamination." The company's Osprey PIVC, which reduces skin bacteria exposure during insertion, is featured in the study.