IV (intravenous) fluid monitoring devices play a crucial role in healthcare settings by providing real-time information on the administration of intravenous fluids to patients. These devices help ensure accurate fluid delivery, prevent complications, and enhance patient safety.
Baxter International expands its Smart Fluid Management System with new features platform now offers cloud-based data storage and remote monitoring capabilities, enhancing care coordination and patient safety.
ICU Medical acquires Sensium Healthcare's smart IV pump technology acquisition strengthens ICU Medical's portfolio and enhances their focus on data-driven fluid management solutions.
B. Braun Melsungen AG partners with a start-up for continuous intravascular pressure monitoring collaboration aims to develop minimally invasive sensors for real-time fluid status assessment, potentially improving patient outcomes.
List of IV Fluid Monitoring Devices Key Companies in the Market
The IV Fluid Monitoring Devices Market Size was valued at USD 4.2 Billion in 2022 and is projected to grow from USD 4.5 Billion in 2023 to USD 7.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.20% during the forecast period (2023 - 2032). Increased use of IV fluid transfer devices and concerns from contamination during drug delivery, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
IV Fluid Monitoring Devices Market Trends
During the projection period, it is anticipated that the market for intravenous fluid transfer pharmaceuticals devices will expand considerably. Growing contamination risks have been a key factor in the market expansion of IV fluid transfer medication devices. The global market for these devices is anticipated to expand rapidly in the coming years as a result of the growing use of IV fluid transfer devices during the administration of medications. The market for IV liquid transfer devices is predicted to grow as a result of the predetermined risk factors. Government healthcare spending will significantly influence market growth. Companies are putting a lot of effort into creating IV fluid transfer devices so they can show them to potential clients. On the market, a variety of IV fluid transfer medication devices are offered for various applications and end users.
The global market for intravenous fluid monitoring devices is expanding as a result of rising infusion therapy device usage in home care settings. As chronic diseases like cancer become more common, home treatments utilizing medical equipment like infusion therapy devices are rising. Devices for home infusion therapy offer safe, accurate, and precise medication delivery based on the patient's demands, which minimizes the need for protracted hospital stays and increased medical expenses for treating chronic illnesses. The home-care infusion pump market is expanding as a result of the growing trend of wireless and remote programming capabilities, which enable physicians and pharmacists to set and track medication dose parameters and reduce the need for frequent hospital visits.
The market for IV fluid transfer medications and devices is regularly introduced to a significant number of new items. The development of new technologies is accelerating. Healthcare workers may now treat patients more effectively and efficiently thanks to medical developments. They are also bringing down the overall cost of therapy, which is assisting in the market's expansion. Thus, driving the IV Fluid Monitoring Devices market revenue.
IV Fluid Monitoring Devices Market Segment Insights
IV Fluid Monitoring Devices End User Insights
The Market segments of IV Fluid Monitoring Devices, based on End User, includes hospitals and clinics, ASCs, and home care. Hospitals and clinics category held the largest share of the global market in 2022 and will play a key role in the expansion of the IV Fluid Monitoring Devices market over the coming years. Due to the availability of better patient care, convenient appointment rescheduling, and good reimbursement scenarios, many patients receive treatment in clinics. Patients are visiting clinics in greater numbers. As a result, hospitals and clinics are working together to deliver healthcare services within hospitals.
IV Fluid Monitoring Devices Type Insights
The IV Fluid Monitoring Devices Market segmentation, based on Type, includes desktop and portable. In 2022, the desktop category held the greatest market share. However, due to the rising preference for portable devices among patients and insurance providers, the portable category is anticipated to increase at the greatest CAGR throughout the forecast period.
Figure 1: IV Fluid Monitoring Devices Market, by Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
IV Fluid Monitoring Devices Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America IV Fluid Monitoring Devices Market dominated the global market in 2022 with 45.80% share. As the population, health consciousness, and prevalence of chronic diseases in this area have all increased, so has the demand for medical equipment. IV fluid transfer medication devices get easier to use as technology develops and designs get better, which helps them gain market share. Further, the U.S. market of IV Fluid Monitoring Devices held the largest market share, and the Canada market of IV Fluid Monitoring Devices was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: IV FLUID MONITORING DEVICES MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe IV Fluid Monitoring Devices market accounts for the second-largest market share. The market of IV Fluid Monitoring Devices is anticipated to have considerable expansion in the near future on the worldwide market as a consequence of the rising awareness and better healthcare infrastructure in Europe. Further, the German market of IV Fluid Monitoring Devices held the largest market share, and the U.K market of IV Fluid Monitoring Devices was the fastest growing market in the European region
The Asia Pacific IV Fluid Monitoring Devices market is expected to register fastest CAGR from 2023 to 2032. Throughout the forecast period, a sizable number of key players are anticipated to support the expansion of the market of IV Fluid Monitoring Devices in the area. Asia's modest market share is partly attributed to the region's state-of-the-art medical facilities and the widespread availability of IV Fluid Monitoring Devices. Moreover, China’s market of IV Fluid Monitoring Devices held the largest market share, and the Indian market of IV Fluid Monitoring Devices was the fastest growing market in the Asia-Pacific region.
IV Fluid Monitoring Devices Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the market of IV Fluid Monitoring Devices, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, IV Fluid Monitoring Devices industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global IV Fluid Monitoring Devices industry to benefit clients and increase the market sector. In recent years, the IV Fluid Monitoring Devices industry has offered some of the most significant advantages to medicine. Major players in the IV Fluid Monitoring Devices market, including Baxter International Inc., BC Group International Inc., Becton Dickinson and Co., Cole Parmer Instrument Co. LLC, Datrend Systems Inc., EVELABS TECHNOLOGIES Pvt. Ltd., Fortive Corp., Gossen Metrawatt GmbH, ICU Medical Inc., IRadimed Corp., ivWatch LLC, Micrel, Medical Devices SA, MONIDOR Oy Ltd., NETECH Corp., and Pentland Medical Ltd., are attempting to increase market demand by investing in research and development operations.
In addition to providing medical services, B. Braun Melsungen AG (B. Braun) also develops, produces, and distributes pharmaceutical and medical products. Some of the company's primary products include infusion solutions and consumables, cleaning supplies, infusion pumps and systems, nutrition and pain management, suture materials, hip and knee implants, surgical tools, dialysis equipment and accessories, ostomy care, and wound care items. In the areas of anesthesia, extracorporeal blood transfusion, intensive care, cardiology, and surgery, B. Braun offers products and systems. Additionally, it provides services for medical practices, clinics, and the home care industry. Europe, the Americas, Asia-Pacific, Africa, and the Middle East are all regions where the corporation offers its goods. The headquarters of B. Braun are in Melsungen, Germany. The U.S. Food & Drug Administration (FDA) granted final approval to B. Braun Medical Inc. in March 2022 for the construction of a pharmaceutical manufacturing plant in Daytona Beach, Florida. The facility will make injections of sodium chloride at 0.9% concentrations that are available in Braun's Excel Plus IV Bags with 1,000 mL and 500 mL capacities. The bags for the Excel Plus IV do not contain PVC or natural rubber latex.
The company Baxter International Inc. (Baxter) offers a variety of medical supplies. Dialysis for both acute and chronic illnesses, sterile intravenous solutions, parenteral nutrition therapies, inhaled anesthetics, infusion systems and devices, generic injectable medications, and surgical hemostat and sealant products are among the company's product and service offerings. Hospitals, kidney dialysis clinics, rehabilitation facilities,nursing homes, and patients' homes all use the company's products. Baxter distributes its goods through a network of medication wholesalers, independent distributors, specialty pharmacies, and other providers of alternate sites in addition to its own direct sales staff. Operationally, the corporation is present across the Americas, the Middle East, Africa, Europe, and Asia-Pacific. The U.S. city of Deerfield, Illinois, serves as the headquarters of Baxter. entered into a binding contract to buy Cheetah Medical, a pioneer in non-invasive hemodynamic monitoring technology, in September 2019.
Key Companies in the market of IV Fluid Monitoring Devices include
IV Fluid Monitoring Devices Industry Developments
May 2019:Â In the U.S. healthcare system, B. Braun Melsungen AG announced a $1 billion investment and improved IV treatment manufacturing facilities. For the intravenous administration of drugs for a variety of chronic diseases like cancer, diabetes, kidney ailments, etc., intravenous (IV) fluid bags are employed.
IV Fluid Monitoring Devices Market Segmentation
IV Fluid Monitoring Devices End User Outlook
IV Fluid Monitoring Devices Type Outlook
IV Fluid Monitoring Devices Regional Outlook
North America
Europe
Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
IV Fluid Monitoring Devices Market Highlights:
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