The IV Tubing Sets And Accessories Market To Be Revolutionized By “Call To Paradigm Shift” Towards Innovation

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IV Tubing Sets And Accessories Market
Report Id PMRREP20608 Category Life Science
Healthcare
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The IV Tubing Sets And Accessories Market To Be
Revolutionized By Call To Paradigm Shift
Towards Innovation

• Rising geriatric population across regions is
  expected to drive demand for IV tubing sets and
  accessories, since people aged above 60 years are
  at a high risk of developing cancer. As indicated
  by a World Health Organization (WHO) report,
  around 23.6 million new instances of chronic
  diseases are projected to be accounted for
  worldwide by 2031. High occurrence of chronic
  diseases, for example, malignant diseases and
  kidney problems, demand for expanding diagnostic
  and therapeutic procedures, including dialysis.
• Key players in the market are focusing on
  production of advanced tubing sets using medical
  and pharmaceutical-grade silicones and
  thermoplastics as raw material in order to
  deliver increasing level of performance.
  Increasing demand for smaller devices made from
  micro components and tubing in order to meet
  demand requirements in minimal invasive
  procedures is anticipated to provide large
  opportunities for market players.
• The global IV tubing sets and accessories
  market is estimated to be valued at US 1.7 Bn in
  2021, and is expected to exhibit a CAGR of close
  to 5 over the forecast period (2021 2031).

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Key Takeaways from Market Study   

• Primary IV tubing sets held maximum value in the
  market, owing to rising number of chronic
  diseases leading to increased medical procedures.
• Adults, by age group, are expected to hold
  maximum share in 2021, due to increasing
  unhealthy lifestyle habits.
• By application, peripheral intravenous catheter
  insertion captured a notable revenue share of
  more than half of all the applications in IV
  tubing sets and accessories.
• Owing to the rising cancer cases requiring
  surgeries, hospitals are expected to experience
  lucrative growth among all end users at a CAGR of
  5.
• North America accounted a share of around 30 in
  2020, and is expected to show significant growth
  over the next ten years.
• Europe is the next dominating region with a
  market share of 25 in 2020, due to its
  flourishing medical devices industry.
• Increasing geriatric population, rising number
  of medical procedures, rising chronic diseases,
  and advanced tubing technology are expected to
  drive market growth, says a Persistence Market
  Research analyst.

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