Intravenous therapy delivers liquid substances directly to the veins. Intravenous route is the fastest way to deliver medications or fluid replacement substances into the body via veins. IV administration sets are accessories required to deliver fluids to patients to treat various conditions such as dehydration, electrolyte imbalance, and other conditions requiring specialized parenteral drug therapies. The rate of delivery of liquid can be adjusted with a roller clamp of an IV administration set. Primary IV administration set is either a macro-drip solution administration set that delivers 10, 15, 20 gtts/ml, or micro-drip set which delivers small amount of fluid over longer period of time. Micro-drip tubing’s are used primarily in neonatal or pediatric care. Components of a primary IV administration set are back check valve, access port, roller clamp, and secondary IV tubing. A secondary IV administration set does not contain access port or back check valve. It is shorter in length than a primary IV administration set. Rise in demand for IV administration sets due to increase in number of patients hospitalized for various treatments, surge in incidence of chronic diseases, and rise in adoption of advanced treatment options are anticipated to boost the growth of the global IV administration sets market. However, increase in incidence of medication errors, product recalls, and stringent regulatory requirements are the factors restraining the market.
The global IV administration sets market can be segmented based on product type, usage pattern, application, end-user, and region. In terms of product type, the market can be categorized into standard gravity IV administration sets and IV administration sets supported by infusion pumps. Standard gravity IV sets account for the largest market share due to self-dependence and low cost of these products. Based on usage pattern, the global IV administration sets market can be classified into primary IV administration sets and secondary IV administration sets. The primary IV administration sets segment dominates the global IV administration sets market due to large number of applications in various therapeutic fields. In terms of application, the market can be divided into blood administration sets, veterinary administration sets, epidural administration sets, chemotherapy administration sets, and autohemotherapy administration sets. Based on end-user, the global IV administration sets market can be categorized into hospitals, clinics, ambulatory surgical centers, and home care settings.
Geographically, the global IV administration sets market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global IV administration sets market due to increase in geriatric population, rise in prevalence of chronic diseases, and developed health care facilities in this region, leading to increasing demand for IV administration sets especially in U.S. Europe is the second largest market for IV administration sets due to surge in demand for advanced health care products, rise in incidence of lifestyle diseases, and increase in geriatric population. Asia Pacific is expected to witness the fastest growth in the global IV administration sets market owing to rise in population, increase in incidence of chronic diseases, and increasing healthcare expenditure in countries such as China, India, and other countries, which is expected to drive the demand and consumption of the IV administration sets in the Asia Pacific market during 2017-2025.
Key players operating in the global IV administration sets market are B. Braun Medical Inc., Baxter, Poly Medicure Limited, ACE Medical, C. R. Bard, Inc., Fresenius Kabi AG, B?çakc?lar A.?., Smiths Group plc, and Merit Medical Systems, Inc., among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.