IV Pole: Introduction
- Intravenous (IV) poles are medical supportive tools widely used in healthcare settings such as hospitals, clinics, home healthcare, and others. IV pole carry bags and deliver the necessary medications to patients. IV medication is introduced to the patient through an IV injection.
- All IV pole designs contain hook at the top and wheels at the base. These designs differ by the accessories attached to them.
- Different types of materials are used in the IV pole manufacturing, which include stainless steel, chrome plated steel and other materials such as Aluminum
- IV pole helps provide effective infusion care through a safety hanging of IV-bottles and bags
Key Drivers of Global IV Pole Market
- Increase in number of hospitals, technological advancements in IV pole, and rise in healthcare expenditure are expected to help increase the growth of the IV pole market during the forecast period. Increasing number of hospitals due to rise in number of patients suffering from various types of diseases results in boost in demand for hospital beds and IV pole for IV solution administration in patients. According to a recent survey conducted by the American Hospital Association, around 6,210 hospitals are in the U.S., which include community hospitals, Federal Government Hospitals, and Nonfederal Psychiatric Hospitals.
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- Increase in number of hospitals in countries such as China, India, and Brazil leads to increase in demand for IV pole in the treatment of patients. According to recent study, more than 19,000 hospitals are present in China and around 38,000 hospitals present in India. Hence, increase in number of hospitals globally is expected to create a good opportunity to IV pole manufacturers.
- Increase in healthcare expenditure in most of the developed countries is expected to drive the revenue growth of the global IV pole market. Increasing healthcare spending is expected to directly impact the need for better hospital infrastructure, which, in turn, is expected to create high growth opportunities for players in the global IV pole market over the forecast period. According World Health Organization (WHO), in 2018, about US$ 3,600.0 per capita was spent on health expenditure in the U.S.
4 Hook IV Pole Segment to Witness High Demand
- Based on product type, the global IV pole market can be segmented into 2 hook top, 4 hook top, 6 hook top, and 8 hook top IV pole
- The 4 hook top segment accounted for the highest share of the IV pole market in 2019. This segment is expected to dominate the IV pole market due to increasing demand for 4 hook top IV pole from hospitals and other end-users.
Stainless steel Segment to Witness Significant Growth
- In terms of material, the global IV pole market can be divided into stainless steel, chrome plated steel, and others
- The stainless steel segment generated the highest revenue in 2019 and is anticipated to witness growth during the forecast period. This can be attributed to launch of new stainless steel containing IV poles from major manufacturer and increasing preference for stainless steel IV pole.
Hospitals Segment to be Most Promising Segment
- In terms of end-user, the global IV pole market can be divided into hospitals, clinics, ambulatory surgical centers, nursing homes, long term care centers, and homecare settings. The hospitals segment generated the highest revenue in 2019 and is anticipated to witness growth during the forecast period due to increasing number of hospitals in emerging counters such as India and China.
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Europe to Dominate Global IV Pole Market
- In terms of region, the global IV pole market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Europe dominated the global IV pole market in 2019 and is expected to maintain its leading position during the forecast period. High number of hospital beds with IV pole and presence of major manufacturers is likely to increase the growth of the IV pole market in Europe.
- The market in Asia Pacific is projected to register highest growth during the forecast period, owing to increase in adoption of new products and rise in demand for IV pole in emerging countries such as India and China
Key Manufacturers Operating in Global Market
The global IV pole market was highly fragmented in 2019. Key manufacturers operating in the global market are:
- Cardinal Health
- Medline Industries, Inc.
- 3M Company
- Centicare Corporation
- AliMed Inc.
- Mid Central Medical
- A.M.G. Medical Inc.
- Drive DeVilbiss Healthcare
IV Pole Market: Research Scope
IV Pole Market, by Product Type
- 2 Hook Top
- 4 Hook Top
- 6 Hook Top
- 8 Hook Top
IV Pole Market, by Material
- Stainless Steel
- Chrome Plated Steel
IV Pole Market, by End-user
- Stainless Steel
- Chrome Plated Steel
IV Pole Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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.