LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global disposable IV products market to grow at a CAGR of close to 7% during the forecast period, according to their latest market research report.
The growing adoption by home healthcare users is expected to be one of the major trends being witnessed in the global disposable IV products market 2018-2022. Home IV solution therapy is becoming increasingly popular among patients globally. The increase in the aging population promotes the use of disposable IV products since IV infusions enable patients to be discharged from hospitals early and recuperate in their homes using home IV infusions.
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According to Technavio analysts, one of the key factors contributing to the growth of the global disposable IV products market is the rising occurrence of chronic diseases:
Global disposable IV products market: Rising occurrence of chronic diseases
Chronic diseases such as cancer, diabetes, and CVDs have significantly increased owing to factors such as the increase in urbanization, sedentary lifestyles, and an unbalanced diet. Cancer patients face complications such as malnutrition, weight loss, and anorexia, that affects the fluid balance and cause instability, leading to high mortality rates in patients.
According to a senior analyst at Technavio for research on life science research tools, “Cancer patients must undergo chemotherapy sessions, which involve the delivery of chemotherapy drugs through IV drips and administered using IV sets, pumps, and fluid bags. The course of the treatment ranges from two to six weeks with multiple infusions administered. This increases the demand for disposable IV products to securely dispose of the toxic fluids remaining after administering drugs.”
Global disposable IV products market: Segmentation analysis
The global disposable IV products market research report provides market segmentation by end-user (hospitals and home healthcare) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major end-users, the hospitals segment held the largest market share in 2017, contributing to close to 45% of the market. The growth of the segment can be due to the global prevalence of chronic diseases that increases patient visits to hospitals.
The Americas held the largest share of the market in 2017, accounting for close to 43% share, with the US, Canada, and Brazil being the major revenue contributors. Factors such as the high demand for disposable IV products, significant investments in healthcare research in North America, and the incidence of infectious diseases such as influenza to drive growth in the region.
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Five Forces Analysis
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