The global IV Dressing Market is estimated to be valued at US$ 794.7 Mn or Million in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
IV dressings are crucial for intravenous therapy administration as they protect the cannula insertion site from infection and secure tubing. IV dressings minimize site contamination and prevent needle stick injuries. They prevent fluid leakage and secure connections between tubings and devices.
Market key trends:
One of the key trends in the IV dressing market is the growing preference for adhesive dressings over non-adhesive ones. Adhesive dressings securely hold the tubing and prevent needle dislodgement. They minimize site exposure and chances of infection. Moreover, adhesive dressings do not require extra tape, thereby reducing the overall cost of dressing. They provide 360-degree coverage of the site and cannula. This ensures optimal protection compared to non-adhesive dressings which require additional tape.
Market key trends:
One of the key trends in the IV dressing market is increasing preference for transparent dressings. These dressings provide visibility of the insertion site which helps to monitor for signs of infection or dislodgement. The transparent material also reduces the risk of trapping moisture and bacteria beneath the dressing. This increases the comfort of patients as it reduces the need to change dressings frequently.
SWOT Analysis
Strength: Transparent dressings provide good visibility which allows for close monitoring of IV sites. This reduces complications.
Weakness: Some dressings have weak adhesives which can cause discomfort upon removal and risk of dislodging the catheter.
Opportunity: Growing geriatric population prone to chronic diseases increases need for long-term vascular access devices. This drives demand for secure and long-lasting dressings.
Threats: Strict regulations around safety and performance of dressings adds to production costs.
Key Takeaways
The global IV Dressing market Growth size is expected to reach a value of US$ 1,135.7 Mn by 2030, expanding at a CAGR of 5.3% during the forecast period. Increasing prevalence of chronic diseases requiring long-term IV treatment lines is a major factor contributing to the growth of this market.
Regional analysis: North America dominated the global market in 2023 and is expected to maintain its lead through 2030 due to rising healthcare expenditure and advanced healthcare infrastructure in the region. Asia Pacific is expected to witness the fastest growth over the forecast period owing to increasing medical tourism, large patient pool and improving access to healthcare in developing countries such as India and China.
Key players operating in the IV dressing market are Becton, Dickinson and Company, Lohmann & Rauscher, Komal Health Care Pvt. Ltd., Paul Hartmann AG, DeRoyal Industries Inc., Tytex, Shandong Dermcosy Medical Co., Ltd., Smith & Nephew plc, Dynarex Corporation, Talent Healthcare, 3M and Datt Mediproducts Pvt. Limited. These players are focusing on new product launches and geographical expansion to gain a competitive edge in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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