The global IV fluid monitoring devices market is expected to grow by USD 1,210.92 million as per Technavio. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic.
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Technavio has announced its latest market research report titled Global IV Fluid Monitoring Devices Market 2020-2024 (Graphic: Business Wire)
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Market estimates include pre- and post-COVID-19 impact on the IV fluid monitoring devices market - Request free sample pages
The global IV fluid monitoring devices market is expected to witness an upsurge due to the spread of COVID-19. The extension of containment efforts is leading to increased demand, which is leading to higher revenue growth for market players. Also, the prices are expected to remain elevated for the short term due to lower production caused by shutdowns.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
The market is driven by an increase in the number of hospitalizations. In addition, the emergence of smart infusion therapy devices is anticipated to boost the growth of the IV fluid monitoring devices market.
The growing global population and the rising prevalence of various acute and chronic diseases have increased the number of hospitalizations across the world. For instance, in 2018, about seven out of 10 people in the US had at least one chronic disease such as cancer, heart disease, stroke, and diabetes. In addition, the rapid spread of the COVID-19 pandemic has increased the need for intravenous access devices which are crucial in providing medication and fluids to hospitalized patients. Also, the high influx of patients increases the chances of errors in monitoring fluid transfusions. Hence, end-users are increasingly adopting IV monitoring devices to ensure patient safety. These devices use IR sensors, RF transmitters, receivers, and buzzers to inform the control room either to change the intravenous set or to switch it off. With the rising number of hospitalizations, the growth of the global IV fluid monitoring devices market will gain momentum during the forecast period.
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Major Five IV Fluid Monitoring Devices Companies:
B. Braun Melsungen AG
B. Braun Melsungen AG operates its business through segments such as B. Braun Hospital Care, B. Braun Aesculap, B. Braun Out Patient Market, and B. Braun Avitum. The company offers various automated infusion systems such as Perfusor Space, Infusomat space, and SpaceControl.
Baxter International Inc.
Baxter International Inc. operates its business through segments such as the Americas, EMEA, and APAC. The company offers a wide range of IV fluid monitoring devices. Some of its key offerings include Spectrum IQ Infusion System and Baxter FloGard 6201.
Becton, Dickinson and Co.
Becton, Dickinson and Co. operate its business through segments such as BD Medical, BD Life Sciences, and BD Interventional. The company offers BD Alaris Pump Module. It is a large volume infusion pump that continuously or intermittently delivers fluids, medications, blood and blood products to adult, pediatric, and neonatal patients.
Fortive Corp. operates its business through segments such as Professional Instrumentation and Industrial Technologies. The company offers IDA-1S Analyzer through its subsidiary, Fluke Biomedical. It is a portable, high-performance infusion device analyzer designed for on-the-go testing.
ICU Medical Inc.
ICU Medical Inc. operates its business through a unified segment. The company offers the Plum 360 Infuser. It is a large volume infuser capable of delivering fluids for a variety of therapies such as parenteral, enteral, or epidural infusions. The Plum 360 infuser can deliver fluids over a broad range of infusion rates and is capable of Concurrent delivery from one or more rigid or flexible fluid containers
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IV Fluid Monitoring Devices Market End-user Outlook (Revenue, USD Million, 2020-2024)
- Hospitals and clinics
- Home care
IV Fluid Monitoring Devices Market Geographic Outlook (Revenue, USD Million, 2020-2024)
- North America
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