How Has the Intravenous Fluid Monitoring Devices Market Evolved Historically and What is its Current Size?
The intravenous fluid monitoring devices market has seen considerable growth due to a variety of factors.
• The market size of intravenous fluid monitoring devices has witnessed a marked increase in recent times. It is predicted to escalate from $5.12 billion in 2024 to $5.59 billion in 2025, manifesting a compound annual growth rate (CAGR) of 9.1%.
This growth during the historical period is due to factors such as growing prevalence of chronic diseases, increase in elderly population, enhancements in healthcare facilities, more rigorous regulations, as well as a surge in surgical procedures and critical care treatments.
What is the Forecasted Market Size and CAGR for the Intravenous Fluid Monitoring Devices Market?
The intravenous fluid monitoring devices market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for intravenous fluid monitoring devices is anticipated to witness robust growth in the coming years, with a projected value of $7.84 billion by 2029 and a compound annual growth rate (CAGR) of 8.8%.
The predicted expansion during this period can be linked to factors such as the growing focus on patient safety, the proliferation of health care facilities, the rising development of remote monitoring devices, the surge in smart and connected devices, and an increased awareness about fluid management. Foreseen trends during this timeframe encompass integration with the internet of things (IoT), utilization of artificial intelligence, the evolution of wearable technology, advancements in smart infusion pumps, and improvements in data analytics for enhancing fluid management strategies.
What Key Factors and Trends Are Driving The Growth Intravenous Fluid Monitoring Devices Market?
The anticipated surge in home healthcare is predicted to fuel the expansion of the intravenous fluid monitoring devices market. Home healthcare encompasses a variety of both medical and non-medical services dispensed directly to patients in their personal environments to ensure their health and wellness. An increasing elderly demographic, leading-edge medical technology, rising incidents of chronic diseases, and a growing penchant for home-based treatments due to its convenience and economic viability primarily account for the rise in home healthcare. Intravenous fluid monitoring devices in this context offer precise fluid management for patients, by maintaining correct hydration, medication administration and facilitating remote supervision for improved patient healthcare. For example, in November 2023, Public Health Scotland, a Scotland-based government agency, stated in a report that the Care at Home services in 2022/23 had clocked in just over 37.7 million hours, marking approximately a 3% growth in comparison to 2021/22. Thus, the increase in home healthcare is triggering growth in the intravenous fluid monitoring devices market.
What Are The Market Segments In The Intravenous Fluid Monitoring Devices Market?
The intravenous fluid monitoring devicesmarket covered in this report is segmented –
1) By Product Type: Wired Devices, Wireless Devices
2) By Application: Flow Monitoring, Volume Monitoring, Pressure Monitoring
3) By End User: Hospitals And Clinics, Ambulatory Surgical Centers, Home Care Settings, Other End-Users
Subsegments:
1) By Wired Devices: Wired Infusion Pumps, Wired Flow Meters, Wired Pressure Monitors, Wired Temperature Sensors, Wired IV Catheters
2) By Wireless Devices: Wireless Infusion Pumps, Wireless Flow Meters, Wireless Pressure Monitors, Wireless Temperature Sensors, Wireless IV Catheters
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What Trends Are Shaping The Intravenous Fluid Monitoring Devices Market?
Key players in the intravenous fluid monitoring devices market are establishing strategic alliances to improve their product range, broaden their market influence, and stimulate innovation. By partnering with technology companies or research organizations, these firms are able to incorporate advanced technologies such as the Internet of Things (IoT) and artificial intelligence (AI) into their devices. This not only boosts the precision but also the functionality of fluid monitoring systems. For example, in August 2023, B. Braun, a medical and pharmaceutical device company based in Germany, incorporated remote monitoring technology from Monitor, a Finnish health technology company, into their infusion pumps. This upgrade increased the flexibility of B. Braun’s IV therapy infusion pumps, enabling health professionals to supervise infusions from afar, thus enhancing the simplicity and precision of patient care.
Who Are the Key Players In The Intravenous Fluid Monitoring Devices Market?
Major companies operating in the intravenous fluid monitoring devices market are:
• Cardinal Health Inc.
• Johnson & Johnson Services Inc.
• 3M Company
• Medtronic plc
• Becton
• Dickinson and Company
• Baxter International Inc.
• B. Braun Holding GmbH & Co. KG
• Fresenius Kabi AG
• Terumo Corporation
• Mindray Medical International Limited
• Nipro Corporation
• Moog Inc.
• West Pharmaceutical Services Inc.
• ICU Medical Inc.
• Insulet Corporation
• Merit Medical Systems Inc.
• Avanos Medical Inc.
• NxStage Medical Inc.
• AngioDynamics Inc.
• Elcam Medical Inc.
• Zyno Medical LLC
• Sippex
• Arcomed AG
• Vitrex Medical A/S
What Are The Regional Insights Into The Intravenous Fluid Monitoring Devices Market?
North America was the largest region in the intravenous fluid monitoring devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intravenous fluid monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
