The global IV poles market is projected to grow at a CAGR of 6.37% to reach US$446.572 million by 2025, from US$308.302 million in 2019.
Rising prevalence of diseases such as Diarrhea, and Hypoglycemia among others leads to significant water loss in the body is boosting the growth of the market.
There are many diseases that leads to significant fluid loss which causes dehydration and thus intravenous fluid therapy is used in order to replace those fluids so as to aid in the proper function of the bodily functions. The most common types of used IV fluids are NaCl and Glucose. Therefore, these factors are leading to an increase in the demand for IV poles in order to hang the IV bags effectively, so that the fluid can be administered at a given rate effectively.
The increasing number of serious diseases which require the administration of pain medication and antibiotics in the body, is also a contributing factor in fueling the demand and propelling the market growth further over the forecast period. There are increasing cases of cancer such as colon cancer, lung cancer, pancreatic cancer among others, which is leading to large number of individuals that are going for chemotherapy sessions, thus it is increasing the demand for IV poles in order to suspend the IV containing the chemotherapy chemicals.
Moreover, there are an increasing number of individuals that are going for surgical operations, which is causing a surge in the demand for antibiotics, or administration of other drugs such as valium and morphine for effective pain management that the patients may feel post operations or for the administration of anesthetics before the operations start. Thus, these factors are leading to an increased demand for IV poles and contributing to the augmentation in the market.
Product Offerings by Major Market Players in the IV Poles Market Space
The offering of better and advanced varieties of IV poles with enhanced technologies such as quality and durability among other properties by existing and new players in different markets is estimated to lead to increased adoption and propel the market growth further over the forecast period.
Some of the examples of product offerings are as follows:
The North American region to hold a considerable share over the forecast period and the Asia Pacific region is expected to witness a significant increase in its market share over the forecast period
The Asia Pacific region is projected to witness significant growth over the forecast period, owing to the increasing investments being made by the market players and the government bodies to accelerate the development of the healthcare sector and provide the patients with the topmost quality of healthcare equipment and supplies.
Moreover, the North American region is expected to hold a considerable share over the forecast period due to the rising number of geriatric population and middle-aged population going in for surgical procedures and escalating cases of cancer in countries such as the US, due to sedentary lifestyle of the population.
Ambulatory Surgical Centers, to hold a considerable share and to grow at a notable pace over the forecast period.
There is a surge in the number of individuals that are preferring outpatient services and minimally non-invasive surgeries, which are also known as ambulatory surgical centers. This is attributable to the fact that the period of stay involved in these surgical centers is less, the surgeries and procedures are completed within a day, and results are also disclosed faster, thus making it more convenient for the patients. In addition, the growth in the geriatric population is also adding to the market growth of this segment and aiding it to grow at a significant pace.