The medical devices market globally is set to grow to $886.80 billion by 2032. This points at a CAGR of 6.3%. It is clear that any manufacturer needs to stay on top of trends to utilize this potential.
In this blog, we will look at the global trends in this burgeoning market.
Introduction
The medical devices market is set to grow rapidly to meet patient demand. Most of this growth is seen in:
- Single-use medical devices
- IV cannula
- ENT devices
- Cardiovascular devices
Medical devices, in recent times, have seen a very high growth rate. This is a direct result of population growth, medical innovations and lifestyle diseases.
The most used of these medical devices is the Medical IV cannula. Since it is a must need for most patients, they are always in high demand. So let’s explore what this device is, its history and market trends.
What is an IV Cannula?
Also called an IV catheter, IV Cannula is a flexible, small plastic tube, that is used to deliver drugs directly into a patient’s blood.
Every IV Cannula has the following parts:
- The needle to puncture the skin and access the vein.
- Flexible cannula tubing to deliver the medicines.
- Needle Grip for better control.
- Wings to anchor the IV cannula at the time of insertion.
- Luer Connector to connects the IV cannula to external devices.
- Luer Lock Plug to connect the IV cannula and other devices securely.
- Flashback chamber to give a visual confirmation of successful entry into the vein by showing a flashback of blood.
- Valve to prevent backflow and flashback of fluids.
- Injection port to deliver additional drugs.
- Bushing for structural integrity.
- IV filters to remove air bubbles, small particles, and other foreign matter.
Types of IV cannulas
With sizes ranging from 18G to 22G, there are various types of IV cannulas in use. These are further classified as per their uses into:
- Midline catheters
- Peripheral IV Cannula
- Central Venous catheters (CVCs)
- Draining cannulas
- Winged infusion sets
Here are a few common types of IV cannulas that are used.
Peripheral IV cannulas
These are flexible tubes that are inserted into the vein for delivering IV fluids and drugs. They are the most widely used IV cannulas and find uses in:
- Surgical procedures
- The ER
- Drawing blood
- Blood transfusions
- Delivering IV fluids and drugs
- Radiology
Common insertion sites are:
- Scalp (for infants)
- Inner elbow
- Hands
- Foot
While deeper veins might need ultrasonic guidance, usually a catheter over needle device is used. These IVs can stay in place for up to 72 hours, given that there are no issues.
Central Venous Catheters
CVCs are inserted into bigger veins directly below the collarbone. These are then guided into the superior vena cava. These can also be put in the arm, neck, chest, or groin.
They are used to:
- Provide treatments like:
- Blood transfusions
- Nutrition
- IV fluids
- Chemo drugs
- Other medicines
- Drawing blood samples
- Cardiac imaging
- Placing a transvenous pacemaker
- Monitoring blood circulation and checking on heart health
- Treating premature babies
- Temporary use in Dialysis
CVCs are built to stay in place for long periods of time (months to years). They also have short-term uses in hemodialysis. Some of them can have multiple tubes.
Midline Catheters
When IV fluids and drugs need to be delivered directly to a patient’s bloodstream for a few days, Midline Catheters are used. These don’t extend beyond the armpit, which makes them safer than CVCs. They are commonly used when the patient needs an IV for 1-4 weeks.
They are used for:
- Long-term therapies like cardiology
- Patients who have difficult venous access
- Drug delivery and nutrition
- Alternates of CVCs
- Administering antibiotics
History
Cases of IV therapy have been documented as early as the 1600s. However, most developments have taken place over the past 25 years.
Concept and Development
IV therapy was basically created to treat patients via blood, fluids and drugs which are directly sent into the bloodstream for quick action. Initially, IV therapy was used for:
- Quick delivery of drugs into a patient’s bloodstream
- Replenishing lost blood
- Restoring nutrient levels
- Delivering fluids and electrolytes
However, modern medical innovations have led to IV therapy being used for things like:
- Radiological test
- Cardiac imaging
- Placing transvenous pacemakers
- Dialysis
Historical Uses
The first recorded use of IV therapy was when the Pope was given a blood transfusion. In the 1600s-1800s animal to human transfusions and vice versa was explored by doctors. Thomas Latta, in 1831, used IV fluids for cholera treatment.
Development Over the Decades
Over the decades, IV therapy has evolved from experimental animal to human transfusions to performing complex medical procedures.
- The ancient Greeks used to perform bloodletting
- In 1492, the Pope was given the first recorded blood transfusion.
- The 1600s – 1800s saw a lot of experiments with animal and human transfusions.
- Successful use of IV therapy was recorded for diseases like typhus, cholera and scurvy.
- In the 1950s, introducing medicines to control blood pressure and heart rate was done via IV.
Modern IV therapy has a wide range of uses:
- Treating dehydration
- Delivering medicines and IV fluids
- Blood transfusion
- Treating drug overdose
- Radiological tests
- Complex medical procedures
Current Trends in IV Cannula Usage
With time, the need for medical intervention has increased among the population. Since a large number of medical procedures call for an IV line, the demand for IV cannula has grown notably.
Some current trends regarding the demand for IV cannulas:
- A rise in demand
- Growing market share: 6.2% from 2022-2027.
- A growth in the demand for 22G cannulas for quick fluid flow in patients with delicate or narrow veins
- Healthcare requirement for ageing population
- Increased demand for intravascular devices
Increasing Demand in Healthcare
An increase in hospitalization has been observed among the population. This is due to:
- High obesity rates
- Sedentary lifestyle
- Increase in the number of surgical procedures
- Medical disorders
- Chronic diseases
- Spread of infections like COVID
- Development of minimally invasive procedures
- Ageing population
- Accidents
All of these have led to an increase in the demand for IV cannulas and other single-use medical devices.
Technological Innovations
IV infusion therapy has undergone rapid changes in the last decades. Newer, more innovative procedures have been developed keeping patient comfort in mind. This has not only increased the general use of IV cannulas but also increased the number of tests and procedures which can be done via an IV cannula.
Some of these are:
- Including smart pumps for better control of drug delivery and infusion rates
- Custom IV sets to reduce errors
- Anti-microbial sets
- Design improvement of IV cannula sets
- Remote access to monitor patient health
Better Materials
The materials which are being used to make IV cannulas and infusion sets have undergone a significant change. Newer, better options are now available when making these like:
- Hypoallergenic materials
- Anti-microbial IV cannula
- Bioplastics
Higher Safety
To maintain patient safety and reduce human errors, manufacturers have taken steps to make design changes in single use medical devices. These are:
- Custom IV sets
- Smart pumps
- Remote access via secure web portals for monitoring
Specialized Cannulas
To further increase the ease of usage and make room for more medical procedures, specialized IV cannulas are being developed. These are used mainly for
- Surgical procedures
- Patients who have medical complications
- Radiological tests
Leading Exporting Regions
Several countries only have suppliers for devices like IV Cannula. This is because most manufacturers of IV Cannulas and other single use medical devices are located in North America or the Asia Pacific.
Asia-Pacific
With its low labor costs and high availability, along with a stable market base, the Asia Pacific region is the leading manufacturer of medical equipment. This is not only limited to implants. It also extends to single use medical devices like IV catheters.
Usage Patterns
Along with the more common use of blood transfusion and IV fluid infusion, Asia Pacific has seen a rise in other specialized uses. This is due to:
- Medical tourism due to available affordable treatment plans
- Specialized procedures like
- Radiological tests
- Dialysis
- Cardiological treatments
Key Exporters
Almost all major players of the medical device industry either have a branch in the Asia Pacific or a manufacturing unit. Some of the major exporters are:
- LARS Medicare
A leading brand in South East Asian market who design high quality medical devices and disposables.
- Website: http://larsmedicare.com/
- Contact: +91 9910014706
- E-mail: sales@larsmedicare.com
- B Braun Malaysia
Based out of Penang (Malaysia), they are global brand producing quality medical equipment.
- Website: https://www.bbraun.com.my/
- Contact: +60 3-7841-4200
- Denex International
They manufacture a wide range of medical disposables, prioritizing patient well-being.
- Website: https://www.ivcannula.com/
- Contact: +91 124 411 5465
Why Are They Dominating the Industry?
Asia Pacific region has turned into the market lead as manufacturers. This is attributed to:
- Healthcare MNCs operating their manufacturing units here.
- Low labour costs
- Flexible labour laws
- Keeping up with industry standards
- Cheaper utilities leading to cost-effective manufacturing
North America
There are a large of IV cannula manufacturing companies are based out of North America. These companies have manufacturing units all over the world, primarily in countries with available labor. However, they maintain the global standards for manufacturing.
Companies based out of North America mostly manufacture single use IV cannulas for use in their own countries. Additionally, some engage in exports to supplement their and grow their client base.
Usage Patterns
The most in-demand gauges are 14G – 26G. For people with delicate veins, geriatrics and infants, 24G and 26G are used. 14G cannulas are used when quick infusion is required.
Common uses for IV cannulas in the US are administering:
- Drugs
- IV fluids
- Radiological contrast agents
- Blood transfusions
- Blood sampling
Key Exporters
While there are many players in the market for single use medical devices, a few major companies dominate the market. Namely, they are:
- B Braun Medical
Operating out of Pennsylvania, they are a leading healthcare service provider, creating both medical devices and pharmaceutical products.
- Website: https://www.bbraunusa.com/
- Contact: +1 800-523-9676
- E-Mail: medinfo.us@bbraunusa.com
- ICU Medical
Under the ICU Medical Sales, Inc, they create high quality IV catheters for healthcare workers
- Website: https://www.icumed.com/
- Contact: (800) 824-7890
- Lineus Medical
They aim to improve patient care by manufacturing affordable medical disposables.
- Website: https://www.lineusmed.com/
- Contact: 1-844-LINE-SAVER (546-3728)
- E-mail: info@lineusmed.com
- Teleflex:
They are a global organization that provide high quality medical devices and technology to improve patient’s lives.
- Website: https://www.teleflex.com/
- Contact: 919-544-8000
- Email: cs@teleflex.com
Why Are They Dominating the Industry?
These brand names have taken the market lead all over the world. Their reasons are:
- Ensuring quality control
- Stable regulatory norms
- A healthy R&D culture
- Competition amongst market giants
Market Challenges and Opportunities
Just like every other industry, the export and manufacturing of medical single use devices, come with its own set of challenges.
Challenges
For any establishing any industry, regulatory compliance can be the biggest issue. Further hurdles can come in the form of
- Stiff competition from market giants,
- Establishing new supply chains
- High initial cost of overheads
Regulatory Hurdles
This can be one of the biggest problems faced by industries both new and existing.
- They vary depending on the country
- Newer laws can be implemented at any time
Non-Compliance can Lead to:
- Legal and financial penalties
- Loss of clients
- Disruptions in production
- Security breaches and lockouts
- Loss of market reputation
Competition and Market Saturation
In every industry, the market is always dominated by a few titans of that industry. This is doubly true for medical equipment manufacturers.
- Single use medical devices are manufactured by a large number of companies
- The big companies get smaller manufacturing units to make cheaper products and flood the market
- Brand names carry a huge value
- New companies have a tough time getting a foothold
While there is a growing demand for medical equipment, the market is also a little saturated with products from the larger brand names.
Supply Chain Disruptions
Establishing a new factory and shifting operations to a new location usually leads to some disruptions.
- Manufacturing can get temporarily hampered
- Inventory remaining can be insufficient
- Sudden demands cannot be met with
To counter this, a company can:
- Maintain prior sufficient inventory
- Use predictive analytics
- Keep a strict track of the production amount
- Establish new locations before shifting the base of operations
Opportunities
With improvements and innovations in the medical field, more and more opportunities are arising in the medical equipment industry.
- Developing eco-friendly products
- Research and development in the medical field
- Demand for high-quality, cost-effective products
- Huge focus on the prevention of infections
- Remote patient monitoring
When combined with an ageing population and growing lifestyle diseases, the market for IV Cannula and other devices is growing rapidly.
Emerging Markets
Currently, India and Brazil are the biggest emerging markets for IV catheters and other medical single use devices. The entire Asia Pacific region is expected to see a high growth rate for this industry.
Emerging markets are determined by:
- A surge in the number of medical procedures offered
- Developments in medical practices
- Prevalence of diseases which need a hospital stay
Innovations and Product Diversification
Continuous product development is essential to grow a business. Growth in the single use medical device industry has come in the form of:
- Better design
- Patient-friendly products
- Custom designs for patients with special needs
- Eco-friendly material
- Ultrasound guidance
- Notched needles
- Triple flash confirmation system
Which Areas Can Be Expected to Grow?
The global medical IV Cannula market is expected to grow with a CAGR of 7.3% till 2030. Even the peripheral IV Cannula market has a growth forecast of 7.2%.
Predicted Growth Areas
Market analytics have predicted a fairly high growth for the medical IV Cannula industry.
It is estimated as follows per different segments:
- IV catheters: 5.04% CAGR from 2023-2029
- Peripheral IV catheters: 7.2% CAGR from 2024-2034
- Medical cannulas: 7.3% CAGR from 2022-2030
This is driven mainly by:
- Increased preference for non-invasive procedures
- Prevalence of diseases
- Innovation in medical procedures
Growth Potential by Country
The growth of IV Cannula market varies as per the geographical locations.
- USA: 8% CAGR (2024-2030)
- India: 7.3% CAGR (2022-2030)
- China: 7% CAGR (2024 – 2034)
- Asia-Pacific: 6.7% CAGR (2024-2031)
Additionally, Europe, especially the UK, France and Germany, are going to see a marked increase in the demand for medical single use products.
Potential Technological Advancements
A few ways to improve on the IV cannula technology have already been mentioned in the article. However, there always remains a little room for potential simple technical developments.
- Quick-release mechanisms for disconnecting them easily
- Increased dwell time to avoid contamination
- Built-in extensions to reduce the risk of infection
Conclusion
If you are thinking that the market for single use medical devices, especially IV Cannula is already saturated, think again. With evolving times and population pressure, newer avenues are opening up for medical devices.
Additionally, there is a huge scope for technology-driven growth for medical IV cannula. This makes the single use medical device industry a good source of investment and opportunity.
