NEWARK, Del, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The global IV pole market is set to experience substantial growth over the next decade, driven by a projected worth of USD 256.5 million in 2024 and an estimated compound annual growth rate (CAGR) of 3.5% from 2024 to 2034. Industry analysts predict that the market will reach a valuation of USD 361.0 million by 2034, underscoring a burgeoning demand for IV poles worldwide.
The increasing need for IV poles is closely tied to the rising volume of hospital admissions globally. Factors contributing to this demand include a growing patient population seeking medical treatment for conditions such as cancer, chronic illnesses, and emergency situations like road accidents. IV poles play a crucial role in delivering essential fluids and medications to patients, thereby facilitating efficient and effective healthcare delivery.
IV poles play a crucial role in facilitating emergency treatment and ensuring the safe and efficient administration of intravenous fluids and medications to patients. As hospitals continue to witness an influx of admissions, the demand for IV poles is expected to escalate correspondingly.
Key market players are actively investing in research and development initiatives to introduce innovative IV pole designs that enhance patient comfort, improve mobility, and streamline clinical workflows. Furthermore, strategic collaborations and partnerships are anticipated to drive market expansion and foster technological advancements in the IV pole segment.
The projected growth trajectory of the IV pole market underscores its significance in supporting the evolving healthcare landscape and meeting the evolving needs of healthcare providers and patients globally.
“IV poles with wheels are earning the approval of patients, while those with digital displays are helping doctors get a quick analysis of patient’s vitals. Thus, the inclination of producers is to keep the product line varied,” Says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
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Key Takeaways from the IV Pole Market:
- The IV pole market is expected to be valued at USD 256.5 million in 2024.
- 4 hook top poles are most commonly used in healthcare settings. The segment is expected to account for 54.4% of the market share by product.
- Stainless steel is the material most often used in IV poles. In 2024, stainless steel is expected to contribute to 61.6% of the market share by material.
- Japan is expected to be one of the leading countries in terms of market progress. The country is forecasted to have a CAGR of 4.9% from 2024 to 2034.
- China is another Asian country with the potential for market growth. Over the forecast period, the CAGR for the market is predicted to be 4.1%.
- The market in the United States is expected to progress at a CAGR of 3.5% through 2034.
Competition Analysis of the IV Pole Market:
The market’s nature is highly competitive, with plenty of room for small-scale players and new entrants to stand on their feet. Collaborations with public healthcare institutions are common.
Recent Developments in the IV Pole Market:
- In February 2022, Cardinal Health announced it would start using the Kinaxis RapidResponse platform.
- In November 2020, 3M and Safran Cabin finalized their terms on a partnership to boost sales of medical equipment.
9 Key Companies of the IV Pole Market:
- 3M Healthcare
- Medline Industries Inc.
- Cardinal Health
- Medline Industries
- Centicare Corporation
- AliMed Inc
- Mid Central Medical
- A.M.G. Medical Inc.
- Drive DeVilbiss Healthcare
Key IV Pole Market Segmentation:
By Product:
- 2 Hook Top
- 4 Hook Top
- 6 Hook Top
- 8 Hook Top
By Material:
- Stainless steel
- Chrome Plated Steel
- Others
By End User:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Nursing Homes
- Long-Term Care Centers
- Homecare Settings
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Author by:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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