IV Tubing Sets and Accessories Market Future Technological Trends and Business Opportunities By 2027

New York City, 2 Nov 2020: The global IV tubing sets and accessories market size is expected to reach USD 1,153.6 million by 2027 according to a new study by Polaris Market Research. IV tubing sets and accessories basically include different parts namely, infusion line, piercing needle, flow regulator, and luer connector attached with IV tube and the needle. These set are often known as intravenous therapy, designed to administer hydrating fluid, drug, medication directly into the circulatory system. Infusion supplies should be sterile disposable single time use products.

Most of the insulin pumps require infusion set to administer insulin into diabetic patients. Flexible tube connects pump reservoir, moving insulin from pump to needle beneath your skin. The selection of the infusion set often decided on the basis of pump compatibility with other accessories, needle insertion angle, gauge and length of cannula, and tube size.

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European market saw a large set of these apparatus procured through group purchasing organizations in volumes at the reduced prices. In China, the market is expected to surpass Europe owing to dramatic entry of 800 million new people through its nationwide universal insurance system.

The global market is driven by a rise in chronic ailments such as cardiac disorders and diabetes, a sudden surge in infectious diseases, an increasing proportion of geriatrics using home-based infusion therapies. According to the International Diabetes Federation (IDF), the number of people suffering from diabetes were 415 million in 2015, which is expected to reach approximately 640 million by 2040.

Market participants such as Baxter International Inc., Becton, Dickinson and Company (CareFusion), Perfect Medical Ind. Co., Ltd, Hospira Inc. (Pfizer Inc.), B. Braun Melsungen AG, Smiths Medical, Fresenius Kabi, C.R. Bard, Inc., Zyno Medical, ICU Medical Inc., Nipro Corporation, Vygon, Poly Medicure, Health Line International Corporation, and Dynarex Corporation are some of the key players operating in the concerned market.

New and existing players are focusing on product innovation and new launches inclined towards dedicated therapy. The U.S. based medical start-up DiaTech Diabetic Technologies announced to launch SmartFusion technology based infusion set, which alerts diabetics with errors on real time basis. This has thumb sized fluid pressure sensing device for insulin pumps to monitor errors in the insulin delivery and sends signals to physicians through Bluetooth connection. According to the company’s claim globally, more than 120 million infusion sets are sold and it is estimated that around 60 per cent insulin pumps experience set failures, resulting in loss of USD 426 million of annual wastage from un-viable sites.

Read More: https://www.polarismarketresearch.com/industry-analysis/iv-tubing-sets-accessories-market