IV Fluid Monitoring Devices Market size is estimated to cross USD 11 Billion by the end of 2036, expanding around 8% CAGR during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of IV fluid monitoring devices was USD 5 Billion. The major element to influences the market expansion is the growing prevalence of hospital-acquired infection. In 2022, it was estimated by WHO that, at least one healthcare-associated infection (HAI) will be acquired by seven patients in high-income nations and fifteen patients in low- and middle-income countries out of every 100 patients in acute-care hospitals during their hospital stay. Approximately 10% of impacted patients will pass away due to their HAI. Hence, the market revenue for IV fluid monitoring devices is set to increase in order to reduce hospital acquired infection.
Additionally, the majority of pharmaceutical and medical device companies have focused on integrating cutting-edge technologies into infusion systems in order to enhance the efficacy, safety, and efficiency of drugs while decreasing the possibility of unfavorable reactions brought on by an overdose or underdose. Therefore, this factor is also set to drive the IV fluid monitoring devices market expansion.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~8% |
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Base Year Market Size (2023) |
~ USD 5 Billion |
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Forecast Year Market Size (2036) |
~ USD 11 Billion |
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Regional Scope |
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End-User (Hospitals & Clinics, ASCs, Home Care)
The hospitals & clinics segment in the IV fluid monitoring devices market is set to gather the highest share of over 50% during the forecast period. Due to the availability of better patient care, convenient appointment rescheduling, and beneficial reimbursement scenarios, a large number of persons in this category are receiving treatment in clinics. Clinic visits from patients are on the rise. Moreover, for instance, In the United States, there were over 1,999 mobile clinics operating in 2021, providing care for an estimated over 6 million at-risk people annually. Hospitals that work with clinics have so evolved into hospital-based healthcare providers. Compared with clinics, hospitals are reimbursed less. Hence, there has been growing collaboration between hospitals & clinics. Furthermore, large hospitals, including hospital groups and multispecialty hospitals, are either privately owned or sponsored by the government. These hospitals can accommodate patients within a region since they have a larger number of hospital beds.
Type (Desktop, Portable)
IV fluid monitoring devices market from the desktop segment is set to gather the highest revenue share of about 60% by 2036. This is because desktop IV fluid monitoring devices could be used to carry out huge tasks as compared to portable devices. Desktop drives are better suited for large-scale, professional applications because they put lifespan, security, and dependability above portability. Furthermore, even though portable devices are making their space in the market, people’s preference for desktop-based devices is high due to the amount of reliability they provide. Furthermore, investment has been made in improving the desktop system which is further attracting more revenue in the market.
Our in-depth analysis of the global IV fluid monitoring devices market includes the following segments:
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End-User |
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Type |
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North American Market Forecasts
The North America IV fluid monitoring devices market is estimated to rise at a share of about 30% during the forecast period. This growth of the market in this region is set to be dominated by rising prevalence of chronic disease. One or more chronic illnesses, such as diabetes, cancer, heart disease, or stroke, affect six out of ten Americans. Furthermore, the technology is in this region is getting smarter. This is since, the biggest issues in hospitals are medication mistakes. Numerous guidelines and reports are created for numerous organizations and governments in an effort to prevent drug mishaps. As a result, the adoption of medical robotics is growing in this segment. By decreasing the amount of time, they need to spend preparing drugs, the new robotic technology enables nurses and chemists to spend their time more productively. Since incorrect dose applications can be followed up with the right preparation of the dose, the created communication server prevents leakage losses that result in financial losses.
European Market Analysis
The IV fluid monitoring devices market in Europe is also projected to have notable growth over the coming years. Most Europeans place a high value on their health and anticipate receiving quality medical treatment. Moreover, integrated models, in which hospitals collaborate closely with primary care, community care, and home care, have already replaced the conventional hospital-centric and doctor-centric patterns of care in the majority of health systems in this region. Hence, further long hospital stays and significant healthcare costs are avoided when managing chronic diseases with home infusion therapy devices, that offer safe, precise, and precise drug delivery based on the patient's demands. The IV fluid monitoring devices market is expanding as a result of the increasing number of home-care infusion pumps having wireless and remote programming capabilities. These characteristics enable chemists and clinicians to monitor and establish pharmaceutical dose settings and reduce the frequency of hospital visits.
Author Credits: Radhika Gupta, Shivam Bhutani
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