IV poles with wheels are increasing in popularity as patients desire to not be confined to a single bed, and doctors are emphasizing fitness even for patients afflicted with serious diseases.
The global IV pole marketis expected to be worth US$ 256.5million in 2024. The progress of the market is anticipated to record a CAGR of 3.5% from 2024 to 2034. The valuation of the IV pole market is forecasted to reach US$ 361.0 million by 2034.
The demand for IV poles is growing as the number of patients getting admitted to hospitals is increasing. A myriad of reasons are stimulating hospital admittance rates, including an increasing number of cancer cases and chronic conditions. Road accidents and other emergencies also drive the demand for the product, as IV poles play a critical role in emergency treatment.
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The number of new afflictions plaguing the population is increasing. As such, medical professionals are required to act quickly on their feet and administer treatment, with IV poles helping them to do so. Another factor influencing the growth of the market is the considerable geriatric population.
There are hindrances in the path of the market, however. Public hospitals are facing issues with funding, impeding their ability to buy medical equipment like IV poles. There is also hesitation about the material used in IV poles, as steel has the propensity to corrode and expose patients to more risk.
“IV poles with wheels are earning the approval of patients, while those with digital displays are helping doctors get a quick analysis of patients’ vitals. Thus, the inclination of producers is to keep the product line varied,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
Key Takeaways from the IV Pole Market:
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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. Some of the prominent companies in the market include 3M Healthcare, Medline Industries Inc., Cardinal Health, and Medline Industries.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market.
Feb 08, 2024