The IV dressing market comprises products such as transparent dressings, films, and foams that are used to protect and secure intravenous (IV) catheter sites and access points. IV dressings provide several advantages such as preventing infection, securing the catheter in place, and offering visibility of the insertion site. With the rising prevalence of chronic medical conditions globally, the usage of IV therapy has increased significantly over the years for delivering medicines, nutrients, transfusions, and other treatments directly into the veins. This growing requirement for IV administration of drugs and fluids is prompting higher demand for IV dressings for dressing and securing IV catheter sites.

The global IV dressing market is estimated to be valued at US$ 915.5 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period of 2024 to 2030.

Key Takeaways

Key players operating in the IV dressing market are CLAAS Group, Deere & Company, Mahindra & Mahindra Limited, CNH Industrial, Kubota Corporation, Massey Ferguson Limited, TAFE, Iseki & Co. Ltd., JCB, and Yanmar Co. The major players are focusing on new product launches and geographical expansion strategies to strengthen their global presence. For instance, in 2020, 3M launched a Tegaderm IV Advanced Securement Dressing with Mepilex Border which aids in protection against infection and provides comfort by reducing tape-related trauma to the skin.

The rising prevalence of chronic diseases is presenting significant growth opportunities for players in the IV dressing market. According to the Centers for Disease Control and Prevention, around 6 in 10 adults in the US have been diagnosed with at least one chronic disease. Further, chronic diseases also account for most hospital stays and healthcare expenditures globally. The growing burden of chronic conditions will continue augmenting the demand for IV administration of drugs and use of IV dressings.

The key players are also expanding their manufacturing facilities and distribution networks globally which is allowing greater access to IV dressings in international markets. For example, in 2019, Mölnlycke Health Care opened a new production facility in Guatemala to boost availability of its IV dressings and other wound care products in Latin American countries. This expansion strategy by manufacturers will help drive the global IV dressing market during the forecast period.

Market drivers

The rising geriatric population worldwide susceptible to chronic medical conditions is a key factor augmenting the IV dressing market growth. As per the UN data, the number of people aged 65 years and above is projected to reach 1.5 billion in 2050 from 727 million in 2019. With age comes higher risks of health issues requiring IV therapy and dressings. Additionally, technological advancements resulting in improved designs of IV dressings providing better protection, visibility, and comfort at the insertion site will also fuel the market expansion through 2030.

Market restraints

However, the growth of this market may be limited to some extent by the risks associated with peripheral IV therapy such as infection, infiltration, extravasation and phlebitis at the catheter site which can delay healing. The COVID-19 pandemic has also led to temporary shortage of medical supplies including certain Global IV Dressing Market Demand due to disruptions in production and transportation. This has compelled healthcare facilities to limit use of IV therapy and dressings only for critical cases.

Segment Analysis

This market can be segmented by product, type, application, end use and region. By product, transparent dressing is the dominating sub segment holding around 40% market share owing to its ease of use and visibility for inspection of wounds. By type, traditional gauze dressings hold the major share currently however advanced dressings such as hydrocolloid, film and foam dressings are growing at a faster pace due to better absorption and moisture retention properties aiding faster healing. The hospital segment dominates current end use due to higher number of surgeries however retail pharmacies and online channels are emerging strong owing to easier product availability and access.

Global Analysis

North America dominates currently with over 30% value share led by developed healthcare infrastructure and rising cases of chronic wounds. Asia Pacific is projected to witness fastest gains at a CAGR of around 8% during the forecast period. This can be attributed to growing medical tourism, increasing healthcare spending in China and India, rising incidence of diabetes and related conditions in the region.

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