The most recent study conducted by Report Ocean, titled “Global Intravenous (IV) Disinfecting Caps Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Intravenous (IV) Disinfecting Caps . The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Intravenous (IV) Disinfecting Caps Market to reach USD $ billion by 2027.Global Intravenous (IV) Disinfecting Caps Market is valued approximately USD $ billion in 2020 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2021-2027. Intravenous (IV) Disinfecting Caps acts as a source of Continuous passive disinfection and prevents contamination and bloodstream infection. Disinfecting IV caps contain an antiseptic barrier that provides continuous disinfection. Growing prevalence of chronic disease and rising disorders that lead to surgery are key drivers for the growth of Intravenous (IV) Disinfecting Caps market.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
According to an article from United Nations (UN) by the year 2030, the proportion of total global deaths due to chronic diseases is estimated to increase to 70 per cent and the global burden of disease is expected to increase to 56 per cent. The greatest increase is projected in the African and Eastern Mediterranean regions. Also, according to American Cancer Society by 2040, new cancer cases are expected to grow to 27.5 million globally from 17.0 million in 2018 and cancer deaths to reach to 16.3 million from 9.5 million in 2018.
This rise would be primarily due to the growth and aging of the population. Also, with the increasing precautions and sanitization measures and rising need for Parenteral nutrition aids, the adoption & demand for Intravenous (IV) Disinfecting Caps is likely to increase the market growth during the forecast period. However, supply chain disruption of Intravenous (IV) Disinfecting Caps due to covid 19 pandemic impedes the growth of the market over the forecast period of 2021-2027.
The key regions considered for the global Intravenous (IV) Disinfecting Caps market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to rising R&D and technological advancement in the region. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2021-2027. Factors such rising incidence of healthcare-associated diseases and growing awareness for sanitization in the region would create lucrative growth prospects for the Intravenous (IV) Disinfecting Caps market across Asia-Pacific region.
Major market player included in this report are:
Kisico
Phenomenome Discoveries Inc.
Human Metabolome Technologies, Inc.
Thermo Fisher Scientific, Inc.,
Bio- Rad Laboratories, Inc.
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Biocrates Life Sciences AG
Agilent Technologies, Inc
Merit Medical
BD
3M
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Single Cap
Double Cap
By Application:
Blood Collection,
Blood Transfusion,
Infusion,
Others
By Distribution Channel:
Retail Distributors
Non-Retail Distributors
By End-user:
Hospitals,
Clinics,
Diagnostic Centre,
Others
By Region:
North America
U.S.
Canada
Europe
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UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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