Analysis of COVID-19 Crisis-driven Growth Opportunities in IV Pole Market

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4 years ago

Intravenous (IV) poles are medical supportive tools widely used in healthcare settings such as hospitals, clinics, home healthcare, and others. IV pole carry bags and deliver the necessary medications to patients. IV medication is introduced to the patient through an IV injection.

All IV pole designs contain hook at the top and wheels at the base. These designs differ by the accessories attached to them.
Different types of materials are used in the IV pole manufacturing, which include stainless steel, chrome plated steel and other materials such as Aluminum
IV pole helps provide effective infusion care through a safety hanging of IV-bottles and bags

Increase in number of hospitals, technological advancements in IV pole, and rise in healthcare expenditure are expected to help increase the growth of the IV pole market during the forecast period. Increasing number of hospitals due to rise in number of patients suffering from various types of diseases results in boost in demand for hospital beds and IV pole for IV solution administration in patients. According to a recent survey conducted by the American Hospital Association, around 6,210 hospitals are in the U.S., which include community hospitals, Federal Government Hospitals, and Nonfederal Psychiatric Hospitals.

Increase in number of hospitals in countries such as China, India, and Brazil leads to increase in demand for IV pole in the treatment of patients. According to recent study, more than 19,000 hospitals are present in China and around 38,000 hospitals present in India. Hence, increase in number of hospitals globally is expected to create a good opportunity to IV pole manufacturers.
Increase in healthcare expenditure in most of the developed countries is expected to drive the revenue growth of the global IV pole market. Increasing healthcare spending is expected to directly impact the need for better hospital infrastructure, which, in turn, is expected to create high growth opportunities for players in the global IV pole market over the forecast period. According World Health Organization (WHO), in 2018, about US$ 3,600.0 per capita was spent on health expenditure in the U.S.

Based on product type, the global IV pole market can be segmented into 2 hook top, 4 hook top, 6 hook top, and 8 hook top IV pole
The 4 hook top segment accounted for the highest share of the IV pole market in 2019. This segment is expected to dominate the IV pole market due to increasing demand for 4 hook top IV pole from hospitals and other end-users.

In terms of material, the global IV pole market can be divided into stainless steel, chrome plated steel, and others
The stainless steel segment generated the highest revenue in 2019 and is anticipated to witness growth during the forecast period. This can be attributed to launch of new stainless steel containing IV poles from major manufacturer and increasing preference for stainless steel IV pole.

In terms of end-user, the global IV pole market can be divided into hospitals, clinics, ambulatory surgical centers, nursing homes, long term care centers, and homecare settings. The hospitals segment generated the highest revenue in 2019 and is anticipated to witness growth during the forecast period due to increasing number of hospitals in emerging counters such as India and China.

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In terms of region, the global IV pole market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Europe dominated the global IV pole market in 2019 and is expected to maintain its leading position during the forecast period. High number of hospital beds with IV pole and presence of major manufacturers is likely to increase the growth of the IV pole market in Europe.
The market in Asia Pacific is projected to register highest growth during the forecast period, owing to increase in adoption of new products and rise in demand for IV pole in emerging countries such as India and China

The global IV pole market was highly fragmented in 2019. Key manufacturers operating in the global market are:

IV Pole Market: Research Scope

IV Pole Market, by Product Type

IV Pole Market, by Material

IV Pole Market, by End-user

IV Pole Market, by Region

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa