According to the research report titled ‘IV Tubing Sets and Accessories Market Share, Size, Trends, Industry Analysis Report, By Product Type ; By Application; By End Use ; By Age Group, By Regions; Segment Forecast, 2020 -2027’, available with Market Study Report, global IV tubing sets and accessories market is anticipated to register a healthy growth during 2020-2027 and amass USD 1,153.6 million by the end of the forecast duration.
 

Industry experts claim that upsurge in the cases of chronic disorders such as diabetes and CVDs is boosting global IV tubing sets and accessories market growth. In fact, approximately 415 million active cases of diabetes were recorded in 2015, and the number of affected individuals is expected to reach 650 million by 2024, according to International Diabetes Federation.
 

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In addition, spike in occurrences of contagious diseases, and preference for home-based infusion therapies among the booming geriatric population are other major factors contributing to the industry expansion. However, risk of infections due to these devices is negatively impacting worldwide IV tubing sets and accessories industry outlook.
 

For the uninitiated, IV tubing sets and accessories comprise of various products namely, infusion line, flow regulator, piercing needle, and luer connector that is attached with IV tube and the needle. These sets and accessories fall under intravenous therapy, and are specifically designed to administer drugs, hydrating fluid, and medication directly into the circulatory system. Hence, the necessity of these products for patients who cannot consume water or food by mouth will continue to support global IV tubing sets and accessories business landscape.
 

Considering the geographical landscape, IV tubing sets and accessories market in Europe is recording strong growth, driven by bulk procurement of the products at reduced prices by group purchasing organizations (GPOs). Whereas, APAC market is anticipated to garner substantial returns by the year 2027, with China at the forefront. The induction of 800 million new people into the nationwide universal insurance program is rendering a positive outlook for the industry expansion in China.
 

Key players influencing global IV tubing sets and accessories market trends are Dynarex Corporation, ICU Medical Inc., Zyno Medical LLC, C.R. Bard Inc., Fresenius Kabi, Smiths Medical Inc., B. Braun Melsungen AG, Hospira Inc. (Pfizer Inc.), Perfect Medical Ind. Co. Ltd., Becton, Dickinson and Company, and Baxter International Inc.