IV Disinfecting Caps Market Trends

Growth Drivers

• Growing Health Awareness – On account of the rising consciousness of the value of maintaining good health, the market is expected to expand more in the upcoming years. In India, over 90% of people are concerned about the health of their family, compared to around 80% globally.

• Rising Geriatric Population – The Elderly population is more prone to infectious diseases owing to weakened immune systems and the rising number of elderly populations across the globe is estimated to drive market growth. By 2060, the number of Americans aged 65 and above is expected to increase by more than 90 million.

• Increasing Health Spending – The use of IV disinfectant caps is projected to rise as healthcare facilities are allocating more funds to quality of care and infection control procedures. According to the most recent expenditure data, global health spending has grown over the past 20 years, doubling in real terms to reach USD 8.5 trillion in 2019 and 9.8% of GDP, up from 8.5 percent in 2000. It is predicted that this boom would continue over the forecast period.

• Growing Concern for Hygiene - It is expected that the demand for IV disinfectant caps has increased as a result of rising hygiene awareness. As people are becoming more conscious of the value of hygiene, the market is expected to expand more in the upcoming years. It was discovered that in 2020, more than 65% of people use basic hygiene services globally.

Challenges

• Risk of Not Securing the Sterile Cap- The increasing concern amongst individuals for not securing the sterile cap in IV disinfectant caps is one of the major factors predicted to slow down the market growth. For instance, the purpose of the sterile cap is to function as a barrier against bacteria, viruses, and other germs and keep them out of the IV line. The IV line may become infected if the cap is not well fastened.
• Lack of Knowledge regarding the Use of Disinfectant Caps in Developing Nations
• Availability of Substitutes