The Australia IV Equipments market is expected to reach market size of more than USD 350 Million by 2028.
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Australia, like many developed nations, has an aging population. With an increasing number of elderly individuals, there is a higher prevalence of chronic diseases and conditions that may require intravenous therapies. IV equipment is crucial in delivering medications and fluids for the management of these health issues. The prevalence of chronic diseases, such as diabetes, cardiovascular diseases, and cancer, is on the rise in Australia. Many of these conditions often necessitate long-term treatments, including intravenous therapies, driving the demand for IV equipment. With advancements in cancer treatments, there is an increasing use of chemotherapy and other intravenous therapies for cancer patients. The demand for IV equipment in oncology units and infusion centers is consequently on the rise. The experience of global public health emergencies, including the COVID-19 pandemic, has underscored the importance of a well-equipped healthcare system. IV equipment is crucial for various aspects of patient care, including fluid resuscitation and supportive therapies during emergencies. Lifestyle-related health conditions, such as diabetes and cardiovascular diseases, are on the rise globally. IV equipment is frequently used in the management of these conditions, contributing to sustained demand. Australia's healthcare system is increasingly moving toward value-based care models, where the emphasis is on achieving better patient outcomes and experiences. IV equipment that aligns with value-based care principles, including cost-effectiveness and improved patient outcomes, is likely to see increased adoption. Government initiatives promoting the adoption of advanced medical technologies in healthcare facilities can drive the demand for modern IV equipment. Funding programs or incentives aimed at upgrading healthcare infrastructure may lead to the acquisition of state-of-the-art IV devices.
According to the research report "Australia Intravenous (IV) Equipments Market Overview, 2028," published by Bonafide Research, the Australia IV Equipments market is expected to reach market size of more than USD 350 Million by 2028. Patient safety remains a top priority in Australia's healthcare system. IV equipment with enhanced safety features, such as dose error reduction systems (DERS) and alarms to prevent medication errors, is gaining importance. The emphasis on reducing adverse events and enhancing overall patient safety is influencing the design and functionality of IV devices. The expansion of ambulatory care services, including day surgery centers and outpatient clinics, has implications for the use of IV equipment. Compact and portable IV devices that cater to the needs of ambulatory care settings are becoming more relevant. The use of Closed System Transfer Devices (CSTDs) is increasing, particularly in the administration of hazardous drugs. These devices help minimize the risk of drug exposure to healthcare workers and patients during the handling and administration of certain medications. The use of peripheral intravenous catheters is on the rise. These catheters are commonly used for short-term IV therapy and are favored for their ease of insertion. On-going improvements in PIVC design and materials contribute to patient comfort and safety. Improvements in alarm systems on infusion pumps and IV equipment aim to alert healthcare providers to potential issues promptly. Advanced alarm features help in preventing and addressing situations such as occlusions, air in the line, or other infusion-related problems. The integration of Radio-Frequency Identification (RFID) technology is a trend in IV equipment. RFID tags on IV bags and equipment enable efficient tracking of medication administration, helping to reduce errors and streamline inventory management.
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