The global measured volume burette set market size was valued at USD 469.10 Billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.5% from 2023 to 2032.
Report Scope of the Measured Volume Burette Set Market:
|Market Size in 2022||USD 469.10 billion|
|Revenue Forecast by 2032||USD 966.83 billion|
|Growth rate from 2023 to 2032||7.5%|
|Report coverage||Revenue forecast, company share, competitive landscape, growth factors & trends|
The key factors contributing to the market growth include the rising geriatric population, increasing incidence of chronic diseases, and rising demand for measure volume burette sets. Furthermore, the growing volume of surgical procedures across the globe drives the demand of the market. For instance, according to an article published by NIH in 2020, 310 million major surgeries are conducted every year; around 40 to 50 million in the U.S. and 20 million in Europe. The Covid-19 pandemic initially negatively impacted the market due to the supply chain & logistics being halted due to lockdown imposed by the government. However, there was also an increase in the demand for infusion devices to treat critically ill patients. This had led to a slight increase in market demand for measured volume burette set market. In addition, there was a rise in research practices which contributed to higher adoptions of this device in research and diagnostic laboratories.
For precise drug measurement in critical and pediatric/neonatal care, measured volume burette sets are infusion devices with a clear, flexible, and calibrated measured volume chamber. The increasing prevalence of neonatal, pediatric, and cardiac diseases, the rising need for accurate infusions for high-risk medications, and the increasing focus on patient safety are expected to boost the market growth.
Measured volume burettes into fusion sets are used in different settings such as hospitals, healthcare clinics, and laboratories. These volumetric I.V. burette sets have a metered cylinder that enables precise administration of a predetermined amount of solution, making them indispensable for treating certain patients, such as pediatric patients.
Key Companies & Market Share Insights
Key Market players are undertaking various strategic initiatives such as the signing of the new partnership agreement, collaborations, mergers and acquisitions, and geographic expansion, aiming to strengthen their products, thus providing a competitive advantage. For instance, in October 2019, B. Braun Medical Inc. announced the collaboration with Stanley’s healthcare software for the deployment & integration of their infusion pump system. This collaboration between the two companies follows healthcare enterprise (IHE) standards and would provide combined solutions including a bi-directional interface to design & improve patient safety and increase staff efficiency. Some prominent players in the global measured volume burette set market include:
Measured Volume Burette Set Market Report Segmentation:
Ambulatory Surgical Centers