by Intravenous solutions contain various essential electrolytes, vitamins, amino acids and other nutrients that are administered directly into the bloodstream. They are used to treat or prevent dehydration, manage fluid and electrolyte imbalances, deliver medications and provide nutrition to patients who cannot eat or absorb sufficient nutrients through the gastrointestinal tract. Common IV solutions include sodium chloride, dextrose, lactated ringer’s and amino acid solutions. They find wide application in treatment of chronic diseases, emergency medical conditions, postoperative care, gastrointestinal diseases and terminal illnesses.
The Intravenous Solutions Market is estimated to be valued at US$ 577228 Mn or in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the major drivers for the growth of intravenous solutions market is increasing prevalence of chronic and acute diseases globally. Changing lifestyle habits have significantly contributed to the rising incidence of chronic conditions like cancer, diabetes, cardiovascular diseases and gastrointestinal disorders. As per the estimations of WHO, cardiovascular diseases are the leading cause of death globally, taking an annual toll of over 17.9 million lives. Likewise, cancer burden is also growing and is projected to surpass infectious diseases by 2020. Since intravenous therapies are commonly employed in management of such conditions, their demand is witnessing steep rise. Additionally, growing geriatric population prone to age-related illnesses is another factor fueling the market growth. As per the UN report, number of elderly aged 60 years or above will nearly double by 2050 to reach around 2 billion. Propelled by the drivers, intravenous solutions market is envisaged to exhibit healthy expansion over the forecast timeframe.
Segment Analysis
The global intravenous solutions market is segmented based on solution type, therapeutic area, application, end use and region. Solution type segment includes dextrose, saline, amino acid, vitamin and others. Among these, dextrose segment dominates the market owing to its wide applications as a calorie source. Therapeutic area segment includes electrolyte replenishment, nutritional deficiency, hydration and others. Hydration segment dominates the market due to increasing prevalence of chronic diseases.
PEST Analysis
Political: The market is regulated by directives and policies related to standardization of manufacturing and quality standards set by regulatory bodies like the US FDA and European Medical Agency.
Economic: Rising healthcare spending globally is driving market growth. The availability of favourable reimbursement policies is also supporting market expansion.
Social: Growing geriatric population and rising chronic disease incidence are major social drivers. Additionally, changing lifestyle leading to nutritional deficiencies is boosting demand.
Technological: Emergence of innovative products is positively impacting the market. Companies are investing in advanced formulations and delivery modes for improved efficacy and patient compliance.
Key Takeaways
The Global Intravenous Solutions Market Size was valued at US$ 577228 Mn in 2023 and is expected to reach over US$ 1000000 Mn by 2030, expanding at a CAGR of 10% during the forecast period. Factors such as rising prevalence of chronic diseases, growing geriatric population, and increasing surgical procedures are expected to drive the market. Regionally, North America dominates the market currently owing to advanced healthcare facilities and increasing healthcare expenditure. However, Asia Pacific is anticipated to register the fastest growth over the coming years due to improving access to healthcare facilities and rising medical tourism.
Key players operating in the intravenous solutions market are Baxter International Inc., ICU Medical. Inc, B. Braun Melsungen Ag, Grifols, S.A., Fresenius Kabi USA, LLC, Vifor Pharma Management Ltd, JW Life Science, Amanta Healthcare, Axa Parenterals Ltd, and Salius Pharma Private Limited, Pfizer, Inc, Otsuka Pharmaceutical Co., Ltd, Ajinomoto Co., Inc., B. Braun Melsungen AG, Soxa Formulations & Research Pvt.Ltd, Sichuan Kelun Pharmaceutical Co Ltd. These players are focusing on new product launches and strategic collaborations to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
