New York, US, July 20, 2021 (GLOBE NEWSWIRE) -- Intravenous (IV) Solutions Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Intravenous (IV) Solutions Market Information by Nutrition Type, Bag Type, Nutritional Content, End User, and Region - Forecast till 2028”, the market is expected to grow at a significant CAGR of 7.69% from 2021 to 2028.
Market Scope:
The market scope in the report offers a detailed framework of the IV solutions market, outlining major segments, names of the leading vendors, as well as the anticipated growth rate during the analysis period.
Primary Growth Boosters:
Escalating cases of diseases like neurological disorder, diabetes, gastrointestinal disorder, and cancer, have fostered the growth of the intravenous solutions industry. The Centers for Disease Control and Prevention (CDC) reveals that close to 35.2 million Americans were affected by diabetes in 2020, which accounts for roughly 11.5% of the total population in the country. Diabetes leads to malnourishment among elderly patients, which pushes the need for intravenous solution for replenishment. Hence, the significant burden of diabetes worldwide could generate significant demand for the intravenous solutions market in the next few years.
The American Cancer Society estimates that close to 15,620 new cases of laryngeal cancer can be recorded in 2021, with around 5,770 people expected to lose their lives in the United States. Patients affected by cancer of any type are extremely dependent on intravenous solutions given their inability to eat properly. This factor could emerge as a chief growth booster for the intravenous solutions industry in the following years.
Furthermore, diarrhea is quite prevalent across tropical regions with humid climates, causing fluid depletion. This results in a significant need for IV solutions, to compensate for the fluid lost by the patient. Every year, more than a billion children face diarrheal disease, with majority of the premature babies needing nutrition via IV solutions. Over the years, there has been a steady surge in the preterm birth rate. In 2020, preterm birth claimed 1 out of every 10 lives in the United States. As IV solutions have proteins, electrolytes, and calories, they are used extensively to keep the infant nourished till complete recovery. As a result, with the rapid surge in premature births worldwide, it is presumed that IV solutions will experience rampant demand in the ensuing years.
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Competitive Landscape:
The Major Vendors in the Global Intravenous Solutions Market are:
- Baxter International Inc. (US)
- Fresenius SE & Co. KGaA (Germany)
- Braun Melsungen AG (Germany)
- ICU Medical, Inc. (US)
- Pfizer Inc. (US)
- Grifols S.A. (Spain)
- Terumo Medical Corporation (Japan)
Most of these companies aim to widen their geographical reach and introduce newer, more advanced solutions via numerous strategies that include product launches, collaborations, and partnerships.
Market Restraints:
Less number of suppliers leading to shortage of intravenous solutions could slow down the market growth rate in a few countries.
Browse In-depth Market Research Report (137 Pages) on Intravenous (IV) Solutions: https://www.marketresearchfuture.com/reports/intravenous-solution-market-1235
COVID-19 Analysis
The COVID-19 pandemic’s impact on the healthcare sector has been brutal, with manufacturing facilities shut down and product demand witnessing a drop worldwide. With the main focus of healthcare on finding a vaccine for SARS-CoV-2, other areas had to take the backseat.
However, the pandemic has somewhat given a boost to the demand for intravenous solutions. The World Health Organization recommends intravenous fluids for novel coronavirus patients dealing with respiratory failure, which should help keep the momentum of the global market steady throughout the analysis timeline.
Market Segmentation
IV solutions industry can be divided with respect to nutrition type, bag type, nutritional content, and end user.
The nutrition types covered in the report are peripheral parenteral nutrition as well as total parenteral nutrition.
The bag types studied are large volume bags (>250 ml) along with small volume bags (<250 ml).
Depending on nutritional content, the IV solutions market caters to carbohydrates, amino acid solution, parenteral lipid emulsion, vitamins & minerals, and others.
The major end users are hospital & clinics, home care, and ambulatory surgical centers.
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Regional Analysis:
North America has been racing ahead of other regions in the global industry, amassing a striking valuation of USD 3,769.00 million in 2020. The North American market could also experience growth at a rate of 7.94% between 2021 and 2028. Strong base of world-renowned players in the region and the expanding elderly population affected by various chronic diseases are responsible for the stunning market growth. Another encouraging factor can be teg presence of a well-developed and high-quality healthcare infrastructure and accessibility to medical facilities in the region.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.