New York, USA, Feb. 21, 2023 (GLOBE NEWSWIRE) -- Intravenous Solutions Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Intravenous solution market Information Nutrition Type, Bag Type, Nutritional Content, End User and Region - Forecast till 2030" the market size was valued at USD 6.5 billion in 2021 and is projected to grow from USD 7 Billion in 2022 to USD 11.85 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.8% during the forecast period (2022 - 2030).
Market Competitive Landscape
The key players in the intravenous solution market are:
- Fresenius SE & Co. KGaA (Germany)
- Baxter International Inc. (US)
- Terumo Medical Corporation (Japan)
- ICU Medical, Inc. (US)
- Braun Melsungen AG (Germany)
- Grifols S.A. (Spain)
- Pfizer Inc. (US)
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 11.85 Billion |
| CAGR | 7.8% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Technique, Product, Application and End-User. |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing launches and regulatory approvals for intravenous solution injection |
| The rising prevalence of malnutrition, shorter response time and higher efficacy associated with intravenous solution therapy |
Intravenous Solutions Market Dynamics
The key factors driving the expansion of the intravenous solution market include rising chronic disease incidence and prevalence, an aging global population, and rapidly increasing healthcare spending on IV therapy treatment. The increase in the prevalence of diseases including cancer, gastrointestinal disorders, and neurological disorders, where intravenous solutions are the primary energy sources for these patients, has been credited as the main driver driving the growth of the intravenous (IV) solutions market.
The main cause of death is chronic disease. In addition, chronic disorders like cancer, diabetes, chronic liver disease, and chronic lung diseases account for seven out of ten causes of fatalities. Additionally, one of the top five chronic diseases worldwide is cancer.
Therefore, throughout the anticipated period, the market for intravenous solutions is anticipated to rise as a result of rising chronic disease prevalence and rising parenteral nutrition use by cancer patients.
The demand for intravenous injections has increased due to the rising number of cholera patients, which will aid in the market's expansion over the coming years. The market for IV solutions is expanding as a result of factors such rising infection rates, an increase in cancer cases, and rising acceptability of intravenous treatments for colorectal cancer. The intravenous (IV) solution market is expanding as a result of more product launches by major market players.
The worldwide supply chain, the accessibility of sufficient raw materials, and other items related to its usability all affect the need for IV solutions. For example, IV bags are a crucial commodity for administering IV solutions. The most seriously ill patients were given IV bags throughout the pandemic, and those who needed IV administration for hydration, medication, or nutrition were those who had no other means of care. Elective surgery was prohibited during this time. Baxter International Inc.'s business operations were damaged after Hurricane Maria devastated Puerto Rico in September 2018. (US). In July 2020, Baxter disclosed that rather of storing supplies in Puerto Rico, the company sent freshly manufactured saline bags to the US mainland right away.
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The major businesses are developing better strategies to deal with the supply chain limitations caused by the pandemic and natural disasters. ICU Medical, Inc. (US) produces IV solutions in two US facilities located in Austin, Texas and Rocky Mount, North Carolina, both of which are remote from regions that are prone to earthquakes or hurricanes. During the COVID-19 crisis, the business took action by raising safety stock to at least 12 weeks' worth. The business is committed to spending money on the increased raw material supply from its suppliers.
The WHO estimates that 1.3 to 1.4 million cholera cases and 21,000 to 143,000 cholera-related deaths occurred globally in 2019.
Additionally, as of September 6, 2020, the Cox's Bazar in Bangladesh had 87,915 cases of acute watery diarrhoea (AWD), according to the European Center for Disease Control (ECDC). AWD instances have increased by 7,763 as a result. Therefore, the need for intravenous solutions has increased due to the rising number of cholera patients, fueling the growth of the worldwide intravenous solutions market throughout the course of the forecast period.
The use of intravenous vitamin C treatments for colorectal cancer is becoming more widespread. Laboratory research has shown that large doses of vitamin C may inhibit the growth and metastasis of prostate, pancreatic, liver, colon, and other types of cancer cells.
One of the first scientists to identify vitamin C's numerous potential applications in contemporary medicine, including its efficacy as an intravenous treatment for cancer and other serious illnesses, was the late Nobel Prize winner Linus Pauling. Thus, it is anticipated that throughout the forecast period, the market for intravenous solutions would rise due to the rising acceptability of vitamin C treatment for colorectal cancer.
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Intravenous Solutions Market Segmental Analysis
The market for intravenous (IV) solutions has been segmented based on end user, bag type, nutrition type, and nutritional content.
Peripheral parenteral nutrition and complete parenteral nutrition are the two segments of the intravenous (IV) solutions market based on nutritiontype.
The market for intravenous (IV) solutions has been divided into big volume bags (>250 ml) and small volume bags (250 ml) based on bag type.
The market for intravenous (IV) solutions has been divided into categories for amino acid solution, carbohydrates, vitamins & minerals, parenteral lipid emulsion, and others based on nutritional content.
The market for intravenous (IV) solutions is divided into three segments based on end user: hospitals & clinics, ambulatory surgery centres, and home care.
Intravenous Solutions Market Regional Analysis
The intravenous solutions market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
Due to the presence of large manufacturers and the rising strategic decisions made by manufacturers in the region, North America is projected to dominate the market for intravenous (IV) solutions.
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The market for intravenous (IV) solutions in this region is expanding due to the rising number of patients with chronic conditions. The market for intravenous (IV) solutions is expanding as a result of the existence of significant industry players in the area. For instance, ICU Medical, Inc. and Scripps Health (US) announced in April 2019 that they had signed a long-term purchasing deal that covered the whole line of intravenous solutions, consumables, infusion systems, and software offered by ICU Medical. The market for intravenous (IV) solutions is expanding because Baxter, one of the main producers in this sector, generates more than a million units daily.
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