by The global Intravenous Solutions Market is estimated to be valued at US$ 577228 Bn or Million in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Intravenous solutions are fluids that are delivered directly into the veins. They are used for fluid replacement, correction of electrolyte imbalance, calorie replacement, and medication delivery. Intravenous solutions help in hydration and provide nutrition to patients who are unable to eat or drink orally.
Market key trends:
One of the key trends in the intravenous solutions market is the growing preference for customizable or personalized IV solutions. Conventional IV solutions come in predetermined formulations to address common conditions. However, there is an increasing demand for IV solutions that can be tailored as per the specific needs of the patient. This has led manufacturers to offer customized IV solutions prepared on patient orders. This allows precisely mixing different electrolytes, vitamins, and minerals in desired quantities to address individual patient requirements. Customizing IV solutions helps improve clinical outcomes and recovery while avoiding harmful effects of blanket therapy.
Market Key Trends:
One of the key trends that is driving the growth of the intravenous solutions market is the increasing prevalence of chronic diseases that require fluid therapy. Chronic conditions such as cancer, diabetes, gastrointestinal disorders are on rise globally due to changing lifestyle and dietary habits. Patients undergoing treatment for these diseases regularly require intravenous fluids for hydration, nutrition, fluid balance, and drug administration. This is expected to significantly boost the demand for intravenous solutions during the forecast period.
SWOT Analysis
Strength: Growing patient pool for chronic disease treatment requiring IV therapy and broader insurance coverage for life saving IV fluids administration are positive factors.
Weakness: High costs associated with IV treatment and logistics of transporting and administering IV fluids can be challenges.
Opportunity: Emerging economies with large patient population represent huge market opportunity. New product launches catering to specific disease conditions also present new avenues of growth.
Threats: Stringent regulatory mandates and presence of alternative modes of fluid and nutrition administration pose threats to growth of IV solutions market.
Key Takeaways
The global Intravenous Solutions Market Trend is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, 2023 to 2030, due to increasing prevalence of chronic diseases. The market size for Intravenous Solutions in 2023 is estimated to be US$ 577228 Mn.
Regional analysis: North America dominates the Intravenous Solutions Market currently owing to presence of major players and advanced healthcare infrastructure. However, Asia Pacific is expected to grow at fastest pace during the forecast period driven by rising healthcare expenditure, huge patient population and increasing focus of international players towards emerging Asian markets.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
