by The Intravenous Solutions Market is estimated to be valued at US$ 577228 Mn 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 refer to sterile fluids administered directly into the vein. They are used for fluid maintenance and medication administration in both hospital and home care settings. Common types of intravenous solutions include normal saline, dextrose solutions, amino acid solutions, lipid emulsions, and blended solutions. They are broadly categorized into crystalloids, colloids, and drugs or medication solutions based on composition. Intravenous solutions containing electrolytes, vitamins, and minerals help replace fluid loss and maintain electrolyte balance in the body.
Market Dynamics:
The growth of the intravenous solutions market is driven by factors such as rising prevalence of chronic diseases, increasing number of surgical procedures, and growing geriatric population. According to WHO, chronic diseases accounted for approximately 60% of all reported deaths in 2020. Cardiovascular diseases, cancer, respiratory diseases, and diabetes were the leading causes of mortality. Intravenous solutions are widely used in disease management and post-surgical care, thereby driving their demand. Additionally, the rising focus on parenteral nutrition to address malnutrition is also expected to support market growth over the forecast period.
Segment Analysis
The intravenous solutions market is dominated by the crystalline solutions segment owing to its high accuracy and reproducibility. Crystalline solutions offer advantages such as isotonicity, chemically defined formulation, and superior stability over other segments.
PEST Analysis
Political: The market is governed by stringent regulations around drug development and approval processes. Favorable reimbursement policies are boosting market growth.
Economic: Rising healthcare spending coupled with growing geriatric population prone to chronic diseases is fueling market expansion.
Social: Increasing incidence of chronic and acute conditionsnecessitating intravenous treatment is a key driver.
Technological: Adoption of advanced infusion systems and pump technologies is improving treatment outcomes.
Key Takeaways
The global Intravenous Solutions Market Trend is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing prevalence of chronic diseases.
The North America region is expected to dominate the market over the forecast period owing to the rising geriatric population and higher healthcare spending in countries like the US.
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. The market is highly competitive with these major players launching innovative products to gain market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
