by Intravenous solutions, also known as parenteral solutions, are sterile solutions administered intravenously into a patient’s vein through the use of tubing and a needle or a central venous catheter. Common intravenous solutions include sodium chloride solution for replenishing body fluids, dextrose solution for hydration and calories or electrolyte solution containing potassium chloride, sodium chloride and calcium chloride for essential electrolyte replacements. They are used for fluid replacement to correct dehydration, administer medication intravenously and correcting electrolyte imbalance. The solutions are essential products used in healthcare settings such as hospitals, clinics, nursing homes and long-term care facilities. The global intravenous solutions market has witnessed significant growth owing to increasing demand for therapeutic infusion solutions in disease conditions such as gastrointestinal disorders, cancer, diabetes, neurological disorders and need for timely fluid administration.
The global Intravenous Solutions Market is estimated to be valued at US$ 577,228 Mn 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:
The growing demand for therapeutic infusion solutions and increasing prevalence of chronic diseases are the major drivers expected to boost the growth of the global intravenous solutions market over the forecast period. As per the World Health Organization, chronic diseases are the leading causes of mortality in the world, responsible for approximately 60% of all deaths globally. Chronic diseases requiring long term intravenous treatment such as cancer, diabetes, gastrointestinal disorders, neurological disorders etc. are increasing at a rapid rate globally due to aging population and changing lifestyle. This expanding chronic disease population base is expected to increase demand for intravenous therapeutic formulations to manage these diseases over the forecast period. Another factor projected to fuel the market growth is increasing number of surgical procedures globally requiring pre and post-operative fluid administration to patients intravenously. According to Anthropic report, over 312 million major surgical procedures were performed worldwide in 2020. This rising surgical volume is expected to fuel demand for postoperative intravenous fluid therapy.
Segment Analysis
The global intravenous (IV) solutions market can be segmented into crystalloids and colloids. Crystalloids dominate the market and account for over 70% share owing to wide applications. Crystalloids such as saline solutions are affordably priced and have few side effects, thus are widely adopted for hydration and maintaining electrolyte balance.
PEST Analysis
Political: Regulations around pharmaceutical products impact the IV solutions market growth. Changes in healthcare reimbursement policies also affect market dynamics.
Economic: Rising disposable incomes in developing nations have increased healthcare spending, boosting market growth. However, economic slowdowns may impact the availability of funds for IV therapy.
Social: Growing geriatric population worldwide prone to chronic diseases augments market demand. However, social stigma around IV therapies in certain regions hampers full market potential.
Technological: Adoption of advanced infusion technologies has improved convenience and safety of IV administration. Smart pumps with customized infusion capabilities are gaining popularity.
Key Takeaways
The Global Intravenous Solutions Market Size is expected to witness high growth in the coming years. The global Intravenous Solutions Market is estimated to be valued at US$ 577,228 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.
Regional analysis: Asia Pacific is expected to witness fastest growth during the forecast period. Countries such as India, China and Japan are experiencing rapid expansion of private and public healthcare sectors which will fuel market demand. Increasing incidences of chronic lifestyle diseases like diabetes also contribute to market growth in the region.
Key players: Key players operating in the intravenous solutions market are Amara Halal Cosmetics, Andalou,Clara International Beauty Group, COSMECCA KOREA, COSRX, Ecotrail Personal Care Pvt. Ltd., Halal Korea Co., Ltd., INGLOT Cosmetics, INIKA organic, IVY Beauty Corporation, KOLMAR KOREA, SO.LEK Cosmetics, and Talent Cosmetics.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
