The intravenous solutions market is projected to record a CAGR of nearly 4.3% over the forecast period. The major factor attributing to the growth of the market is the increase in the prevalence of diseases, such as gastrointestinal diseases, neurological diseases, and cancer, where intravenous solutions are the main sources of energy for the patients. According to the World Health Organization, diarrhea is the second leading cause of death in children under five years old. Globally, there are nearly 1.7 billion cases of childhood diarrhea disease every year. Furthermore, product innovations, such as introducing premixed solutions for better convenience and to reduce the amount of packaging waste, and the availability of solutions in portable packages, which becomes easier for the patients to use the drips at the comfort of their home rather than a hospital, are few other factors boosting the market growth. However regulatory and quality requirements contribute additional cost and complexity to the market. Intravenous fluids are regulated as pharmaceutical products and carry all of the capital investment requirements of sterile injectable medications despite being sold at relatively low prices, which hinders market growth.
Key Market Trends
Saline IV Segment is Dominating the Intravenous Solutions Market
Sodium chloride 0.9%, with or without additional potassium, is one of the most commonly used IV fluids when fluid is lost for any reason, electrolytes become imbalanced, body systems are stressed, and cognitive function in the brain is impaired. Blood becomes concentrated, signaling the kidneys to retain water. As a result, urine output is decreased. Replacement of fluids intravenously resolves the imbalance and restores normal body functions. The saline fluid is used mainly in conditions like hemorrhage, vomiting, diarrhea, drainage from gastrointestinal suction, metabolic acidosis, or shock. It is the only fluid used in conjunction with blood product administration. All these factors make it the most used IV fluid, maintaining its dominant position in the market.
North America Dominates the Market and is Expected to do Same in the Forecast Period
North America is expected to dominate the overall market throughout the forecast period. The market growth is due to the factors, such as the presence of key players, high prevalence of diseases like cancer, vomiting, diarrhea in the region, and established healthcare infrastructure. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers that are expected to increase market growth. In this region, the United States has the maximum share due to supportive healthcare policies, a high number of patients, and a developed healthcare market. According to the Centers for Disease Control and Prevention (CDC), norovirus is the leading cause of vomiting and diarrhea among people of all ages in the United States. It is estimated that 19 to 21 million cases of acute gastroenteritis are caused due to the virus and contribute to about 56,000 to 71,000 hospitalizations and 570 to 800 deaths, mostly among young children and the elderly. Hence, the statistics indicate that the increasing patient pool and increasing disposable revenue in this country boost the market growth of the region.
The intravenous solutions market is moderately competitive and consists of several major players. Some of the companies that are currently dominating the market are Ajinomoto, B. Braun Melsungen AG, Baxter International, Grifols, and ICU Medical Inc.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support