PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1378566
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1378566
The U.S. Intravenous Solutions Market is estimated to be valued at US$ 3,171.1 Mn in 2023 and is expected to exhibit a CAGR of 7.2% during the forecast period (2023-2030).
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 3,171.1 Mn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 7.20% | 2030 Value Projection: | US$ 5,165.3 Mn |
Intravenous solution is given to patients to replenish the water, sugar, and salt levels in their body in case of an operation or when an individual can't eat or drink normally. Intravenous solutions are also known as intravenous fluids. Intravenous solutions are of the following types: saline, dextran, lactated Ringer's, amino acids, vitamins and minerals, heparin and trace elements, and mixed solutions. Intravenous (IV) solutions play a crucial role in modern medicine, providing a means to deliver fluids, electrolytes, medications, and nutrients directly into a patient's bloodstream. These solutions are administered through a vein using a sterile IV line and are employed for various medical purposes. One of the primary functions of IV solutions is to maintain a patient's hydration and electrolyte balance. This is particularly important for individuals who are unable to consume fluids orally due to illness, surgery, or other medical conditions. IV solutions can help prevent dehydration, which can lead to serious complications. IV solutions are administered using IV sets, which consist of tubing, a needle or catheter, and a bag or bottle containing the solution. The rate of administration is carefully controlled to ensure the patient receives the prescribed amount.
The key players in the market are focused on organic strategies, such as the product approval of intravenous (IV) formulations, which is expected to drive growth in the U.S. intravenous solutions market over the forecast period. For instance, in May 2022, SIGA Technologies, Inc., a commercial-stage pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) had approved the intravenous (IV) formulation of TPOXX for the treatment of smallpox. For patients who are unable to ingest TPOXX oral pills, the IV formulation offers a significant alternative.