PUBLISHER: The Business Research Company | PRODUCT CODE: 1455260
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455260
Intravenous solutions are sterile liquids administered directly into a patient's bloodstream, primarily for purposes of hydration, medication delivery, or nutrient supplementation. These solutions play a crucial role in intravenous therapy, serving to restore or maintain normal fluid volume and electrolyte balance in situations where oral administration is not feasible.
The main types of products within the category of intravenous solutions include total parenteral nutrition (TPN) and peripheral parenteral nutrition. Total parenteral nutrition is a method employed to provide essential nutrients and fluids directly into the bloodstream for individuals unable to eat or absorb nutrients through the digestive system. Various nutrients, including carbohydrates, vitamins and minerals, single-dose amino acids, parenteral lipid emulsion, among others, are utilized in applications such as basic intravenous (IV) solution, nutritional intravenous (IV) solution, blood intravenous (IV) solution, drug intravenous (IV) solution, and irrigation intravenous (IV) solution. End users of these intravenous solutions include hospitals, clinics, ambulatory surgery centers, and home care settings.
The intravenous solutions market research report is one of a series of new reports from The Business Research Company that provides intravenous solutions market statistics, including intravenous solutions industry global market size, regional shares, competitors with an intravenous solutions market share, detailed intravenous solutions market segments, market trends and opportunities, and any further data you may need to thrive in the intravenous solutions industry. This intravenous solutions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The intravenous solutions market size has grown strongly in recent years. It will grow from $12.9 billion in 2023 to $14 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth observed in the historical period can be attributed to various factors, including an increase in surgical procedures, a growing prevalence of chronic diseases, the expansion of home healthcare services, stringent regulations ensuring product safety, an increased focus on patient hydration, and global emergency preparedness initiatives.
The intravenous solutions market size is expected to see strong growth in the next few years. It will grow to $18.95 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The anticipated growth in the forecast period can be attributed to factors such as population growth and aging, an increase in surgical interventions, a rising incidence of infectious diseases, the adoption of telemedicine and remote patient monitoring, a focus on preventive healthcare, investments in global health security, and the trends towards patient-centric care. Major trends expected in the forecast period include an increased demand for parenteral nutrition solutions, a rise in the adoption of pre-mixed IV solutions, the expansion of home infusion therapies, the introduction of electrolyte-balanced solutions, the introduction of novel drug additives and adjuncts, and the integration of smart IV systems for monitoring.
The increase in the prevalence of cancer is poised to drive the growth of the intravenous solutions market in the future. Cancer, characterized by uncontrolled cell growth and the ability to invade surrounding tissues, necessitates various treatments, including chemotherapy. Intravenous solutions play a crucial role in cancer treatment by delivering chemotherapy drugs and maintaining hydration during therapy. For example, in 2023, the American Cancer Society Inc. projects approximately 1.9 million new cancer cases in the United States, marking an increase from 1.8 million new cases diagnosed in 2020. Additionally, an anticipated 609,820 cancer-related deaths are expected in 2023, up from 606,520 in 2020. Hence, the rising prevalence of cancer is a key driver for the growth of the intravenous solutions market.
The increasing number of surgical procedures is also expected to contribute to the expansion of the intravenous solutions market. Surgical procedures, employed to treat various diseases and disorders through incisions or invasive approaches, rely on intravenous solutions for essential support, including hydration, electrolyte balance, medication administration, and emergency interventions. As an illustration, data from the International Society of Aesthetic Plastic Surgery in September 2023 revealed that in 2022, plastic surgeons worldwide conducted approximately 14.9 million surgical and 18.8 million non-surgical procedures, indicating an 11.2% increase in total procedures. Therefore, the growing number of surgical procedures is driving the growth of the intravenous solutions market.
The high cost of intravenous solutions is identified as a constraint for the intravenous solutions market, potentially limiting access to care for patients who cannot afford the treatments. The elevated costs may result in decreased demand for these products, as patients and healthcare providers may explore alternative, more affordable treatments. For example, in March 2023, Forbes Health reported that the cost of IV (intravenous) therapy varies across the United States, with customers typically facing an average price range of $200 to $400 per bag, influenced by the specific ingredients chosen. Consequently, the high cost of intravenous solutions poses a restriction on the growth of the intravenous solutions market.
Key companies in the intravenous solutions market are strategically focusing on the development of innovative syringes, such as pre-filled and ready-to-administer syringes, to gain a competitive advantage. Pre-filled and ready-to-administer syringes come preloaded with medication, designed for immediate use without the need for manual filling or preparation. For instance, in August 2023, GENIXUS Corp., a US-based healthcare company, introduced KinetiX Rocuronium Bromide Injection in 5 mL and 10 mL ready-to-administer (RTA) syringes. These syringes are made of transparent, durable polymer material, eliminating risks associated with glass syringes. They are pre-filled and ready for administration, saving time and reducing medication errors. The product possesses features such as RFID-enabled technology with KitCheck, intuitive labeling, and a color-coded plunger rod for rapid identification.
In August 2022, CSL Limited, an Australia-based specialty biotechnology company, acquired Vifor Pharma AG for an undisclosed amount. This strategic acquisition enables CSL Limited to diversify its portfolio, expand its product offerings, increase revenue, and access new markets. Vifor Pharma AG, based in Switzerland, is a pharmaceutical manufacturing company providing intravenous (IV) solutions for the treatment of iron deficiency, nephrology, and rare diseases.
Major companies operating in the intravenous solutions market report are Pfizer Inc., Abbott Laboratories, Eli Lilly and Company, Fresenius SE & Co. KGaA, Becton, Dickinson and Company, Baxter International Inc., Otsuka Pharmaceutical Co. Ltd., CSL Limited, B. Braun Melsungen AG, Grifols S.A., Terumo Corporation, Nipro Corporation, Sichuan Kelun Pharmaceutical Co. Ltd., Cipla Limited, Hikma Pharmaceuticals PLC, ICU Medical Inc., Gland Pharma Limited, Cisen Pharmaceutical Co. Ltd., Amsino International Inc., JW Life Science Co. Ltd., Eurolife Healthcare Pvt. Ltd., Huaren Pharmaceutical Co. Ltd., Troikaa Pharmaceuticals Ltd., Claris Lifesciences Limited, Amanta Healthcare Ltd., Axa Parenterals Ltd., Wockhardt Ltd., Liqvor pharmaceuticals cjsc, Soxa Formulations & Research Pvt.Ltd., Aculife Healthcare Pvt. Ltd.
North America was the largest region in the intravenous solutions market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intravenous solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the intravenous solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The intravenous solutions market consists of sales of dextrose 5% in water (D5W), 0.45% sodium chloride (half normal saline), dextrose 5% in normal saline (D5NS), 0.2% sodium chloride (hypotonic saline), and dextrose 10% in water (D10W). Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Intravenous Solutions Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on intravenous solutions market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for intravenous solutions ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The intravenous solutions market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.