The high incidence of chronic diseases and the growing number of new product launches by key manufacturers are expected to boost the growth of the global IV solutions market at a CAGR of 7.69% during the forecast period of 2021 to 2028.
Pune, India, May 2021, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global IV Solutions Market.
Market Research Future (MRFR) has published a cooked research report onthe “IV Solutions Market analysis” that contains the information from 2018to 2028.The IV solutions market is expected to register a CAGR of 7.69% during the forecast period of 2021 to 2028.
MRFR recognizes the following companies as the key players in the global IV solutions market—Baxter International Inc. (US), Fresenius SE & Co. KGaA (Germany),B. Braun Melsungen AG (Germany), ICU Medical, Inc. (US), Pfizer Inc. (US), Grifols S.A. (Spain), Terumo Medical Corporation (Japan), and Amanta Healthcare (India).
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The global IV solutions market is expected to register a CAGR of 7.69% during the forecast period and is expected to hit USD 11,511.2 million by 2028.
Intravenous therapy delivers fluids, medications and nutrition directly into a patient’s vein. The intravenous route is commonly used to provide nutrition or for rehydrationtopatients who unable toingest food or water by mouth.
Growing prevalence of chronic diseases, rapidly growing population prone to dysphagia, and innovations in IV solutions are driving the growth of the IV solutions market. Additionally, rising product launches by major market players are also driving the growth of the IV solutions market. For instance, Otsuka Pharmaceuticals (Japan) launched an ENEFLUID injection, the first peripheral parenteral nutrition solution that containswater-soluble vitamins and fat in addition to glucose, amino acids, and electrolytes in a dual-chamber bag.Similarly, in April 2019, B. Braun Melsungen AG (Germany) announced the launch of its Heparin Sodium Injection, USP, with attached safety needle for subcutaneous and intravenous use in the US.However, stringent government regulationsareposing a challenge for the growth of the market. For example, theUS-based company voluntarily recalled one single lot of Lactated Ringer’s Injection, USP, in May 2020. The products were being recalled to the hospital/user level due to the presence of particulate matter identified as iron oxide.
The global IV solutions market has been dividedbased on nutrition type, bag type, nutritional content,and end user. The market, based on nutrition type, has been bifurcatedinto peripheral parenteral nutritionand total parenteral nutrition.
Based on bag type, the IV solutions market has been bifurcated into large volume bags (>250 ml)and small volume bags (<250 ml).Based on nutritional content, the IV solutions market has been segregated into amino acid solution, vitamins & minerals, carbohydrates, parenteral lipid emulsion,and others.On the basis of end user, the market is segregated intohospitals& clinics, ambulatory surgical centers,andhome care.
The global IV solutions market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America is projectedto hold the largest global market share during the assessment perioddue to the increasing patients with acute or chronic diseases such as cancer, rising populations prone to pharyngitis, and tonsillitis.As per the National Cancer Institute data, there were 18.1 million new cases and 9.5 million cancer-related deaths worldwide in 2020, and by 2040, the number of cancer cases per year is projected to rise to 29.5 million, and the number of cancer-related deaths may spike to 16.4 million cases.Additionally, the StatPearls data updated in August 2020 stated that tonsillitis is a common disease and makes up approximately 1.3% of outpatient visits.Nutrition therapy is the treatment of a medical condition, for example, diabetes mellitus, through changes in diet, by adjusting the quantity, quality, and method of nutrient intake. In the US, medical nutrition therapy has a legal definition and is provided by a registered dietician.As per the National Diabetes Statistics Report, 2020, approximately 34.2 million
American shavediabetes, and 88 million American adultshave prediabetes. The IV solutions market in Europe is expected to propel during the assessmentperiod due to rising government initiatives, the rising prevalence of cancer, and the increasing awareness among healthcare providers regarding advanced treatment options.The rapidgrowth of the Asia-Pacific market is due to improving infrastructure and rising per capita income, and government initiatives to improve the quality of healthcare. Chinaand India pose to bea lucrative market for IV solutions due to the growing older population.In addition, the rising prevalence of patients in need of healthcare services at home is also driving the regional market.
Key Findings of the Study
- The global IV solutions marketwas sized atsmillionin 2020 and is expected to exhibita CAGR of7.72% during the assessment period
- North America accounted for the largest market sharedue to the increasing target patient population and growth in the availability of refined products.
- Based on the nutrition type, the total parenteral nutritionsegment accounted for the largest market share of 65.76% in 2020.
- Based on the bag type, the small volume bags segment accounted for the largest market share of 60.18% in 2020.
- Based on the nutritional content, the amino acid solutionsegment heldthe largest market share of 31.83% in 2020.
- Based on the end user, the hospitals and clinicssegment accounted for a major market share with a value of USD 3,903.89 million in 2020.
- Some of the players operating in the IV solutions market are Baxter International Inc., ICU Medical, Inc., Fresenius Kabi AG, and B. Braun Melsungen AG.
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