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"The IV Solutions Market is estimated to be USD 7.84 Billion in 2019 and it is expected to reach more than USD 15.05 Billion by 2028, likely to grow with a CAGR of 7.5 % during the forecast period"
An adult human body is made up of 60 % of the water and as age increases, the fluid in the human body keeps on decreasing gradually. Fluids in a body contain components such as cells, proteins, glucose, and electrolytes. Food and water that a human body consumes is the major source of electrolyte. Some of the common electrolytes include sodium, chloride, potassium, magnesium, calcium, phosphate and bicarbonate. It is very important for a human body that fluids in the human body should remain fairly consistent as these fluids are responsible for keeping the body hydrated as the fluid in the body helps to maintain the body temperature, lubricate joints and removes waste from the body and thus maintains overall good health.
Since the last few decades, the demand for IV solutions has been increasing significantly. This is mainly due to the unhealthy lifestyle and prevalence of hectic work schedules across the globe.
Rising Incidents of Chronic Diseases is driving the Growth of Global IV Solutions Market
Increase in chronic disease is the major factor fuelling the growth of the IV solutions products Instances like vomiting, diarrhea, sweating causes the body to be dehydrated and it is necessary for the body to replace the amount of water that is lost from the body. Apart from these instances, the major factor that is leading to the usage of IV solutions includes diabetes, cancers, kidney disease, heart failure, alcoholism, heavy medications and many more. Rising incidence of these diseases is the major factor contributing to the growth of the IV solutions market. Besides this, the rising geriatric population, surgeries, and spread of epidemics are also some of the factors for the growth of this market.
IV solutions are also used during treating dengue, malaria, and typhoid. These fever types are common across the globe. Occurrences of such fever types among the individual are boosting the demand for the IV solutions products. However, less invasive hypodermoclysis is an alternative to IV solutions, however the same is not practiced widely and doctors/practitioners prefer to use IV solutions. With the increasing expenditure on research and development and with a rising population, it is expected that the demand for cost-effective and new products will increase. The above-mentioned factors are anticipated to propel the growth of the global market over the forecast period.
0.9% Normal Saline Anticipated to Dominate the Global Market
In terms of product type, the 0.9% normal saline dominates the product type segment as this segment is consumed for most of the hydration requirement. Also, it is the only fluid that is used along with the blood products in order to treat a patient.
Parenteral Nutrition Registered the Highest Growth Rate Over the Forecast Period
The total parenteral nutrition dominated the global IV solutions market. These are used to provide nutrients to patients while treating them for major chronic affected diseases such as cancer, kidney failure, heart failure, and renal disorders. These nutrition type supplies all the daily necessity nutritional requirements and can be used in both hospitals as well as at home.
Asia Pacific Dominates the Global Market over the Forecast Period, Growing at a CAGR of 8.2%
Asia Pacific is the largest market for IV solutions. Asia Pacific region houses the highest population of the world. This region is home to around 60% of the world’s population. An increasing number of newborn and high geriatric populations are boosting the demand for the IV solutions market in this region. On-going treatment from cancer, diabetes and other diseases is responsible for the growth of the IV solutions. Besides this, the rising occurrence of these diseases may create more opportunities for the IV market in the coming years. Also, the high number of accidents is also one of the factors which are contributing to the growth of IV solutions in this region. Countries such as China and India are the front runners in the IV solutions within the APAC region as these countries are increasing their investments in the healthcare sector.
Regions such as North America and Europe also have a significant market share in the IV solutions market. High geriatric population, rising chronic disease and high disposable income are some of the major factors for the growth of IV solutions in their respective regions.
This market has the highest number of local players that cater to the demand for IV solutions products locally. These local players offer almost all types of IV solutions. The entry barriers in this market are low as the capital required to start into this venture is low and there is a high demand for IV solutions products.
Eurolife Healthcare Launched IV Products
The existing companies, as well as new entrants, are trying to bring new products with different mixes to treat the patients or they are innovating the product in terms of design, packages, or the material used. For instance, in June 2019, Eurolife Healthcare launched high-quality Intravenous IV products Discport and Lifeport.
Some of the key players operating in the IV solutions market include Baxter International Inc, B.Braun Melsungen, Otsuka pharmaceuticals, Grifols, Ajinomoto, ICU Medical and several others.
Global IV Solutions Market by Product Type
- 0.9% Normal Saline,
- Lactated Ringers
- 5% Dextrose in Water
- 0.45% Normal Saline
Global IV Solutions Market by Nutrition Type
- Total Parenteral Nutrition
- Peripheral Parenteral Nutrition
Global IV Solutions Market by End-User
- Ambulatory Surgical Centers
Global IV Solutions Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- South America