According to the latest report by IMARC Group, titled “Intravenous Solutions Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global intravenous solutions market reached a value of more than US$ 7 Billion in 2017. Intravenous solutions refer to chemically prepared fluids which are injected into the veins of the body by using a needle. They may contain water with electrolytes, sugar or medications added in concentrations according to the patient’s need. Intravenous solutions are considered as the fastest and the most efficient means of delivering medications, as veins help in circulating the medicine to different parts of the body. Apart from this, intravenous solutions also help in sustaining the strength, and countering electrolytes or fluid disbalances.
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Earlier, intravenous solutions were used only in the premises of clinics and hospital. However, the easy availability of intravenous solutions particularly in portable packaging has made it convenient for the consumers to use them in their homes. This has led to the widespread use of intravenous solutions across the globe. Moreover, vendors are currently offering numerous premixed products to patients, which in turn, is reducing waste as well as disposal costs. Apart from this, it has been observed that governments of several developing regions are increasingly investing on the healthcare industry, therefore, positively influencing the demand for intravenous solutions. Besides this, intravenous solutions are given to patients who are suffering from diarrhoea. This helps in maintaining the fluid level of patients which is caused by dehydration, malnutrition and fluid loss from the body. Increasing prevalence of diarrhoea, and other diseases like cancer and diabetes is anticipated to enhance the demand for intravenous solutions. Looking forward, the market value is projected to reach a value of nearly US$ 11 Billion by 2023, expanding at a CAGR of 6% during 2018-2023.
Market Summary:
Based on type, the market has been segmented as partial parenteral nutrition and total parenteral nutrition. Amongst these, total parenteral nutrition accounts for the majority of the market share due to growing rates of diseases like cancer.
On the basis of nutrient, the market has been segregated as carbohydrates, salts and electrolytes, minerals, vitamins, and amino acids.
Region-wise, the market has been divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, North America is the leading market, accounting for the majority of the global share as the region has a huge geriatric population.
The competitive landscape of the market has also been examined with some of the key players being Ajinomoto, B. Braun Melsungen, Baxter International Inc., Grifols and Otsuka Pharmaceutical.
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