by The global Intravenous Solutions Market is estimated to be valued at US$ 577228 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Intravenous solutions, also known as intravenous fluids, are sterile liquids containing water and dissolved salts and glucose administered directly into a vein. They are used for fluid replacement to correct dehydration, electrolyte imbalance, and delivering medications. The main types of intravenous fluids include normal saline, dextrose saline, lactated ringer’s solution, etc. They find wide applications in areas like general surgery, critical care, emergency medicine, and chemotherapy. The rising demand for intravenous therapies to treat chronic diseases and increase the absorption and bioavailability of drugs is a major factor driving the growth of this market.
Market key trends:
One of the key trends in the intravenous solutions market is the growing preference for customized and specificity intravenous solutions. This is mainly attributed to rising awareness about the benefits of customized fluids tailored to individual medical conditions and needs. Manufacturers are also focusing on developing innovative products with advanced formulations and delivery methods. For instance, ICU Medical offers IV solutions with Slow-Flow Technology that controls the flow rate. Additionally, the market is witnessing a shift towards ready-to-use prefilled intravenous bags and syringes owing to convenience and accuracy in fluid delivery. This reduces preparation time and risk of contamination.
Porter’s Analysis
Threat of new entrants: The Intravenous Solutions market has moderate barriers for new entrants due to capital requirement for manufacturing facilities and R&D. Bargaining power of buyers: The bargaining power of buyers is moderately high due to availability of many brands offering product differentiation and substitute products.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to availability of many suppliers in the market. Threat of new substitutes: The threat of new substitutes is moderately high due to availability of new products offering added advantages.Competitive rivalry: High as the market has many established brands offering similar products.
Key Takeaways
The global Intravenous Solutions Market Trend is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period 2023 to 2030, due to increasing prevalence of chronic diseases.
Regional analysis
North America dominates the global intravenous solutions market owing to presence of advanced healthcare facilities, rising government funding for clinical trials and R&D on new drug development. Asia Pacific is expected to exhibit fastest growth in the market due to growing healthcare expenditure, increasing aging population and rising incidence of chronic diseases with increasing disposable income.
Key players
Key players operating in the Intravenous Solutions market are Baxter International Inc., ICU Medical. Inc, B. Braun Melsungen Ag, Grifols, S.A., Fresenius Kabi USA, LLC, Vifor Pharma Management Ltd, JW Life Science, Amanta Healthcare, Axa Parenterals Ltd, and Salius Pharma Private Limited, Pfizer, Inc, Otsuka Pharmaceutical Co., Ltd, Ajinomoto Co., Inc., B. Braun Melsungen AG, Soxa Formulations & Research Pvt.Ltd, Sichuan Kelun Pharmaceutical Co Ltd.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
