by IV hydration therapy involves providing hydration intravenously to patients suffering from dehydration. It is a process where intravenous fluids such as normal saline or lactated ringers solution are administered to hydrate the body. IV hydration therapy is used for conditions such as hangovers, jet lag, migraine headaches, diarrhea, vomiting, food poisoning, electrolyte imbalances, and excessive alcohol consumption where oral hydration cannot replenish fluid levels adequately. The global Europe IV hydration therapy market is gaining traction owing to the rising trend of on-demand IV therapy services for mild to moderate dehydration conditions.
The global Europe IV Hydration Therapy Market is estimated to be valued at US$ 261.68 Mn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
According to the European Food Safety Authority, dehydration is one of the most common heat-related illnesses, especially among the elderly population. Severe dehydration can lead to heat cramps, heat exhaustion, and even heatstroke if not treated promptly. With rising awareness regarding the benefits of early IV hydration therapy, consumers are opting for on-demand IV therapy services offered by many startups to replenish fluids and electrolytes lost due to dehydration faster than oral rehydration. Moreover, the increasing consumption of alcohol accompanied by insufficient water intake is leading to the growing incidence of hangovers, thus fueling the demand for IV hydration therapies.
SWOT Analysis
Strength: Europe IV hydration therapy market has grown significantly over the past few years. Upsurge in renal diseases and rise in prevalence of dehydration cases augment the market growth. Availability of technologically advanced fluid infusion devices facilitate easy hydration therapy administration for patients.
Weakness: High cost associated with IV therapy devices and bags pose a major challenge for widespread adoption. Lack of awareness regarding benefits of IV therapy in some regions also limit market expansion.
Opportunity: Growing geriatric population prone to chronic diseases accelerates the demand for IV therapy. Introduction of low-cost infusion pumps and development of ambulatory IV systems present lucrative opportunities. Rising medical tourism in European countries boosts the regional IV hydration therapy industry.
Threats: Switch to alternative oral rehydration methods act as a major threat. Stringent regulatory procedures for new product approvals hamper market growth. Supply chain disruptions amid pandemic outbreak pose challenges.
Key Takeaways
The Europe IV Hydration Therapy Market Size is expected to witness high growth at a CAGR of 16% during the forecast period of 2023-2030. The global Europe IV Hydration Therapy Market is estimated to be valued at US$ 261.68 Mn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030.
Regional analysis
Western Europe holds the largest share in the Europe IV hydration therapy market and is projected to grow at a CAGR of over 17% during the forecast period. This is attributed to increasing healthcare expenditure, rising burden of chronic diseases, growing medical tourism and technologically advanced healthcare infrastructure in countries like Germany, UK and France. Eastern Europe is expected to witness remarkable growth owing to rapidly improving healthcare standards and rising healthcare access in Russia and Poland.
Key players
Key players operating in the Europe IV hydration therapy market are DeviantArt, Nifty Gateway, SuperRare, Foundation, MakersPlace, KnownOrigin, Async Art, ArtBlocks, OpenSea, Rarible, NTWRK, ArtStation, Artsy, Saatchi Art, Singulart, DigitalArt4Climate, Hic et Nunc, Showtime, Verisart, and Artmajeur. These players are focused on expanding their product portfolio and strengthening geographical presence through strategic mergers and acquisitions in the lucrative European region.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
