by The global intravenous solutions market involves fluids that contain dissolved nutrients and minerals that are directly administered into a vein. Intravenous solutions offer important and better absorption of medications and fluids for patients who cannot eat or drink. Common intravenous solutions include normal saline, dextrose normal saline, ringer’s lactate, and amino acids. Such solutions help in preventing dehydration and electrolyte imbalance. There has been an increase in chronic diseases such as cancer, diabetes, and cardiovascular diseases in recent years. Cancer remains one of the leading causes of mortality worldwide. According to the World Health Organization, cancer burden rose to 19.3 million new cases and 10 million cancer deaths in 2020. The rising cancer prevalence has boosted the demand for intravenous chemotherapy treatments requiring IV fluids. Moreover, the global diabetes prevalence was estimated at over 460 million people in 2019 and is projected to reach 700 million by 2045. Diabetes management often involves insulin therapy and fluid/electrolyte replenishment using intravenous solutions.
The global Intravenous Solutions Market is estimated to be valued at US$ 577228 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the intravenous solutions market is the rise of customized and specialized IV solutions. Manufacturers are focusing on developing intravenous solutions tailored to the needs of specific diseases, medical conditions, and patient demographics. For instance, IV solutions catering to pediatric and geriatric patients, cancer treatments, surgical procedures, trauma and burns cases. There is also a rise in IV solutions incorporating immunonutrition comprising glutamine, nucleic acids, fish oils, and antioxidants that aid recovery. Another trend is the advent of ready-to-use IV solutions in pre-filled bags or vials minimizing preparation time. This has bolstered convenience for healthcare providers. Promising research continues into developing novel IV solutions delivering medications in controlled release formulations for extended periods. Such solutions could help improve treatment outcomes.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate. Establishing manufacturing facilities requires high capital investments and regulatory approvals which create barriers.
Bargaining power of buyers: The bargaining power of buyers is high due to the presence of many established players. Buyers can negotiate on price and demand high quality with new product launches.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Key raw materials include saline, glucose, and other electrolytes which have few substitute options for suppliers.
Threat of new substitutes: The threat of new substitutes is low as intravenous solutions have few alternatives for delivering medication intravenously in hospitals and healthcare settings.
Competitive rivalry: The market is highly competitive with key players differentiating based on product portfolio, quality, and pricing.
Key Takeaways
The Global Intravenous Solutions Market Size is expected to witness high growth. The global Intravenous Solutions Market is estimated to be valued at US$ 577,228 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.
Regional analysis: North America dominates the market currently due to advanced healthcare infrastructure and growing prevalence of chronic diseases demanding IV therapy. Asia Pacific is expected to grow at the fastest pace during the forecast period with increasing healthcare spending and expansion of key players in emerging countries.
Key players: Key players operating in the Intravenous Solutions market are Amara Halal Cosmetics, Andalou,Clara International Beauty Group, COSMECCA KOREA, COSRX, Ecotrail Personal Care Pvt. Ltd., Halal Korea Co., Ltd., INGLOT Cosmetics, INIKA organic, IVY Beauty Corporation, KOLMAR KOREA, SO.LEK Cosmetics, and Talent Cosmetics. These players are focusing on new product launches, partnerships, and expansion in growing markets to gain higher market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
