Intravenous Solution Market Growth to register a CAGR of 6.1% to reach US$ 13,410.8 Million by 2027, Key players: Baxter International Inc, ICU Medical, Inc, B. Braun Melsungen Ag, Grifols, S.A., Fresenius Kabi USA.
The global intravenous solutions market, by solution (Saline (Normal Saline (0.9% NaCl) and Hypertonic Saline), Dextran, Lactated Ringer’s, Amino Acid, Vitamins & Minerals, Heparin and Trace Elements, and Mixed Solutions), By bag type (Large Volume Bags (greater than 250ml) and Small Volume Bags (less than 250ml)), By Application (Basic IV Solution, Nutritional IV Solution, Blood IV Solution, Drug IV Solution, and Irrigation IV Solution), by end user (Hospitals, Clinics, Ambulatory Surgery Centers, and Home Care Settings), and by region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was assessed at US$ 8,372.0 million in 2019, and is expected to exhibit a CAGR of 6.1% over the forecast period (2019-2027).
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Increasing cases of kidney failures have resulted in a significantly higher adoption of dialysis procedures, which is an imperative factor expected to fuel the global intravenous solutions market growth over the forecast timeline. According to the National Kidney Foundation Factsheet, in March 2015, an estimated 10% of the global population was affected by chronic kidney diseases (CKDs), while around 2 million people received treatment for kidney failure. As reported by the National Institute of Health (NIH), an estimated 661,000 people in the U.S. suffered from kidney failures in December 2016. It was further reported by the same source that around 88.2% of end-stage renal disease (ESRD) patients in the U.S. underwent renal replacement therapies with hemodialysis.
Manufacturers across the globe are deeply focused on the development of products that are claimed to augment patient safety, prevent administration errors in IV medication, and thus eliminate the chances of patient injuries. For instance, in March 2017, Becton, Dickinson and Company launched an IV Medication Safety Solution, at the European Association of Hospital Pharmacists (EAHP) congress, in France.
Key Market Takeaways:
- Among various solution types, the saline solutions segment accumulated a major revenue share in 2027, owing to increasing incidence of gastroenteritis worldwide. In the Global Burden of Disease study, conducted in 2015, it was observed that there were two billion cases of gastroenteritis, which caused about 1.3 million deaths in the same year.
- The well-known players operating in the global intravenous solution market include 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.
- Global Intravenous Solution Market , By Solution Type:
- Normal Saline (0.9% NaCl)
- Hypertonic Saline
- Lactated Ringer’s
- Amino Acid
- Vitamins & Minerals
- Heparin and Trace Elements
- Mixed Solutions
- Global Intravenous Solution Market, By Bag Type:
- Large Volume Bags (greater than 250ml)
- Small Volume Bags (less than 250ml)
- Global Intravenous Solution Market, By Application:
- Basic IV Solution
- Nutritional IV Solution
- Blood IV Solution
- Drug IV Solution
- Irrigation IV Solution
- Global Intravenous Solution Market, By End-user:
- Ambulatory Surgery Centers
- Home Care Settings
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