The global Intravenous (IV) Solutions Market size is expected to grow significantly in the coming decade, from USD 7.8 billion in 2022 to USD 12.5 billion by 2032, with a projected Compound Annual Growth Rate (CAGR) of 4.8%. The rising prevalence of chronic diseases such as cancer and diabetes, coupled with an increasing geriatric population, are major factors driving the growth of the market. In hospitals and clinics, IV solutions are frequently used to treat patients with chronic illnesses, as well as to hydrate and nourish patients who are unable to swallow food or liquids orally.
Furthermore, the use of IV solutions in emergency scenarios is increasing, such as to quickly administer drugs and fluids to patients in critical condition. In addition, the increasing prevalence of accidents and injuries, particularly in developing countries, is driving revenue growth for the market. IV solutions are also frequently employed to keep patients hydrated and maintain electrolyte balance during and after surgical procedures.
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The market is also expected to grow due to the increasing use of IV solutions in the home healthcare setting. As the population ages and more individuals require home healthcare, IV solutions are frequently used to provide medication and nourishment to patients who are unable to leave their homes. There is also a rising trend of self-administration of intravenous treatments which is increasing the need for IV solutions.
Key players in the Intravenous (IV) Solutions Market:
- Baxter International Inc.
- B. Braun Melsungen AG
- Fresenius SE Co. KGaA
- Grifols S.A.
- ICU Medical, Inc.
- Sichuan Kelun Pharmaceutical Co., Ltd.
- Terumo Corporation
- Sino-Swed Pharmaceutical Corp. Ltd.
- JW Life Science
- Otsuka Pharmaceutical Factory, Inc.
Moreover, the creation of new technologies that make intravenous administration safer and more effective is also expected to drive market revenue growth. For example, smart pumps are becoming more popular in the market as they can automatically modify the rate of infusion based on the patient's state and the type of drug being provided. These pumps are designed to lower the possibility of medication mistakes and enhance patient outcomes.
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However, the high cost of intravenous treatments and the possibility of problems arising from their use are significant factors that could restrain market revenue growth. The accessibility of substitute therapies, such as oral drugs and subcutaneous injections, and the shortage of qualified healthcare workers who can give IV solutions are other factors that could restrain market revenue growth.
In terms of regulations, various government bodies such as the U.S. Food and Drug Administration, Occupational Safety and Health Administration, EU Medical Device Regulation, the European Pharmacopoeia Commission, and the International Conference on Harmonisation have established quality and safety standards related to the manufacture, distribution, and use of intravenous solutions to ensure patient safety.
The global IV solutions market is segmented into crystalloids, colloids, and others based on product type. The crystalloid segment accounted for the largest revenue share in the global IV solutions market in 2022 as it is most often used in the medical field. The colloid segment is expected to register a steady and fast revenue growth rate during the forecast period as it is used to maintain blood pressure and volume during surgeries.
Based on application, the global IV solutions market is segmented into blood transfusion, nutritional support, fluid and electrolyte balance, and others. The fluid and electrolyte balance segment is expected to register the fastest revenue growth rate during the forecast period as these solutions are used to rehydrate patients and maintain electrolyte balance. The nutritional support segment is expected to account for a significantly large revenue share in the global IV solutions market during the forecast period due to the increasing use of nutritional support for people who are unable to eat or have trouble digesting meals. Finally, the blood transfusion segment is expected to register a moderately fast revenue growth rate during the forecast period as patients who have lost blood due to trauma, surgery, or other issues can also receive blood transfusions using IV solutions.
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