Intravenous Solutions Market: Single-Dose Amino Acid Solution Segment Held The Largest Revenue Share
Intravenous Solutions Industry Overview
The global intravenous solutions market size was valued at USD 11.1 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 8.0% over the forecast period. This is due to a rise in natality rate, an increasing geriatric population, a growing prevalence of cancer, and a rise in the prevalence of malnutrition. The COVID-19 pandemic has significantly increased the production of intravenous (IV) solutions. In the ongoing fight against COVID-19, Intensive Care Units (ICUs) are filled with patients infected by COVID-19. The demand for intravenous injections has increased during the pandemic.
Also, the new coronavirus strains have been reported in various parts of the world leading to more people suffering from the virus. As a result, an increase in the number of hospital admissions is also witnessed. Many patients, particularly the elderly and patients with severe lung infections, are put on ventilators for critical care. In such cases, to maintain adequate nutrition, intravenous solutions are constantly provided to such patients. Furthermore, the WHO recommends that patients with COVID-19 having severe respiratory infections should be treated with intravenous fluids. As a result, the demand for IV solutions is projected to increase significantly, particularly during the pandemic.
Gather more insights about the market drivers, restrains and growth of the Global Intravenous Solutions market
In addition, breakthroughs in surgical operations and therapies have enhanced life expectancy, resulting in a significant demand for modern medical care. IV nutrition is a crucial aspect of any treatment to help patients meet their nutritional needs and recover faster. When patients are unable to accept nutritional solutions administered by the enteral or oral routes, the Total Parenteral Nutrition (TPN) approach is used. The regulations for the production of large and small volume parenteral utilized in TPN are outlined in FDA Code of Federal Relations Section 201.323.
The increasing prevalence of chronic conditions, such as cancer, boosts the demand for parenteral nutrition across the country. Parenteral nutrition provides vital nutrients that help in maintaining the strength, energy, and hydration of patients suffering from chronic diseases. According to the statistics published by the WHO, approximately 10 million deaths are recorded in 2020 from cancer. Moreover, a 70.0% increase in cancer cases is anticipated over the next couple of decades. The increasing prevalence of cancer is expected to aid in the growth of the market.
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Intravenous Solutions Market Segmentation
Grand View Research has segmented the intravenous solutions market based on product, nutrients, and region:
Intravenous Solutions Product Outlook (Revenue, USD Million, 2018 - 2030)
- Total Parenteral Nutrition
- Peripheral Parenteral Nutrition
Intravenous Solutions Nutrients Outlook (Revenue, USD Million, 2018 - 2030)
- Carbohydrates
- Vitamins and Minerals
- Single Dose Amino Acids
- Parenteral Lipid Emulsion
- Others
Intravenous Solutions Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights:
- January 2022: ICU Medical acquired a subsidiary of Smiths Group plc that is Smiths Medical. This acquisition will combine the ambulatory infusion devices, syringe, vascular access, and vital care products of Smiths Medical into the existing infusion therapy system of ICU Medical and create an estimated pro forma revenue of approximately USD 2.5 billion.
Key Companies profiled:
Some of the prominent players in the global intravenous solutions market include:
- Fresenius Kabi AG
- Pfizer, Inc.
- Otsuka Pharmaceutical Co., Ltd.
- Baxter
- Braun Melsungen AG
- Vifor Pharma Management Ltd.
- JW Life Science
- Amanta Healthcare
- ICU Medical Inc.
- Grifols, S.A.
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