Intravenous therapy involves the infusion of therapeutic solution into the vein, and it is meant for patients who are deficient in nutrients or severely dehydrated. IV therapy is used to treat electrolyte imbalances, deliver medications, transfuse blood or correct dehydration and might also be used for chemotherapy. According to a study report published by Market Research Future (MRFR), the global market for intravenous solutions is poised to capture a CAGR of 7.69% and will attain USD 11,511.2 Million by 2022.
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According to MRFR analysis, by type, Total Parenteral Nutrition (TPN) held the maximum market share of the IV solutions market and had attained USD 4,940.0 million in 2016n, and by nutritional content, amino acid solution held the maximum market share and had attained USD 2,385.0 million in 2016. Intravenous therapy is widely believed to be more effective than oral ingestion. Intravenous fluids are manufactured by pharmaceutical companies and their use and demand is increasing gradually.
The factors which drive the market for intravenous (IV) solutions are cost-effectiveness, increasing prevalence of chronic diseases, the rise of cholera, and growing acceptance of vitamin C intravenous for colorectal cancer, increase in geriatric population, and increase in a number of dialysis patients, expanding healthcare expenditure and increasing government endorsement. Alterations in regulatory authorities’ reimbursement policies have motivated hospitals to explore different methods of administering drugs through the intravenous process.
Growing adoption of intravenous solutions has spurred the growth of the market, and it is expected that the market will advance with high growth rate, however, stringent government regulations might hinder the growth of the market. IV solutions are manufactured under very rigorous guidelines to ensure patient safety. Increasing vitamin C intravenous therapy prices might also hamper the growth.
Competitive Dashboard:
The global intravenous solutions market is experiencing a period of competition and innovation. To stay competitive, the industry participants are broadening their product lines, entering into mergers, partnerships, implementing strategies such as collaboration and acquisition, which in turn is further driving the market. The eminent market players include ICU Medical, Inc. (U.S.), Fresenius Kabi AG (Germany), Amanta Healthcare (India), Grifols S.A. (Spain), B. Braun Melsungen AG (Germany), Baxter (U.S.), Terumo Medical Corporation (Tokyo), and others.
Industry Trends/Updates:
In May 2018, JW Holdings, a Korean company, announced export deals with Brazil-based Sif Participacoe and India’s Alniche Lifescience. In the five year contract, the company will be exporting IV solutions and five other medications.
Segmentation:
The global intravenous (IV) solutions market has been segmented based on type, nutritional content and end-user. By type, the market has been segmented into total parenteral solution and peripheral parenteral solution. By nutritional content, the market has been segmented into amino acid solutions, vitamins & minerals, parenteral lipid emulsion, carbohydrates and others. By end-users, the market has been segmented into hospitals & clinics, homecare and ambulatory.
Regional Analysis:
The key markets of the global intravenous (IV) solutions market include North America, Europe, Asia-pacific and the Middle East & Africa. The IV solutions market in North America holds the most significant share of the market and it attained USD 4,276.5 million in 2016. The growth can be attributed to the high adoption of IV therapy and high prevalence of chronic diseases in the region. The Asia-Pacific market is projected to garner a CAGR of 8.34% during the forecast period. The region is expected to be the fastest growing market owing to increasing health awareness about infusion, increasing government focus on IV therapy and rising per capita income. The Middle East and Africa region offer potential export opportunities for local producers, but the market is relatively smaller compared to other regions.
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