Intravenous Solutions Market Is Estimated To Witness High Growth Owing To Rise In Prevalence Chronic Diseases

Intravenous solutions are sterile solutions that are administered directly into the veins for hydration and delivering medications, electrolytes, and nutrients precisely into the bloodstream. Intravenous solutions help in treating chronic diseases by quickly delivering nutrients and hydration to the body.

The 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 major trends driving the growth of the intravenous solutions market is the rising prevalence of chronic diseases worldwide. As per the World Health Organization (WHO), chronic diseases accounted for approximately 60% of all deaths globally in 2018. Chronic diseases such as cancer, diabetes, cardiovascular diseases need continuous medical treatment and care. Intravenous solutions help in delivering medications and nutrients effectively to manage the symptoms and progression of chronic diseases. Additionally, the growing number of surgical procedures that often require intravenous fluid administration for anesthesia and postoperative care is also boosting the demand for intravenous solutions. Furthermore, increasing awareness about utilizing intravenous therapy for nutrition supplement, hydration, and medication delivery is expected to support the market growth over the forecast period.

Porter's Analysis
Threat of new entrants: The threat of new entrants in the intravenous solutions market is low as it requires huge investments and regulatory approvals to enter this market. Bargaining power of buyers: The bargaining power of buyers in the intravenous solutions market is high as there are many established players providing these solutions. Bargaining power of suppliers: The bargaining power of suppliers is moderate as the raw materials used in intravenous solutions such as dextrose, saline, electrolytes etc. have many suppliers globally. Threat of new substitutes: The threat of new substitutes is low as intravenous solutions have limited substitutes for delivering medications and fluids into the body. Competitive rivalry: The competitive rivalry in the intravenous solutions market is high due to the presence of many global and domestic players.

SWOT Analysis
Strength: The intravenous solutions market has strong growth prospects owing to the increasing prevalence of chronic diseases and rising geriatric population worldwide requiring fluid therapy.
Weakness: High production and transportation costs associated with intravenous solutions can hamper the profits of manufacturers.
Opportunity: Favorable reimbursement policies and initiatives by governments worldwide to encourage the usage of intravenous therapy for diseases will create new opportunities.
Threats: Stringent regulations associated with the production and approval of intravenous solutions can increase the threat from alternative delivery methods.

Key Takeaways

The Global Intravenous Solutions Market Size is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing prevalence of chronic diseases. Intravenous therapy helps deliver medications and fluids directly into the bloodstream making it an effective treatment method for conditions like diarrhea, dehydration and others.

Regionally, North America dominated the intravenous solutions market in 2023 with a share of over 35%, followed by Europe and Asia Pacific. This is attributed to factors such as rising healthcare expenditure, presence of major market players and advanced healthcare infrastructure in the region. However, Asia Pacific is expected to witness the highest growth during the forecast period with a CAGR of 12% owing to growing medical tourism industry and improving access to healthcare in developing countries.

Key players operating in the intravenous solutions market are 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, Pfizer, Inc, Otsuka Pharmaceutical Co., Ltd, Ajinomoto Co., Inc., B. Braun Melsungen AG, Soxa Formulations & Research Pvt.Ltd, Sichuan Kelun Pharmaceutical Co Ltd. These players are focusing on new product launches and expansion strategies to gain a competitive edge in the market.