(PharmaNewsWire.Com, August 15, 2019 ) According to the latest report by IMARC Group, titled “Intravenous Solutions Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global intravenous solutions market size reached US$ 8.0 Billion in 2018. Intravenous (IV) solutions, also known as intravenous fluids, are administered to a patient to provide salt, sugar and water directly into their venous circulation. It is required when an individual is ill, going through an operation or is not in the condition to eat or drink. IV solutions and electrolytes are mainly used for fluid resuscitation, routine maintenance, replacement, and redistribution. Nowadays, intravenous drugs, nutrition and fluids have become an integral part of modern therapy.
Over the past few years, the prevalence of hectic work schedules and unhealthy lifestyles has increased across the globe. The consequent decline in physical activity and proper nutrition has led to a rise in the incidences of chronic diseases, which in turn has boosted the demand for intravenous solutions. Besides, there has been significant growth in the production of IV fluids, particularly in developed countries. For instance, it was reported that due to the shortage of IV saline, the US Food and Drug Administration (FDA) and other market players have been making efforts to mitigate the crisis. In line with this, the US-based marketing and technology company, Merge, partnered with the innovative medical products and services provider, B. Braun Medical, to introduce the ‘Solutions for Life’ omnichannel campaign in May 2019. This initiative is aimed to ensure a consistent supply of IV solutions, approved by the US FDA, across the country. On account of these factors, the market is anticipated to expand at a CAGR of 6.2% during 2019-2024, reaching a value of US$ 11.5 Billion in 2024.
1. Partial Parenteral Nutrition 2. Total Parenteral Nutrition
The report has bifurcated the market according to the type into partial parenteral nutrition and total parenteral nutrition. Currently, total parental nutrition is the most preferred type of IV solutions.
Based on the nutrients, the market has been segmented as amino acids, carbohydrates, salts and electrolytes, minerals, and vitamins. Amongst these, amino acids represent the largest segment.
Market Breakup by Region:
1. North America 2, Europe 3. Asia Pacific 4. Middle East and Africa 5. Latin America
On the geographical front, North America is the leading market for intravenous solutions with the majority of the total market share. The growth is led by the rapid expansion of production capacities in the US due to a shortage of IV fluids. Other major regions include Europe, Asia Pacific, Middle East and Africa, and Latin America.
Competitive Landscape:
The competitive landscape of the market has also been examined with some of the key players being Ajinomoto, B. Braun Melsungen, Baxter International Inc., Grifols S.A., and Otsuka Pharmaceutical Co., Ltd.
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