IV Solutions Market Growth & Trends
The global intravenous solutions market size is expected to reach USD 18.9 billion by 2028 according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.9% from 2021 to 2028. The growing incidence rate of chronic diseases such as cancer, increase in the number of premature births, and shortage of I.V. solutions in the U.S. are some of the key factors expected to drive the market.
One of the prime areas wherein intravenous (IV) fluids find usage is severe dehydration. Severe dehydration is seen in diseases such as diarrhea, resulting in the depletion of fluids from the body. According to the WHO, in 2017, diarrhea was the second leading cause of death in children under 5 years of age with around 5,25,000 lives lost each year. Intravenous (IV) fluids can play a key role in the treatment and prevention of deaths caused due to the dehydration/fluid loss associated with diarrhea. Other cases where intravenous fluids find application include surgeries and emergency situations.
The ongoing COVID-19 pandemic is expected to have a positive impact on the market. Intensive Care Units (ICU) worldwide are either operating at full capacity or are overcrowded due to the high influx of patients infected with severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). As per an article published by BBC, in January 2021, critical care wards across England were running in full capacity. Nutritional care is one of the essential elements in managing these patients. This has increased the demand for intravenous (IV) fluids, as many of the patients, especially the elderly population are placed on ventilators and are unable to consume food orally.
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IV Solutions Market Report Highlights
- The Total Parenteral Nutrition (TPN) segment led the segment in terms of revenue share in 2020 owing to its growing applications in the management of chronic diseases
- The increasing number of surgeries and post-operative nutritional management is a prime factor driving the vitamins and minerals (salt and electrolyte) segment’s growth
- North America dominated the market with a revenue share of nearly 40.8% in 2020 due to the high usage of IV fluids in the U.S.
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IV Solutions Market Segmentation
Grand View Research has segmented the global IV solutions market based on type, nutrients, and region:
Intravenous Solutions Type Outlook (Revenue, USD Million, 2016 - 2028)
- Total Parenteral Nutrition (TPN)
- Peripheral Parenteral Nutrition (PPN)
Intravenous Solutions Nutrients Outlook (Revenue, USD Million, 2016 - 2028)
- Single Dose Amino Acid Solution
- Vitamins & Minerals (Salt and electrolyte)
- Parenteral Lipid Emulsion
Intravenous Solutions Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
List of Key Players of IV Solutions Market
- Terumo Corporation
- Braun Melsungen AG
- Fresenius Kabi
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.