COVID-19 Impact and Recovery Analysis- Intravenous Solutions Market
The Intravenous Solutions Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, production and consumption, supply chain analysis, competitive landscape, and market composition analysis.
Increasing number of surgeries, prevalence of lifestyle disorders, and new product development across the major part of the world are driving the global intravenous solution market. The intravenous solutions are the fluids supplied externally directly into the veins during illness when as patient is not able to consume food and water orally. Increasing cases of chronic kidney diseases, and renal diseases has increased significantly over last decade around the world due to high prevalence of lifestyle disorders such as obesity and diabetes. According to the National Kidney Foundation, in the United States approximately 15% of the adult American population was affected with chronic kidney diseases in 2016 and around 90% of these are not aware about their condition. This has increased the rate of kidney failure in the United States, rising the demand for dialysis equipment and solutions.
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The rising demand for saline intravenous solutions to offer lucrative growth opportunities
The global intravenous solutions market is segmented based on solution type, bag capacity, application, end user, and geography. Based on solution type, the global intravenous solutions market is segmented into saline, dextran, lactated ringer’s, amino acid, vitamins & minerals, heparin and trace elements, and mixed solutions. The saline solution type is further sub-segmented into normal saline (0.9% NaCl), and hypertonic saline. In 2019, the lactated ringer’s intravenous solutions contributed largest revenue share to the market owing to increasing demand from patients affected with low blood volume conditions. Lactated ringer’s solution also known as sodium lactate solution and Hartmann’s solution is a mixture of sodium chloride, sodium lactate, potassium chloride, and calcium chloride in water and offers highly essential body fluids during treatment of severe medical conditions.
Increasing number of hospitals and expanding ambulatory surgery center network to bolster intravenous solution market growth
Based on end user, the global intravenous solution market is segmented into hospitals, clinics, ambulatory surgery centers, and home care facilities. The demand for intravenous solution from hospitals contributed the largest share to the market owing to rising number of public, community and private hospitals around the world. The ambulatory surgical centers are anticipated to be the fastest growing end use segment during the forecast period. Increasing number of small clinics in developing countries in Asia Pacific and Middle East & Africa are anticipated to fuel demand for intravenous solution during the forecast period.
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Based on geography, the global intravenous solutions market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe contributed the largest share to the global intravenous solutions market owing to research and development activities and introduction of improved intravenous solutions such as parenteral intravenous nutrition (PN). New product development, along with increasing consumption fuelled by rising geriatric population across the European Union countries are the prime factors governing the demand and growth of intravenous solution in Europe. Asia Pacific is anticipated to be the most lucrative market during the forecast period owing to improving healthcare infrastructure and rising demand. Growth of medical tourism in China, India, Japan, Singapore and other Southeast Asian countries is anticipated to offer lucrative opportunities to the manufacturers and suppliers of intravenous solutions during the forecast period.