Global Intravenous Solution Market: Overview
Intravenous solutions are routinely used in clinical medicine for the replacement and maintenance of body fluids. They are administered to individuals with depletion of body fluids due to dehydration and other medical conditions. Intravenous solutions are administered directly into the veins as they provide rapid relief to individuals undergoing treatment. According to a report published by the World Health Organization (WHO, diarrhea is the second leading cause of death throughout the world, affecting approximately 1.7 billion people. It causes 525,000 deaths every year.
Different types of intravenous solutions, such as isotonic, hypertonic, and hypotonic, are available in the market . Isotonic solutions comprise normal saline (0.9 NaCl) used for extracellular fluid replacement in treating hypernatremia. Hypotonic intravenous solutions comprise 0.45% NaCl and are used as electrolyte replenishers. Hypotonic solutions are used to treat severe cases of dilutional hypernatremia and low levels of sodium. According to a report published by the WHO, approximately 180,000 people suffered from burns and between 20 and 50 million people suffered severe injuries and blood loss due to road accidents in 2017.
Global Intravenous Solution Market: Key Trends
Major drivers of the global intravenous solutions market include increase in the incidence of chronic and acute diseases, rise in the geriatric population, increase in strategic collaborations between manufacturers to enhance their product portfolio and geographical presence, expansion in the pharmaceutical industry, increase in demand for intravenous solutions from developing economies, and increase in health care expenditure. However, factors such as stringent regulatory scenario and high cost of maintenance of fluids are expected to restrain the global intravenous solution market during the forecast period.
Global Intravenous Solution Market: Segmentation
The global intravenous solutions market can be segmented based on product, composition, distribution channel, and geography. In terms of product, the market can be divided into isotonic solutions, hypotonic solutions, and hypertonic solutions. Based on composition, the global intravenous solution market can be classified into 9% normal saline, lactated ringers, 5% dextrose in water, and others. In terms of distribution channel, the global intravenous solution market can be categorized into hospital pharmacies, drug stores, and retail pharmacies.
Global Intravenous Solution Market: Regional Analysis
Based on geography, the global intravenous solutions market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The intravenous solution market in North America is anticipated to dominate the global market during the forecast period, followed by the intravenous solution market in Europe. The major factors contributing to the dominance of the two regions in the global intravenous solution market are increase in the prevalence of chronic diseases, rise in demand for intravenous solutions, and presence of major manufacturers in the region.
The intravenous solution market in Asia Pacific is anticipated to provide lucrative opportunities to manufactures during the forecast period. The market in the region is anticipated to expand at a rapid pace, due to an increase in the patient population, rapid expansion in the pharmaceutical industry in the region, rise in mergers & acquisition, and increase in government initiatives to promote better health care facilities in developing economies of the region.
The intravenous solutions market in Latin America and Middle East & Africa is expected to expand due to an increase in demand for intravenous solutions, adoption of expansion strategy by major manufacturers in the region to increase their geographical presence, and rise in the incidence and prevalence of chronic and acute diseases.
Global Intravenous Solution Market: Competitive Landscape
Major players operating in the global intravenous solutions market are Baxter, Fresenius Kabi, B. Braun Melsungen AG, ICU Medical, Inc., Grifols S.A, Pfizer, and other prominent players. Increase in focus of manufacturers on emerging markets, rise in product approvals, and expansion of product portfolio are anticipated to drive the global intravenous solution market during the forecast period.
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