Intravenous (IV) Solution Market Overview:
A recent study conducted by Market Research Future (MRFR) finds that the global market for intravenous (IV) solution is set to expand at a compound annual growth rate of 7.69% from 2016 to 2022 and reach a valuation of over USD 11,500 Mn. Intravenous (IV) solution is commonly used for drug administration of direct manner. IV solutions are extremely trusted and relied upon in the healthcare sector. IV instruments are being used for many years now for patient dehydration and administration of nutrition or other health supplies when oral intake is undesirable. Many a times, IV solutions are used for managing patients having severe nutritional deficiency. These solutions are extremely useful in cases where body fluid levels need to be maintained or restored quickly.
Intravenous solutions have evolved with technologies and designs improving their overall functionalities. There are several combinations of packaged intravenous products that have come up in recent years. Manufacturers are introducing IV fluids and compounds that can be mixed with other liquid medicines and solutions for IV administration. The aforementioned factors will continue to drive the global intravenous (IV) solution market. Some of the factors that are having positive impact on the growth of the intravenous (IV) solution market include increased prevalence of chronic disorders and growing popularity of IV led treatments and therapies intended towards curing cancer.
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Global Intravenous (IV) Solution Market: Competition Tracking
- Braun Melsungen AG (Germany),
- ICU Medical, Inc. (U.S.),
- Baxter (U.S.),
- Grifols S.A. (Spain),
- Terumo Medical Corporation (Tokyo),
- Amanta Healthcare (India) and
- Fresenius Kabi AG (Germany).
Healthcare monitoring technology company ivWatch has recently received the CE mark for its latest continuous IV monitoring device ivWatch Model 400. The CE marking will now allow the company to market and sell its product within the European Economic Area.
Baxter International Inc., a Fortune 500 American health care company displayed its OLIMEL 7.6% olive oil-based high nutrition formula at the 40th Congress of the European Society of Clinical Nutrition and Metabolism, which concluded on 4th September. The formula is already approved in Canada as a ready-to-use IV solution.
Global Intravenous (IV) Solution Market Segmentation: Highlights
MRFR’s study also involves a thorough segmental analysis of the Global Intravenous (IV) Solution Market on the basis of type, end user and nutritional content. Based on type, the market has been segmented into peripheral parenteral solution and total parenteral solution. The later is projected to outperform the former through the assessment period. In 2016, the total parenteral solution segment has valued at over USD 4,900 Mn. Based on nutritional content, the market has been segmented into parenteral lipid emulsion, vitamins & minerals, amino acid solution and carbohydrates.
Among these, the amino acid solution segment currently holds the dominant share of the market and the trend is expected to continue in 2018 and beyond. The segment stood at a valuation of USD 2,385 Mn in the year 2016. Based on end user, the intravenous (IV) solution market has been segmented into ambulatory, homecare and hospitals & clinics. The hospitals & clinics segment account for a significant market share. IV solutions are also popular in ambulatory and homecare.
North America at the Forefront of the Global Intravenous (IV) Solution Market
MRFR’s study covers the intravenous (IV) solution market across North America, Europe, the Middle East & Africa (MEA). North America is currently the largest market for intravenous solution and is likely to retain its leading position over 2022. In 2016, the North America’s intravenous (IV) solution market reached a valuation of USD 4,276.5 Mn. Presence of an advanced healthcare system coupled with the high healthcare expenditure supports the growth of the market in the region. Countries such as the U.S. and Canada will continue to present lucrative opportunities for market players operating in the region.
There is substantial rise in occurrence of lifestyle diseases in these countries, which is partly fueling the demand for various medical products, including IV products. Meanwhile, the outlook remains highly positive towards the Asia Pacific intravenous (IV) solution market. The region’s market is projected to expand at a robust CAGR of 8.34% during the assessment period. This is primarily owing to the increasing efforts to improve the level of healthcare service and increase accessibility.
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- Medical device manufacturers and distributors
- Government research organizations
- Hospitals and clinics
- Regulatory agencies
- Pharmaceutical companies
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