Demand for Portable Intravenous Solutions Surging Amid Increasing Focus on Improved Patient Care: Fact.MR
Rising incidence of cancer and diabetes to increase the sales of intravenous solutions
As per a study by Fact.MR, the global intravenous solutions market is estimated to demonstrate a healthy growth for the forecast period 2021 to 2031.
Rising prevalence of diseases such as neurological diseases, cancer, diabetes, and gastrointestinal disorder are the key factors driving the growth of the intravenous solutions market.
According to the Centers for Disease Control and Prevention (CDC), around 34.2 million people were suffering from diabetes in 2020 in the U.S., which is nearly 10.5% of the U.S. total population. Diabetes might cause malnourishment in aged patient. In that event, intravenous solution emerges as a viable solution. Thus, rising prevalence of diabetes will in turn fuel the demand for intravenous solutions in the market.
According to the most recent estimate by the American Cancer Society, around 12,620 new incidences of laryngeal cancer will be reported and nearly 3,770 people will die from laryngeal cancer in the U.S., in 2021.
Patients suffering from these types of cancers are thoroughly dependent on intravenous solutions because of difficulty in eating. This will emerge as a chief driver for the intravenous solutions market growth.
The COVID-19 outbreak has surged the demand for intravenous solutions. The World Health Organization (WHO) has recommended that coronavirus patients with respiratory failure should be treated with intravenous fluids. This has boosted the sales of intravenous solutions across the globe.
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“To expand their portfolio and market share, leading manufacturers are coming up with new innovative products such as portable and premixed intravenous solutions to increase convenience and reduce the packaging waste,” says the Fact.MR analyst.
Key Takeaways
- The U.S. accounts for the largest market share of intravenous solutions due to the high rate of consumption and presence of key players.
- High prevalence of novel coronavirus is creating significant demand for intravenous solutions in the U.K.
- Asia Pacific is expected to emerge as the fastest-growing region owing to increasing focus on healthcare infrastructure.
- The demand for intravenous solutions is steadily increasing due to the high prevalence of premature birth.
- The Total Parenteral Nutrition (TPN) segment is leading the market with the largest revenue share.
Key Drivers
- Rising incidence of cancer is boosting the demand for intravenous solutions.
- The coronavirus pandemic is spurring the sales of intravenous solutions.
- Increasing investment in healthcare infrastructure is expected to drive market growth.
- Product innovations by key manufacturers will surge the demand for intravenous solutions.
Key Restraints
- Unavailability of intravenous solutions due to limited suppliers are restraining the market growth in certain countries.
- Lack of precision and skills are the key factors affecting the demand for intravenous solutions, negatively.
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Competitive Landscape
Leading manufacturers and suppliers of the intravenous solutions market profiled by Fact.MR includes include B. Braun Melsungen AG, icumedical Inc., Otsuka Group, Baxter, Grifols S.A, Pfizer Inc., Claris Lifesciences Ltd., Fresenius SE & Co. KGaA, Eurolife Healthcare, and Sichuan Kelun Pharmaceutical Co. Ltd. Some of the leading manufacturers are focusing on the mergers & acquisitions to expand their regional presence. For instance,
- Eurolife announced the acquisition of Teva Pharmaceutical Industries, an intravenous (IV) infusion business in December 2019. The acquisition was executed to expand company’s global presence.
- In 2019, B. Braun Medical Inc. announced an investment of $1 billion in novel intravenous solutions therapy manufacturing facilities.
More Insights on the Intravenous Solutions Market
Fact.MR offers unbiased analysis of the intravenous solutions market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis solution type (crystalloids and colloids), nutrition type (total parenteral nutrition, and peripheral parenteral nutrition), and end user (hospitals, clinics, ambulatory surgical centers, homecare settings, and others), across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
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Source: Fact.MR