Intravenous Fluid Therapy is the Fastest Growing Segment Fueling the Growth of Intravenous Solutions Market
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| Intravenous Solutions Market |
The global Intravenous Solutions Market is estimated to be valued at US$ 577,228 bn or Million in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Intravenous solutions are fluids administered through a vein via a needle or catheter. They are often used to provide essential nutrients, medications, or fluids to patients. Common uses include rehydration, correcting electrolyte imbalances, and ensuring nutrition is delivered for patients who cannot eat or absorb nutrients through the digestive system.
Market key trends:
One of the major trends in the intravenous solutions market is the increasing use of intravenous fluid therapy. Intravenous fluid therapy involves the administration of aqueous solutions containing electrolytes, sugars, and medications through an intravenous catheter. It is widely used for rehydration, maintenance of fluid balance, and correction of electrolyte abnormalities. The growing prevalence of dehydration, especially among infants, children, and elderly population is increasing the demand for intravenous fluid therapy. Furthermore, advantages such as quick absorption into bloodstream and controlled administration of fluids make intravenous fluid therapy preferable over oral rehydration therapy in many cases. Thus, intravenous fluid therapy represents the fastest growing segment in the global intravenous solutions market.
Segment Analysis
The global intravenous solutions market can be segmented based on type, therapy, end user and region. Based on type, the market can be categorized into total parenteral nutrition, peripheral parenteral nutrition and others. The total parenteral nutrition segment dominated the market in 2022due to increasing incidence of chronic diseases which require intravenous feeding as oral intake is not possible.
Key Takeaways
The global Intravenous Solutions Market Trend is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing prevalence of chronic diseases.
Regional analysis
North America dominated the intravenous solutions market in 2022 owing to growing geriatric population susceptible to chronic diseases in the US and Canada. Asia Pacific is expected to witness the fastest growth over the forecast period due to rising healthcare awareness and improving healthcare infrastructure in countries like China and India.
Key players
Key players operating in the intravenous solutions market are Baxter International Inc., ICU Medical. Inc, B. Braun Melsungen Ag, Grifols, S.A., Fresenius Kabi USA, LLC, Vifor Pharma Management Ltd, JW Life Science, Amanta Healthcare, Axa Parenterals Ltd, and Salius Pharma Private Limited, Pfizer, Inc, Otsuka Pharmaceutical Co., Ltd, Ajinomoto Co., Inc., B. Braun Melsungen AG, Soxa Formulations & Research Pvt.Ltd, Sichuan Kelun Pharmaceutical Co Ltd.
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