LACTATED RINGERS INJECTION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Lactated Ringers Injection Market Size and Trends

The global lactated ringers injection market is estimated to be valued at USD 510.1 Mn in 2024 and is expected to reach USD 762.2 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031. Lactated ringers injection is extensively used for fluid replacement and for correcting electrolyte imbalances caused by dehydration or medical conditions.

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The market is expected to witness steady growth during the forecast period. Rising prevalence of chronic diseases and increasing number of surgeries performed worldwide are expected to drive the demand for lactated ringers injection. Additionally, growth in healthcare expenditure and increasing awareness about fluid management are further expected to support the growth of the global lactated ringers injection market in the coming years.

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Insights, By Formulation - Preference for Standard Formulation

In terms of formulation, the standard lactated ringer’s solution segment is expected to contribute the highest market share with 52.1% in 2024 owing to its widespread acceptance and preference among medical professionals. Standard lactated ringers solution closely mimics the composition of extracellular fluid and electrolytes in the blood which makes it compatible with patients. Its balanced formulation of sodium, potassium, calcium, and lactate provides an isotonic solution that is less damaging to cells during fluid resuscitation when compared to normal saline.

Insights, By Volume - Demand from Outpatient Settings

In terms of volume, the 250 ml segment is expected to contribute the highest share of the market with 48.1% in 2024 owing to its high demand from outpatient settings. The majority of fluid replacement needs arising from routine surgical procedures, chemotherapy treatments, or emergency room visits can be addressed using a single 250 ml bag of lactated ringers solution. The compact size of the 250 ml bag packaging also makes it convenient for self-administration and transportation of patients.

Insights, By Age Group - Widespread Use in Adult Patient Population

In terms of age group, adults is expected to contribute the highest share with 38.12% in 2024  owing to their large population base and higher occurrences of conditions requiring fluid resuscitation. Conditions like dehydration, hypovolemia, and blood loss are commonly seen in adult patients, especially older individuals. lactated ringers solution is ideally suited for replenishing deficits in electrolytes and circulating volume in such adult patients.

Regional Insights

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Dominating Region: North America

In North America, the dominance in the lactated ringers injection market with a share of 40.2% in 2024 can be attributed to a well-established healthcare infrastructure and the presence of leading manufacturers. Moreover, favorable reimbursement policies have ensured higher adoption rates over the years.

Fastest-Growing Region: Asia Pacific

Meanwhile, the Asia Pacific region exhibits the fastest growth in the lactated ringers injection market driven by growing medical expenditures, rising instances of chronic diseases, and increasing focus of international players on expanding into emerging countries like India.

Lactated Ringers Injection Market Outlook for Key Countries

High Healthcare Expenditure and Surgical Demand in the U.S.

The United States is a leading market for lactated ringers injection due to its substantial healthcare expenditure and the high frequency of surgical procedures. According to Centers for Medicare & Medicaid Services, in January 2021, the U.S. is positioned to invest heavily in medical treatments and technologies, including intravenous solutions like lactated ringers injection. In May 2020, according to  the National Library of Medicine, the demand for these solutions is further amplified by the fact that over 50 million surgical procedures are performed annually.

Government Investment and Evidence-Based Care in Canada

Canada's growing adoption of lactated ringers injection is primarily driven by a focus on improving patient outcomes through evidence-based practices. According to the Canadian Institute for Health Information, in March 2023, the Canadian government allocated over US$ 11 billion to healthcare, which contributed to a reported 15% increase in the use of intravenous fluids like lactated ringers injection as part of standard care protocols. This investment reflects Canada's commitment to enhancing healthcare services and improving patient care across hospitals and healthcare facilities.

Aging Population and Increasing Surgical Procedures in Japan

Japan's expanding market for lactated ringers injection is fueled by its aging population and an increasing number of surgical procedures. According to the Ministry of Health, Labour and Welfare, in September 2022, by 2025, it is projected that approximately 30% of Japan's population will be aged 65 and older, driving the demand for intravenous solutions in geriatric care. Additionally, according to the Japan Surgical Society, in April 2023, advancements in medical technologies and a rise in chronic health conditions have led to a 10% annual increase in the number of surgical procedures performed, further boosting the need for lactated ringers injection.

Growing Healthcare Awareness and Increased Hospital Access in India

India's market for lactated ringers injection is expanding rapidly, driven by increased healthcare awareness and enhanced access to medical facilities. According to the Ministry of Health and Family Welfare, in June 2023, a survey found that 70% of urban Indians are now aware of intravenous therapies and their benefits, leading to a surge in the demand for solutions like lactated ringers injections.

Market Concentration and Competitive Landscape

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Top Strategies Followed by Global Lactated Ringers Injection Market

Established players in the lactated Ringers injection market focus heavily on research and development to introduce innovative products. Baxter spends over US$ 1 billion annually on R&D, driving advancements in infusion therapy and fluid administration. B. Braun seeks new formulations through extensive clinical research. Major players also pursue strategic partnerships to enhance their portfolios. For example, Hospira partners with leading medical device companies to market custom infusion solutions globally.

Mid-sized players focus on offering affordable, high-quality lactated ringers solutions targeting cost-sensitive consumers, especially in developing economies. These companies focus on scaling production while maintaining stringent quality controls to ensure compliance with international standards.

Small-scale players often focus on niche markets by offering specialized formulations or delivery methods. They cater to specific hospital settings or provide customized solutions for specific patient groups such as pediatric or geriatric populations.

Emerging Startups in the Lactated Ringers Injection Industry

Innovative Technologies: Startups in the lactated ringers injection market are increasingly adopting cutting-edge technologies like artificial intelligence (AI) and machine learning to predict and monitor the effectiveness of solutions. AI can optimize production processes and improve inventory management, while smart sensors integrated into infusion systems can provide real-time data to healthcare professionals.

Sustainable Solutions: Some startups are focusing on eco-friendly initiatives within the medical supply chain. For instance, companies are developing biodegradable packaging for lactated ringers injection products or exploring alternative materials for IV bags that reduce plastic waste.

Startups may target underserved regions or niche markets where traditional players have limited presence. For example, companies are focusing on rural healthcare providers, where access to basic intravenous solutions is limited.

Lactated Ringers Injection Industry News

• On November 12, 2024, ICU Medical, a medical technology company, has been expanding its global footprint, especially in emerging markets where healthcare infrastructure is rapidly growing. By increasing access to its infusion systems and IV solutions like lactated ringers injection, ICU Medical is well-positioned to meet the rising demand for critical care products in these regions.
• In April 2024, Baxter, a S.-based multinational healthcare company, expanded its pharmaceuticals portfolio with five new injectable products in the U.S., launched on April 11, 2024. The products include Norepinephrine, Vasopressin, Vancomycin, Ropivacaine, and Regadenoson, all available in ready-to-use formulations. These innovations aim to improve patient safety and streamline healthcare processes by reducing contamination risks and preparation errors. The new products focus on critical therapeutic areas such as hypotension, infections, anesthesia, and stress testing.

Product Recall Update:

• In May 2020, ICU Medical, Inc. medical technology company voluntarily recalled a specific lot of Lactated Ringers Injection, USP, due to the detection of iron oxide particulate matter. This recall was initiated following a customer complaint. The affected product was distributed nationwide for both human and veterinary use. At the time of the recall, no adverse events had been reported.

Key Takeaways from Analyst

• The global lactated ringers injection market is expected to witness steady growth over the forecast period driven by the rising prevalence of chronic diseases and increasing number of surgeries performed worldwide. Intravenous fluids such as lactated Ringers solution find wide application during surgical procedures to maintain fluid balance in patients. Moreover, the growing geriatric population who are more susceptible to chronic illnesses will further augment market growth. North America currently dominates the global lactated ringers injection market and is expected to maintain its leading position throughout the forecast period owing to well-established healthcare systems and higher healthcare spending in the region.
• Asia Pacific is anticipated to emerge as the fastest growing regional market supported by rising healthcare expenditure, increasing patient population, and improving access to healthcare in developing countries of the region. However, pricing pressures from generic drug manufacturers may hinder market revenue growth to some extent. On the positive side, the production of biosimilars is expected to create new avenues for established players over the coming years. Additionally, the market is likely to benefit from increasing demand for plasma volume expanders during trauma and emergency care. Overall, with the rising disease burden globally, the lactated ringers injection market holds promising growth opportunities for manufacturers.

Market Report Scope

Market Dynamics

Market Driver - Increasing prevalence of dehydration-related conditions

With the growing level of pollution and fast changing lifestyle in major parts of the world, cases of dehydration due to diarrhea, vomiting, fever, or too much physical exertion in hot weather conditions have unfortunately increased manifold. For instance, in August 2023, the National Library of Medicine revealed that 24% of non-hospitalized older adults experience low-intake dehydration, a condition linked to serious health risks like mortality, long-term conditions, and hospitalization. The condition is more common among long-term care residents (34%) and those with pre-existing illnesses (37%), with a higher risk seen in individuals with renal impairment (42%).

Market Challenge - Regulatory hurdles in product approval

The global lactated ringers injection market is facing stringent regulatory norms for product approval. Manufacturers have to comply with complex guidelines set by regulatory bodies like the U.S. FDA, United States Food and Drug Administration and EMA, European Medicines Agency. Obtaining regulatory clearance involves extensive clinical testing and documentation which makes the approval process lengthy and costly. Any changes to approved formulations or manufacturing sites also require prior regulatory nod.

Market Opportunity - Expansion of Healthcare Infrastructure in Emerging Markets

The growing healthcare infrastructure in emerging economies presents lucrative opportunities for lactated ringers injection suppliers. Countries like India, China, Brazil, and others are witnessing increased healthcare spending to strengthen hospital facilities and expand medical services. This is generating substantial demand for intravenous fluids including lactated ringers’ solutions from both public and private hospitals.

Key Stakeholders of Market

What does Growth in the Global Lactated Ringers Injection Market mean for Different Stakeholders?

The global lactated ringers injection market has multiple players with varied designations and offers multiple opportunities based on their scope of operations.

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Market Segmentation

• By Formulation Insights (Revenue, USD Mn, 2019 - 2031)
• • Standard Lactated Ringer's Solution
  • Lactated Ringer's with Additives (Dextrose, sodium chloride, etc.)
• By Volume Insights (Revenue, USD Mn, 2019 - 2031)
• • 250 ml
  • 500 ml
  • 1,000 ml
• By Age Group Insights (Revenue, USD Mn, 2019 - 2031)
• • Adults
  • Pediatrics
  • Geriatrics
• By Container Insights (Revenue, USD Mn, 2019 - 2031)
• • Plastic Bottles
  • PVC Bags
  • Glass Bottles/Vials etc.
• By Distribution Channel Insights (Revenue, USD Mn, 2019 - 2031)
• • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
• Regional Insights (Revenue, USD Mn, 2019 - 2031)
• • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
• • Baxter International Inc.
  • Braun Melsungen AG
  • ICU Medical, Inc.
  • Fresenius Kabi AG
  • Hospira, Inc.
  • Otsuka Pharmaceutical Co., Ltd.
  • Dechra Pharmaceuticals PLC
  • Vedco, Inc.
  • Grifols S.A.
  • Pfizer Inc.
  • Amgen Inc.
  • Eton Pharmaceuticals, Inc.
  • Sagent Pharmaceuticals, Inc.
  • Aurobindo Pharma Limited