INTRAVENOUS SOLUTIONS MARKET ANALYSIS

Intravenous Solutions MarketSize and Trends

Global intravenous solutions market is estimated to be valued at USD 11.04 Bn in 2024 and is expected to exhibit a CAGR of 6.1% during the forecast period (2024-2031).

Figure 1. Global Intravenous Solutions Market Value (US$ Bn), by Region, 2024

Increasing launches and regulatory approvals for intravenous solution injection is expected to drive growth of the global intravenous solution market

Market players are involved in launching new intravenous injection solutions which is expected to boost the growth of global intravenous solutions market over the forecast period. For instance, in September 2021, Baxter International Inc., a global sterile medication production company, announced the U.S. Food and Drug Administration (FDA) approval and commercial launch of premix Norepinephrine Bitartrate in 5% Dextrose Injection (norepinephrine). Norepinephrine is indicated to raise blood pressure in adult patients with severe, acute hypotension (low blood pressure). Baxter’s formulation of norepinephrine is the first and only manufacturer-prepared ready-to-use formulation and is available in 4 mg/250 mL (16 mcg/mL) and 8 mg/250 mL (32 mcg/mL) strengths.

Figure 2. Global Intravenous Solutions Market Share, By Solution, 2024

Increasing launches of parenteral (intravenous) nutrition (PN) products by key market players is attributing to the highest share of North America market in the global intravenous solutions market.

Increasing launches of parenteral (intravenous) nutrition (PN) products by key players in market for developing global intravenous solutions is expected to drive market growth over the forecast period. For instance, in June 2019, Eurolife Healthcare, a manufacturer and distributor of specialty infusion & pharmaceuticals, launched two intravenous IV products: Discport and Lifeport in the India drug market. The product is considered as smart intravenous infusion, which encompasses the latest technology that reduces the chances of any infection.

Global Intravenous Solutions Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

The sudden outbreak of COVID-19 has bought the world to a standstill. The demand for IV solutions has increased due to the fast spread of coronavirus illness (COVID-19), which will allow patients in intensive care units to receive vital nutrients (ICU). In addition to this, a significant growth-inducing element is the rise in diabetes, cancer, gastrointestinal problems, and neurological illnesses. Additionally, IV solution therapy's superior efficacy and quicker response time are fostering market expansion. It is employed to treat chronic dehydration, a disease that can lead to weariness, memory loss, irritability, and other health issues. For instance, in February 2022, the World Health Organization published a report which stated that nearly 10 million deaths in 2020, or nearly one in six deaths globally due to cancer. Cancer-causing infections, such as human papillomavirus (HPV) and hepatitis, are responsible for approximately 30% of cancer cases in low- and lower-middle-income countries like India and Bangladesh.

Thus, impact of the Coronavirus (COVID-19) pandemic has driven growth of the global intravenous solutions market during the forecast period.