Intravenous solutions, commonly known as IV fluids, are sterile fluids administered through intravenous injection or intravenous line needle into a vein. IV fluids deliver fluids, electrolytes, and medications to patients and help treat dehydration, manage fluid balance, and replenish electrolytes in patients. The rising prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases has increased the need for intravenous fluids for disease management. The global Intravenous Solutions Market is estimated to be valued at US$ 665.66 Bn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing geriatric population is one of the key factors driving the growth of the Global Intravenous Solutions Market Size. Older adults are more prone to develop chronic diseases due to the age-related decline in the functioning of major organs and overall weakening of the immune system. According to the United Nations, the number of persons aged 60 years or over is expected to more than double by 2050 and triple by 2100. People aged 60 and above numbered 962 million in 2017. The number is projected to grow to 2.1 billion in 2050 and 3.1 billion in 2100. Thus, the rising geriatric population will increase the demand for intravenous solutions for disease management and treatment.
SWOT Analysis
Strength: Intravenous solutions have high demand from hospitals, clinics, and home healthcare as they help in hydration and quick administration of medications.
Weakness: Higher costs associated with production, sterilization and filling of IV solutions raises overall treatment costs.
Opportunity: Growing prevalence of chronic diseases and global demographic shift towards geriatric population increases demand for intravenous therapies.
Threats: Stringent regulations associated with manufacturing and supply of sterile IV solutions raises the entry barriers for small players.
Key Takeaways
The global Intravenous Solutions market is expected to witness high growth.
Regional analysis: North America region currently dominates the market owing to growing prevalence of chronic conditions and rising healthcare expenditure in the US and Canada.
Key players operating in the Intravenous Solutions market are Amcor plc, Bemis Company Inc., Sonoco Products Company, Sealed Air Corporation, DS Smith Plc. Amcor plc reported maximum revenue share in the global intravenous solutions market followed by Bemis Company and Sonoco Products Company in terms of production volume.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
