Market Size of Global Intravenous Solutions Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.30 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Intravenous Solutions Market Analysis
The intravenous solutions market is projected to record a CAGR of nearly 4.3% over the forecast period (2022-2027).
The intravenous solutions market was significantly impacted by the COVID-19 outbreak. With the sudden outbreak, the demand for IV solutions grew worldwide to provide essential nutrients to patients in the intensive care unit (ICU). COVID-19 positively impacted the studied market as most pharmaceutical, biotechnology, and research institutes have been focusing on developing IV-based treatments against COVID-19. Moreover, with the easing of lockdown restrictions and the introduction of vaccines, the research and development activities are accelerating, thus boosting the market's growth. The World Health Organization report in March 2020 suggested using conservative fluid management in patients with SARS COVID-19 when there is no evidence of shock. Several clinical studies are ongoing for different intravenous drug solutions to treat COVID-19 patients. For instance, clinicaltrial.gov conducted a study in 2020 titled 'Intravenous Imatinib in Mechanically Ventilated COVID-19 Patients (INVENT COVID)', by performing a randomized, double-blind, parallel-group, placebo-controlled, multi-center clinical study of intravenous imatinib in 90 mechanically-ventilated, adult subjects with COVID-19-related ARDS. This study is expected to be completed in 2022.
The major factor attributing to the market's growth is the increase in the prevalence of diseases, such as gastrointestinal diseases, neurological diseases, and cancer, where intravenous solutions are the main sources of energy for patients. According to the World Health Organization, diarrhea is the second leading cause of death in children under five years, with 370,000 deaths in 2019.
Product innovations, such as premixed solutions for better convenience and to reduce the amount of packaging waste, and the availability of solutions in portable packages, which becomes easier for the patients to use the drips in the comfort of their home rather than at a hospital, are few other factors boosting the market's growth. For instance, in June 2019, Eurolife Healthcare, a manufacturing and distribution company of specialty infusion and pharmaceuticals, launched intravenous IV products Discport and Lifeport, which reduce the chances of any infections and are easy to use.
However, regulatory and quality requirements contribute additional cost and complexity to the market. Intravenous fluids are regulated as pharmaceutical products and carry all the capital investment requirements of sterile injectable medications despite being sold at relatively low prices, hindering the market's growth.
