Intravenous solutions are sterile solutions administered intravenously into the body for hydration and replenishing electrolytes. They aid in correcting electrolyte imbalances and maintain fluid balance. The growing aging population and rising incidence of chronic diseases have increased the demand for intravenous solutions. Moreover, the expanding healthcare infrastructure in developing nations has facilitated greater access to intravenous therapy.
The global Intravenous Solutions Market is estimated to be valued at US$ 577228 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving the growth of the intravenous solutions market is the expansion of healthcare infrastructure across the globe. Several developing nations are investing heavily in developing and upgrading their healthcare facilities. For instance, the Indian government launched the Ayushman Bharat initiative that aims to set up 1.5 lakh health and wellness centers across India by 2022. Moreover, China is also working towards developing county-level hospitals with ICU facilities in all regions by 2020. This rising accessibility to healthcare services has increased the adoption of intravenous solutions for hydration and replenishing electrolytes. The expanding healthcare infrastructure in developing countries has created significant opportunities for players in the intravenous solutions market.
Segment Analysis
The global intravenous solutions market is segmented by type and end user. Based on type, the market is segmented into crystalloids, colloids, and others. Crystalloids is dominating the market and accounts for over 60% market share due to high usage in general fluid management. Crystalloids are used to manage fluid balance, electrolyte balance, and acid-base balance.
Key Takeaways
The Global Intravenous Solutions Market Size is expected to witness high growth during the forecast period of 2023 to 2030. The market size is projected to grow from US$ 577228 Mn in 2023 to over US$ 1000000 Mn by 2030, registering a CAGR of 10%.
Regional analysis: Asia Pacific region is expected to witness the highest growth during the forecast period. This is attributed to growing geriatric population, rising chronic diseases, improving healthcare infrastructure and increasing healthcare spending in countries such as India and China. North America dominated the global intravenous solutions market in 2023 with over 35% market share owing to well developed healthcare system and presence of major players in the region.
Key players: Key players operating in the intravenous solutions market are Amara Halal Cosmetics, Andalou,Clara International Beauty Group, COSMECCA KOREA, COSRX, Ecotrail Personal Care Pvt. Ltd., Halal Korea Co., Ltd., INGLOT Cosmetics, INIKA organic, IVY Beauty Corporation, KOLMAR KOREA, SO.LEK Cosmetics, and Talent Cosmetics. These players are focusing on new product launches, strategic collaborations and expansions to strengthen their market position.
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