Market Trends of Global Intravenous Solutions Industry
This section covers the major market trends shaping the Intravenous Solutions Market according to our research experts:
Total Parenteral Nutrition Segment is Dominating the Intravenous Solutions Market
Total parenteral nutrition is a method of administering nutritional fluids into the body through the digestive system and directly into the vein. These are majorly based on age, weight, height, and type of disease.
These are usually used for gastrointestinal anomalies, bowel syndrome, burns or injuries, chemotherapy, or other surgeries. According to the World Health Organization 2021, chronic diseases have always been a massive global challenge. They account for approximately 71% of all deaths worldwide. This trend is expected to affect the emerging countries the most, as the increasing lifestyle-based diseases and other risk factors are anticipated to be the most significant in developing areas. Thus, the rising prevalence of chronic diseases is expected to increase the demand for the total parenteral nutrition solution.
Cancer treatment includes localized therapies, such as surgery, radiation therapy, cryotherapy, heat or chemical ablation, and systemic therapies. Post-surgery, intravenous solutions become an essential aid in maintaining the fluids in the body.
Furthermore, as per the data of the Gastrointestinal Society, in December 2020, around 13-20% of the people in Canada developed irritable bowel syndrome. In such cases, total parenteral nutrition therapy was observed as primary adjunctive therapy in various medical conditions.
For instance, as per the GLOBOCAN 2020, the estimated number of new brain or nervous system cancer cases in the United States was 24,500 in 2020, and it is expected to reach 30,200 by 2040. This factor is expected to increase the supply of IV solutions to hospitals and clinics as the increasing prevalence of such cancer cases increases the number of hospital admissions.
Hence, with the higher prevalence of these diseases, proper management of fluids in the body becomes a crucial part, which is expected to positively impact the segment's growth.
North America Dominates the Market and May Continue a Similar Trend During the Forecast Period
The United States is expected to be a dominant country contributing to the market's growth during the forecast period (2022-2027). The major factors attributable to this growth are the rising burden of diseases, the rising number of preterm births, and the increasing number of surgeries.
For instance, according to the Centers for Disease Control and Prevention, cancer is the second leading cause of death among Americans. About one in four deaths in the United States is due to cancer. As per the American Cancer Society report, in 2020, there were around 1,806,590 new cases of cancer and 606,520 deaths in the United States.
Moreover, the rate of premature babies born in the United States is higher compared to other developed countries. According to an article published in November 2021, by the Centers for Disease Control and Prevention, in 2020, preterm birth affected 1 in every 10 infants born in the United States. As per the Centers for Disease Control and Prevention data, every six out of 10 adults suffer from some other chronic diseases.
In addition, the geriatric population is more prone to chronic diseases due to weak immune systems. According to the World Ageing Report 2019, the United States had 53,340 million people aged 65 years and above in 2019, and this number is expected to reach 84,813 million by 2050. This expected increase in the elderly population may increase the incidence rate of chronic diseases in the country, thus driving the use of intravenous solutions in their diagnosis and boosting the market.Additionally, the increasing burden of chronic diseases is creating tremendous opportunities for market players. The major market players are focusing on R&D activities to launch new and reliable treatments in the market, which is boosting the market's growth. Hence, the growing burden of chronic diseases and initiatives by market players are expected to boost the growth of the market during the forecast period.
