San Francisco, 14
November 2018: The global IV solutions market was valued at USD 6.9 billion in 2015 and is
expected to reach a value of USD 13.79 billion by 2024. Key factors driving
market expansion include the rapidly increasing natality rate including a high
percentage of premature births and malnutrition.
Growing incidence rate of
chronic diseases, such as cancer, is also fueling the demand for Total
Parenteral Nutrition (TPN), which forms a vital part of the treatment.
Intravenous nutrition helps sustain strength, maintains hydration levels in
patients, and facilitates faster recovery. Cancer prevalence is forecasted to
grow by 70% over the next few decades. This poses a colossal growth prospect
for the market.
The regulatory bodies
are approving high-quality products complying with faster patient recovery. In
May 2016, Amanta Healthcare received approval for NaCl injection BP and Sterile
water injection BP products. These products obtained Therapeutic Goods
Administration approval granted by the Australian government.
The reimbursement
scenario for IV nutrition is promising. In the U.S., Medicare covers up to 80%
of the expenses of parenteral and enteral nutrition including physician
services, medical equipment, and other related medical services. In the
developing countries, increasing purchasing power compensates for the absence of
reimbursement coverage thus sustaining the growth of this vertical.
Access Research Report
of Intravenous Solutions
Market @ www.grandviewresearch.com/industry-analysis/intravenous-iv-solutions-market
Further Key Findings From the Study Suggest:
· TPN dominated the market in 2015. TPN is
administered to patients who are ‘nil by mouth’ or are afflicted with dysfunctional
digestive systems. Around 2000 elderly deaths occur per annum due to
malnutrition. With rising geriatric population and chronic, but manageable
diseases, the demand for TPN is projected to grow over the forecast period.
· In 2015, North America dominated the market
with a revenue share of around 40%. The region has a large geriatric population
base comprising 45% long-term care residents and 40% hospitalized, elderly
patients suffering from malnutrition. Moreover, in 2014, the region experienced
a sharp shortage of IV fluids due to increased hospitalization of influenza
patients. In response to the deficit, FDA initiatives were directed toward
expediting the application review process and identifying potential new
manufacturers.
· Asia Pacific is expected to emerge as the
fastest growing region. The rising geriatric population in Japan and China,
increasing tendencies of unhealthy food consumption, and low level of awareness
is expected to promote the emergence of IV solutions market in this region.
· Fresenius Kabi AG, Baxter, B. Braun
Melsungen AG, and Hospira are few players operating in the market. Mergers and
acquisitions are certain strategic initiatives undertaken by the companies. For
instance, Claris-Otsuka is a joint venture between Claris Lifesciences Ltd.,
Otsuka Pharmaceutical Co., Ltd., and Mitsui & Co., Ltd., Japan established
in 2012. This joint venture focused on the manufacturing and marketing
activities for IV nutrition products and offers products in various IV delivery
systems.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/medical-devices
Grand View Research has
segmented the IV solutions market by type, nutrients, and region:
Type Outlook (Market revenue in USD Million, 2013 - 2024)
·
Total Parenteral Nutrition (TPN)
·
Peripheral Parenteral Nutrition (PPN)
Nutrient Outlook (Market Revenue in USD Million,
2013 - 2024)
·
Carbohydrates
·
Single dose amino acid solution
·
Vitamins & minerals (salt and
electrolyte)
·
Parenteral lipid emulsion
·
Others (trace elements)
Regional Outlook (Market Revenue in USD Million,
2013 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East and Africa
Access Press Release of
Intravenous Solutions Market@ www.grandviewresearch.com/press-release/global-intravenous-iv-solutions-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
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