Normal Saline for Parenteral Use Market to Hit USD 3.71 Billion by 2026; Increasing Demand for Effective Fluid Solutions for Admitted Patients to Fuel Growth: Fortune Business Insights™

Pune, India, Jan. 11, 2021 (GLOBE NEWSWIRE) — The global normal saline for parenteral use market size is projected to reach USD 3.71 billion by 2026, exhibiting a CAGR of 5.4% during the forecast period. Increasing prevalence of diarrhea worldwide will be a prominent growth driver for this market, shares Fortune Business Insights™ in its report. According to the World Health Organization (WHO), diarrhea is the second leading cause of death in children under five years of age, killing around 525,000 children under five every year. The WHO estimates that there are approximately 1.7 billion cases of childhood diarrhea each year, globally.Diarrhea lasts for several days and depletes the body’s water and mineral resources, leaving the patient severely dehydrated. The complications can get aggravated in children whose bodies cannot withstand the effects of such diseases. Normal saline for parenteral use is the quickest and the most efficient way of injecting a diarrheal patient’s body with the necessary fluids and prevent imminent death. Saline, which is 0.9% sodium chloride solution, contains the essential ingredients required to reboot a dehydrated body and is thus widely used in healthcare facilities around the world.
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Cancelation of Surgeries amid COVID-19 to Negatively Impact the MarketWith coronavirus cases continuing their upward spiral across the globe, the provision of surgical services, especially elective ones, has plunged. A 120-country research initiative, led by the University of Birmingham, called the CovidSurg Collaborative estimates that nearly 28.4 million elective surgeries worldwide are likely to get canceled or deferred in 2020. This will mainly be a result of governments redirecting their medical and health resources towards treating COVID-19 patients and preventing hospitals from getting overwhelmed with the escalating number of infections.In the UK, for example, the National Health Service (NHS) issued a directive in April to hospitals that led to the cancelation of over 2.1 million routine surgeries across the country, as the NHS prepared to tackle the impending coronavirus peak. The steep decline in surgeries has led to considerable revenue shortfalls for market companies, impacting the market growth of normal saline for parenteral use. For example, ICU Medical’s gross profit in the third quarter of 2020 was 36% as compared to 39% in 2019.
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Robust Healthcare Facilities to Bolster North America’s Leading Market PositionAt USD 1.10 billion, North America dominated the normal saline for parenteral use market share in 2019 and is expected to retain its commanding position throughout the forecast period. This will be mainly because of the strong and well-established healthcare infrastructure in the US and Canada. Manufacturers in the region have also been aggressively expanding their production capacities to cater to the growing demand for saline owing to the increasing number of inpatient hospital admissions.In Asia Pacific, the primary growth determinants for the market are the rapidly expanding patient population and improving healthcare facilities. Strong support from regulatory authorities in the European Union (EU) will aid market growth in Europe.
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Supportive Regulatory Climate for Novel Solutions to Stoke InnovationKey players in this market are capitalizing on the favorable regulatory climate for normal saline products. Regulatory bodies such as the US Food and Drug Administration (FDA) are giving timely approvals to IV solutions to empower hospitals to efficiently deal with emergency health situations and improve patient outcomes.Industry Developments:July 2019: Baxter International received approval from the US FDA for its Insulin Human in 0.9% Sodium Chloride Injection, Myxredlin. The injection is the first and only ready-to-use insulin for IV infusion in health facilities, featuring an extended shelf-life of 30 days at room temperature.January 2018: B. Braun Medical secured clearance for its 0.9% Sodium Chloride Injection, the Ecoflac™ Plus, from the US FDA. With this intravenous solution, B. Braun has expanded its current line of IV options for the administration of normal saline.
List of Key Companies Profiled in this Market Report of Normal Saline for Parenteral Use:Pharmally International Holding Co., Ltd. ( Shangdong, China)Otsuka Pharmaceutical Co., Ltd. (Tokyo, Japan)ICU Medical (Illinois, U.S.)Fresenius Kabi AG (Bad Homburg, Germany)Kelun Group (Sichuan, China)Cisen Pharmaceutical Co., Ltd. (Shangdong, China)Double-Crane Pharmaceutical Co., Ltd. (China)B. Braun Melsungen AG (Melsungen, Germany)Baxter (Illinois, U.S.)SSY Group Limited (Hong Kong)
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Table of Contents:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsNumber of Hospital Admissions, By Key Countries/RegionsPrevalence of Key Diseases, By Key Countries/RegionsIV Fluid Shortages in the U.S. – Key ReasonsImpact of COVID-19 on the MarketGlobal Normal Saline for Parenteral Use Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Analysis, Insights and Forecast – By TypePlastic BottlesGlass BottlesMarket Analysis, Insights and Forecast – By ApplicationIntramuscular InjectionIntravenous InjectionMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia PacificLatin AmericaMiddle East & Africa
TOC Continued….!
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companiesDetails in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facilityNumber of procedures and average price of proceduresReplacement rate and pricing of capital equipmentMarket dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunitiesMarket & technological trends, new product developments, product pipeline.
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