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, titled “Global Normal Saline for Parenteral Use Market Size, Share COVID-19 Impact Analysis, By Type (Plastic Bottles and Glass Bottles), By Application (Intramuscular Injection and Intravenous Injection), and Regional Forecast, 2020-2026”.
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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 is0.9% sodium chloride solution, contains the essential ingredients required to reboot a dehydrated body and is thus widely used in healthcare facilities around the world.
The report states that the market value stood at USD 2.88 billion in 2019 and provides the following:
- Worm’s eye-view analysis of the various factors driving and constraining the market;
- Panoramic overview of the current industry outlook and trends;
- Granular examination of all market segments; and
- Comprehensive evaluation of the regional developments and competitive dynamics of the market.
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Cancelation of Surgeries amid COVID-19 to Negatively Impact the Market
With 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 normal saline for parenteral use market growth further. 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 Position
At 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.
Supportive Regulatory Climate for Novel Solutions to Stoke Innovation
Key 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.
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.
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List of Key Companies Profiled in the Normal Saline for Parenteral Use Market Report:
- 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)
- Braun Melsungen AG (Melsungen, Germany)
- Baxter (Illinois, U.S.)
- SSY Group Limited (Hong Kong)
Table Of Content :
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Market Drivers
- Market Restraints
- Market Opportunities
- Number of Hospital Admissions, By Key Countries/Regions
- Prevalence of Key Diseases, By Key Countries/Regions
- IV Fluid Shortages in the U.S. – Key Reasons
- Impact of COVID-19 on the Market
Global Normal Saline for Parenteral Use Market Segmentation :
Segments Covered in the Report
- Plastic Bottles
- Glass Bottles
- Intramuscular Injection
- Intravenous Injection
- North America
- By Type
- By Application
- By Country
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