Normal Saline for Parenteral Use Market Size to Surpass USD 5.48 Billion by 2030, exhibiting a CAGR of 6.9%
As per the report by Fortune Business Insights, the global normal saline for parenteral use market size is projected to reach USD 5.48 billion in 2030, at a CAGR of 6.9% during the forecast period, 2023-2030
Normal Saline for Parenteral Use Market
Pune, India, Oct. 18, 2023 (GLOBE NEWSWIRE) — The normal saline for parenteral use market size expected to expand from USD 3.44 billion in 2023 to USD 5.48 billion by 2030, exhibiting a CAGR of 6.9% over the study period. Expansion can be credited to growing government recommendations and regulations for deployment of 0.9% sodium chloride and fluid resuscitation in severe conditions.
Fortune Business Insights™ provides this information in its research report titled “Normal Saline for Parenteral Use Market, 2023-2030”.
Key Industry Development:
August 2020 – ICU Medical, Inc. inked a long-term deal with Grifols for the distribution of non-PVC/non-DEHP IV containers for 0.9% NaCl Injection, USP to the U.S. people.
- The flu season has led to a rise in the need for intravenous saline products, essential for hydrating and administering medications to hospitalized patients.
- Increasing uptake of saline across various medical specialties in hospitals and clinics is a major factor bolstering the market growth.
- The segment is expected to grow at a considerable CAGR during 2023-2030
- The North American market stood at USD 1.26 billion in 2022.
List of Key Players Mentioned in the Report:
“Companies leading the normal saline for parenteral use market are Baxter (U.S.), Kelun Group (China), B. Braun Melsungen AG (Germany), Fresenius Kabi AG (Germany), SSY Group Limited (China), ICU Medical (U.S.), Double-Crane Pharmaceutical Co., Ltd. (China), Otsuka Pharmaceutical Co., Ltd. (Japan), Cisen Pharmaceutical Co., Ltd. (China), Pharmally International Holding Co., Ltd. (China)”
|Forecast Period||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR||6.9%|
|2030 Value Projection||USD 5.48 Billion|
|Market Size in 2022||USD 3.24 Billion|
|Historical Data||2019 to 2021|
|No. of Pages||118|
|Segments covered||By Type, By Application, and Region|
Browse Complete Report Details: https://www.fortunebusinessinsights.com/normal-saline-for-parenteral-use-market-104520
Increasing Preference for Plastic Bottles to Proliferate the Segment Expansion
On the basis of type, the market is bifurcated into glass bottles and plastic bottles. The plastic bottles segment is expected to account for the largest normal saline for parenteral use market share during the forecast period. The plastic bottles are increasingly preferred over glass bottles for the prevention of breakage during distribution. This factor is impelling the segment expansion.
Increasing Prevalence of Diarrhea to Fuel the Intravenous Segment Growth
With respect to application, the market is divided into intravenous injection and intramuscular injection. The intravenous segment held the largest market share in 2022. The surging occurrence of diarrhea, food poisoning, and vomiting is accelerating the segment growth.
From the regional perspective, the market is divided into the Asia Pacific, North America, the Middle East & Africa, Europe, and Latin America.
- Plastic Bottles
- Glass Bottles
- Intramuscular injection
- Intravenous injection
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Quick Buy – Normal Saline for Parenteral Use Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/104520
Drivers and Restraints:
Growing Number of Surgeries and Hospitalizations to Escalate the Market Growth
One of the major factors impelling the normal saline for parenteral use market growth is the growth in the number of hospital admissions and surgical procedures. Due to the growing number of hospitalizations in NICUs and ICUs, the demand for the solution has increased.
The increasing number of hospital admissions in ICUs and NICUs has resulted in an increased demand for normal saline for parenteral use.
Despite such growth opportunities, research stating the substitution of saline with balanced fluids may impede the market growth.
North America Dominated Due to the Growing Adoption of 0.9% NaCl
North America market for normal saline for parenteral use accounted for the largest share in 2022. The surging deployment of 0.9% NaCl is bolstering the regional growth.
The Asia Pacific market is poised to register the second leading position during the forecast period on account of the rising geriatric population.
Notable Companies Focus on Partnerships to Strengthen Their Market Position
The leading normal saline for parenteral use market players are deploying different strategic initiatives such as product innovations, mergers and acquisitions, joint ventures, and others. Notable companies are also focusing on entering partnerships to maximize their revenue.
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How big is the normal saline for parenteral use market?
Normal saline for parenteral use market size is USD 3.44 billion in 2023 and it is expected to reach USD 5.48 billion in 2030.
How fast is the normal saline for parenteral use market growing?
The normal saline for parenteral use market will exhibit a CAGR of 6.9% during the forecast period, 2023-2030.
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