Press release
lobal Normal Saline for Parenteral Use Market Size to Grow at a CAGR of 5.50% in the Forecast Period of 2023-2028
Normal Saline for Parenteral Use Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 3.2 billion
• Forecast CAGR (2023-2028): 5.50%
• Forecast Market Size (2028): USD 4.42 billion
A significant growth factor for the normal saline for parenteral use market will be the rising prevalence of diarrhoea around the world. The body's water and mineral reserves are depleted due to diarrhoea, leaving the patient at risk of dehydration. Children whose bodies cannot endure the impact of such disorders may experience worsening consequences. The quickest and most effective way to give a diarrheal patient the fluids they need to stay alive is through parenteral administration of normal saline. A 0.9% sodium chloride solution is typically used as saline in medical facilities all over the world because it has the necessary components to replenish a dehydrated body.
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The rising incidence of lifestyle-related conditions such hypovolemia, severe dehydration, musculoskeletal injuries, and food poisoning, among others, are supporting the expansion of the global normal saline for parenteral use market. The demand for normal saline for parenteral use in hospitals and ambulatory surgical facilities is rising as a result of the growing geriatric population and the associated rise in hospitalisation rates. In addition, rising general surgery rates, increased healthcare awareness, and favourable reimbursement practises by various governments are some of the key factors boosting the normal saline for parenteral use market growth.
Normal Saline for Parenteral Use Industry Definition and Major Segments
Normal saline for parenteral use refers to an intravenous or intramuscular injection solution created for the replacement of fluids and electrolytes. This medicine is a member of the crystalloid fluid drug class. Regular saline is tested rigorously and kept in a flexible container. It can be given to children, adults, and elderly people.
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Based on type, the market can be segmented into:
• Plastic Bottles
• Glass Bottles
The market on the basis of application can be divided into:
• Intramuscular Injection
• Intravenous Injection
On the basis of region, the market can be segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Normal Saline for Parenteral Use Market Trends
The key market trends for normal saline for parenteral use are robust investments in new advancements. Applications for normal saline are expanding due to the development of specialised formulations for niche markets. Additionally, increasing regulatory authority approvals are enhancing the product's sales.
In the historical period, North America accounted for a healthy share in the normal saline for parenteral use market, and it is anticipated that it will continue to hold a strong position throughout the projected period. The robust and established healthcare infrastructure in the United States and Canada are assessed to be a major contributing factor in the market growth.
One of the key trends in North America is the rising prevalence of lifestyle-related problems among working adults, such as nausea, food poisoning, dehydration, and malnourishment. In order to meet the rising demand for saline as a result of the rising number of inpatient hospital admissions, manufacturers in the area have also been boosting their production capacity.
In the Asia Pacific, rapid patient population increase and developing healthcare infrastructure are contributing to the market's growth whereas market expansion in Europe will be aided by the strong backing of regulatory bodies of the European Union (EU).
Key Market Players
The major players in the global normal saline for parenteral use market report are
• Baxter International, Inc
• Pfizer Inc
• Otsuka Pharmaceutical Co., Ltd.
• ICU Medical, Inc
• Sichuan Kelun Pharmaceutical Co., Ltd.
• Braun Melsungen AG
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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