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Rehydrating Solutions: The Boom of Intravenous (IV) Therapy Services
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According to The Business Research Company's, The intravenous (iv) hydration therapy market size has grown strongly in recent years. It will grow from $2.57 billion in 2023 to $2.8 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to medical treatments and procedures, athletic and sports performance, clinical management of dehydration, recovery from illnesses, mobile and concierge services.
The intravenous (iv) hydration therapy market size is expected to see strong growth in the next few years. It will grow to $3.92 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to consumer-centric personalization, integration into corporate wellness programs, preventive health measures, growth in fitness and wellness tourism, aging population demands. Major trends in the forecast period include ethical and sustainable sourcing, holistic health retreats, hydration bars and lounges, focus on mental wellness.
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Market Drivers and Trends:
The rise in the prevalence of chronic diseases is expected to propel the growth of the intravenous (IV) hydration therapy market going forward. Intravenous (IV) hydration therapy provides vitamins, and other essential nutrients resulting in a massive energy boost for patients suffering from chronic diseases. For instance, in September 2022, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases every year globally. There were 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Therefore, the rise in the prevalence of chronic diseases is driving the growth of the intravenous (IV) hydration therapy market.
Product innovation is a key trend gaining popularity in the intravenous (IV) hydration therapy market. Major companies operating in the intravenous (IV) hydration therapy market are adopting new technologies to sustain their position in the market. For instance, in September 2022, Concierge Medical Consultants Inc, a Canada-based group of board-certified physicians who provide private, discreet, and personalized healthcare, introduced Intravenous Vitamin Therapy (IV Therapy) to its services in Toronto and Vancouver. It includes a new IV hydration service with six variations of Vitamindrip products: hydration, recovery, energy, cosmetics, diet and detox, and immune boost. Vitamin drip is a scientifically formulated intravenous solution that effectively treats dehydration, including migraines, acute muscle spasms, asthma, upper respiratory tract infections, chronic sinusitis, seasonal allergic rhinitis, and other disorders.
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Major Key Players of the Market:
Revitalist, JW Life Science Corporation, NextGen Healthcare, B. Braun Medical Inc., Pfizer Inc., Fresenius Kabi AG, Liquid IV, Medtronic Plc., Drip Hydration, Amanta Healthcare Ltd., Becton Dickinson and Company, Elixir, Baxter International Inc., Otsuka Pharmaceutical Co. Ltd., Sippex IV bag, REVIV, Braun Melsungen AG, The IV Doc Inc., Terumo Medical Corporation, Grifols S.A., Harpal Clinic Ltd., Fosmo Med, Core IV Therapy LLC, Cryojuvenate UK Ltd., Hospira, Teleflex Incorporated, Sichuan Kelun Pharmaceutical Co.Ltd., ICU Medical Inc., Vygon SAS, Vifor Pharma Management AG.
Intravenous (IV) Hydration Therapy Market 2024 Key Insights:
• The intravenous (iv) hydration therapy market size is expected to see strong growth in the next few years. It will grow to $3.92 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
• Rising Prevalence Of Chronic Diseases Fuels Growth In The Intravenous (IV) Hydration Therapy Market
• Product Innovation Drives Intravenous (IV) Hydration Therapy Market
• North America was the largest region in the intravenous (IV) hydration therapy market in 2023
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