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”.
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.
Major Normal Saline for Parenteral Use Market Key players covered in the report include:
- 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)
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Our research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers and acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
It offers figurative estimations for upcoming years on the basis of the recent developments and historic data. For gathering information and estimating revenue for all segments, researchers have used top-down and bottom-up approaches. On the basis of data collected from primary and secondary research and trusted data sources the report will help both existing and new aspirants for market to figure out and study the market’s needs, market size, and competition.
Normal Saline for Parenteral Use Market Analysis 2021:
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.
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.
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