Physiological Saline Market Outlook - 2027
Physiological saline is a mix of chemical constituents including sodium chloride and water. Saline belongs to the crystalloid family of drugs. Physiological saline has a number of uses in medicine. It can be applied to the affected part of skin for cleaning wounds, skin abrasions, aid in removal of contact lenses, and help with conditions like dry eyes. It is extensively used in treating conditions like dehydration causing due to diabetic ketoacidosis and gastroenteritis by injecting this solution intra-vein. Physiological saline solution is also utilized in dilution of other medications to be administered by liquid injection form. It is often implemented against common cold as the solution exerts a loosening effect on the mucus, thereby clearing the nasal passage and relieving symptoms for both adults and infants. Owing to multi-applicability, physiological saline is also included in the World Health Organization's List of Essential Medicines, as the safest and most effective medicines needed in a health system.
COVID – 19 scenario analysis:
- The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
- Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
- Over 4 million people affected globally, with over 300 thousand losing their lives due to SARS-CoV-2
- Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers
- Due to diversion of medical field towards treating COVID-19, this segment have to face negligence subsequently causing negative impact on physiological saline market
- However, physiological saline being one of the most basic and crucial medication that is required in the health system, the demand for these saline solutions would always prevail
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The growing prevalence of several disorders and chronic diseases including cancer, diabetes, and other acute health conditions like common cold, skin burns and others are the primary factors surging the demand for physiological saline in the global market. Various types of cancer and other diseases induce severe health complications and restrict the daily operations of the body. As a result, patients suffering with such diseases require critical assessment of their health status and have to be admitted into hospitals often. This scenario would have a positive impact on the physiological saline industry.
Furthermore, healthy regulatory scenario in the developed countries and rising numbers of healthcare facilities coupled with increasing healthcare expenditure in the past decades would boost the market growth for physiological saline globally. Several major regulatory bodies including the U.S. FDA and EU Commission have implemented various regulatory guidelines and laws that provide quality assurance of the physiological saline available in the market. Industry players operating in saline segment have to abide to these guidelines and manufacture products, thereby reducing manufacturing defects related to physiological saline.
However, the rising costs related to physiological saline owing to the increase in the costs of raw materials, ban on plastic in various parts, pushing the market players to increases prices for saline solutions are the factors that may potentially cause hindrances for the physiological saline market growth. Additionally, incompatibility of a few physiological saline bags with some of the medications may further restrain the business growth.
Increasing number of hospitals and growing pharmaceutical sector
The number of hospitals, surgical centers, and clinics is rising day by day. In a study conducted regarding spend on global healthcare globally was 10.4% of total GDP was spent on healthcare and this number would go on increasing with 10.5% spent in 2020. The rising number of hospitals is majorly seen in developing economies like India and China. The pharmaceutical sector is experiencing tremendous growth. The sector has grown exponentially from USD 100 billion in 2017 to USD 1.2 trillion and is expected to reach USD 1.5 trillion by 2023 growing at a CAGR of 4-5%. This increase in number of hospitals and rising healthcare expenditure in order to upgrade infrastructure and provide low cost healthcare facilities would fuel the physiological saline market in coming years.
Increasing prevalence of diseases and healthcare expenditure
According to the statistics published by world health organization (WHO), there has been immense increase in chronic diseases worldwide. In 2001, chronic diseases accounted for almost 60% of the 56.5 million reported deaths with approximately 46% of the burden of disease worldwide. Non-communicable diseases (NCDs) are expected to increase up to 57% by 2020. As per a research report by the World Health Organization (WHO), in low- and middle-income countries, around 70% of deaths occurs due to cancer. The geriatric population is expected to rise by 22% by the year 2050, according to WHO. In addition, Organization for Economic Co-operation and Development (OECD) survey report, stated in 2018 average per capita health expenditure in the U.S. was about USD 10,586. These factors, collectively would create immense opportunities for growth of physiological saline in the global market.
The efforts taken for enhancing the quality of healthcare services, increasing incidences of chronic diseases and growing utilization of physiological saline are factors that would facilitate the market growth.
Key benefits of the report:
- This study presents the analytical depiction of the global physiological saline industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global physiological saline market share.
- The current market is quantitatively analyzed to highlight the global physiological saline market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global physiological saline market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Physiological saline Market research report:
- What are the leading market players active in the physiological saline market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Physiological Saline Market Report Highlights
By Product Type
By End Users
Key Market Players
Denis Chem Lab Limited, Cisen, SSY Group, Fresenius Kabi, B. Braun, Otsuka, Baxter, Kelun Group, Hospira (Pfizer), CR Double-Cran