Intravenous (IV) Solution Manufacturing in the US - Market Research Report (2013-2028)
New York, United States
Last Updated: November 2023
NAICS OD4107Revenue
$2.0bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
28
Businesses
350
Wages
$X.Xbn
Intravenous (IV) Solution Manufacturing in the US industry analysis
Intravenous (IV) solution manufacturers supply hospitals and healthcare facilities with essential IV products. The steady growth in hospital demand and the crucial nature of medical treatments have provided some safeguards against economic downturns. In 2020, when faced with COVID-19 restrictions, industry revenue increased as most hospitalized patients needed IV products. But rising plastic materials and resin costs paired with a decline in overall health expenditure have curbed growth rates. As a result, industry-wide revenue has grown at a modest CAGR of 0.2% to $2.0 billion over the five years to 2023, including a 3.6% bounce back in revenue in 2023 alone.The IV solutions market is concentrated, with more than three-quarters of total revenue generated by the sector's three largest manufacturers (Baxter International Inc., ICU Medical Inc. and B. Braun Medical Inc). Merger and acquisition activities have bolstered vertical integration and helped protect industry profit from escalating purchase costs. As these corporations expand their output and grow vertically, taking over more parts of their supply chain, the per-unit production costs drop and cost savings can be passed to wholesalers, hospitals and healthcare clinics as lower prices.The price control exerted by the industry's leaders has restricted the entry of new producers, but entering niche markets remains economically viable as excess demand and supply shortages occur. In the future, market growth is expected to surpass previous records with the rise in the median age of the US population, continued export growth and strong demand from hospitals driving this surge. Insurance and government programs that fund healthcare will also support growth. Although there are substitutes for IV products, cost savings from production innovations (e.g. robotics and automation) reduce wages and input costs while providing equal or improved quality allowing manufacturers flexibility to adjust pricing to match competitor products' prices. With the number of establishments increasing and prominent manufacturers transforming production, industry revenue is forecast to grow at a more robust CAGR of 3.0% to $2.3 billion over the five years to 2028.
Trends and Insights
- The need for IV solutions products surges with an aging population. The growing need for healthcare services among older Americans, driven by medical advancements and heightened health awareness, propels growth.
- Hospital attendance bolsters orders for intravenous (IV) solutions. Hospitals are the largest market for IV solutions since the product is widely used for various procedures and purposes.
- Freight costs foster a mildly fragmented market. The cost of transporting prepared intravenous (IV) solutions has been an important variable in explaining the existence of a relatively large number of small and medium-sized manufacturers that operate on a state or regional basis.
- More prominent manufacturers will continue to dominate the market. Market concentration is increasing, and manufacturers are expanding capacity and enhancing supply reliability to meet market demands.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has grown at a CAGR of 0.2 % over the past five years, to reach an estimated $2.0bn in 2023.
Trends and Insights
An aging and health-conscious country promotes revenue growth
- The aging US population has increased demand for IV solutions products.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Manufacturers' revenue is pumping
- Intravenous (IV) solution manufacturers are projected to experience steady demand due to the increased incidence of chronic disease from an aging population.
Biggest companies in the Intravenous (IV) Solution Manufacturing in the US
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
Baxter International Inc. | 643.2 | 72.7 | 11.3 | |
B. Braun Medical Inc. | 516.4 | 27.6 | 5.3 | |
Icu Medical, Inc. | 241.2 | 12.4 | 5.1 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Crystalloids, Colloids and Blood products. Crystalloids is the largest segment of the Intravenous (IV) Solution Manufacturing in the US.
Trends and Insights
Crystalloids purchases infuse manufacturers with more revenue
- Crystalloid solutions are water with electrolytes (hypertonic, isotonic or hypotonic) commonly used when fluids, salts and sugars are lost during surgery or as volume expanders.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Brand Name Pharmaceutical Manufacturing in the US
- Generic Pharmaceutical Manufacturing in the US
- Vitamin & Supplement Manufacturing in the US
- Hospitals in the US
International industries
- Global Pharmaceuticals & Medicine Manufacturing
- Pharmaceutical Product Manufacturing in Australia
- Pharmaceutical Preparations Manufacturing in the UK
- Pharmaceutical Preparations Manufacturing in Ireland
- Pharmaceutical Manufacturing in China
Table of Contents
About this industry
Industry definition
Companies in this industry primarily engage in manufacturing substances that may be infused directly into a vein using a venous access device. Intravenous (IV) solutions may be used to correct electrolyte imbalances, to deliver medications, for blood transfusion or as fluid replacement. Solutions specifically for animals are excluded from this industry.
What's included in this industry?
CrystalloidsColloidsBlood productsCompanies
Baxter International Inc.B. Braun Medical Inc. Icu Medical, Inc.Purchase this report to view all 3 major companies in this industry.
Related Terms
CRYSTALLOIDCOLLOIDOXYGEN-BASED SOLUTIONSVP / LVPIndustry Code
NAICS 32541 - Intravenous (IV) Solution Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The need for IV solutions products surges with an aging population. The growing need for healthcare services among older Americans, driven by medical advancements and heighte...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Hospital attendance bolsters orders for intravenous (IV) solutions. Hospitals are the largest market for IV solutions since the product is widely used for various procedures ...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Freight costs foster a mildly fragmented market. The cost of transporting prepared intravenous (IV) solutions has been an important variable in explaining the existence of a ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each state in 2023
- Number and share of revenue each state accounts for in 2023
- Number and share of wages each state accounts for in 2023
- Number and share of employees in each state in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
More prominent manufacturers will continue to dominate the market. Market concentration is increasing, and manufacturers are expanding capacity and enhancing supply reliabili...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
B. Braun Medical has a brawny market share. Braun Medical is considered a disruptor with an increasing share but weaker profit than market peers.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Baxter International Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of B. Braun Medical Inc. 's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Icu Medical, Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
Detailed analysis
- Description and key data for Baxter International Inc., and factors influencing its performance in the industry
- Description and key data for B. Braun Medical Inc. , and factors influencing its performance in the industry
- Description and key data for Icu Medical, Inc., and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Natural disasters highlight supply chain vulnerability. In 2017, Hurricane Maria highlighted the vulnerability of the US IV solution supply and the importance of the governme...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Buyers' purchasing power can influence market price. Substitute products and buyers' participation in group purchasing organizations reduce manufacturers' pricing discretion.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Industry Multiples (2016-2021)
- Industry Tax Structure (2016-2021)
- Income Statement (2016-2021)
- Balance Sheet (2016-2021)
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Intravenous (IV) Solution Manufacturing in the US industry in United States in 2024?
The market size of the Intravenous (IV) Solution Manufacturing in the US industry in United States is $2.0bn in 2024.
How many businesses are there in the Intravenous (IV) Solution Manufacturing in the US industry in 2023?
There are 350 businesses in the Intravenous (IV) Solution Manufacturing in the US industry in United States, which has grown at a CAGR of 4.0 % between 2018 and 2023.
Has the Intravenous (IV) Solution Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Intravenous (IV) Solution Manufacturing in the US industry in United States has been growing at a CAGR of 0.2 % between 2018 and 2023.
What is the forecast growth of the Intravenous (IV) Solution Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Intravenous (IV) Solution Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Intravenous (IV) Solution Manufacturing in the US market in United States?
The biggest companies operating in the Intravenous (IV) Solution Manufacturing market in United States are Baxter International Inc., B. Braun Medical Inc. and Icu Medical, Inc.
What does the Intravenous (IV) Solution Manufacturing in the US in United States include?
Crystalloids and Colloids are part of the Intravenous (IV) Solution Manufacturing in the US industry.
Which companies have the highest market share in the Intravenous (IV) Solution Manufacturing in the US in United States?
The company holding the most market share in United States is Baxter International Inc..
How competitive is the Intravenous (IV) Solution Manufacturing in the US industry in United States?
The level of competition is moderate and steady in the Intravenous (IV) Solution Manufacturing in the US industry in United States.
