New York, March 27, 2023 (GLOBE NEWSWIRE) -- Market Overview:
The large volume parenteral is highly crucial for people with chronic illness as oral intake is difficult for them hence provided with therapeutic injections for providing nutrition to the body. Globally, the production of high-quality injections is being significantly enhanced by rising demand of nutritional injections and therapeutic injections. Frequent recalls can hamper the growth of the large volume parenteral market.
Market Size Growth Rate:
According to the DataM market research report, the global large volume parenteral (LVP) market size was valued at US$ billion in 2022, it is projected to reach US$ 13.49 billion by 2030, with growth at a CAGR of 6.2% over the forecast period 2023-2030. Europe is estimated to contribute 27.6% to the growth of the global market over the forecast period.
Aqueous solutions are typically administered in amounts ranging from 100 ml to 5,000 ml as large volume parenterals or large volume injections. Typically, LVPs are employed to deliver fluid replacement therapy. Subcutaneous, intraperitoneal, and intravenous delivery methods are all possible. Globally, the production of large volume injections is being driven by increasing demand of nutritional as well as therapeutic injections. People all over the world are utilizing nutritional injections for maintaining their overall body nutrition.
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Market Drivers:
The increasing nutritional deficiencies in people across the globe will probably drive the large volume parenteral (LVP) market over the predicted timeframe. These large volumes parenteral are found in various volumes starting from 100ml to more than 2000ml. Increasing number of surgical procedures is also a leading factor that may enhance the market’s growth.
The highly utilized way to provide nutrition to a person is parenteral route of administration as it is the fastest administration route via which the medicine or nutrient can reach all over the body. Hence during the surgical procedures these large volume parenteral injections are highly utilized in hospitals or clinics.
Market Restraints:
It is anticipated that the frequent recalls for these large volume parenteral (LVP) injections, challenges in the formulation of these parenteral injections and lack of awareness among the community may hamper its growth. The lack of awareness of the large volume parenteral (LVP) among middle or low income countries is high, as people doesn’t focus on nutritional deficiency.
Lack of awareness among people leads to nutritional deficiencies, which further leads to health issues or chronic disorders. Frequent recalls for these large volume injections due to high particulate matter contamination is also a common factor which can retrain the market’s growth.
Market Opportunities:
The growing awareness of these large volume parenteral injections is anticipated to open up several new market opportunities. The demand of nutrition will increase in upcoming years which will ultimately create various opportunities for nutritional injections.
The market for large volume parenteral (LVP) is expanding due to rising public knowledge of importance of large volume parenteral (LVP)' for nutrition administration specially during surgical procedures. Additionally, the rise in nutrient deficiencies in population worldwide and surging chronic disorders is anticipated to boost market expansion during the projection period.
Market Trend:
Nutritional injections segment is estimated to contribute 33.8% to the growth of the global market over the forecast period. People are focusing more on their overall health and nutrition which will soon become a trend and will enhance the demand of these large volume parenteral nutritional injections in the market.
COVID-19 Impact Analysis:
The COVID-19 pandemic affected the large volume parenteral (LVP) market strongly. Since 2019, the worldwide crisis caused by the COVID-19 pandemic has majorly impacted most industries. The COVID-19 pandemic affected many economies around the globe in 2021. Many combat measures, like complete lockdowns and quarantine for two consecutive years, 2020 and 2021, to fight COVID-19, have strongly affected many industries worldwide, including a portion of the healthcare industry.
Mainly in the healthcare sector, several medical device and pharmaceutical have registered a strong slowdown in sales in 2020 and the first quarter of 2021 due to the disturbance in logistics and transportation in many countries. Along with these, the large volume parenteral market registered disruptions in the entire sector's value chain from raw materials supply to manufacturing, packaging and distribution.
Recent Developments in the Industry:
- 1. In December 12, 2022, According to Baxter International Inc., a company focused on nutrition therapy, ExactaMix Pro Automated Compounder will go on sale to customers in the U.S. in early 2023. The U.S. Food and Drug Administration have officially authorized ExactaMix Pro as the first and only automated compounder (FDA).
- In May 4, 2022, Ivenix, Inc., a business that specialises in infusion therapy, was successfully acquired by Fresenius Kabi. Ivenix expands Fresenius Kabi's portfolio by offering a next-generation infusion therapy solution for the enormous U.S. market and gives the company crucial skills in hospital communication and interoperability.
- In January 28, 2021, Berry Global Healthcare announced that Cyrano, the lightest dual-port blow fill seal closure, is to be accessible for large volume parenteral applications. It is up to 64% lighter than competing products. The new lightweight Cyrano offers a safe and user-friendly solution for all kinds of intravenous or infusion systems in hospitals, as well as an important environmental advantage through the reduction in overall plastic usage.
Market Segmentation:
As per the research analysis, the global large volume parenteral (LVP) market is segmented by Volume into 250 ml - 500 ml, 100 ml - 250 ml, 500 ml - 1000 ml & 1000 ml - 2000 ml, 2000 ml and more, by application nutritious injections, fluid balance injections & therapeutic injection, by type of packaging into bottles and bags.
- Based on application, the nutritious injections segment is estimated to hold a significant market share in the forecast period (2023-2030). Nutritious injection is one of the most important large volume parenteral (LVP) applications in the global market, as it is essential for the growth and development of people who can’t take nutrition orally. When it comes to replenishing the essential vitamins and nutrients your body requires, nutrition injections are an option to oral vitamins. It works well to promote wellness overall, immune system support, and energy levels.
Geographical Classification:
The global large volume parenteral (LVP) market is segmented into major countries, including North America, Europe, South America, Asia Pacific and Middle East & Africa.
Asia-Pacific Large Volume Parenteral (LVP) Market:
Asia-Pacific is witnessing major demand for therapeutic injections owing to increasing number of surgical procedures which require a faster way of drug or nutrition administration. The countries of Asia-Pacific are undergoing rapid economic progression, with an added focus on urbanization and infrastructural development, which has resulted in an overall increase in health issues. The increase in health disorders is thus increasing the use of parenteral injections. The lack of knowledge of the proper application of parenteral injections might hamper the growth rate of large volume parenteral in the region.
North America Large Volume Parenteral (LVP) Market:
The increased population with severe chronic disorders, coupled with the demand for treatment, is a significant factor contributing to the growth of the large volume parenteral (LVP) market in U.S. It has led to the increase in the application of large volume parenteral (LVP). With the rise of number of disorders and the desire for providing better treatment, there is an increased demand for nutritional or therapeutic injections to boost the overall health of a person.
Europe Large Volume Parenteral (LVP) Market:
One of the major trends in the European large volume parenteral (LVP) market is the dramatic increase in the demand of nutrition in the last five years. The significant increase in these large volume parenteral injections coincides with Europe's widespread adoption of parenteral injectable for treatment or therapy purpose. The growing population and the increase in the disposable income of the community in Germany have increased the consumption of nutritional injectable.
Competitive Analysis:
There are numerous international, regional and local suppliers in the global large volume parenteral (LVP) industry. The competition in the local market is fierce. The vendors compete based on price, product quality, and dependability. As a result, to prosper and survive in a competitive market, suppliers must provide cost-efficient and effective products.
Major Companies:
Major key companies working towards the market's growth include B. Braun Melsungen AG, Fresenius Kabi AG, Baxter Healthcare Corporation, Pfizer, Inc., Grifols, S.A., BML Parenteral Drugs, Otsuka Pharmaceutical Factory, Inc., China Resources Pharmaceutical Group Co., Ltd., Beximco Pharma and Ozon Pharmaceuticals and others.
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The Full Report has the below insights:
- The report offers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable projections about market size during the forecast period (2023-2030).
- Visualize the composition of the global large volume parenteral (LVP) market segmentation by volume, application, type of packaging and region, highlighting the key commercial assets and players.
- By Volume: 250 ml - 500 ml, 100 ml - 250 ml, 500 ml - 1000 ml, 1000 ml - 2000 ml, 2000 ml and more
- By Application: Nutritious Injections, Fluid Balance Injections, Therapeutic Injection
- By Type of Packaging: Bottles, and Bags
- By Region: North America, South America, Europe, Asia Pacific, Middle East & Africa
- Identify commercial opportunities in the global large volume parenteral (LVP) market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as, porter's five forces analysis, supply chain analysis, pricing analysis, regulatory analysis.
- Excel data sheet with thousands of data points of global large volume parenteral (LVP) market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
- The report will provide access to approximately 61 market data tables, 64 figures and close to 180 pages.
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