Small Volume Parenteral Market to Grow with a CAGR of 7.10% through 2028
Technological advancements and the demand for home
healthcare is expected to drive the Global Small Volume Parenteral Market
growth in the forecast period, 2024-2028.
According to TechSci Research report, “Small Volume
Parenteral Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Small Volume Parenteral Market
stood at USD 167.97 billion in 2022 and is anticipated to grow with a CAGR of 7.10%
in the forecast period, 2024-2028. This can be attributed to growing global
healthcare expenditure. Governments and private entities around the world are
increasing their healthcare expenditure to meet the growing demand for medical
services. This financial commitment to the healthcare sector is fostering the
growth of the SVP market, as healthcare facilities have more resources to
invest in these essential intravenous solutions.
Furthermore, quality control and traceability are
becoming paramount in the pharmaceutical industry, and the SVP market is no
exception. Advancements in tracking technologies, such as blockchain and RFID,
are being integrated to improve the traceability of SVP products from
manufacturing to patient administration. These technologies enhance patient
safety and streamline regulatory compliance.
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The demand for small-volume parenteral (SVP) products
has experienced a steady increase, primarily driven by the rising incidence of
chronic diseases and the necessity for intravenous medications within
healthcare facilities. The expanding elderly population, particularly in
developed nations, has led to a heightened demand for medical interventions.
SVPs are preferred for their ease of administration and precise dosing, factors
contributing to their growing market demand. Additionally, advancements in pharmaceutical
manufacturing processes and packaging technologies have enhanced the safety,
quality, and shelf life of SVPs, making them more dependable for healthcare
providers and patients. These improvements also enable more accurate and
consistent SVP production, ensuring that each dose contains the intended amount
of active pharmaceutical ingredients. This heightened precision in dosing
positively influences treatment outcomes and patient safety, thereby
contributing to market growth.
Furthermore, the growth of biopharmaceuticals and
personalized medicine has fueled the demand for SVPs as they enable the safe
and accurate delivery of these specialized medications. Moreover, the
increasing elderly population plays a significant role in driving the global
market's growth.
According to a United Nations report, the global
population of individuals aged 60 and above is projected to increase
significantly, from 962 million in 2017 to 2.1 billion by 2050 and 3.1 billion
by 2100. This demographic shift results in a higher prevalence of chronic
diseases and conditions that necessitate ongoing medical treatment, often
involving injectable medications and fluids. Elderly individuals typically face
a higher likelihood of hospitalization and may require specialized care that
includes SVP products for various therapies. This demographic trend not only
elevates the overall demand for SVP products but also encourages innovation in
the development of targeted therapies and delivery systems tailored to the
unique healthcare needs of older adults.
The Global Small Volume Parenteral Market is segmented
into form, type, packaging, indication, regional distribution, and company.
Based on its packaging, Ampoules were the prevailing
choice, securing the highest revenue share in 2022. This dominance is projected
to persist throughout the forecast period. Ampoules are favored for their
precise and hermetically sealed packaging, guaranteeing accurate dosage
administration and minimizing the potential for contamination. Their single-use
design contributes to patient safety by preventing cross-contamination.
Ampoules also align with the increasing demand for
convenient, ready-to-administer drug delivery solutions, particularly in
emergency and clinical settings. These factors, combined with the global
emphasis on sterile packaging and efficient drug delivery, are propelling the
growth of this segment.
Based on indication, the "others" segment
emerged as the dominant category within the market in 2022. This segment
primarily encompasses conditions such as Crohn's disease, cystic fibrosis,
pancreatitis, other cancer-related treatments, and various other health ailments.
Patients undergoing intensive treatments, including radiation therapy,
immunotherapy, and medication, often experience severe nutritional deficiencies
due to metabolic changes, loss of appetite, and alterations in their immune
system. Notably, significant weight loss is a prominent physical change
observed in such patients. Consequently, Single-Volume Parenteral (SVP)
solutions are recommended for these patients to help restore their nutritional
balance. Thus, the increasing prevalence of various conditions where SVPs play
a crucial role in addressing nutritional imbalances is propelling the growth of
this segment.
However, it is anticipated that the dysphagia segment
will experience the most rapid growth during the forecast period, primarily due
to the high prevalence of this condition. According to a 2022 article published
in MDPI, the prevalence of dysphagia among elderly nursing home residents was
approximately 58.69%, as determined by the Standard Swallowing Assessment
(SSA). Additionally, the prevalence of dysphagia among the elderly residing in
the community was estimated to be around 30.52%. Dysphagia often leads to
complications such as aspiration pneumonia, necessitating the use of parenteral
nutrition, thereby positively influencing market growth.
Major companies operating in Global Small Volume
Parenteral Market are:
- BML Parenteral Drugs
- Rusoma Laboratories Pvt Ltd
- B Braun Melsungen AG
- Fresenius Kabi AG
- Baxter International Inc.
- Sichuan Kelun Pharmaceutical Co Ltd
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“The global Small Volume Parenteral market is experiencing
a transformative phase, driven by the convergence of the emerging trends.
Personalized medication compounding, technological advancements, sustainability
initiatives, the growth of home healthcare, specialized formulations, global
expansion, and enhanced quality control are all shaping the future of the SVP
market. As healthcare continues to advance and patient-centric care becomes the
norm, SVP solutions are set to play an even more pivotal role in the
administration of intravenous medications, offering precise and efficient
treatment options to patients around the world. Manufacturers and suppliers in
the SVP market must remain agile, adapting to these trends to meet the evolving
needs of the healthcare industry,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based management consulting firm.
“Global Small Volume Parenteral Market By Form
(Liquid, Dry), By Type (Single-dose, Multiple-dose), By Packaging (Ampoules,
Vials, Pre-filled Syringes, Cartridges, Bottles, Others), By Indication (Pain
Management, Cancer Care, Malnourishment, Gastrointestinal Disorder/Diarrhea,
Diabetes, Others), By Region, By
Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Small Volume Parenteral Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Small Volume Parenteral Market.
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