(MENAFN- America News Hour) The global large volume parenteral (lvp) market is projected to expand at a CAGR of 6.1%. Rising number of surgeries, need for a faster route of drug administration, growing preference for single dose administration of vaccines and drugs, and increase in local manufacturing is expected to drive the market for LVP.
Increasing patient pool suffering from chronic disease is one of the major drivers in the large volume parenteral market. As per the National Cancer Institute, in 2019, around 1.8 million people diagnosed with cancer in the United States. These patients must need a proper balance of vital nutrients that help in maintaining the hydration level, energy, and strength. Parenteral route of administration helps provide accurate dose of medication as majority of the drug is directly absorbed in circulation, bypassing the gastrointestinal tract. Therefore, target disease act as a vital factor to surge market growth throughout the forecast period.
Get a Sample Copy of this Report with Graphs and Charts:
Moreover, individuals and healthcare authorities are paying extensive focus on limiting the mortality rate due to early birth and are thereby propelling the use of large volume parenteral. Ongoing developments in health insurance and medical technology can also boost the pharma industry by eliminating financial and physical barriers to healthcare access, thereby surging the market growth.
However, challenges in formulation of large volume parenteral such as achieving drug substance and excipient compatibility may restrict the market.
Key Market Trends
The Nutritious Injections Segment Dominates the Market and is Expected to Continue the Same during the Forecast Period
– The nutritious injections by application segment is expected to dominate of the global large volume parenteral market through the forecast period owing to growing applications in the geriatric and pediatric population coupled with its requirement in the management of chronic diseases such as ulcerative colitis and cancer. These patient pool need a continuous nutrition system to fulfill nutrition deficiencies which will pave the way for the segment.
– In addition, prevalence of malnutrition is high in the developing countries. As per the WHO, around 45% of deaths among children under 5 years of age are linked to undernutrition. Also, 1.9 billion adults are overweight or obese, while 462 million are underweight. The nutrition injections are crucial in terms of nourishment requirements for physical growth to develop a healthy intellectual capacity which is provided through TPN.
– Furthermore, the American Society for Parenteral and Enteral Nutrition (ASPEN) initiate malnutrition awareness week to educate and raise awareness among patients and healthcare providers. The aforementioned factors bode a well for the segment growth.
The North America Dominates the Market and is Expected to Continue the Same during the Forecast Period
North America dominated the overall market over the forecast period owing to presence of high research expenditure by government agencies and private entities in the healthcare sector, technologically advanced medical devices, and collaborations among regulatory authorities, medical device industry, and universities. Approximately 740 units of normal saline are utilized every minute in this region which govern the regional growth of the market for large volume parenterals.
Moreover, favorable reimbursement policies have led to an increase in the hospital admission that is anticipated to boost the usage rates in this region. The reimbursement scenario is promising for IV nutrition. In the U.S., Medicare covers up to 80% of the expenses of parenteral and enteral nutrition including medical equipment, physician services, and other associated medical services, thereby benefiting the patients.
Download Sample PDF of this Report: –
Competitive Landscape
The market for large volume parenteral is moderately competitive and consists of the global as well as local players. Due to the technological advancements, small and mid-sized companies are focusing on market penetration to grab the market share. The market is witnessing dynamic merger and acquisition activities. Some of the companies which are currently present in the market are B. Braun Melsungen AG, Baxter Healthcare Corporation, Fresenius Kabi AG, Pfizer, Inc. and BML Parenteral Drugs. For instance, in July 2017, Baxter completes acquisition of Claris injectables. This transaction was expected to strengthen the company's generic injectable medicines portfolio.
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising number of surgeries
4.2.2 Growing preference for single-dose administration of vaccines and drugs to treat chronic diseases
4.2.3 Increase in local LVP manufacturing
4.3 Market Restraints
4.3.1 Challenges in formulation of LVPs
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
Ask for it and browse full report- large volume parenteral (lvp) market
About SDKI :
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count ( SDKI ) provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.