by The global small volume parenteral market product description involves ready-to-use parenteral drugs in small containers including vials and ampoules that can deliver a precise volume of medication. These parenterals help in optimizing therapy for patients with various conditions requiring fluids, electrolytes, nutrition, and medications by intravenous route. Advancements in fill/finish manufacturing technologies have enabled increased efficiency and automation in the production of small volume parenterals. The Global small volume parenteral market is estimated to be valued at US$ 179.62 BN in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the global small volume parenteral market are Fresenius Kabi AG, Baxter, Sichuan Kelun, BML Parenteral Drugs, ICU Medical, Inc., Pfizer Inc., Becton Dickinson and Company, B. Braun Melsungen AG, WuXi AppTec , Akums Drugs & Pharmaceuticals Ltd., Orion Corporation, Rusoma Laboratories Private Limited, Higgs Healthcare and Syntegon Technology GmbH.
Key opportunities in the market include increasing demand for generic parenterals due to their cost-effectiveness and rising prevalence of chronic diseases requiring IV therapy. Technological advancements like vision-guided robotic systems and blow-fill-seal equipment enable high-speed production while maintaining sterility.
Market drivers
The primary drivers boosting the small volume parenteral market share include the growing geriatric population more prone to chronic diseases, rising prevalence of cancer requiring chemotherapy, and increasing incidence of premature births necessitating total parenteral nutrition. Further, growing incidences of road accidents and trauma cases expanding the demand for IV medication and fluids. Favorable government healthcare policies in developing countries are also augmenting the demand for affordable generic parenterals.
Current Challenges in the Global Small Volume Parenteral Market:
The global small volume parenteral (SVP) market is facing various challenges like increasing regulatory pressures, shortage of raw materials, stringent quality guidelines and demand for low-cost generics. Regulatory agencies have made compliance and quality norms more stringent in view of past quality issues. This has increased regulatory hurdles for manufacturers. Moreover, raw material shortages due to export restrictions imposed by China have disrupted supply chains. Meeting stringent quality standards while maintaining affordable pricing is also a major challenge.
SWOT Analysis
Strength: Growing prevalence of chronic diseases worldwide which require intravenous drug administration. Weakness: High dependency on imports from a few countries for raw materials increases supply risks. Opportunity: Emerging markets in Asia Pacific expected to drive future growth due to improving healthcare infrastructure and demand. Threats: Price controls and healthcare reforms in major markets may squeeze profit margins.
Geographical Regions
North America currently dominates the global small volume parenteral market in terms of value due to high healthcare spending and demand for high-quality pharmaceutical products. The U.S. accounts for the largest share. Europe is the second largest market led by countries like Germany, U.K., France, and Italy. Asia Pacific is expected to witness the fastest growth during the forecast period supported by expanding healthcare infrastructure, rising incidence of chronic diseases and growing medical tourism in countries like India, China and South Korea.
Fastest Growing Region
Asia Pacific is poised to be the fastest growing regional market for small volume parenterals globally between 2024-2030. This is attributed to factors like rising healthcare expenditure, increasing prevalence of chronic diseases, growing focus on generic drugs to meet domestic demand and expand exports from major Asian countries. Moreover, healthcare reforms, health insurance penetration and focus on medical infrastructure development in Asia Pacific economies are also supporting regional market growth. China and India specifically are likely to drive the Asia Pacific SVP market share in the coming years.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
