Large Volume Parenteral (LVP) Market Estimated To Grow at a CAGR of 6.37% by 2028 | IMARC Group

IMARC Group, a leading market research company, has recently releases report titled “Large Volume Parenteral (LVP) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global large volume parenteral (LVP) market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

According to IMARC Group, the global large volume parenteral (LVP) market size reached US$ 9.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.8 Billion by 2028, exhibiting a growth rate (CAGR) of 6.37% during 2023-2028.

The report has segmented the market by region, type, volume, application and end users.

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Factors Affecting the Growth of the Large Volume Parenteral (LVP) Industry:

• Increasing Prevalence of Chronic Diseases:

One of the primary drivers of the large volume parenteral (LVP) market is the rising prevalence of chronic ailments, such as cancer, diabetes, and cardiovascular disorders. Patients suffering from these conditions often require continuous and precise administration of medications, making LVPs a vital component in their treatment regimens. The aging population, coupled with lifestyle changes, is contributing to the growing prevalence of chronic diseases, which, in turn, is catalyzing the demand for LVPs. The growing need for efficient and safe treatment options for chronic diseases is increasing innovation in the market. Advanced formulations that are more effective and safer, along with improvements in packaging and administration systems, are being introduced for catering to this demand.

• Agricultural Demand:

Advancements in pharmaceutical technology and manufacturing processes are transforming the LVP market. Innovations in aseptic filling, container closure systems, and drug formulation are improving the safety and efficacy of LVP products. These technological enhancements not only enhance product quality but also extend the shelf life of LVPs, thereby reducing waste and overall healthcare costs. The use of advanced filtration technologies is improving the quality of LVPs. These technologies help in the efficient removal of particulates, microorganisms, and endotoxins, thereby ensuring the purity and efficacy of the products. The integration of data analytics and the Internet of Things (IoT) in the manufacturing process allows for real-time monitoring and analysis. This leads to better quality control, predictive maintenance, and efficient resource management.

• Growing Demand for Homecare Settings:

Increasing preferences for homecare settings for certain patient populations is propelling the growth of the market. Home-based healthcare allows patients to receive LVP treatments in the comfort of their homes, reducing the burden on healthcare facilities and lowering overall healthcare costs. Moreover, technological advancements make it easier for patients to self-administer LVPs under the supervision of healthcare professionals. Governments in various countries are promoting home healthcare services through supportive policies and funding, acknowledging the benefits of home care. The expansion of home healthcare infrastructure, including skilled nursing and pharmaceutical services, supports the use of LVPs in home settings.

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Large Volume Parenteral (LVP) Market Report Segmentation:

By Type:

• Soft Bag LVP
• Plastic Bottle LVP
• Glass Bottle LVP

Soft bag holds the biggest market share due to its easy availability and cost-effectiveness. 

By Volume:

• 100 ML - 250 ML
• 250 ML - 500 ML
• 500 ML - 1000 ML
• 1000 ML - 2000 ML
• 2000 ML and More

500 ML-1000 ML accounts for the largest market share as it is used for fluid replacement, electrolyte replenishment, or as a vehicle for drug delivery. 

By Application:

• Therapeutic Injections
• Fluid Balance Injections
• Nutritious Injections

Nutritious injections exhibit a clear dominance in the market due to its effectiveness in curing various ailments. 

By End Users:

• Hospitals
• Clinics
• Others

On the basis of end users, the market has been divided into hospitals, clinics, and others. 

Regional Insights:

• North America 
• United States
• Canada
• Asia Pacific 
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe 
• Germany
• France
• United Kingdom
• Italy
• Spain
• Others
• Latin America 
• Brazil
• Mexico
• Others
• Middle East and Africa

North America's dominance in the large volume parenteral (LVP) market is attributed to the increasing investment in research operations to develop enhanced LVPs. 

Global Large Volume Parenteral (LVP) Market Trends:

Environmental sustainability is gaining traction across industries, including healthcare. In response to this trend, LVP manufacturers are exploring sustainable packaging solutions to reduce their environmental footprint. This includes the use of recyclable materials, energy-efficient manufacturing processes, and reducing packaging waste. Sustainable practices not only align with global environmental goals but also resonate with environmentally conscious consumers. Innovations in aseptic filling techniques, container closure systems, and the overall production of parenteral solutions are improving the safety and efficacy of LVPs. Manufacturers are investing in research and development (R&D) to enhance the quality and shelf life of these products while maintaining compliance with stringent regulatory standards.

Leading Companies Operating in the Global Large Volume Parenteral (LVP) Industry:

• Albert David Ltd.
• B. Braun Melsungen AG
• Baxter International Inc.
• BML Parenteral Drugs
• Fresenius Kabi AG
• Grifols S.A
• Otsuka Pharmaceutical Co. Ltd
• Pharmaceutical Solutions Industry Ltd.
• Sichuan Kelun Pharmaceutical Co. Ltd.
• Thermo Fisher Scientific Inc.

Other Key Points Covered in the Report:

• COVID-19 Impact
• Porters Five Forces Analysis
• Value Chain Analysis
• Strategic Recommendations

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