Large Volume Parenteral (LVP) Global Market Report 2024

The large volume parenteral (lvp) market size has grown strongly in recent years. It will grow from $11.42 billion in 2023 to $12.44 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth observed in the historic period can be ascribed to several factors, including the escalating prevalence of chronic diseases, a notable increase in the aging population, a growing demand for sterile pharmaceuticals, the expansion of healthcare infrastructure, and the establishment of regulatory frameworks for the pharmaceutical sector.

The large volume parenteral (lvp) market size is expected to see strong growth in the next few years. It will grow to $17.35 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The anticipated growth in the forecast period can be credited to the increasing demand for biologics and biosimilars, a rise in healthcare expenditure, the expansion of pharmaceutical outsourcing, a heightened focus on personalized medicine, and the globalization of pharmaceutical supply chains. Key trends expected in the forecast period encompass technological advancements in manufacturing processes, the integration of advanced technologies in pharmaceutical production, the adoption of single-use technologies, the development of high-concentration formulations, and the increasing application of 3D printing in pharmaceuticals.

The projected growth in the large-volume parenteral market is expected to be fueled by the increasing prevalence of chronic diseases. Chronic diseases, characterized by lasting three months or longer and having the potential to worsen over time, are on the rise, driven primarily by factors such as tobacco use, exposure to smoke, and poor nutrition. Patients with chronic diseases often require a balanced ratio of essential nutrients to support strength maintenance. The parenteral mode of administration is advantageous in delivering precise pharmaceutical dosages, as it allows for direct absorption into the circulation, bypassing the digestive system. For example, in January 2023, the National Center for Biotechnology Information (NCBI) projected a 99.5% increase in individuals aged 50 years and older with at least one chronic illness in the US by 2050, rising from 71.522 million in 2020 to 142.66 million. Consequently, the growing prevalence of chronic diseases is a key driver for the expansion of the large-volume parenteral market.

The anticipated growth in the large-volume parenteral market is further driven by increasing healthcare expenditure. Healthcare expenditure, reflecting the rising financial investment in healthcare services and related activities, is often linked to the development and expansion of healthcare infrastructure. This includes the establishment of new hospitals, clinics, and healthcare facilities, enhancing the overall capacity to deliver medical services and contributing to the demand for Large Volume Parenteral (LVP) solutions. In May 2023, the Office for National Statistics reported that the UK spent a total of £280.7 billion on healthcare in 2021, amounting to £4,188 per person. Notably, healthcare spending increased by 9.4% in nominal terms and 9.7% in actual terms between 2020 and 2021. Government-financed healthcare expenditures accounted for 83.0% of all healthcare spending in 2021, reaching £233.1 billion with a real growth rate of 9.6%. Therefore, the escalating healthcare expenditure emerges as a significant factor driving the growth of the large-volume parenteral market.

Product innovation is a prominent and popular trend in the large-volume parenteral market, with major players dedicating efforts to the creation of innovative products to enhance their market positions. An illustrative example of this trend is observed with SGD Pharma SA, a France-based producer of molded and tubular glass for pharmaceutical primary packaging. In March 2022, SGD Pharma launched 100-ml type I molded glass vials that are sterile and ready for aseptic filling and finishing of parenteral medicinal formulations. These vials serve to prevent scratches, facilitate the visual examination of filled vials, and reduce the likelihood of rejection during quality control processes. This product innovation aligns with the market's focus on enhancing the quality and efficiency of large-volume parenteral products.

Major players in the market are strategically focusing on the development of innovative formulations to bolster their market position. The creation of innovative formulations plays a pivotal role in driving the success and growth of the large volume parenteral market. These formulations address clinical challenges, enhance patient outcomes, and adapt to the dynamic landscape of healthcare. For instance, in November 2022, WuXi AppTec, a leading pharmaceutical development and manufacturing company based in China, launched a Parenteral Formulation Manufacturing Line in Wuxi City. This new line features an integrated 15 m³ lyophilizer housed in a completely enclosed isolator, along with a fully automated vial loading and unloading system. The filling line accommodates vials for solutions and lyophilized powder in various sizes, enabling quick mode transitions and significantly accelerating large-volume parenteral drug product production speed at 200 vials per minute. The facility boasts an innovative filling machine and a state-of-the-art containment system, aligning with global cGMP requirements.

In March 2022, Fresenius Kabi, a healthcare company based in Germany, made a strategic move by acquiring Ivenix Inc. for $240 million. This acquisition aims to broaden Fresenius Kabi's access to infusion systems in hospitals, complementing its intravenous fluids and infusion treatment offerings, and reinforcing its position in the US market. Ivenix Inc., a US-based medical technology company, specializes in the development of the Ivenix Large Volume Pump (LVP). This strategic acquisition further strengthens Fresenius Kabi's capabilities in the large volume parenteral market.

Major companies operating in the large volume parenteral (lvp) market report are Pfizer Inc., Fresenius Kabi AG, Abbott Laboratories Inc., Becton Dickinson and Company, Otsuka Holdings Co Ltd., Baxter International Inc., B Braun Melsungen AG, Grifols SA, Cipla Limited, ICU Medical Inc., Biocon Limited, Sichuan Kelun Pharmaceutical Co. Ltd., Alembic Pharmaceuticals Limited, Cadila Healthcare Ltd., Gland Pharma Limited, Akums Drugs & Pharmaceuticals Ltd., Beximco Pharmaceutical Ltd., Nelson Laboratories LLC, Taj Pharmaceuticals Limited, Albert David Ltd., Amanta Healthcare Ltd., Unique Pharmaceutical Laboratories Ltd., Ahlcon Parenterals India Ltd, Parenteral Drugs Limited, Abaris Healthcare Pvt. Ltd., BML Parenteral Drugs, Denis Chem Lab Ltd, Pentagon Labs Ltd., DJ Labs Pvt Ltd., Higgs Healthcare.

North America was the largest region in the large volume parenteral (LVP) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the large volume parenteral (lvp) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the large volume parenteral (lvp) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of Large Volume Parenteral (LVP) include soft bag LVP, plastic bag LVP, and glass bottle LVP. Soft bag LVP involves the use of flexible bags containing sterilized intravenous solutions, employed in medical settings to deliver fluids and medications to patients. The varying volumes, ranging from 100 ml to 2000 ml and beyond, cater to different infusion needs, such as basic infusion, therapeutic infusion, and nutritious infusion. End-users of LVP include hospitals, medical centers, and other healthcare facilities.

The large volume parenteral (LVP) market research report is one of a series of new reports that provides large volume parenteral (LVP) market statistics, including large volume parenteral (LVP) industry global market size, regional shares, competitors with a large volume parenteral (LVP) market share, detailed large volume parenteral (LVP) market segments, market trends and opportunities, and any further data you may need to thrive in the large volume parenteral (LVP) industry. This large volume parenteral (LVP) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The large-volume parenteral (LVP) market consists of sales of sterile intravenous solutions, peritoneal dialysis solutions, plasma substitutes, and sterile powders. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.