Large Volume Parenteral Market 2023 Industry Growth Estimate, Strategy & Application

The global large volume parenteral (LVP) market size was valued at USD 9.5 billion in 2021 and is projected to reach around USD 15.0 billion in 2030 exhibiting a CAGR of 6.0% in the forecasted period. The increasing prevalence of malnutrition, rising natality rate, and increasing premature births worldwide are fuelling the market growth. Apart from this, the increasing consumption of fast food across the world has resulted in growing instances of non-communicable diseases, such as diabetes, hypertension, obesity, and other metabolic disorders. This is positively impelling the adoption of LVPs that are a mixture of dextrose, lipids, amino acids, trace metals, added electrolytes, and vitamins.

The increasing number of surgeries, need for a faster route of drug administration, rising preference for single-dose administration of vaccines and drugs, and rise in local manufacturing are anticipated to fuel the market for LVP. Furthermore, the growing patient pool suffering from chronic disease is one of the major factors in the large volume parenteral market. For instance, in August 2021 Boehringer Ingelheim GmbH stated that around 60 million or above people globally are affected by the chronic, inactivating cardio-renal-metabolic illness called heart failure. Latest therapy substitutes are urgently required as heart failure prevalence keeps escalating. These patients must need an appropriate balance of vital nutrients that aid in maintaining the hydration level, energy, and strength. The parenteral route of administration helps deliver an accurate dose of medicine as most of the drug is straight absorbed in circulation, skipping the gastrointestinal tract. Hence, target disease act as a crucial factor to upsurge market growth throughout the forecast period.

Furthermore, individuals and healthcare authorities are focusing to limit the mortality rate due to early birth and are thus impelling the use of large volume parenteral. For instance, in February 2022, Amneal Pharmaceuticals, Inc. received approval of four generic injectable products. Additionally, continuing developments in health insurance and medical technology can also fuel the pharma industry by eradicating financial and physical barriers to healthcare access, thereby surging market growth.

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The market worldwide was distressed by the closures and lockdowns forced. In this scenario most of healthcare, industries faced a raw material scarcity. Industries were shut, and the supply chain was interrupted. However, the development of vaccines and monoclonal antibodies as injectable forms produced a demand for the LVP market. In October 2021, the published article "Monoclonal Antibodies for COVID-19 Preexposure Prophylaxis Can't Come Fast Enough for Some People" stated that anti-SARS-CoV-2 monoclonal antibodies are commonly derived from either the B cells of individuals who've recovered after COVID-19 or from humanized mice. They aim epitopes on the SARS-CoV-2 spike protein. Infused or injected, monoclonal antibodies deliver almost direct, albeit temporary, "passive immunity" no matter the state of the recipient's immune system. The benefits of injected monoclonal antibodies as therapeutics in helping Covid-19 are predicted to have a considerable impact on the market. Thus, Covid-19 is predicted to have impacted the market significantly.

Type Insights
Soft Bags large volume parenteral segment has generated a revenue share of more than 40% and dominated the global large volume parenteral market in 2021. The rapid growth in the adoption of soft bag has offered a huge growth opportunity to the large volume parenteral brands that has fostered the growth of the segment.

Soft bag Large Volume Parenteral (LVP) is a bendable plastic material that comprises injection fluid. This product can be used to provide hydration, nourishment, and medication. It also offers the required nutrients to prevent malnutrition in patients who are incapable to eat generally or those undergoing surgery or other medical treatments that cause a loss of appetite.

Application Insights
Fluid balance injections is the leading market segment in 2021. Large Volume Parenteral (LVP) is used in fluid balance injections to enhance the amount of fluid intake. LVP helps to achieve hydration at a quicker rate than drinking fluids alone that can be helpful for people who are not feeling well and may need extra liquids.

In therapeutic infusion, large volume parenteral (LVP) is used for the treatment of anaemia, nutritional support during surgery recovery and to treat malnutrition due to chronic diseases such as cancer diseases, etc. In addition, it also helps in preventing dehydration from diarrhoea and vomiting. It assists to control or avoid problems with fluid and electrolytes.

Region Insights
North America leads the large volume parenteral market owing to the presence of major key players, high research expenditure by healthcare sector, technological development in medical devices in this region. The comprehensions on the growing prevalence of chronic diseases in the United States is one of the major factors driving the growth of the market. For instance, according to the Cancer Facts & Figures 2022 data issued by the American Cancer Society, there will be projected 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in the US. Additionally, in the Heart Disease Facts published by the Center for Disease Control and Prevention (CDC) in February 2022, it is declared that coronary heart disease is the most common type of heart disease in the US and around 18.2 million adults aged 20 and older have this in the country.
However, large volume parenteral market in the Asia-Pacific and Europe is anticipated to grow during the forecast period owing to the increasing research and development activities, rising investment in the healthcare sector, and growing focus of emerging markets.

Key Companies Insights
Key players are aiming on their technological partnerships, collaborations, and merger & acquisitions policies to gain a competitive edge and expand their product portfolio & business footmark. The ongoing COVID-19 pandemic hindered the healthcare systems globally and driven market players to update products for unexploited prospects.

Some of the key players operating in the global large volume parenteral market include:
• Albert David Ltd.
• B. Braun Melsungen AG
• Baxter
• BML Parenteral Drugs
• Fresenius Kabi AG
• Grifols, S.A.
• Pfizer, Inc.
• Sichuan Kelun Pharmaceutical Co., Ltd.
• Otsuka Pharmaceutical Co., Ltd.
• Cipla Inc.
• Zydus Group
• ALTHEA
• Other players

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Some of the Recent Developments:
• In June 2022, Akums Drugs & Pharmaceuticals Ltd. (India) acquired the strict European Union (EU) GMP approval for two of their manufacturing units in Haridwar. One plant manufactures solid oral dosage forms such as hard gelatin capsules, tablets, powders in sachets, etc. belonging to the general category, and another plant manufactures large volume parenteral and small volume parenteral lines, including ampoules, vials, eyedrops, FFS and for dry powder injections in the penicillin line.

• In May 2022, the government of India revised the Drug Rule 1945 and delivered a notification to add a sub-rule under Rule 75 (3). This sub-rule will instruct submitting an application with the licensing expert in Form 27D to grant or renew a license for manufacturing, selling, or distributing medicinal drugs in a large volume of parenteral, sera and vaccine, and r-DNA derived drugs.

Segments
By Type
• Soft Bag LVP
• Plastic Bag LVP
• Glass Bottle LVP

By Volume
• 250 ml - 500 ml
• 100 ml-250 ml
• 500 ml - 1000 ml
• 1000 ml - 2000 ml
• 2000 ml and More

By Application
• Fluid Balance Injections
• Nutritious Injections
• Therapeutic Injections

By End User
• Hospitals
• Clinics
• Others

Frequently Asked Questions
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