Large Volume Parenteral Market Analysis Volume, By End Use, And Segment Forecasts, 2022 - 2028

 

Large Volume Parenteral Market

Parenteral medications are sterile dosage forms that are administered through a different route than the oral route. The active ingredient is directly in contact with tissue or a blood vessel after being injected into one or more layers of skin. Small volume parenterals are single or multiple dosage preparations with a volume of 100 ml or less, whereas large volume parenterals have a volume greater than 100 ml. Large volume parenteral is administered intravenously and comes in a bag or bottle. It is used to correct the fluid/electrolyte balance and supply nutrition, such as dextrose.

Due to the use of large volume parenteral to deliver nutritional fluids and electrolyte balance, rising demand for palliative care across the globe is anticipated to propel Large Volume Parenteral Market growth. The World Health Organization (WHO) estimates that 40 million people worldwide require palliative care as of 2017. Only 14% of those who require palliative care actually receive it because 78% of them reside in low- and middle-income countries. Cardiovascular diseases (38.5%), cancer (34%), chronic respiratory illnesses (10.3%), AIDS (5.7%), diabetes (4.6%), kidney failure, and chronic liver disease are the illnesses that require the most palliative care.

This could present a lucrative opportunity for parenteral market players with high volume sales. The global market for large volume parenteral is predicted to grow as more surgeries are performed. For instance, according to data from the World Bank, there were roughly 4511 surgeries per 100,000 people worldwide in 2012. According to the Lancet Commission for Global Surgery, 2015, there are 143 million unmet surgical needs worldwide each year. As parenteral nutrition is a crucial component of pre- and post-operative care, this unmet need drives the large volume parenteral market.

Applications of Large Volume Parenteral Market-

   Fluid balance therapy

·       Therapeutic injection

·        Nutritional therapy

End Users of Large Volume Parenteral Market-

·        Hospitals

·        Ambulatory centers

·        Clinics

North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa are the regions that Coherent Market Insights has divided into for its segmentation of the large volume parental market. Due to the rising number of hospital admissions and the costs associated with those admissions (an estimated US$ 1900 in 2013, according to a Kaiser Health fact), North America is predicted to dominate the large volume parenteral market. According to the American Hospital Association factsheet 2018, there were an estimated 35,158,934 hospital admissions in 2017. As nutrition and electrolyte support are typically necessary in most cases, large volume parenteral is a crucial part of any admission procedure.

A large number of unmet surgical needs in the Asia Pacific region are anticipated to present a potential market opportunity for the large volume parenteral market due to the use of large volume parenteral to administer therapeutic doses or nutrition, according to the Lancet Commission for Global Surgery's 2015 report. When a patient is unconscious or unable to consume food normally, parenteral nutrition is crucial. In these situations, parenteral nutrition is administered in large volumes. A 2017 study that was published in the Journal of Critical Care estimates that 40,000 Americans require this type of parenteral nutrition each year, which is fueling market expansion.

Major Companies involved are Baxter International Inc., Teva Pharmaceutical Industries Limited, Kelun Pharmaceutical Inc., BAG Healthcare GmbH, Hospira, Inc., Patheon Inc., Otsuka Pharmaceutical, Wockhardt Ltd., Southwest Pharmaceutical Co. Ltd., and Cook Pharmica LLC.