Global Small Volume Parenteral Market Is Anticipated To Witness High Growth Owing To Rising Prevalence Of Chronic Diseases

 
small volume parenteral market 


The global small volume parenteral market consists of various solutions that are administered intravenously through small volume dosage instead of regular large volume parenteral solutions. Small volume parenterals are sterile solutions usually containing mixtures of drugs and amino acids, vitamins, and other essential components in small volume dosage amounts usually less than 100ml. These solutions find widespread applications in the treatment of electrolyte imbalances, nutritional deficiencies, dehydration and various chronic diseases requiring intravenous solutions. The increasing prevalence of chronic diseases worldwide coupled with growing geriatric population prone to various health issues are key factors driving the demand for parenteral nutrition and small volume dosages.

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 players

are focussing on regional expansion and new product launches to gain greater market share. For instance, in 2023 Fresenius Kabi AG inaugurated a new manufacturing plant in Russia to strengthen its regional presence. Similarly, ICU Medical launched IV flush syringes with Enshield safety features for improved safety.

North America currently dominates the global market owing to high accessibility to healthcare facilities and growing geriatric population. However, Asia Pacific is expected to witness fastest growth owing to rising medical tourism, improving healthcare infrastructure and increasing expenditures on healthcare. Key players are expanding their manufacturing footprint in Asian countries to leverage growth opportunities in the region.

Market drivers and restraints

The growing prevalence of chronic diseases such as cancer, diabetes, cardiovascular diseases etc. is a key factor driving the demand for parenteral nutrition solutions. Small volume parenterals are widely used in disease treatment procedures involving intravenous medication and therapy. According to WHO, cancer is the second leading cause of death globally and was responsible for nearly 10 million deaths in 2020. The increasing cancer burden worldwide is anticipated to boost the adoption of small volume parenteral solutions in chemotherapy procedures over the forecast period.

High costs associated with parenteral drugs and equipment can hamper the market growth. Parenteral drugs require specialized manufacturing and quality compliance practices which increases their production costs. Additionally, hospitals and patients have to incur costs for equipment like infusion pumps, medical disposables which adds to the overall treatment expenses of parenteral therapy. This high cost factor of parenteral drugs and equipment may restrict the market from reaching its full potential.

Segment Analysis
The global small volume parenteral market demand is dominated by the cardiovascular diseases sub-segment. Cardiovascular diseases account for over 30% of the market share owing to factors such as rising prevalence of chronic diseases like heart failure and peripheral vascular diseases across the world. These chronic conditions require small volume parenteral drugs like isotonic solutions for fluid replacement and maintenance and electrolyte balance in patients. Other major sub-segments include infectious diseases, metabolic diseases, gastroenterology, oncology and neurology. The infectious diseases sub-segment holds the second largest share and is expanding at a steady pace due to increasing incidence of hospital acquired infections and growing demand for antimicrobials.

Global Analysis
Regionally, North America commands the largest share in the global small volume parenteral market due to factors such as advanced healthcare infrastructure, high healthcare spending and growing demand for parenteral nutrition for diabetes and cancer treatment. Europe holds the second largest revenue share on back of rising geriatric population susceptible to chronic illnesses in countries like Germany, United Kingdom and France. Meanwhile, Asia Pacific is identified as the fastest growing region in the market and will continue to offer lucrative opportunities through 2030. This can be attributed to increasing healthcare expenditure, rising medical tourism industry and growing prevalence of chronic disorders in India and China. Key players are focused on strengthening their presence in emerging economies of Asia Pacific and Latin America regions to leverage new growth avenues.

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