Large Volume Parenteral (LVP) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Large Volume Parenteral (LVP) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global large volume parenteral (LVP) market is projected to expand at a CAGR of 6.1% over the forecast period (2022-2027).

The market worldwide was devastated by the closures and lockdowns imposed. In this scenario majority of healthcare, industries faced a raw material shortage. Industries were closed, and the supply chain was disrupted. However, the development of vaccines and monoclonal antibodies as injectable forms created a demand for the LVP market. The article “Monoclonal Antibodies for COVID-19 Preexposure Prophylaxis Can’t Come Fast Enough for Some People” published in October 2021 mentioned that anti–SARS-CoV-2 monoclonal antibodies are generally derived from either the B cells of people who’ve recovered from COVID-19 or from humanized mice. They target epitopes on the SARS-CoV-2 spike protein. Infused or injected, monoclonal antibodies provide almost immediate, albeit temporary, “passive immunity” no matter the state of the recipient’s immune system. The advantages of injected monoclonal antibodies as therapeutics in aiding Covid-19 are anticipated to have a considerable impact on the market. Thus, Covid-19 is anticipated to have impacted the market significantly.

The rising number of surgeries, need for a faster route of drug administration, growing preference for single-dose administration of vaccines and drugs, and increase in local manufacturing are expected to drive the market for LVP.

Additionally, the increasing patient pool suffering from chronic disease is one of the major drivers in the large volume parenteral market. For instance, a press release published by Boehringer Ingelheim GmbH in August 2021 stated that nearly 60 million or more people worldwide are affected by the chronic, disabling cardio-renal-metabolic illness known as heart failure. New therapy alternatives are urgently needed as heart failure prevalence keeps rising. These patients must need a proper balance of vital nutrients that help in maintaining the hydration level, energy, and strength. The parenteral route of administration helps provide an accurate dose of medication as most of the drug is directly absorbed in circulation, bypassing the gastrointestinal tract. Therefore, target disease act as a vital factor to surge market growth throughout the forecast period.

Moreover, individuals and healthcare authorities are paying extensive focus on limiting the mortality rate due to early birth and are thereby propelling the use of large volume parenteral. For instance, in February 2022, Amneal Pharmaceuticals, Inc. received approval of four generic injectables products. Dexamethasone sodium phosphate injection, USP 10 mg/mL, azacitidine 100 mg, carboprost tromethamine injection, USP 250 mcg/mL, and atropine sulfate injection, USP 0.5 mg/5 mL, have received Abbreviated New Drug Application (ANDA) approval from the Food and Drug Administration (FDA). The Company also has approximately 25 commercial injectables for the United States institutional market and is targeting over 40 launches from 2021 to 2025 in a variety of complex areas, such as drug/device combinations, peptides, long acting injectables and large volume parenteral (LVP) bags. Additionally, ongoing developments in health insurance and medical technology can also boost the pharma industry by eliminating financial and physical barriers to healthcare access, thereby surging market growth.

Therefore, owing to the factors mentioned above the market studied is expected to grow over the forecast period. However, challenges in the formulation of large volumes of parenteral such as achieving drug substance and excipient compatibility may restrict the market.

Key Market TrendsTherapeutics Injections Segment is Expected to Dominate the Market during the Forecast Period

Owing to the increasing cases of chronic diseases and increasing developments by the major players in the development of injectable therapeutics the market studied is anticipated to grow over the forecast period.

The therapeutic injections are used for several indications and are adopted by researchers, scientists, physicians, and even patients rigorously for treatment. The data updated by John Hopkins Medicine in August 2021 states that Platelet-Rich Plasma (PRP) injections are sometimes used as an anti-aging treatment, but there is little evidence to show that PRP reduces wrinkles and other signs of aging. In addition, the article reviewed by “Blue Mountain Hospital” in May 2022 stated that these therapeutic pain injections are minimally invasive options for treating joint, neck, and lower back pain. These injections contain corticosteroids, which are used to lessen pain and reduce inflammation and only take a few minutes to relieve pain that lasts for months. Again, the data published by Mayo Foundation for Medical Education and Research (MFMER) in February 2022 shows that hydralazine injection is used to treat high blood pressure (hypertension) under the supervision of physicians and this injection works by relaxing the blood vessels and increasing the supply of blood and oxygen to the heart while reducing its workload. Hence, the advantages of the therapeutic injections coupled with adoption by the target population are anticipated to drive segment growth over the forecast period.

Additionally, major companies are focusing more on innovative therapeutics in injectable forms which patients can administer with accurate dosages and these innovations are expected to drive segment growth. For instance, in Janury 2021, Berry Global Healthcare, a United States based manufacturing company launched the lightest dual-port blow fill seal closure, which is currently available for large volume parenteral applications up to 64% lighter than other products available in the market. Such developments in the segment are fuelling the segment towards growth.

Therefore, the aforesaid factors are anticipated to drive the segment growth over the forecast period.

The North America is Expected to Dominate the Market during the Forecast Period

North America is predicted to dominate the overall market over the forecast period. Among other countries, the United States is expected to hold the largest share of the market owing to the presence of high research expenditure by government agencies and private entities in the healthcare sector, technologically advanced research facilities, and collaborations among regulatory authorities, and universities.

The insights on the rising prevalence of chronic diseases in the United States is one of the major factors driving the growth of the market studied over the forecast period. For instance, as per the Cancer Facts & Figures 2022 data published by the American Cancer Society, there will be an estimated 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in the United States. In addition, in the Heart Disease Facts published by the Center for Disease Control and Prevention (CDC) in February 2022, it is mentioned that coronary heart disease is the most common type of heart disease in the United States and nearly 18.2 million adults aged 20 and older have this in the country. In addition, the data updated by CDC in July shows that more than 37 million adults have diabetes in the country and the number of adults diagnosed with diabetes has more than doubled in the last 20 years. Hence, the increasing burden of cancer, heart disease, diabetes, and other chronic diseases in the country is anticipated to create more opportunities for the development of new therapeutics, and parenteral nutritional. Thereby, driving demand for large volume parenteral in the country, driving the studied market growth.

Furthermore, increasing recent developments in the country are expected to contribute to the market growth, additionally, the presence of regulatory bodies which inspects and guide the manufacturers in maintaining the quality, and efficacy of the drugs and therapeutics is expected to create an opportunity for innovative large volume parenteral (LVPs) in the country, which is anticipated to drive market growth in the region. For instance, in December 2021, the Food and Drug Administration (FDA) published a Draft Guidance on Visual Inspection of Parenteral including LVPs. As per the guidance, for risk assessment of LVPs, the products must be subject to the same level of inspection as small volume products and recommends additional destructive testings as well. Hence, such active involvement of the authorities for the betterment of LVPs in the United States is anticipated to drive market growth.

Therefore, the aforesaid factors are anticipated to drive the market growth over the forecast period in North America.

Competitive Landscape

The market for large volume parenteral is moderately competitive and consists of global as well as local players. Due to technological advancements, small and mid-sized companies are focusing on market penetration to grab the market share. The market is witnessing dynamic merger and acquisition activities. Some of the companies which are currently present in the market are B. Braun Melsungen AG, Baxter, Fresenius Kabi AG, Pfizer, Inc., and BML Parenteral Drugs, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.