The Growing Number Of Surgeries Is Expected To Drive Growth In The Global Large Volume Parenteral Market



Parenteral is a sterile dosage form that is administered via a route other than the oral route. They are injected into one or more layers of skin, with the active ingredient coming into direct contact with tissue or blood vessels. Small volume parenteral is a single or multi dosage preparation with a volume of 100 ml or less, whereas large volume parenteral has a volume greater than 100 ml. Large volume parenteral is available in a bag or bottle for intravenous administration and is used to correct fluid/electrolyte balance as well as provide nutrition such as dextrose.

 

The use of large volume parenteral to provide electrolyte balance and nutritional fluids is expected to drive growth in the Large Volume Parenteral Market due to rising demand for palliative care worldwide. According to the World Health Organization (WHO), an estimated 40 million people worldwide require palliative care in 2017. Around 78 percent of those people live in low- and middle-income countries, with only 14 percent receiving palliative care. Cardiovascular diseases (38.5 percent), cancer (34%), chronic respiratory diseases (10.3 percent), AIDS (5.7 percent), and diabetes (4.6 percent) are among the diseases that necessitate intensive palliative care. This creates a potential opportunity for players in the parenteral market with high volume. The growing number of surgeries is expected to drive growth in the global parenteral market.

 

North America is expected to dominate the high-volume parenteral market, owing to an increase in hospital admissions and the associated costs (an estimated US$ 1900 in 2013, according to Kaiser Health data). According to the American Hospital Association factsheet 2018, an estimated 35,158,934 hospital admissions were reported in 2017, and large volume parenteral is an essential part of any admission procedure, as nutrition and electrolyte support are required in the majority of cases. 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 are key players in the large volume parenteral market.

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