Small Volume Parenteral Global Market Report 2024

The small volume parenteral market size has grown strongly in recent years. It will grow from 163.34 billion in 2023 to $177.26 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to the regulatory approvals and government initiatives, rising prevalence of chronic diseases, pharmaceutical outsourcing trends, and globalization and expansion of pharmaceutical markets.

The small volume parenteral market size is expected to see strong growth in the next few years. It will grow to $247.53 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The anticipated growth in the forecast period can be credited to several factors, including the expansion of the biologics market, improvements in healthcare infrastructure, heightened rates of hospitalization, regulatory clearances, a trend towards home healthcare, augmented investments in healthcare, and the impact of global health crises. Significant trends expected during this period encompass the rise of biocompatible formulations, patient-centered strategies, the increasing prominence of home healthcare, advancements in manufacturing automation, diversification in therapeutic domains, and the emergence of smart pump technologies.

The rising frequency of surgical procedures is anticipated to drive the expansion of the small-volume parenteral market in the future. Surgery, a medical discipline focused on utilizing operative methods to diagnose or treat various pathological conditions, enhance bodily function or aesthetics, and mend damaged tissues, is witnessing an uptick in rates owing to advancements in medical technology and the aging populace, thus amplifying the demand for surgical interventions. Small-volume parenteral solutions play a vital role in surgeries by precisely delivering medications, electrolytes, and nutrients directly into the bloodstream. For example, data from the American Academy of Facial Plastic and Reconstructive Surgery in February 2022 revealed that approximately 1.4 million surgical and non-surgical plastic procedures were conducted in 2021, with plastic surgeons averaging 600 more procedures than in 2020. Hence, the escalating number of surgeries is fostering the growth of the small-volume parenteral market.

Key players in the small volume parenteral market are directing their efforts towards the development of innovative solutions, exemplified by Pharmatec SVP process systems, aimed at optimizing their market revenues. Pharmatec SVP process systems represent specialized solutions engineered to manufacture small-volume parenteral (SVP) pharmaceuticals. These systems are meticulously crafted to adhere to the rigorous demands of sterile manufacturing processes, ensuring elevated standards of quality and safety for injectable products. For instance, in March 2021, Syntegon, a German-based machinery industry leader, introduced the SVP Essential, a small-volume parenteral pharmaceutical production system engineered for both cost-effectiveness and superior quality. This system provides a fully automated, pre-configured solution, boasting the highest hygienic standards and ensuring process reproducibility. Particularly suited for the production of straightforward parenteral medications such as analgesics, insulin, and generic drugs, its modular design allows for delivery in a mere six months.

In February 2024, Eris Lifesciences Ltd., a pharmaceutical firm headquartered in India, acquired a majority stake of 51% in Swiss Parenteral for $76.52 million. This strategic move by Eris enhances its footprint in the sterile injectables sector and aligns with its strategy of targeting emerging markets. Swiss Parenteral, also based in India, specializes in the production of small-volume liquid parenteral formulations within the pharmaceutical industry.

Major companies operating in the small volume parenteral market are Pfizer Inc., AbbVie Inc., Bayer AG, Sanofi S.A., Bristol-Myers Squibb Company, Novartis AG, GlaxoSmithKline plc, Eli Lilly and Company, Baxter International Inc., Teva Pharmaceutical Industries Ltd., Fresenius Kabi AG, Sun Pharmaceutical Industries Ltd., Boehringer Ingelheim GmbH, Viatris Inc, Intas Pharmaceuticals Ltd., Aurobindo Pharma Limited, Dr. Reddy’s Laboratories Ltd., Cipla Limited, Hikma Pharmaceuticals PLC, Lupin Limited, Biocon Limited, Torrent Pharmaceuticals Ltd., Zydus Cadila, Alembic Pharmaceuticals Ltd., Wockhardt Ltd.

North America was the largest region in the small volume parenteral market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the small volume parenteral market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the small volume parenteral market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Small volume parenteral (SVP) relates to a classification of sterile pharmaceuticals designed for parenteral delivery (circumventing the gastrointestinal tract) and usually dispensed in volumes of 100 milliliters (mL) or smaller. These items serve diverse medical functions, such as administering medications, vaccines, or biological therapies directly into the body via intravenous (IV), intramuscular (IM), or subcutaneous (SC) routes.

The primary categories of small volume parenteral include ampules, vials, and prefilled syringes. Ampules are compact, sealed containers utilized for storing and protecting liquid medications, typically opened by breaking off the neck. Available in single or multiple doses, they are employed to address diverse conditions such as pain management, cancer treatment, malnutrition, gastrointestinal issues, diabetes, among others. Widely used in local anesthetics, vaccines, and similar applications, they cater to various end users including hospitals, clinics, ambulatory surgical centers, and others.

The small volume parenteral market research report is one of a series of new reports that provides small volume parenteral market statistics, including small volume parenteral industry global market size, regional shares, competitors with a small volume parenteral market share, detailed small volume parenteral market segments, market trends and opportunities, and any further data you may need to thrive in the small volume parenteral industry. This small volume parenteral market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The small volume parenteral market consists of sales of epinephrine, insulin, heparin, morphine, and vaccines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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