Global IV Bottles Market: Overview
The pharmaceutical industry is thriving with increasing healthcare expenditure and investment on research & development. The parenteral packaging market is expected to witness rapid growth by the rise in demand from the pharmaceutical industry. Due to high advantage therapy, IV or intravenous infusion method is increasingly adopted by the hospitals and healthcare centers. IV bottles are one of the oldest part in IV infusion techniques. In the late 80’s, the IB bottles made up of glass are used only due to the other material constraints. But currently, plastic is the dominant material to manufacture the IV bottles due to its high barrier properties. The IV bottles market has a high threat of substitution by the plastic bags. The flexibility of plastic IV bags is a significant feature behind the IV bags market growth. It is expected that by the end of the decade, IV bags will be the dominant product in the IV infusion therapy market.
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Global IV Bottles Market: Dynamics
Rise in Awareness About Parenteral Nutrition Therapy
The demand for IV bottles is expected to boost due to the increasing awareness of parenteral nourishment. According to the World Health Organization, around 11% of the ailments in the world is due to the lack of healthy sustenance. As this percentage is anticipated to rise shortly owing to nourishment security, and changing ecological conditions, interest for parenteral sustenance is expected to remain constant. The IV bottles and bags are anticipated to be fine options for the intravenous nutrition nourishments.
Rise in the Aging Population
The size of the geriatric population in the world has been increasing since the last few years. Countries such as China is anticipated to have the largest size of the aging population in the world by the next decade. Growth in the age of a person brings along various ailments, thereby giving rise to the demand for efficient drug administration methods. IV drugs are preferred to oral drugs as the former generates results in less time and has higher accuracy. Rise in awareness among consumers is expected to directly translate to preference for IV administration, thereby fueling the growth of the IV bottles market.
Rise in Adoption of Injection-Based Therapies
Parenteral drugs play a vital role in preventing and curing complicated diseases such as hepatitis, influenza, measles, small pox, and polio. To raise the standards of healthcare, governments across the globe are taking preventive measures such as encouraging the adoption of injection-based therapies and other preventive measures to ward off various diseases. Acute diseases with high prevalence can be prevented with appropriate prophylaxis. Government-funded programs such as Vaccines for Children (VFC) in the U.S. have been initiated to avoid the occurrence of various common diseases. The National Health and Medical Research Council funded a project called ACE-Prevention (Assessing Cost-Effectiveness of Prevention), which is a comprehensive evaluation of preventive measures conducted worldwide.
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Global IV Bottles Market: Geographical Outlook
The Asian market for IV bottles is expected to witness maximum growth due to increasing investment in healthcare sectors. The Asia Pacific economic powerhouses, China and India are expected to be the key market for IV bottles, and significant market for the manufacturers to concentrate. The Asia Pacific market is experiencing a maximum number of new entrants in the market of the IV bottles market.
Global IV Bottles Market: Segmentation
The global IV bottles market has been segmented on the basis of material type, application, and capacity.
On the basis of material type, the global IV bottles market has been segmented into:
- Plastic
- Glass
On the basis of application, the global IV bottles market has been segmented into:
- Normal Saline
- Dextrose 5%
- Ringer Lactate
- Dextrose Normal Saline
On the basis of capacity, the global IV bottles market has been segmented into:
- Up to 250 ml
- 250-500 ml
- Above 500 ml
Global IV Bottles Market: Key Players
Some of the key players operating in the global IV bottles market are as follows:
- Baxter International Inc.
- Vioser SA
- Arvind Group
- Hebei Xinfuda Plastic Products Co., Ltd.
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