A recent study by ESOMAR-certified consulting firm Future Market Insights projects a positive outlook for the Intravenous Packaging market over the forecast period. The report gives a detailed outlook about the ongoing changes and advancement that are expected to augment growth in the Intravenous Packaging market. With a unique approach and extensive data analysis, FMI presents a detailed perspective on the market, key growth drivers, threats and challenges that market players are likely to face during the forecast period.
The intravenous packaging market is set to witness a CAGR of 4.0% during 2021-2031. Intravenous devices are medical equipment’s that aid in the diagnosis, prevention, and treatment of a variety of illnesses, including cancer, ocular ailments, ostomies, and respiratory illnesses. Antibiotics, antipyretics, and analgesics are among the medications and fluids delivered by these devices.
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What is Driving Demand for Intravenous Packaging?
The growth of the geriatric population and the rise in chronic illnesses due to lifestyle changes are driving the intravenous packaging industry. In contrast, the medical and healthcare industry is expected to drive intravenous packing market growth because it is utilized for blood transfusions and to rectify electrolyte imbalances in patients.
Intravenous packing goods use the intravenous route of administration, which allows medicine and fluids to be delivered quickly. As a result of the expanding number of diseases, demand for intravenous packing, which is mostly utilized in the medical field, is predicted to rise.
Trends in Intravenous Packaging Likely to Augment Sales
Intravenous packing developments are being driven by complex formulations, individualized medicines, COVID-19 treatments, and environmental goals. During the forecast period, it is anticipated that the pharmaceutical packaging market would rise. This expansion is accompanied by changes in technological needs and market demands, both of which are creating innovative potential.
The growing need for patient-administered medicines, as well as the developing biological therapeutic path, are pushing innovation in injectable packaging and delivery. Continued innovation in primary packaging solutions that are registered will also aid in supply chain transparency and fake prevention.
As a result, the packaging for vaccines has to be designed with the specific needs in mind in order to maintain the medicinal product’s safety and efficacy. Advanced packaging methods for sensitive biologics including nucleic acid and protein vaccines are lowering development costs and speeding up the time to market. Thus, manufacturers are concentrating their efforts on creating more inventive intravenous packing.
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Impact of Covid- 19 on Intravenous Packaging Market
Companies were making rapid progress toward their sustainability targets prior to COVID-19. The economy has been thrown into chaos as a result of the COVID-19 crisis, and the whole packaging supply chain has been compelled to respond to unexpected new demands. The coronavirus pandemic, on the other hand, had a negative impact on a variety of companies around the world, particularly the packaging industry.
Packaging businesses were developing new technologies that were environmental friendly, reusable, and biodegradable. Concerns about the hygiene and safety of reused packaging, however, put a temporary halt to the packaging industry’s development toward a circular and sustainable supply chain.
Intravenous Packaging Market: Segmentation
In-depth analysis on FMI’s Intravenous Packaging market
report has been further classified into key segments and sub-segments.
By Product Type:
- Sacks
- Cannulas
- Others (IV Bags)
By Application:
- Hospitals
- Clinics
- Healthcare Centers
- Others
By Region:
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
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Intravenous Packaging Market: Competitive Analysis
The latest report on the Intravenous Packaging market by FMI
gives an unbiased analysis on the top 10 leading companies operating in the Intravenous
Packaging market. It provides a detailed segmentation on the market players’
product launches, strategic mergers and acquisition and revenue prospects that
will aid the players to gain a competitive edge in the industry.
Key players profiled by FMI in Intravenous Packaging market includes:
- Forlong Medical
- Baxter
- SSY Group Limited
- Nipro
- Sippex IV bag
- Amcor Plc
- MRK Healthcare
- Technoflex
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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