The global IV infusion bottle seals and caps market is poised for significant growth, with projections indicating a rise from US$ 168.0 million in 2023 to US$ 283.9 million by 2033. This growth, occurring at a notable compound annual growth rate (CAGR) of 5.4% from 2023 to 2033, is driven by various factors including the increasing prevalence of chronic diseases and the growing demand for parenteral nutrition.
Report Highlights: Important Revelations
- Current Market Valuation (2023): The IV infusion bottle seals and caps market is valued at US$ 168.0 million.
- Growth Outlook (2023-2033): The market is estimated to grow at a CAGR of 5.4% through 2033.
- Market Size by 2033: The market is predicted to reach US$ 283.9 million by 2033.
- Dominant Neck Size: Neck size 21 to 28 mm occupied nearly 65.6% of the market share in 2022.
- Market Shares of India and China (2022): India accounted for 7.2%, and China accounted for 6.5% of the market share.
Request For a sample report: www.futuremarketinsights.com/reports…p-gb-10872
The need for an effective medicine administration system is fueled by the many illnesses that older people experience. Drugs administered intravenously (IV) are preferred over those administered orally since the former produces effective outcomes faster and more accurately.
The preference for IV administration is anticipated to be directly influenced by consumer generosity, driving the growth of the IV infusion bottle seals & caps market throughout the projected period. Furthermore, market growth is anticipated to be boosted by printing technology advances.
The industry’s growing automation will probably amplify technical advancements in the upcoming years.
North America is anticipated to dominate the global market shares. A strong healthcare system and the persistent search for the best medical polymers aid regional growth.
The increased improvements in pharmaceutical plastic bottles are also contributing to market expansion in North America. Leading companies in the IV infusion bottle seals and caps market are attempting to expand their worldwide reach.
They are emphasizing maximizing their return on investment by implementing an outsourcing approach. To reduce their operating, logistical, and transportation costs, North American pharmaceutical packaging industries collaborate with East Asian and South Asian businesses.
Growth Drivers:
- Increasing Demand for Intravenous Therapies: The rising prevalence of chronic diseases and the growing aging population contribute to a higher demand for intravenous therapies, driving the need for secure and reliable IV infusion bottle seals and caps.
- Advancements in Healthcare Technology: Technological advancements in the healthcare sector, such as the development of innovative drug delivery systems and smart infusion devices, fuel the demand for specialized and technologically advanced seals and caps for IV infusion bottles.
- Stringent Regulatory Standards: Stringent regulatory standards regarding drug safety and packaging in the pharmaceutical industry necessitate the use of high-quality and tamper-evident seals and caps for IV infusion bottles, creating a consistent demand for compliance-driven products.
- Rise in Home Healthcare: The increasing trend towards home healthcare and self-administration of medications amplifies the need for user-friendly and secure IV infusion bottle seals and caps, contributing to market growth.
- Globalization of Pharmaceutical Production: The globalization of pharmaceutical production and distribution networks increases the demand for standardized packaging solutions, including seals and caps, to ensure product integrity and quality during transportation across borders.
Segment Insights:
- PP Caps:
- The PP (polypropylene) caps segment captured 61.8% of the market share in 2022 and is expected to continue its dominance. The popularity of PP caps is attributed to their cost-effectiveness, ease of use, high chemical resistance, low permeability, lightweight, and lower carbon footprint.
- 21 to 28 mm Neck Size:
- The 21 to 28 mm neck size segment held 65.6% of market shares in 2022. This size is standard in the industry, offering compatibility with commonly used IV infusion bottles and interchangeability with other brands. These factors, along with cost-effectiveness and wide availability, drive the segment’s growth.
- Packaging Application:
- The packaging application segment is expected to see significant growth due to increasing demand for packaged products and rising global population. Product differentiation in the pharmaceutical industry and technological advancements in printing technology further bolster this segment’s expansion.
Key Players in this Market:
- B. Braun Medical Inc.
- RENOLITSE
- Medline Industries Inc.
- Wuxi Qitian Medical Technology Inc.
- Prasad Meditech
- Taiwan Hon Chuan Enterprise
- Jiangsu Changjiang Lids
- Cardinal Health Inc.
Access Now to Access Segment-specific Information and uncover Key Trends, Drivers, and Challenges: www.futuremarketinsights.com/checkout/10872
Market Segmentation:
By Product:
- PP Caps
- Rubber Seals
By Neck Size:
- Up to 20 mm
- 21 to 28 mm
- 29 to 32 mm
- Above 32 mm
By Application:
- Packaging
-
- Cups & Lids
- Trays
- Boxes & Cartons
- Pouches & Sachets
- Labels
- Blisters & Clamshells
- Wraps
- Tapes
- Printing
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube