Beyond the IV Drip: The Expanding Universe of the Small Volume Parenteral Market
Depending on the intended usage, small volume parenteral (SVP) solutions are packed differently and are typically 100 ml or less.
If the SVP is a liquid that is mostly used to administer medication, it is packed in a 50–100 ml minibag, which is a small plastic bag that resembles tiny plastic LVP bags.
Additionally, SVPs can be supplied as vials, ampules, and prefilled syringes. Liquid medications are supplied in vials with rubber closures, heat-sealed ampules, or prefilled syringes.
The Small Volume Parenteral (SVP) Market is moving beyond the traditional image of IV drips, offering a diverse range of medication delivery solutions. Unlike bulky intravenous bags, SVPs are contained in smaller, more convenient formats, often used for single doses. This report explores the expanding universe of the Small Volume Parenteral Market and its key drivers.
Global Small Volume Parenteral Market size is expected to reach US$ 298.57 Bn by 2030, from US$ 179.62 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 7.5% during the forecast period.
Market Drivers
Several factors are fueling growth within the Small Volume Parenteral Market Demand:
- Versatility Beyond Traditional Applications:The market is witnessing a shift beyond vaccines and antibiotics. SVPs are increasingly used for pain management, chemotherapy, and other specialized medications, expanding their therapeutic reach.
- Focus on Patient Convenience:The portability and ease of use of SVPs make them ideal for outpatient settings and even home healthcare, promoting patient comfort and faster recovery times.
- Improved Drug Delivery Systems:Advancements in prefilled syringe technology and container closure systems enhance the safety, sterility, and user-friendliness of SVPs.
Aging Population and Chronic Disease Management: The rising prevalence of chronic diseases in the aging population necessitates targeted and efficient medication delivery solutions, fueling demand for SVPs.
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