Companies active in the IV infusion bottle seals & caps industry are focusing on strategic acquisitions and mergers, to widen the range of product offerings in addition to expanding geographic penetration.
DUBAI, UAE / ACCESSWIRE / April 14, 2020 / Future Market Insights: The IV infusion bottle seals & caps market is projected to grow at a healthy CAGR of 5% during the forecast period (2019-2029). Growing awareness about the varied aspects of parenteral nutrition therapy, and innovations in form fill seal tech are essential factors driving the sales of IV infusion bottle seals & caps. The rising incidences of chronic ailments such as gastrointestinal diseases, ischemic gut malady, and malignancy are also aiding growth. Incentives of tech developments in the pharmaceutical packaging sector will continue to boost growth of IV infusion bottle seals & caps market, reveals Future Market Insights (FMI).
"High adoption rates of IV drugs is propelled by the increasing incidences of chronic diseases. The growing awareness about parenteral nutrition therapy will make IV administration increasingly popular, thereby, fueling the need for IV packaging,", says the FMI Analyst.
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IV Infusion Bottle Seals & Caps Market - Key Takeaways
- The IV infusion PP caps segment will remain a leading product in the market, accounting for a 5% growth rate through the forecast period.
- The 21-28 mm neck size segment will generate numerous lucrative opportunities, accounting for a US$70 Mn incremental $ opportunity.
- East Asia and South Asia will witness key growth opportunities in terms of contract manufacturing processes.
- North America will hold a leading position in the global market share, driven by high expenditure on healthcare in the region.
IV Infusion Bottle Seals & Caps Market - Key Driving Factors
- Innovations in form fill seal technologies, and the continued demand for parenteral nutrition therapy are major growth drivers.
- The widespread incidences of varied chronic diseases remain a major growth influencer.
- Strict regulations associated with packaging safety will drive the demand for PP caps, supporting overall market growth.
- Characteristics of flexibility and versatility by rubber seal products is also a driver for global market growth.
IV Infusion Bottle Seals & Caps Market - Key Constraints
- The rising popularity of IV bag packaging formats, are gradually replacing conventional bottles. This trend will reduce the demand for IV infusion bottle seals & caps, which remains a key challenge, limiting adoption rates.
Anticipated Market Impact by Coronavirus Outbreak
In the present crisis, the covid-19 outbreak is expected to result in a boost in the demand for IV infusion bottle seals & caps around the world. IV systems will continue to be an essential aspect of treating infected patients during this time, supporting the need to produce IV bottles and bags.
With the high morbidity and mortality rates associated with the coronavirus, the demand for IV infusion bottle seals & caps is expected to continue growing in the near future. The high requirements of hydrating and administering essential nutrients to patients, will remain key, particularly among serious cases. The trend will sustain avenues of revenue through the forecast period.
Explore the global IV infusion bottle seals & caps market report with 39 illustrative figures, 28 data tables and the table of contents. You can also find a comprehensive market segmentation on https://www.futuremarketinsights.com/customization-available/rep-gb-10872
Competition Landscape
Key players in the IV infusion bottle seals & caps market are Prasad Meditech, Cardinal Health Inc., Winfield Laboratories Inc., Dätwyler Holding AG, Wuxi Qitian Medical Technology Co., Ltd, Medline Industries Inc., RENOLIT SE, and B. Braun Medical Inc. Majority of these players are investing in strategic acquisitions to bolster their range of product offerings, in addition to expanding geographical reach. Moreover, substantial lucrative opportunities in the industry are expected to arise with research and development for product innovation.
More About the Report
The FMI's market research report of 300 pages offers comprehensive insights on IV infusion bottle seals & caps market. The market is analyzed on the basis of product (PP caps and rubber seals), and neck size (up to 20 mm, 21 - 28 mm, 29 - 32 mm, and above 32 mm), across seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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SOURCE: Future Market Insights