The global IV infusion bottle seals and caps market is poised for remarkable growth between 2023 and 2033, according to a research report by Future Market Insights. Starting at a valuation of US$ 168.0 million in 2023, the market is projected to reach a substantial valuation of US$ 283.9 million by 2033, exhibiting a notable compound annual growth rate (CAGR) of 5.4% during this period.
This rise is supported by the market’s distinctive characteristics, primarily the dominance of structured enterprises, particularly those in Tier 1. These companies have a substantial market share and offer a wide range of products. Their input is crucial to the growth of the IV infusion bottle seals and caps industry. Additionally, Tier 1 companies should prioritize market expansion, market consolidation, and supply chain enhancements in order to fortify their positions.
However, Tier 2 players—regional and unorganized sector players—maintain a presence in several nations and a well-rounded portfolio in the IV infusion bottle seals and caps market. The relationship between these two participant tiers will be critical in determining the market’s future direction as it develops further.
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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 course of 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.
Key Takeaways:
- The global IV infusion bottle seals and caps market size stood at US$ 132.2 Million in 2018.
- From 2018 to 2022, the market expanded at a moderate CAGR of 4.8%.
- In 2022, the market size stood at US$ 159.6 Million.
- The PP caps segment by product captured 61.8% of market shares in 2022.
- The neck size 21 to 28 mm segment garnered 65.6% market shares in 2022.
- North America occupied 32.6% market share in 2022.
- The United States IV infusion bottle seals and caps market captured 30.2% market shares in 2022.
- Europe IV infusion bottle seals and caps market accounted for 30.9% of global market shares in 2022.
Recent Developments Observed by FMI:
- In 2021, Cardinal Health stated that CVS Health has extended the terms of its contracts for the delivery of medicines to retail pharmacies and distribution centers through June 30, 2027.
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.
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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
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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