Technavio has announced the top five leading vendors in their recent global IV (intravenous) product packaging market report until 2020. This research report also lists nine other prominent vendors that are expected to impact the market during the forecast period.

Competitive vendor landscape

According to the report, IV products provide various benefits to physicians, patients, and pharmaceutical or biotechnology companies. It has been understood that the introduction of this medication, transfusion, and drug delivery system is likely to improve compliance and reduce side effects for the patients, providing enhanced patient management.

“The global IV product packaging market is fragmented with several multinational, regional, and local vendors. The smaller and local vendors are facing difficulty to compete with international vendors in terms of quality, features, and range of offerings. Owing to an increase in health awareness among the people, vendors have huge scope for innovation in products such as different type of cannulas and advanced material used in the manufacturing of bags. It is expected that the international players will grow inorganically during the forecast period by acquiring regional or local players,” says Sharan Raj, a lead packaging analyst from Technavio.

The report also states that companies with greater technical and financial resources are developing products that can make competitors' products obsolete and non-competitive, even before they are launched or before R&D and commercialization costs have been recovered. To survive and succeed in an intensely competitive environment, it is important for vendors to distinguish their products and service offerings through a clear and unique value proposition. To remain competitive in the market, vendors not only have to develop new products but also have to compete on pricing to prevent an impact on their product lines by addressing the core requirements of customers.

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Top five global IV product packaging market vendors

Baxter

Baxter was incorporated in 1931 and is headquartered in Deerfield, Illinois, US. It provides a portfolio of essential renal and hospital products. The company's offerings include sterile IV solutions; home, acute and in-center dialysis; infusion systems and devices; biosurgery products and anesthetics; parenteral nutrition; and pharmacy automation, software, and services. Its products are used by kidney dialysis centers, hospitals, nursing homes, rehabilitation centers, and by patients at home under physician supervision.

Baxter carries out the manufacturing of ready-to-use premixed drugs and commercially prepared IV solutions in flexible IV containers. It provides a range of irrigation solutions and sets to suit a range of applications, including orthopedic, urology, and gynecological procedures. These solutions are offered in one and three-liter presentations.

Nipro

Nipro was established in 1954 and is headquartered in Kita-ku, Osaka, Japan. The company designs, produces, and sells medical devices, pharmaceuticals, and glass products. It has started its business with the sales of tube glass for ampoules and vials and later expanded its business to the medical devices and pharmaceutical manufacturing. For the FY2015, the company generated a revenue of USD 2.71 billion.

The company through its subsidiary, Nipro Medical carries out the manufacturing of medical-surgical, renal, and interventional radiology products. It produces a range of injection and intravenous products, including standard and custom cannulas, syringes, catheters, and hypodermic needles. The company's manufacturing facilities are located in Thailand, Japan, and China.

Nipro Medical through its custom manufacturing division provides various solutions as per the requirement of its customers, including cannula forming, automated assembly, plastic and extrusion injection molding, packaging, and sterilization.

Renolit

Renolit was founded in 1946 and is headquartered in Worms, Germany. It undertakes the manufacturing of high-quality plastic films and other related products for technical applications. The company employs a workforce of about 4,500 employees at over 30 production sites and sales entities. Renolit is a part of JM Holding. For FY2014, the company generated revenue of USD 1.22 billion.

The company, through its medical business unit, offers flexible bags for IV applications both in PVC and in polyolefin materials. Its offerings include infuflex (PP) double wound flat film, Renolit Solmed medipak (PVC) and Mediflex (PP) tubular film, Renolit Solmed Medigranuul (PVC) and Granuflex (PP) injection molding compounds for port manufacturing. The company also provides ports and caps for IV bags and bottle closures.

Sippex

Sippex, a Medippex company, was founded in 1982 and is headquartered in Courzieu, France. It designs and manufactures connectors and medical bags. The company's manufacturing sites are located in France and China. Its offerings are sold in over 50 countries. Sippex's customers include generics manufacturers, in vitro diagnostic companies, pharmaceutical companies, veterinary laboratories, and packaging manufacturers.

Wipak

The company was founded 1969 and is headquartered in Bomlitz, Germany. It undertakes the manufacturing and development of multilayer films (specifically barrier films) and high-end packaging solutions in Europe. The company operates 10 factories all over Europe, and its products are categorized into two main categories: food packaging, and medical packaging. It is a part of the Finland-based Wihuri Group.

Wipak develops and manufactures packaging films for food products such as meat, baked goods, dairy products, ready meals, confectionery, coffee, fish, and a multitude of re-closable packages. It also provides customized packages for the tobacco industry and supply films for processing industry applications.

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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 630 333 9501UK: +44 208 123 1770www.technavio.com