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 analysts employ primary as well as secondary research
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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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