Bag-on-valve (BOV) Technology Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 54.75 Million |
| Market Size (2029) | USD 65.59 Million |
| CAGR (2024 - 2029) | 3.68 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Bag-on-valve (BOV) Technology Market Analysis
The Bag-on-valve Technology Market size is estimated at USD 54.75 million in 2024, and is expected to reach USD 65.59 million by 2029, growing at a CAGR of 3.68% during the forecast period (2024-2029).
The bag-on-valve (BOV) technology market is growing due to several factors. The demand for eco-friendly packaging is rising as consumers and businesses aim to reduce their environmental impact. BOV technology supports this trend by using environmentally friendly propellants and materials, reducing waste, and promoting sustainability. Additionally, the need for contamination-free packaging has increased demand for BOV systems, which keep products sealed from air and contaminants until use, preserving integrity and extending shelf life. The pharmaceutical industry's extensive use of BOV technology also drives the market's growth, as it delivers precise doses hygienically and effectively, meeting stringent safety and accuracy requirements.
The shift to eco-friendly packaging solutions has driven manufacturers to adopt BOV technology to meet consumer preferences and comply with environmental regulations. For instance, as per an article published by Packmile in September 2023, BOV technology aligns with sustainability goals by utilizing compressed air or inert gases as propellants, reducing reliance on harmful chemical propellants. This shift is crucial as consumers become more conscious of their ecological footprint and demand greener packaging solutions. Traditional aerosol systems often use hydrofluorocarbons (HFCs) or other harmful propellants, which are less environmentally friendly. In contrast, BOV technology can utilize environmentally benign propellants and materials that contribute to reduced environmental impact. Thus, this demand for greener alternatives has expanded the market for BOV systems, thereby boosting the market's growth.
Moreover, the extensive use of BOV technology in the pharmaceutical sector has significantly contributed to the market's growth. As the demand for advanced drug delivery systems increases, pharmaceutical companies are increasingly adopting BOV technology owing to its advantages in the pharma industry. BOV technology is increasingly utilized in the pharmaceutical industry for its benefits in controlled dosing, contamination-free delivery, and enhanced product stability. BOV systems ensure precise and accurate dosing while protecting the product from air and contaminants by keeping the medication in a sealed, flexible bag within the canister. This maintains the medication’s purity and extends its shelf life, which is crucial for sensitive pharmaceuticals. Additionally, BOV technology enables the hygienic and efficient application of drugs in forms such as sprays or foams, making it a versatile and valuable tool in pharmaceutical packaging.
In pharmaceuticals, the bag-on-valve technology used for aerosol products is applicable for wound care, inhalational products, and dermatological products, and hence, the growing burden of such diseases is expected to increase demand for the BOV technology in the pharmaceutical sector, driving the market's growth. For instance, an article published in April 2024 in the Wound Journal highlighted that chronic wounds impacted over 6.5 million individuals in the United States in 2023, which led to an annual cost of USD 25 billion for the healthcare system. On average, patients with wounds account for 25% to 40% of hospital bed occupancy. Thus, BOV technology helps to deliver wound care products such as antiseptic spray, hydrogel, and ointment, which is anticipated to bolster the market's growth.
The growth of the BOV technology market is driven by the increasing preference for eco-friendly packaging, heightened awareness of contamination-free packaging, and its extensive use in the pharmaceutical industry. However, technical limitations and regulatory challenges are anticipated to restrain the market's growth.
Bag-on-valve (BOV) Technology Market Trends
The Nasal Spray Segment is Expected to Hold a Significant Share in the Market During the Forecast Period
The nasal spray segment within the BOV technology market is gaining momentum due to its innovative delivery system that ensures sterility and precise dosage. Key driving factors include the increasing prevalence of respiratory conditions, such as allergies and asthma, necessitating effective drug delivery methods. Additionally, the increasing demand for patient-friendly, non-invasive treatment options is propelling the adoption of nasal sprays. BOV technology allows for easy application without direct contact, reducing contamination risks.
The growing prevalence of chronic conditions, such as asthma, allergies, and skin disorders, necessitates effective treatment options. BOV technology facilitates targeted and efficient drug delivery, appealing to healthcare providers and patients. For instance, as per data published by the American Lung Institute in July 2024, 44.2 million Americans, representing 13.5% of the population, received an asthma diagnosis from a healthcare professional in 2022. Among the age groups, adults aged 18-55 exhibited the highest lifetime prevalence rates at 16.8%. In 2022, females were diagnosed with asthma at a rate of 14.2%, approximately 12% higher than the 12.7% rate observed in males. Thus, the high burden of these diseases is expected to boost the demand for BOV technology to facilitate drug delivery, thereby boosting the market's growth.
Companies are investing in state-of-the-art production facilities equipped with the latest technologies for high-efficiency manufacturing of BOV systems. This includes upgrading equipment for precision engineering and automation, which enhances the production capacity of cosmetics and reduces cost, which is likely to drive the segment's growth. For instance, in January 2024, Tri-Pac proudly announced the commissioning of its latest line in the United States, enhancing its BOV capabilities. This new line boosts the overall aerosol capacity by 5 million units and establishes a dedicated GMP filling line for medical devices and pharmaceuticals. Tri-Pac is rapidly expanding its core aerosol offerings and is committed to further developing products within the BOV dispensing systems.
Thus, increasing application and benefits of the valve on technology in the cosmetic industry and strategic activities taken by the market players are anticipated to drive the segment's growth during the forecast period.
North America is Expected to Hold a Significant Share in the Market During the Forecast Period
The North American bag-on-valve (BOV) technology market is poised for significant growth due to rising demand for contamination-free products, sustainability initiatives, advancements in manufacturing technologies, expanding applications across various industries, regulatory compliance needs, and consumer preferences for convenient packaging solutions. These factors collectively contribute to a favorable market environment for BOV technology in the coming years.
By increasing the scale of their operations, manufacturers can produce larger quantities of BOV systems to meet rising demand, which is expected to drive the market's growth. For instance, in August 2024, the LINDAL Group launched a new production line for its popular nasal actuator, Pinocchio, at its Columbus facility in the United States. This strategic move enhances the company's capacity to cater to the surging market demand, significantly improving lead times for its global clientele. Pinocchio, crafted from mono material, caters to both children and adults. Additionally, it comes with a sterilizable overlap and seamlessly integrates with LINDAL's extensive range of female valves and BOV technology. Thus, by implementing these strategies, market players are effectively increasing their production capabilities, supporting the expansion of the BOV technology market by meeting growing consumer and industry demands.
Moreover, companies are forming strategic partnerships with other industry players, such as packaging suppliers and product manufacturers, to enhance their production capabilities. Collaborations enable the sharing of expertise and resources, accelerating the development and deployment of BOV systems. For instance, in March 2024, Tri-Pac announced the commissioning of its latest line, enhancing its conventional aerosol-filling capabilities in the United States. This new line boosts the overall aerosol capacity by 10 million units and establishes a dedicated GMP filling line for OTC, medical device, and cosmetic categories.
Similarly, in March 2024, Aptar Pharma, part of AptarGroup Inc., announced a significant move in its strategy to expand capacity in North America. The company's facility in Congers, New York, is poised to enhance its production capabilities. In response to rising regional demand for nasal saline solutions, Aptar Pharma is launching a new assembly line specifically designed to boost the production of its BOV technology for pharmaceuticals. This diversification supports the market's growth by addressing a broader array of consumer needs.
Thus, increasing demand for contamination-free packaging and strategic activities by the market players, such as collaboration and expansion, are anticipated to boost the market's growth during the forecast period.
Bag-on-valve (BOV) Technology Industry Overview
The BOV technology market is semi-consolidated with the presence of several key players. The companies are focusing on expanding their product lines and enhancing manufacturing capabilities to meet the increasing demand for BOV technology. Some of the key market players are AptarGroup Inc., Coster Tecnologie Speciali SpA, LINDAL Group Holding GmbH, Precision Valve Corporation, Exal Corporation, and KOH-I-NOOR Mladá Vožice AS.
Bag-on-valve (BOV) Technology Market Leaders
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AptarGroup, Inc.
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Coster Tecnologie Speciali S.p.A
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LINDAL Group Holding GmbH
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KOH-I-NOOR Mladá Vožice a.s.
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Precision Valve Corporation
*Disclaimer: Major Players sorted in no particular order
Bag-on-valve (BOV) Technology Market News
- April 2024: JEENAR Company unveiled a next-gen valve bag manufacturing machine boasting proprietary core technology and a suite of patented inventions. This cutting-edge technology surpasses comparable offerings both domestically and internationally.
- October 2023: LINDAL Group, a leading manufacturer of aerosol valves, actuators, and spray caps, unveiled its strategy to ramp up bag-on-valve production. The company is expanding its manufacturing lines in North America and Europe to cater to the surging consumer demand for pharmaceuticals, medical devices, and cosmetics.
Bag-on-valve (BOV) Technology Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Growing Preference for Eco-friendly Packaging and Rising Awareness about Contamination Free Packaging Solutions
- 4.2.2 Increasing Adoption of BOV Technology in the Pharmaceutical Industry
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4.3 Market Restraints
- 4.3.1 Technical Limitations and Regulatory Challenges
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
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5.1 By Product
- 5.1.1 Aerosol BOV
- 5.1.2 Standard BOV
- 5.1.3 Non-spray/Low-pressure BOV
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5.2 By Container
- 5.2.1 Aluminum
- 5.2.2 Tin Plate
- 5.2.3 Steel
- 5.2.4 Plastic
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5.3 By Capacity
- 5.3.1 Below 100mL
- 5.3.2 100mL-300mL
- 5.3.3 300mL-500mL
- 5.3.4 Above 500mL
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5.4 By Application
- 5.4.1 Respiratory Diseases
- 5.4.2 Skin Diseases
- 5.4.3 Other Applications
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5.5 Geography
- 5.5.1 North America
- 5.5.1.1 United States
- 5.5.1.2 Canada
- 5.5.1.3 Mexico
- 5.5.2 Europe
- 5.5.2.1 Germany
- 5.5.2.2 United Kingdom
- 5.5.2.3 France
- 5.5.2.4 Italy
- 5.5.2.5 Spain
- 5.5.2.6 Rest of Europe
- 5.5.3 Asia-Pacific
- 5.5.3.1 China
- 5.5.3.2 Japan
- 5.5.3.3 India
- 5.5.3.4 Australia
- 5.5.3.5 South Korea
- 5.5.3.6 Rest of Asia-Pacific
- 5.5.4 Middle East and Africa
- 5.5.4.1 GCC
- 5.5.4.2 South Africa
- 5.5.4.3 Rest of Middle East and Africa
- 5.5.5 South America
- 5.5.5.1 Brazil
- 5.5.5.2 Argentina
- 5.5.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 KOH-I-NOOR Mlada Vozice AS
- 6.1.2 Coster Tecnologie Speciali SpA
- 6.1.3 Summit Packaging System
- 6.1.4 Shanghai Golden Aerosol Company Limited
- 6.1.5 Chicago Aerosol LLC
- 6.1.6 AptarGroup Incorporation
- 6.1.7 Precision Valve Corporation
- 6.1.8 LINDAL Group Holding GmbH
- 6.1.9 Exal Corporation
- 6.1.10 Colep
- 6.1.11 Solmatic - Solmatic Group Sp. z o.o. Sp. K.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityBag-on-valve (BOV) Technology Industry Segmentation
As per the scope of the report, bag-on-valve (BOV) technology is a packaging system used primarily for aerosol products, where a flexible bag containing the product is placed inside a rigid canister. The propellant gas is located between the bag and the canister. When the valve is actuated, the pressurized gas pushes the product out of the bag through the valve while the bag collapses to prevent air from entering.
The bag-on-valve (BOV) technology market is segmented by product, container, capacity, application, and geography. By product, the market is segmented as aerosol BOV, standard BOV, and non-spray / low-pressure BOV. By container, the market is segmented as aluminum, tin plate, steel, and plastic. By capacity, the market is segmented as below 100mL, 100mL-300mL, 300mL-500mL, and above 500mL. By application, the market is segmented into respiratory diseases, skin diseases, and other applications. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report offers the value (USD) for the above segments.
| By Product | Aerosol BOV | |
| Standard BOV | ||
| Non-spray/Low-pressure BOV | ||
| By Container | Aluminum | |
| Tin Plate | ||
| Steel | ||
| Plastic | ||
| By Capacity | Below 100mL | |
| 100mL-300mL | ||
| 300mL-500mL | ||
| Above 500mL | ||
| By Application | Respiratory Diseases | |
| Skin Diseases | ||
| Other Applications | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Bag-on-valve (BOV) Technology Market Research FAQs
How big is the Bag-on-valve Technology Market?
The Bag-on-valve Technology Market size is expected to reach USD 54.75 million in 2024 and grow at a CAGR of 3.68% to reach USD 65.59 million by 2029.
What is the current Bag-on-valve Technology Market size?
In 2024, the Bag-on-valve Technology Market size is expected to reach USD 54.75 million.
Who are the key players in Bag-on-valve Technology Market?
AptarGroup, Inc., Coster Tecnologie Speciali S.p.A, LINDAL Group Holding GmbH, KOH-I-NOOR Mladá Vožice a.s. and Precision Valve Corporation are the major companies operating in the Bag-on-valve Technology Market.
Which is the fastest growing region in Bag-on-valve Technology Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Bag-on-valve Technology Market?
In 2024, the North America accounts for the largest market share in Bag-on-valve Technology Market.
What years does this Bag-on-valve Technology Market cover, and what was the market size in 2023?
In 2023, the Bag-on-valve Technology Market size was estimated at USD 52.74 million. The report covers the Bag-on-valve Technology Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Bag-on-valve Technology Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Bag-on-valve (BOV) Technology Industry Report
Statistics for the 2024 Bag-on-valve (BOV) Technology market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Bag-on-valve (BOV) Technology analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
