PARENTERAL PACKAGING MARKET ANALYSIS

Parenteral Packaging Market – Insights

Parenteral packaging is the process of packaging drugs or other fluids to keep their potency and therapeutic effectiveness intact till the drug is administered. Parenteral packaging is required to protect drugs from contamination and from the aseptic administration to the patient. On the basis of materials, the parenteral packaging market is segmented into plastic & polymer and glass segments. The pharmaceuticals sector has witnessed significant technological advancements in the recent past. As a result, recent advancement in routes of drug administration are shaping the market demand for parenteral packaging.

The global parenteral packaging market is estimated to be valued at US$ 10,759.0 million in 2019 and is expected to witness a robust CAGR of 11.1% during the forecast period (2019 – 2027)

Figure 1. Global Parenteral packaging Market Share (%), by Product Type, (2019 & 2027)

To learn more about this report, request a free sample copy

Source: Coherent Market Insights Analysis (2020)

Material used in parenteral packaging is the primary packaging material which is in direct contact with the drug. Packaging is intended to protect the product from the external environment, as contamination can impact the stability of the drug and affect health of patients, or may lead to serious complications.

There has been an increase in demand for parenteral packaging, in order to enhance protection of drugs, which is expected to propel the global parenteral packaging market growth. Parenteral packaging plays an important role in retaining the quality of the formulation. Moreover, increasing technological advancements in parenteral manufacturing and packaging are expected to drive the global parenteral packaging market growth. Factors such as the growing trend of using prefilled syringes and cartridges, ready-to-use containers, more efficient filling/closing operations and other material made of glass and plastic for injectables has lowered the risk of contamination of parenteral products.

Also, major players are focusing on offering a wide range of packaging materials for parenteral drugs. For instance, Gerresheimer AG, a global supplier in healthcare, a pharmaceutical company, offers a range of parenteral packaging products including bottles, vials and syringes made of plastic and glass.

Global Parenteral packaging Market – Regional Analysis

On the basis of region, the global parenteral packaging market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America holds a major market share, followed by Europe, in the global parenteral packaging market. This is mainly due to rise in prevalence of cancer, which is projected to favor the growth of the parenteral packaging market. According to the American Cancer Society (ACS) 2019, in  the U.S. an estimated 870,970 males and 891,480 females of all ages suffered from four major types of cancer such as lungs and bronchus, colon and rectum, breast, and prostate.

Also, Asia Pacific is expected to witness significant growth in the parenteral packaging market due to the continually increasing aging population and lifestyle changes which have led to an increase in the prevalence of chronic diseases such as diabetes. According to International Diabetes Federation 2017, around 425 million people have diabetes in the world, and the number is expected to increase to 151 million. Moreover, among 425 million diabetes cases, around 72,946,400 cases of diabetes are reported in India.

Figure 2: Global Parenteral Packaging Market Share (%), By Region, (2019 & 2027)

To learn more about this report, request a free sample copy

Source: Coherent Market Insights Analysis (2020)

Restraints

Factors such as limited availability of raw materials and instability in price of raw materials is estimated to hamper the growth of the parenteral packaging market. Moreover, the complex registration process of packaging is expected to be a restraint in the global parenteral packaging market growth.

Key players

Key players operating in the parenteral packaging market include Gerresheimer AG, Schott AG, Unilife Corporation Inc, Becton Dickinson and Company, Ypsomed Holding AG, West Pharmaceutical Services, Inc., SiO2 Medical Products, Terumo Corporation, Ompi Stevanato Group, Berry Plastics Corporation, MeadWestvaco Corporation, Owens-Illinois, RPC Group, and Graphic Packaging Group.