Parenteral Packaging Market – Increase in Prevalence of Chronic Diseases Fuel the Growth of Parenteral Packaging Market
Parenteral packaging is the process of packaging drugs or other fluids to keep its potency and therapeutic effectiveness intact throughout the time till the drug is administered. Parental packaging is required to protect drugs from contamination and from the aseptic administration to the patient. On the basis of materials parenteral packaging market is segmented into plastic & polymer and glass segments. The plastic and polymer are more durably then glasses used for parenteral packaging. The pharmaceuticals sector has witnessed significant technological advancements in the recent past. As a result, recent advancement in routes of drug administration is shaping the market demand for parenteral packaging.
Continuous rise in chronic disease cases is expected to support the demand of parenteral drugs which in turn support the growth of parenteral packaging market in the near future. Asthma is one of the major chronic disease of air passages of the lungs. According to the World Health Organization (WHO) around 235 million people are suffering currently from asthma, it was estimated around 383,000 deaths occurred due to asthma in 2015 and the strong risk factor for asthma are inhaled substances and particles that causes allergic reaction which are exposed in environment. The fundamental causes of asthma can be tobacco smoke, chemical irritants at the workplace and air pollution.
The global parenteral packaging market was valued at US$ 7,845.7 million in 2016 and is expected to witness a robust CAGR of 11.1% during the forecast period (2017 – 2025)
Increase in incidence of cancer around the globe expected to support the growth of parenteral packaging market over the forecast period
North America holds the major market share, followed by Europe in the global parenteral packaging market. This is mainly due to rise in cancer case is projected to favor the growth of parenteral packaging market. According to the American Cancer Society (ACS) in the U.S. it was estimated that in 2016 around 1,685,210 cases of cancer was diagnosed and around 595,690 cancer deaths occurred this is due to the high risk factors such as smoking of cigarettes, consumption of alcohol and obesity rate this will led to the high proportion of chronic diseases in the U.S.
Furthermore, In Europe as per the American Cancer Society (ACS) it was estimated around 3.5 million new cancer cases were occurred in 2012, among this were the lung and colorectal cancer which lead to the cause of death in Europe.
Also, it is expected that the parenteral packaging market growth rate will increase in Asia Pacific region during forecast period due to the continuous increase in aging population which leads to the chronic disease such as diabetes which is expected to favor the growth of parenteral packaging market. According to National Center for Biotechnology Information (NCBI) the diabetes was estimated to be around 36% in west pacific region in 2013. Whereas according to the International Diabetes Federation (FDI) around 415 million people have diabetes in the world and 78 million people in the South East Asia have diabetes, by 2040 it will rise around 140 million and there were around 69.1 million cases of diabetes in India in 2015.
The advancement in manufacturing processes used to develop pharmaceutical packages play a vital role in the growth of the global pharmaceutical packaging market. Advanced manufacturing processes includes green packaging technologies, uses of environment-friendly materials which may cause no harm to the environment. The raw materials used for eco-friendly packaging include paper, cardboard, and corn starch, by the use of biodegradable materials supports the sustainability of pharmaceutical product lifecycle and thus, pharmaceutical manufacturers increase the demand for sustainable packaging.
Key players in the parenteral packaging market include Gerresheimer AG, Schott AG, Becton, Unilife Corporation, Inc, Dickinson and Company, Ypsomed Holding AG, West Pharmaceutical Services, Inc., SiO2 Medical Products, Terumo Corporation, Ompi, Stevanato Group and Nipro Corporation, Berry Plastics Corporation, Becton Dickinson and Company, MeadWestvaco Corporation, Owens-Illinois, RPC Group, Schott Pharmaceuticals Services Inc., and Graphic Packaging Group.
Parenteral packaging is the process of packaging injectables or other fluids to keep its potency and therapeutic effectiveness intact throughout the time till the drug is administered. Parental packaging is required to protect the drugs from contamination due to microorganisms and from the aseptic administration to the patient. On the basis of materials parenteral packaging market is segmented into plastic & polymer and glass segments. The plastic and polymer are more durably then glasses used for parenteral packaging. Eco-friendly materials such as bio-plastics made from plants, sugar bagasse, forest wood, recycled plastic and palm leaf are also used for parenteral packaging
The pharmaceuticals industry has witnessed significant technological advancements over the last few years. As a result, recent advancement in routes of drug administration is shaping the market demand for parenteral packaging
Increase in the prevalence of Alzheimer’s disease (AD) and aging population around the globe is expected to favor the growth in parenteral packaging market. According to the World Health Organization (WHO), the AD cases worldwide was estimated to be around 47 million and it will increase around 75 million by 2030 and the number of cases is expected to triple by 2050, due to the high prevalence rate and lack of healthcare services in rural areas.
Also, increase in aging population and rise in demand for medication in the treatment of lifestyle diseases such as diabetes, are the other factors leading to the increase in use of parenteral drugs in developed and emerging economies. As per the SeniorCare the U.S. aging population was estimated to be around 50,683,620 in 2016 and is expected to be around 71,453,471 by the year 2030. And according to the National Institute on Aging (NIA) population worldwide is around 8.5% and it will rise around 17% by the year 2050.
This report segments the global parenteral packaging market on the basis of product material and geography. On the basis of material, the market is categorized into glass, plastic& polymer PVC and polyolefin. Among these, the plastic& polymer segment dominate the parenteral packaging market throughout the forecast period. On the basis of packaging type, the market is segmented into small volume and large volume parenteral. Among these type the large volume parenteral holds the largest market share throughout the forecast period. On the basis of geography, the market is divided into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Among all regions, North America contributes major market share, supported by increased incidence rate of chronic disease and growing inclination of the populace towards minimally invasive procedures.
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