Parenteral Packaging Market | Contrive Datum Insights

The Global Parenteral Packaging Market Size Is Expected To Grow At A CAGR Of 5.5% From 2023 To 2030.

Parenteral Packaging Market Overview:

Parenteral packaging is the process of encapsulating or protecting products (mainly pharmaceuticals) for sterile medical use. The purpose of injectable packaging is to maintain the sterility of the contents until use. Parenteral packaging can be accomplished in a variety of ways, such as ampoules, vials, and bags.

Increasing penetration of retail pharmacies in developing regions and the growing focus of pharmaceutical manufacturers on brand enhancement and product differentiation are expected to drive market growth. Packaging products are mainly used to store preparations in solid, liquid, and semi-solid form, such as tablets, capsules, syrups, and topical pharmaceutical preparations. The rising prevalence of chronic diseases due to changes in lifestyle, eating habits, and sleep cycle, has resulted in increased demand for medications.

Parenteral Packaging market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Parenteral Packaging market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• June 30, 2021: SCHOTT AG announces the inauguration of its new tube factory in Jinyun, China. The new facility will help increase production for a pharmaceutical glass tubing company used to store and package life-saving medicines.
• May 19, 2020: Sharp, a subsidiary of UDG Healthcare plc, announced that it has acquired a 160,000 square foot pharmaceutical packaging facility from Quality Packaging Specialists International, LLC, located in Macunji, Pennsylvania, USA.

Major Segments Covered in the Global Parenteral Packaging Market:

Market Key Players:
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, and others

Parenteral Packaging Market by Types:

By Technique

• BAGS AND BOTILES
• AMPOULES
• VIALS
• PREFILLED SYRINGES AND CARTRIDGES
• READY TO MIX SYRINGES

• GLASS
• PLASTIC AND POLYMER
• PVC
• POLYOLEFIN

Parenteral Packaging Market by Applications:

• Small Volume Parenteral
• Large Volume Parenteral

Parenteral Packaging Market by Regions:

The report estimates revenue growth at the worldwide, regional, and country levels and delivers an analysis of the recent industry trends in each sub-segment from 2017 to 2030.

On the basis of region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Of these, North America is expected to grow at the highest CAGR during the forecast period owing to the increasing number of manufacturing facilities in the region. According to Contriv Datum Insights analysis, Asia Pacific injectable packaging market dominated with XX% share in 2020 and is expected to maintain the leading position in the overall market, among which, North America is projected to exceed the forecast period. This is due to the presence of key players in the region and growing demand for injectable packaging products. The market in Asia Pacific is expected to witness rapid growth over the forecast period owing to factors such as increasing and rising healthcare spending. Of these, North America is projected to grow at a significant CAGR during the forecast period. The growth of the market in this region is attributed to the rising number of patients requiring parenteral nutrition and increasing demand for prefilled syringes in the region. North America is projected to grow at the highest CAGR during the forecast period. The growth in North America is attributed to increasing adoption of technologically advanced parenteral packaging solutions, stringent government regulations, and growing demand for biologics and biosimilars. The Asia Pacific injectable packaging market is expected to witness a significant.

Drivers and Restraints :

Some of the major drivers for the growth of the global injectable packaging market include increasing healthcare expenditure per capita in several major economies across the globe. Parenterals are the second-largest contributor to the $962 billion global pharmaceutical market, accounting for approximately 30% share in 2014, second only to oral dosage forms.
Furthermore, the long-term estimate is that pharmaceutical spending is projected to grow at an average 4.2% pace with spending in the healthcare industry over the forecast period. Additionally, private health insurance (PHI) plays an important role in segregating the healthcare system. The overall impact of rising per capita spending and the introduction of health insurance is expected to favor the growth of the injectable packaging market.

Immunization through vaccines is a major health intervention with a major positive impact on the health of the population. The need for parenteral injections is closely related to immunization. Governments are expected to regularly roll out vaccination programs such as the Global Vaccine Action Plan (GVAP) 2011-2020 and the National Vaccine Program (NVP) in the United States to eradicate health problems such as hepatitis, polio, etc. to further drive the injectable packaging market. According to the World Health Organization (WHO), the prevalence of chronic non-communicable diseases (NCDs) is projected to increase by 57% between 2015 and 2020. In terms of geographical inclination of demand, emerging markets are expected to contribute significantly to the growth, mainly due to diseases related to changing lifestyles and increasing populations.

Report Scope of Global Parenteral Packaging Market:

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
• The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

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Note – In order to provide a more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19 and the Russia-Ukraine war.