Farmington, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The Global Parenteral Packaging Market Size Is Expected To Grow At A CAGR Of 5.5% From 2022 To 2030. Parenteral packing is the technique of encapsulating or preserving medicinal items (mostly medicines) for sterile use. The goal of injectable packing is to preserve the sterility of the contents until administration. There are numerous methods for parenteral packaging, including ampoules, vials, and bags.
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Increasing penetration of retail pharmacies in developing nations and a growing emphasis on brand development and product differentiation by pharmaceutical manufacturers are likely to fuel market expansion. Preparations in solid, liquid, and semi-solid states, such as tablets, capsules, syrups, and topical pharmaceutical preparations, are typically stored in packaging products. The increasing prevalence of chronic diseases as a result of changes in lifestyle, eating habits, and sleep patterns has raised the demand for pharmaceuticals.
Recent Developments:
- 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.
Segmentation Analysis:
Vials are small, cylindrical containers that are used to hold liquids and injectable medicines. They are made of glass or plastic, and the top has a rubber stopper that keeps the contents inside sealed. Vials can be used just once or more than once. Most single-use vials are made of clear glass so that doctors can see what's inside. Prefilled syringes and cartridges are sterile, hermetically sealed containers that hold a single dose of parenteral medication. They are used when the syringe can't or shouldn't be filled with the medicine right before it is used. Ready-to-mix systems are sterile parenteral dosage forms that don't need to be mixed or diluted again before they can be given. Both lyophilized powder and liquid formulations come in a single, unit-dose container for these systems. The ready-to-mix method could be better in many ways than the traditional multiple-dose method.
Global Parenteral Packaging is the main packaging material that comes into direct contact with the parenteral drug product. They are made to keep the contents from getting dirty until they are used. The global market for Parenteral Packaging is split up into different types, uses, and regions. Global Parenteral Packaging is used a lot in large volume parenteral (LVP) to hold and deliver into the body large amounts of sterile preparations, like total parenteral nutrition (TPN). There are different sizes of LVP bags, from 50 mL to 3000 mL.
Regional Outlook:
North America is expected to grow at the fastest rate over the next few years because there are more and more factories opening up there. According to an analysis by Coherent Market Insights, Asia Pacific led the market for injectable packaging in 2020 and is expected to continue to do so. North America is expected to grow faster than expected during the forecast period. This is because key players are in the area and the need for injectable packaging products is growing. Over the next few years, the market in Asia-Pacific is expected to grow quickly due to factors like rising and rising healthcare spending. Among these, it is expected that North America will grow at a high CAGR during the forecast period. The market in this area is growing because there are more patients who need parenteral nutrition and more people are buying prefilled syringes. During the forecast period, North America is expected to grow at the fastest rate.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 5.5% from 2023 to 2030 |
| By Technique | BAGS AND BOTILES, AMPOULES, VIALS, PREFILLED SYRINGES, AND CARTRIDGES, READY-TO-MIX SYRINGES |
| By Material | GLASS, PLASTIC AND POLYMER, PVC, POLYOLEFIN |
| By Applications | Small Volume Parenteral, Large Volume Parenteral |
| By End User | Pharmaceuticals and biotechnology industries, Hospitals and clinical diagnostic centers, University and research organizations |
| By Companies | 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 |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Some of the most important things driving the growth of the global parenteral packaging market are rising healthcare costs per person in many of the world's largest economies. In 2014, parenterals made up about 30% of the global pharmaceutical market, which was worth $962 billion. Only oral dosage forms made up a larger share of the market.
Also, over the forecast period, healthcare spending is expected to grow at an average rate of 4.2% per year, while spending on pharmaceuticals is expected to grow at an average rate of 4.2% per year. Also, private health insurance (PHI) is a big part of how the healthcare system is split up. The growth of the injectable packaging market is likely to be helped by rising spending per person and the spread of health insurance.
Immunization through vaccines is a major health intervention that has a big positive effect on the health of the population as a whole. Immunization is linked to the need for parenteral injections. Governments are expected to regularly roll out vaccination programs like the Global Vaccine Action Plan (GVAP) 2011-2020 and the National Vaccine Program (NVP) in the United States to get rid of health problems like hepatitis, polio, etc. This is expected to drive the injectable packaging market even more. The World Health Organization (WHO) says that the number of people with chronic non-communicable diseases (NCDs) will rise by 57% from 2015 to 2020.
Key Segments Covered:
Top Market 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.
By Technique
- BAGS AND BOTILES
- AMPOULES
- VIALS
- PREFILLED SYRINGES AND CARTRIDGES
- READY TO MIX SYRINGES
By Material
- GLASS
- PLASTIC AND POLYMER
- PVC
- POLYOLEFIN
Parenteral Packaging Market by Applications:
- Small Volume Parenteral
- Large Volume Parenteral
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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