Parenteral Packaging Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026

Parenteral Packaging Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2026
The global parenteral packaging market is predicted to value over US$ 19 billion by
the end of 2026 and expand at a CAGR of over 11.1% during the forecast period of
2019-2026.
Parenteral packaging is the specific packaging of drugs or other fluids to safeguard its
effectiveness and therapeutic potency from getting lost. The plastic and polymer
type of parenteral packaging is considered more durable than glass. The sector of
pharmaceuticals has witnessed tremendous technological advancements shaping the
market viability for parenteral packaging.
Packaging of pharmaceuticals ensures factors such as moisture, sunlight, and other
factors which might degrade the effect of the drug, from coming into contact. This
aims to inhibit the microbial growth thus consequently extending the shelf life of the
drug as well. Parenteral drugs which are directly consumed in the body should be
absolutely aseptic and uninfected, so safe and secure packaging plays a vital role in
the parental drugs
The new improvements in packaging solutions which ensure quality, security,
guarantee, and patient needs are will have a positive impact on consumers. This is
estimated to drive the market towards innovative parenteral packaging.
Furthermore, with the number of regulatory policies in place, standards of the drugs
are maintained and thus the growth of this market is said to be rocketing. Policies
like Parenteral Drug Association (PDA), Food and Drug Administration (FDA) and
Healthcare Compliance Packaging Council (HCPC) regulate the standards thus
providing confidence to the public. With the increase in health hazards and chronic
diseases, there is mushroom demand for certain drugs and therefore their packaging
as well. The population explosion in the Asia Pacific region as well as taking into
account the geriatric population, these countries and regions make up for the major
market consumption and boost the growth of the same in the forecast period.
With the help of technology, manufacturing processes have also been upgraded and
used in the packaging as well as delivery of the drugs, thus ensuring utmost security
and guarantee. These manufacturing processes involve the use of sustainable
technology and eco-friendly substances thus making it more viable as well as
environment-friendly. The use of biodegradable products like corn starch and
cardboard also affects the lifespan of the drugs in a positive way, by increasing
lifecycle and attracting consumers.
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Global Parenteral Packaging Market: Restraints
> Limited availability of raw materials required in packaging
> Fluctuating prices and unstable accessibility of raw materials
> Complex processes and heavy installation fees
> Heavy registration fees
Global Parenteral Packaging Market Segmentation
By Product Type
> Bags
> Bottles
> Ampoules
> Vials
> Prefilled syringes
> Cartridges
All of these products produced require approval from various authorities as well as
the need to maintain certain standards and abide by specific regulations. The
introduction of stringent standards government and regulatory organizations such as
Parenteral Drug Association (PDA), National Quality Forum (NQF), Healthcare
Compliance Packaging Council (HCPC), and Food and Drug Administration (FDA) is
expected to work in a positive manner and boost the market and trade.
By Material
> Glass
> Polymer
> PVC
> Polyolefin
Ampoules, a product is manufactured solely via glass while all bags are manufactured
from plastic. All other packaging products are also made from either plastic or glass.
The plastic and polymer, both are more durable as compared to the glass used in the
parenteral packaging market. Any technological improvement in this sector will be
favourable and will help record significant growth. The improvements in making the
manufacturing processes of pharmaceutical packages more efficient play a big role in
the growth of the global pharmaceutical packaging market. Advancements in
manufacturing processes such as green packaging technologies, employment of
environment-friendly substances as raw materials thus being sustainable as well. The
materials used in sustainable packaging are paper, cardboard, and corn starch. This
promotes pharmaceutical companies in a better light while also increasing the
potency and lifespan of the drugs produced.
By Region
> Europe
> North America
> APAC
> Latin America
North America was a major market for parenteral packaging followed by Europe.
Upcoming markets of Asia Pacific, Latin America, and Middle East & Africa are
projected to soar during the forecast period. Among the developing countries, South
Korea, China, and India are expected to witness provide lucrative trade
opportunities.
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Competitive Landscape:
> Tier 1 players- established companies in the market with a major market share
> Tier 2 players
> Emerging players which are growing rapidly
> New Entrants
Major shareholders reigning the parenteral packaging market are Gerresheimer AG,
Unilife Corporation, Inc, Schott AG, Dickinson and Company, West Pharmaceutical
Services, Inc., RPC Group, Ypsomed Holding AG, Terumo Corporation, SiO2 Medical
Products, Ompi, Stevanato Group, Nipro Corporation, Berry Plastics Corporation,
MeadWestvaco Corporation, Becton Dickinson and Company, Owens-Illinois, Graphic
Packaging Group, and Schott Pharmaceuticals Services Inc, Gerresheimer AG,
Stevanato Group, Nipro Corporation, MeadWestvaco Corporation.
FutureWise Takeaways
> Growth prospects
> SWOT analysis
> Key trends
> Key data-points affecting market growth
Objectives of the Study:
> To provide with an exhaustive analysis on the global parenteral packaging market,
by product type, on the basis of material, and region
> To cater comprehensive information on factors impacting market growth (drivers,
restraints, opportunities, and industry-specific restraints)
> To evaluate and forecast micro-markets and an overall market
> To predict the market size, in key regions (along with countries)—North America,
Europe, Asia Pacific, Latin America, and the Middle East
> To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
> Profiling of companies to evaluate their market shares, strategies, financials and
core competencies
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The global parenteral packaging market is predicted to value over US$ 19 billion by the end of 2026 and expand at a CAGR of over 11.1% during the forecast period of 2019-2026. Parenteral packaging is the specific packaging of drugs or other fluids to safeguard its effectiveness and therapeutic potency from getting lost.

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