Published by mark itwired
Posted on September 8, 2021
Manufacturers of parenteral packaging products are moving away from the ‘drugs for container’ concept and are focusing on providing ‘containers for drugs’ – implying the adoption of appropriate materials to manufacture in the Parenteral Packaging Market.
The 3P’s driving the global parenteral packaging market are Product, Process, and Patient, and given the increasing focus on sustainability and green initiatives, plastic is slowly being eliminated from the parenteral packaging ecosystem.
Companies are shifting towards prefilled and ready-to-use containers and this is expected to augment the usability of parenteral products in self-medication.
As such, the global market for parenteral packaging is set to witness significant growth in the next 10 years, as estimated in a study by Future Market Insights. According to a report released by the leading market research firm, the global parenteral packaging market is set to exceed US$ 11460 Mn by the end of 2021.
Exhibiting a growth rate of 5.5% in the coming decade, revenue from the sales of parenteral packaging products is slated to experience around 6% year-on-year growth rate in 2021. Sustainability is the buzzword here – manufacturers are steadfast in their focus on addressing environmental concerns; which probably explains the near-death of plastic as a preferred material for parenteral packaging, owing to environmental issues associated with the disposal of plastic parenteral packaging products.
With technology having seeped through the global industry fabric, the market for parenteral packaging products is witnessing a new era of advanced processing techniques powered by automation in the packaging industry.
Advanced automation in manufacturing processes has brought in notable modifications pertaining to the provision of drugs to patients, and this integration of automation into core manufacturing systems is trending in the global parenteral packaging market.
Manufacturers are also focusing on deploying high quality, contamination-free processes to assemble parenteral packaging containers. These processes seek to eliminate incidences of reactions between the material used to manufacture the containers and the actual content (drugs) of the containers, thereby preventing harmful effects on patients consuming the drugs.
Several products recalls in the past have forced manufacturers of parenteral packaging products to select the best material to manufacture containers, and this factor is acting in favour of revenue growth of the global parenteral packaging market.
On the back of sustainability drives by global governments, manufacturers of parenteral packaging products are changing their operations by integrating automated systems in their assembly lines.
A strategic shift from manual to automatic packing lines is bringing in enhanced process efficiency and reducing dependency on manual labour, thereby creating pathways for cost-effectiveness in the long run. Further, the rapidly rising demand for prefilled syringes is benefitting the global parenteral packaging market.
Specific requirements from the healthcare industry for speciality packaging products such as IV pre-mixed systems and single-use vials is also expected to bolster revenue generation in the global market for parenteral packaging in the coming years.
What is the parenteral packaging market size?
Driven by increasing demand for therapeutic drugs storage provisions, the parenteral packaging market size is forecast to reach US$ 11,460 Bn in 2021
At what rate did the parenteral packaging market expand in the last five years?
Between 2016 and 2020, the parenteral packaging sales surged at a 4.6% CAGR backed by increasing demand for self-administered drugs and medicines for chronic ailments.
What are the key factors driving parenteral packaging market demand?
The rising prevalence of chronic ailments and the high demand for vaccines to tackle epidemics and pandemics will remain the chief growth driver. The market also will gain from rising spending on advanced healthcare.
What is the North America parenteral packaging market outlook?
Demand registered in North America will continue rising, backed by increasing sales and production of parenteral packaging in the U.S, the North American market will expand at 4.3% CAGR in 2021.
Who are the leading companies in the parenteral packaging market?
Becton, Dickinson and Company, Schott AG, Catalent, Inc., Gerresheimer AG, and Baxter International Inc. are the top ten companies in the market. They are responsible for 1/10th of global market sales.
What is the cumulative share of top companies in the parenteral packaging market?
Top players account for nearly 10% to 15% of the parenteral packaging market
At what rate will parenteral packaging sales increase in Europe?
Parenteral packaging sales will increase at 3.9% CAGR in Europe, backed by rising export and production in Italy, Germany, France, and other countries.
Over the years, conventional raw materials used to manufacture parenteral packaging products have witnessed several advancements. Add to this the introduction of newer types of material to manufacture parenteral packaging containers, and the global market is suddenly a hotbed of opportunities for manufacturers.
The global parenteral packaging market is witnessing strategic collaboration between manufacturers and suppliers for both the sourcing of appropriate raw materials and the final packaging formats.
For instance, polymers such as cyclic olefin polymers (COP) and cyclic olefin copolymers (COC) are being sought after in large numbers, owing to their inherent advantages over conventional plastic and glass used to manufacture parenteral packaging containers.
The introduction of better raw material types supports increased sophistication in drug delivery technologies, thereby helping manufacturers up their revenue standing in the global market. Needless to say, this is positively impacting the revenue growth of the global parenteral packaging market.
| Attribute | Details |
| Forecast Period | 2021 – 2031 |
| Historical Data Available for | 2018 – 2028 |
| Market Analysis | US$ Mn for Value & Units for Volume |
| Key Regions Covered | North America, Latin America, Eastern Europe, Western Europe, Japan, Asia Pacific excluding Japan, and Middle East and Africa |
| Key Countries Covered | US, Canada, Brazil, Mexico, Argentina, Rest of Latin America, Germany, Italy, France, U.K., Russia, Spain, BENELUX, Poland, Nordic, Rest of Europe, India, China, ASEAN, ANZ, Rest of APEJ, GCC Countries, Turkey, South Africa, Iran, Israel, and Rest of MEA. |
| Key Segments Covered | Product type, Material type, Packaging type, and Region |
| Key Companies Profiled | UFP Technologies, Inc.Schott AGUDG Healthcare plcGerresheimer AGBectonDickinson and CompanyCatalent, Inc.Stevanato Group S.p.A.Baxter International Inc.Nipro CorporationWest Pharmaceutical Services, Inc. |
| Report Coverage | Market Overview, Market Background, Market Forecast, Segmental Analysis, Regional Profiling and Competition Analysis |
| Customization & Pricing | Available upon Request |
The post Parenteral Packaging Market Research Report 2021 – Global Forecast till 2026 first appeared on Market Research Blog.
Manufacturers of parenteral packaging products are moving away from the ‘drugs for container’ concept and are focusing on providing ‘containers for drugs’ – implying the adoption of appropriate materials to manufacture in the Parenteral Packaging Market.
The 3P’s driving the global parenteral packaging market are Product, Process, and Patient, and given the increasing focus on sustainability and green initiatives, plastic is slowly being eliminated from the parenteral packaging ecosystem.
Companies are shifting towards prefilled and ready-to-use containers and this is expected to augment the usability of parenteral products in self-medication.
As such, the global market for parenteral packaging is set to witness significant growth in the next 10 years, as estimated in a study by Future Market Insights. According to a report released by the leading market research firm, the global parenteral packaging market is set to exceed US$ 11460 Mn by the end of 2021.
Exhibiting a growth rate of 5.5% in the coming decade, revenue from the sales of parenteral packaging products is slated to experience around 6% year-on-year growth rate in 2021. Sustainability is the buzzword here – manufacturers are steadfast in their focus on addressing environmental concerns; which probably explains the near-death of plastic as a preferred material for parenteral packaging, owing to environmental issues associated with the disposal of plastic parenteral packaging products.
With technology having seeped through the global industry fabric, the market for parenteral packaging products is witnessing a new era of advanced processing techniques powered by automation in the packaging industry.
Advanced automation in manufacturing processes has brought in notable modifications pertaining to the provision of drugs to patients, and this integration of automation into core manufacturing systems is trending in the global parenteral packaging market.
Manufacturers are also focusing on deploying high quality, contamination-free processes to assemble parenteral packaging containers. These processes seek to eliminate incidences of reactions between the material used to manufacture the containers and the actual content (drugs) of the containers, thereby preventing harmful effects on patients consuming the drugs.
Several products recalls in the past have forced manufacturers of parenteral packaging products to select the best material to manufacture containers, and this factor is acting in favour of revenue growth of the global parenteral packaging market.
On the back of sustainability drives by global governments, manufacturers of parenteral packaging products are changing their operations by integrating automated systems in their assembly lines.
A strategic shift from manual to automatic packing lines is bringing in enhanced process efficiency and reducing dependency on manual labour, thereby creating pathways for cost-effectiveness in the long run. Further, the rapidly rising demand for prefilled syringes is benefitting the global parenteral packaging market.
Specific requirements from the healthcare industry for speciality packaging products such as IV pre-mixed systems and single-use vials is also expected to bolster revenue generation in the global market for parenteral packaging in the coming years.
What is the parenteral packaging market size?
Driven by increasing demand for therapeutic drugs storage provisions, the parenteral packaging market size is forecast to reach US$ 11,460 Bn in 2021
At what rate did the parenteral packaging market expand in the last five years?
Between 2016 and 2020, the parenteral packaging sales surged at a 4.6% CAGR backed by increasing demand for self-administered drugs and medicines for chronic ailments.
What are the key factors driving parenteral packaging market demand?
The rising prevalence of chronic ailments and the high demand for vaccines to tackle epidemics and pandemics will remain the chief growth driver. The market also will gain from rising spending on advanced healthcare.
What is the North America parenteral packaging market outlook?
Demand registered in North America will continue rising, backed by increasing sales and production of parenteral packaging in the U.S, the North American market will expand at 4.3% CAGR in 2021.
Who are the leading companies in the parenteral packaging market?
Becton, Dickinson and Company, Schott AG, Catalent, Inc., Gerresheimer AG, and Baxter International Inc. are the top ten companies in the market. They are responsible for 1/10th of global market sales.
What is the cumulative share of top companies in the parenteral packaging market?
Top players account for nearly 10% to 15% of the parenteral packaging market
At what rate will parenteral packaging sales increase in Europe?
Parenteral packaging sales will increase at 3.9% CAGR in Europe, backed by rising export and production in Italy, Germany, France, and other countries.
Over the years, conventional raw materials used to manufacture parenteral packaging products have witnessed several advancements. Add to this the introduction of newer types of material to manufacture parenteral packaging containers, and the global market is suddenly a hotbed of opportunities for manufacturers.
The global parenteral packaging market is witnessing strategic collaboration between manufacturers and suppliers for both the sourcing of appropriate raw materials and the final packaging formats.
For instance, polymers such as cyclic olefin polymers (COP) and cyclic olefin copolymers (COC) are being sought after in large numbers, owing to their inherent advantages over conventional plastic and glass used to manufacture parenteral packaging containers.
The introduction of better raw material types supports increased sophistication in drug delivery technologies, thereby helping manufacturers up their revenue standing in the global market. Needless to say, this is positively impacting the revenue growth of the global parenteral packaging market.
| Attribute | Details |
| Forecast Period | 2021 – 2031 |
| Historical Data Available for | 2018 – 2028 |
| Market Analysis | US$ Mn for Value & Units for Volume |
| Key Regions Covered | North America, Latin America, Eastern Europe, Western Europe, Japan, Asia Pacific excluding Japan, and Middle East and Africa |
| Key Countries Covered | US, Canada, Brazil, Mexico, Argentina, Rest of Latin America, Germany, Italy, France, U.K., Russia, Spain, BENELUX, Poland, Nordic, Rest of Europe, India, China, ASEAN, ANZ, Rest of APEJ, GCC Countries, Turkey, South Africa, Iran, Israel, and Rest of MEA. |
| Key Segments Covered | Product type, Material type, Packaging type, and Region |
| Key Companies Profiled | UFP Technologies, Inc.Schott AGUDG Healthcare plcGerresheimer AGBectonDickinson and CompanyCatalent, Inc.Stevanato Group S.p.A.Baxter International Inc.Nipro CorporationWest Pharmaceutical Services, Inc. |
| Report Coverage | Market Overview, Market Background, Market Forecast, Segmental Analysis, Regional Profiling and Competition Analysis |
| Customization & Pricing | Available upon Request |
The post Parenteral Packaging Market Research Report 2021 – Global Forecast till 2026 first appeared on Market Research Blog.
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