Parenteral Packaging Market

Parenteral Packaging Market: Prefilled Syringes and Bags to Collectively Account for More Than 55% of the Overall Market Value During the Forecast Period: Global Industry Analysis (2013-2017) & Opportunity Assessment (2018-2028)

Parenteral Packaging Market Outlook

The parenteral packaging market is anticipated to witness a positive growth trajectory, however, several factors such as instability in the price of raw materials and limited availability of raw materials are expected to hinder the growth of the parenteral packaging market. Additionally, the complex registration process of packaging is likely to be a constraint in the parenteral packaging market expansion.

Key players are focusing on providing an extensive scope of packaging materials for parenteral drugs. For example,

 Gerresheimer, a market leader in the manufacturing of cosmetics packaging prepared of recycled glass, in response to its customers developed a cosmetics glass that has the utmost recycled material proportion available for the end consumer and simultaneously provides an incomparable level of quality. The company, further initiated two more plants in India and China for pharmaceutical products, to produce plastic primary packaging. This will allow it to offer its consumer, the best possible supply service.

Bormioli Pharma, a manufacturer of plastic primary and pharmaceutical glass packaging, acquired GCL Pharma, an Italian subsidiary of the Guala Closures Group, focused on the manufacturing of aluminum, rubber, and plastic closures for pharmaceutical applications. This follows Bormioli's purchase of Remy & Geiser finished last fall, growing its ability and product range to support the most difficult pharmaceutical requirements. Bormioli Pharma focuses to fortify its industrial footprint by adding novel technologies that will allow them to extend their product range, particularly in the parenteral and oral segments, further stimulating their business synergies.

The significance of packaging in the pharma industry to strike an accurate balance between regulatory compliance, quality, and cost is an established fact. Thus, as the pharma sector dynamics get transformed by the COVID-19 pandemic it is apparent that pharma labeling and packaging too will undertake major shifts.

The future embraces unparalleled challenges and opportunities in terms of labeling and the pharma packaging sector. The sector will have to evolve continually to meet the pharma stakeholders' expectations, combating counterfeits, be it assuring efficacy of medicines, enabling patient convenience and adherence, upkeep logistics security, or following to regulatory requirements.

Parenteral Packaging Market Analysis: Over 35% of the Revenue to be Generated by the Pre-filled Syringes & Cartridges Product Type Segment in 2018, which is expected to increase further by the end of 2028

The global market for parenteral packaging was valued at US$ 9,864.8 Mn in 2017 and is projected to expand at a CAGR of 4.8%, during the forecast period (2018 - 2028).

Parenteral packaging is a method that allows the medicine or other fluid to keep its potency and therapeutic effectiveness intact throughout the shelf life or till the time the drug is administered. Effective packaging in parenteral is required to protect the drugs from contamination and aseptic administration to the patient. Prefilled syringes and cartridges are certain novel innovations in the field of parenteral packaging, which favors minimization of drug administration, apart from conventional parenteral packaging solutions such as vials and ampoules.

One of the key factors such as the introduction of various new raw material for parenteral packaging along with advancements in conventionally used materials are making the market more consolidated. There has been effective collaboration between the suppliers and manufacturers for raw material sourcing and final packaging. Introduction of polymers such as cyclic olefin copolymers (COC) and cyclic olefin polymers (COP) are acquiring the attention of many of the parenteral product manufacturers due to various advantages over plastic and glass. The introduction is beneficial for sophisticated and newly developed drugs and delivery technologies.

In terms of material, the plastic is expected to be the most attractive material segment for manufacturing parenteral packaging across the globe. Plastic is the most preferred material of choice for parenteral packaging due to their comparatively low cost an easy production method, advantages in terms of light weight, durability, no reactivity and design flexibility.

Drivers & Restraints

Some of the key drivers for the growth of the global parenteral packaging market includes the increasing per capita healthcare expenditure of several leading economies across the globe. Parenteral drugs is the second-largest contributor to the global pharmaceutical market of US$ 962 Billion, with approximately 30% share in 2014, preceded only by oral dosage form. Moreover, the long-term estimates that pharma spending is expected to match the expenditure on healthcare sector at an average of 4.2% during the forecast period. Additionally, private health insurance (PHI) are playing significant role in carving up the healthcare systems.

The overall impact of rise in per capita expenditure and introduction of health insurance are expected to favor the growth of parenteral packaging market. Immunizations through vaccines is a major health intervention that has a significant positive impact on the health the populace. Demand for parenteral is strongly correlated with immunization.

Vaccination plans such as Global Vaccine Action Plan (GVAP) 2011–2020, National Vaccine Plan (NVP) by U.S., which are introduced by the government on regular intervals to eradicate health issues such as hepatitis, polio etc., are expected to further fuel the parenteral packaging market. According to World Health Organization (WHO) chronic non-communicable disease (NCD) prevalence is projected to grow by 57% between 2015 and 2020. In terms of geographical inclination of demand, emerging markets are expected to contribute significantly to growth, largely due to diseases related to lifestyle changes as well as population increase.

Market Taxonomy

The global market for parenteral packaging is segmented as per product type, material type, and its packaging type.

As per product type, the global parenteral packaging market is segmented as follows:

  • Vials
  • Pre-filled Syringes & Cartridges
  • Bags
  • Ampoules
  • Ready to Use Systems

As per material type, the global parenteral packaging market is segmented as follows:

As per packaging type, the global parenteral packaging market is segmented as follows:

  • Small Volume Parenteral (SVP)
  • Large Volume Parenteral (LVP)

Competitive Landscape:

Key players operating in the global market for parenteral packaging include UFP Technologies, Inc., Schott AG, UDG Healthcare plc, Gerresheimer AG, Becton, Dickinson and Company, Catalent, Inc., Stevanato Group S.p.A., Baxter International Inc., Nipro Corporation, West Pharmaceutical Services, Inc., among others among others.

Parenteral Packaging Market Report Scope

Attribute

Details

Forecast Period

2013-2017

Historical Data Available for

2018-2028

Market Analysis

US$ Mn for Value and Mn Units for Volume

Key Regions Covered

North America, Europe, Latin America, East Asia, South Asia, Oceania, and Middle East & Africa (MEA)

Key Countries Covered

U.S, Canada, Mexico, Brazil, Peru, Chile, Poland, Germany, Italy, Spain, United Kingdom, Nordic Region, Benelux, Rest of Europe, China, India, Japan, Korea, Indonesia, Malaysia, Singapore, Taiwan, Thailand, Rest of South Asia, Australia, New Zealand, GCC, Turkey, South Africa, and Rest of MEA

Key Segments Covered

Product type, Material type, Packaging type, and Region

Key Companies Profiled

  • UFP Technologies, Inc.
  • Schott AG
  • UDG Healthcare plc
  • Gerresheimer AG
  • Becton, Dickinson and Company
  • Catalent, Inc.
  • Stevanato Group S.p.A.,
  • Baxter International Inc.
  • Nipro Corporation
  • West Pharmaceutical Services, Inc.,

Report Coverage

Market Overview, Key Market Trends, Key Success Factors, Demand Analysis, Market Background, COVID-19 Analysis, Segmental Analysis, Regional Profiling, Market Structure & Competition Analysis

Customization & Pricing

Available Upon Request

Market Segmentation

By Product Type

  • Vials
  • Pre-filled Syringes & Cartridges
  • Bags
  • Ampoules
  • Ready to Use Systems

By Material Type

  • Glass
  • Plastic
    • Polyvinyl Chloride (PVC)
    • Polyolefin

By Packaging Type

  • Small Volume Parenteral (SVP)
  • Large Volume Parenteral (LVP)

Regional analysis is presented for following market segments:

  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Western Europe
    • Germany
    • France
    • U.K.
    • Spain
    • Italy
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • Rest of Eastern Europe
  • APEJ
    • China
    • India
    • Australia & New Zealand
    • ASEAN
    • Rest of APEJ
  • Japan
  • MEA
    • GCC Countries
    • South Africa
    • Rest of MEA

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Parenteral Packaging Market