Parenteral Packaging Market

Parenteral Packaging Market: Increasing Adoption of Injection-based Therapies likely to Inflate Pre-filled Syringes and Cartridges Demand: Global Industry Analysis and Opportunity Assessment, 2016 - 2026

  • REP-GB-1258
  • 2016-06-27
  • 207 Pages
  • Format: pdf ppt
  • Category: Packaging

Introduction

Packaging in parenteral is a process that allows the drug 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 drugs from contamination and aseptic administration to the patient.

The pharmaceuticals industry has experienced significant technological advancements over the last few years. As a result, recent advancement in routes of drug administration is shaping the market demand for parenteral products far surpasses production.  

Market Value and Forecast

Pharmaceuticals packaging has witnessed major modifications over the past decade, making parenteral packaging a future business perspective for entrepreneurs. Major players, manufacturing raw materials are themselves shifting towards parenteral packaging process.

The global parenteral packaging market has been estimated to be valued at US$ 8,665 Mn by 2016 end and is expected to expand at a 10.2% CAGR over the forecast period (2016–2026).

Market Dynamics

Growth of the global parenteral packaging market is specifically driven by the expansion of global pharmaceuticals industry, which is projected to expand at a CAGR of 9.6% over the forecast period (2016–2026). Shifting trend of primary packaging material from glass to plastic and polymer is an exclusive factor, which is anticipated to drive the parenteral packaging market in the near future.  Furthermore, the growing prevalence of chronic diseases such as diabetes, cancer, chronic intestinal diseases and hepatic failure, are further expected to drive the growth of the parenteral packaging market. Besides, rising adoption of injection based therapy and government initiatives for preventive measures to ward off diseases such as hepatitis and polio are further fuelling the market demand for parenteral packaging. Furthermore, rise in ageing population around the globe is anticipated to favour the inclination of parenteral packaging market growth.

Market Segmentation by Product Type

The prefilled syringes are becoming the face of parenteral products and rising demand of the same is reinforcing the market growth of total parenteral packaging market. Moreover, on the basis of product type, the market is categorised into bags, ampoules, vials, prefilled syringes & cartridges and ready-to-mix systems. Among all the above stated segments, the prefilled syringes & cartridges segment is expected to witness the highest growth over the forecast period.  

Market Segmentation, by Material

Growing regulatory concerns towards the use of glass material in parenteral packaging are enforcing drug manufacturers to shift from glass to plastic packing, which in turn fuels the plastic & polymer segment growth. Furthermore, under material category, the market is divided into two segments, namely glass and plastic & polymer. The plastic & polymer segment is further divided into two categories, i.e. PVC and polyolefin. The plastic & polymer segment is expected to expand at a prominent CAGR over the forecast period.

Market Segmentation, by Packaging Type

Packaging type refers to the need of patients as well as the need of the drug. Small volume and large volume parenteral products are differentiated by the capacity of the drug to be administered, which can show their potency. On the basis of packaging type, the market is segmented into two main categories, namely small volume parenteral and large volume parenteral. The small volume parenteral segment is estimated to account for the highest market share in 2016 end, and will continue to dominate the segment over the forecast period.

Key Regions

Demand for parenteral products are inconsistent around the globe and driven by the factors such as rise in ageing population, growth in disposable income and improved healthcare conditions in respective regions.  In this report, the global parenteral packaging market has been segmented into seven major regions, namely North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa (MEA). In terms of value, North America market accounts for the maximum revenue share of the overall market, among all the regional markets, followed by Western Europe. North America and Europe collectively accounts for maximum market share. North America parenteral packaging market is expected to expand at a CAGR of 11.2% over the forecast period, and is expected to continue to dominate the market in terms of value. Meanwhile, the APEJ market is expected to expand at a significant CAGR of 10.2% over the forecast period, due to the economic manufacturing conditions and favourable trade conditions. North America is closely followed by Western Europe market as it is expected to expand at a high growth rate. Among all the regions, the Eastern Europe market is expected to expand at a moderate CAGR of 8.2% over the forecast period.

Parenteral Packaging Market

Key Players

Some of the major players in the global Parenteral Packaging market that are covered in this report are Schott AG, Gerresheimer AG, Becton, Dickinson and Company, Unilife Corporation, Inc., West Pharmaceutical Services, Inc., Ypsomed Holding AG, SiO2 Medical Products, Terumo Corporation, Nipro Corporation and Ompi, Stevanato Group. The report also describes company-specific strategies related to key developments and market consolidation initiatives.

In this report, Future Market Insights (FMI) offers a 10-year forecast of the global parenteral packaging market between 2016 and 2026. In terms of value, the market is expected to expand at a CAGR of 10.2% over the forecast period. The current study reveals the market trends and market dynamics in all seven regions that are expected to positively affect the current market environment and future scenario of the parenteral packaging market over the forecast period.

Report Description

This Future Market Insights report inspects the parenteral packaging market for the period 2016–2026. The prime objective of this report is to offer insights into developments in the Parenteral Packaging market that are gradually helping transform global businesses associated with the same. 

The global parenteral packaging market report begins by the executive summary and defining various categories and their usage in parenteral packaging. It is followed by market dynamics overview of the global parenteral packaging market, which includes FMI analysis of market trends, drivers, restraints and opportunities that are affecting growth of the parenteral packaging market. It also covers a section summary with rationale for demand of pharmaceuticals packaging with value propositions in segment outlook. Furthermore, to understand the popularity of the market segment and regions, the attractiveness index with elaborated insights on the same is provided, which will show the market’s attractiveness based on the factors such as CAGR and incremental opportunity.

The prime factors powering the demand for parenteral packaging are expansion of global pharmaceuticals industry, ageing population, shifting trend towards plastic & polymer from glass and increasing prevalence of chronic non-communicable diseases. Increase in economic standards and disposable income of individuals across the globe are positively favouring growth of the parenteral packaging market. Factors such as increasing demand for complementary and alternative medicines and high risk of glass breakage could slow down the demand for parenteral packaging in the near future.  

Prefilled syringes and multi-compartment bags are recent advancements in the product type segment of parenteral packaging. Among all the product type segments, prefilled segment is expected to grow with the highest CAGR followed by ready-to-mix segment. Based on product type, the market is categorised into bags, ampoules, vials, prefilled syringes and ready-to-mix systems.

The market has also been segmented based on types of material used in packaging of parenteral products, such as glass and plastic & polymer. The plastic & polymer segment is further classified into PVC and polyolefin. According to the analyses, the plastic & polymer segment is expected to exhibit a comprehensive and rapid growth, and acquire high attractiveness in the parenteral packaging market over the forecast period. Under plastic & polymer segment, the synthetic polyolefin plastic & polymer sub-segment is the most dominating segment in terms of value, and is expected to expand at the highest CAGR over the forecast period. Further, on the basis of packaging type segment, the small volume parenteral segment is anticipated to dominate the parenteral packaging market in terms of value, and is expected to remain the most attractive segment over the forecast period in terms of value.  

The next section of the report highlights the parenteral packaging adoption, by region, and provides the market outlook for 2016–2026. The study investigates the regional trends contributing to growth of the parenteral packaging market and the market attractiveness regionally, as well as analyses the limit to which the drivers are influencing the parenteral packaging market in each region. Main regions assessed in this report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa (MEA).

The above sections, by product type, by material, by packaging type and region, evaluate the present scenario and growth prospects of the parenteral packaging market for 2016–2026. Increased focus of pharmaceuticals producers towards biologics and protein-based product manufacturing ensued demand for pre-filled syringes at an impressive rate. Consequently, it also led to the increased demand for packaging. Parenteral packaging for pre-filled syringes market is presenting lucrative opportunities for pharmaceuticals packaging companies. In 2016, the segment is estimated to account for 31.2% value share in the North America parenteral packaging market; and a gain of 5% is anticipated by the end of the forecast period.

To ascertain the parenteral packaging market size, we have also taken into account the revenue generated by the various manufacturers. The forecast presented here assesses the total revenue generated by value, across the parenteral packaging market. In order to provide an accurate forecast, we initiated by sizing up the current market, which forms the basis on how the parenteral packaging market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome on the basis of three different types of analysis; based on supply side, downstream industry demand and the economic envelope.

In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market based on key parameters, such as year-on-year (Y-o-Y) growth rates, to understand the predictability of the parenteral packaging market and identify the right opportunities across the market.

The parenteral packaging segments, by product type, material type, packaging type and region, have been analysed in terms of basis point share (BPS) to understand the individual segment’s relative contributions to market growth. This detailed level of information is important for identifying various key trends in the parenteral packaging market.

Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is overlooked while forecasting the market. However, absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve, as well as to identify potential resources from a delivery perspective of the Parenteral Packaging market. The overall absolute dollar opportunity along with the segmental split is mentioned in the report.

To understand key growth segments in terms of growth and adoption for parenteral packaging globally, Future Market Insights developed the parenteral packaging market ‘Attractiveness Index.’ The resulting index should help providers identify real market opportunities.

In the final section of the report on parenteral packaging, the ‘dashboard view’ of the companies is provided to compare the current industrial scenario and their contribution in total parenteral packaging market. Moreover, it is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment. Report audiences can gain segment-specific manufacturer insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in the parenteral packaging marketplace.

Detailed profiles of parenteral packaging companies are also included in the report to evaluate their long– and short–term strategies, key product offerings and recent developments in the parenteral packaging market. Key market competitors covered in the report include Schott AG, Gerresheimer AG, Becton, Dickinson and Company, Unilife Corporation, Inc., West Pharmaceutical Services, Inc., Ypsomed Holding AG, SiO2 Medical Products, Terumo Corporation, Nipro Corporation and Ompi, Stevanato Group.

Key Segments Covered

  • Product Type<
    • Bags
    • Ampoules
    • Vials
    • Prefilled syringes & Cartridges
    • Ready-to-mix Systems
  • By Material
    • Glass
    • Plastic & Polymer
      • PVC
      • Polyolefin
  • By Packaging Type
    • Small Volume Parenteral
    • Large Volume Parenteral

Key Regions/Countries Covered

  • North America
    • U.S.
    • Canada
  • Latin America
    • Argentina
    • Brazil
    • Mexico
    • Rest of Latin America
  • Western Europe
    • Germany
    • Italy
    • France
    • U.K.
    • Spain
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Rest of Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
    • China
    • ASEAN
    • Australia
    • Rest of APEJ
  • Japan
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of MEA

Key Companies

  • Schott AG
  • Gerresheimer AG
  • Becton, Dickinson and Company
  • Unilife Corporation, Inc.
  • West Pharmaceutical Services, Inc.
  • Ypsomed Holding AG
  • SiO2 Medical Products
  • Terumo Corporation
  • Nipro Corporation
  • Ompi, Stevanato Group