CAGR: 4.5%Current Market Size: USD 11,500 MillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global parenteral packaging market is expected to grow from USD 11,500 million in 2022 to USD 16,354 million by 2030, at a CAGR of 4.5% during the Projection period 2023-2030. The growth of the parenteral packaging market is mainly driven by the increase in the production of pharmaceutical products.
One of the most crucial parts of the product is the packaging. Pharmaceutical packaging is essential and critical for maintaining medicine stability. Pharmaceuticals are packaged to protect them from various elements like moisture, sunlight, and other environmental variables. This ultimately prevents microbial development and increases the drug's shelf life. Other than orally and really, medications for parents are delivered intravenously. Subcutaneous, intramuscular, and intravenous routes are frequently used to administer medications to children. Packaging is crucial for parental medications since they must be sterile and particle-free as they are taken straight into the body. Good aseptic practices (GAPs) are necessary when dispensing parental products to patients for administration since parental packaging is one of the crucial components of good manufacturing practices (cGMPs) in the production process. Governments are attempting to make insurance services more reasonably priced, particularly in developing nations. Increased consumer healthcare spending and growing public knowledge of diabetes and related disorders will open up new business options. Remy and Geiser were recently bought by Bormioli Pharma in order to increase the availability of tubing glass vials in various configurations. As medicine formulas change, the company recently unveiled a new line of dual-chamber devices.
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Market Dynamics:
Drivers:
In order to better safeguard medications, there has been an increase in the demand for parenteral packaging, which is anticipated to fuel the expansion of the worldwide parenteral packaging market. Parenteral packaging is crucial in maintaining the formulation's purity. Additionally, the parenteral packaging market is anticipated to rise due to rising technological developments in parenteral manufacturing and packaging. Parenteral products are less likely to be contaminated thanks to elements like the growing trend of using prefilled syringes and cartridges, ready-to-use containers, more effective filling/closing procedures, and other materials consisting of glass and plastic.
Restraints:
The parenteral packaging market is expected to face challenges from factors including restricted raw material availability and volatile raw material prices. Additionally, it is anticipated that the complicated packaging registration process will hinder the expansion of the worldwide parenteral packaging market.
Opportunities:
Consumer demands are expected to increase as packaging options that provide product quality, protection, patient comfort, and security needs advance and evolve. The demand for inventive parenteral packaging is anticipated to increase as a result. Additionally, during the Projection period, it is anticipated that the implementation and introduction of a number of strict standards and regulations for parenteral packaging by governmental and regulatory organizations such as the Parenteral Drug Association (PDA), National Quality Forum (NQF), Healthcare Compliance Packaging Council (HCPC), and Food and Drug Administration (FDA) will accelerate market growth.
Challenges:
It is predicted that limited raw material supply and volatile raw material prices will impede market expansion. Additionally, it is projected that the market's growth will be constrained by the complicated registration process for packaging.
Segmentation Analysis:
The global parenteral packaging market has been segmented based on product type, packaging type, and region.
By Product Type
The product type segment is bags, vials, ampoules, pre-filled syringes & cartridges, and ready-to-use systems. The pre-filled syringes & cartridges segment led the largest share of the parenteral packaging market with a market share of around 33% in 2022. Parenteral packing is a technique that ensures the medication or other fluid maintains its therapeutic strength and effectiveness for the duration of its shelf life or until it is administered. Parenteral medications must be packaged well to prevent contamination and ensure aseptic patient administration. In contrast to traditional parenteral packaging options like vials and ampoules, prefilled syringes and cartridges are some recent advancements in the field of parenteral packaging that emphasize the minimization of drug delivery. The market is becoming more consolidated as a result of a number of important factors, including the introduction of numerous new raw materials for parenteral packaging and developments in materials previously used.
By Packaging Type
The packaging type segment is a large volume parenteral and small volume parenteral. The large volume parenteral segment led the largest share of the parenteral packaging market with a market share of around 55% in 2022. A large volume parenteral (LVP) is a single-dose injection that has been sterilized using heat and is then packaged in a glass bottle or flexible container with a capacity of more than 100ml. To administer the active drug compounds directly into the blood vessels, organs, tissues, or lesions, an injection must be administered through the skin or another external boundary tissue. A water-miscible or non-aqueous vehicle, an active component, and optional additives including buffers, antioxidants, preservatives, surfactants, antibacterial agents, and tonicity adjusters are all typically included. Peritoneal dialysis, irrigating solutions, blood derivatives, medication premixes, and contrast agents are a few of the LVPs that are frequently accessible globally.
By Technique
The technique segment is vials, bags & bottles, ampoules, prefilled syringes & cartridges and ready to mix syringes. The vials segment led the largest share of the parenteral packaging market with a market share of around 30% in 2022. There are two types of vials: single-use vials and multi-use vials. Injectable medicines and liquids are stored in vials, which are made of glass or plastic, with rubber stoppers on their tops that keep the contents enclosed. Most single-use vials are made of clear glass, so doctors can see the contents.
Global Parenteral Packaging Market - Sales Analysis.
The sale of the parenteral packaging market expanded at a CAGR of 4% from 2016 to 2022.
The parenteral packaging market is likely to have favorable expansion; however, a number of challenges, including fluctuating raw material prices and a lack of raw material supply, are anticipated to impede this progress. The complicated packaging registration procedure is also probably going to be a barrier to the market's expansion for parenteral packaging. The main manufacturers are concentrating on offering a wide range of packaging materials for parenteral medications. For instance, Gerresheimer, a market leader in the production of cosmetics packaging made of recycled glass, developed a cosmetics glass in response to customer requests that have the highest proportion of recycled material available for the final consumer while also offering an unmatched level of quality.
The company also started two other operations to make plastic main packaging for pharmaceutical items in China and India. This will enable it to provide the best supply service to its customer. GCL Pharma, an Italian division of the Guala Closures Group that produces aluminum, rubber, and plastic closures for pharmaceutical uses, was purchased by Bormioli Pharma, a producer of plastic primary and pharmaceutical glass packaging. This comes after Bormioli's acquisition of Remy & Geiser, completed last fall, which increased its capacity and product selection to meet the most demanding pharmaceutical requirements. In order to expand its product offerings, notably in the parenteral and oral divisions, and further foster commercial synergies, Bormioli Pharma is concentrating on strengthening its industrial presence.
Thus, owing to the aforementioned factors, the global parenteral packaging market is expected to grow at a CAGR of 4.5% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the parenteral packaging market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the parenteral packaging market and held a 39.2% share of the market revenue in 2022.
Global Parenteral Packaging Market - Country Analysis:
Germany's parenteral packaging market size was valued at USD 891.2 million in 2022 and is expected to reach USD 1277.1 million by 2030, at a CAGR of 4.6% from 2023 to 2030. In order to better safeguard medications, there has been an increase in the demand for parenteral packaging, which is anticipated to fuel the expansion of the parenteral packaging market in the region. Parenteral packaging is crucial in maintaining the formulation's purity.
China’s parenteral packaging market size was valued at USD 897 million in 2022 and is expected to reach USD 1305.2 million by 2030, at a CAGR of 4.8% from 2023 to 2030. Because the patient population is growing and the healthcare sector is expanding in these areas. Between 2022 and 2030, the market in China is anticipated to have strong development among developing nations as a result of increasing government spending on enhancing healthcare infrastructure in these nations.
India's parenteral packaging market size was valued at USD 690 million in 2022 and is expected to reach USD 996.3 million by 2030, at a CAGR of 4.7% from 2023 to 2030. A few of the major factors propelling the expansion of the parenteral packaging market in the region are the rising per capita healthcare costs of numerous developed nations. The introduction of health insurance and the increase in per capita spending will likely have a positive overall effect on the market for parenteral packaging. The Indian government updated the Drug Rule 1945 in May 2022 and published a notification to add a sub-rule under Rule 75. (3). This sub-rule will specify that in order to get or renew a license for the production, sale, or distribution of medicinal pharmaceuticals in large quantities of parenteral, sera and vaccination, and r-DNA derived drugs, an application in Form 27D must be submitted to the licensing authority.
Key Industry Players Analysis:
To increase their market position in the global parenteral packaging market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
4.5% |
Market Size |
11,500 million in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product Type, By Packaging Type, By Technique, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Dickinson and Company, Schott AG, UDG Healthcare plc, Stevanato Group S.p.A., Becton, Catalent, Inc., West Pharmaceutical Services, Inc., and Nipro Corporation. |
By Product Type |
|
By Packaging Type |
|
By Technique |
|
Regional scope |
|
Scope of the Report
Global Parenteral Packaging Market By Product Type:
Global Parenteral Packaging Market By Packaging Type:
Global Parenteral Packaging Market By Technique:
Global Parenteral Packaging Market By Region:
Global parenteral packaging market is expected to reach USD 16,354 million by 2030.
The parenteral packaging market is projected to have a CAGR of 4.5%.
In order to better safeguard medications, there has been an increase in the demand for parenteral packaging, which is anticipated to fuel the expansion of the worldwide parenteral packaging market. Parenteral packaging is crucial in maintaining the formulation's purity. Additionally, the parenteral packaging market is anticipated to rise due to rising technological developments in parenteral manufacturing and packaging.
Based on the product type, the global parenteral packaging market has been segmented into bags, vials, ampoules, pre-filled syringes & cartridges, and ready-to-use systems.
Leading market players active in the global parenteral packaging market are Gerresheimer AG, Schott AG, Terumo Corporation, Unilife Corporation Inc, Becton Dickinson and Company, West Pharmaceutical Services, Inc., Ypsomed Holding AG, SiO2 Medical Products, Ompi Stevanato Group, Graphic Packaging Group Berry Plastics Corporation, MeadWestvaco Corporation, Owens-Illinois, RPC Group among other.
Political Factors- A transparent governance system is necessary to promote a collaborative workplace culture. The parenteral packaging market is currently experiencing a variety of issues as a result of corruption and a lack of transparency. This lack of transparency is primarily due to the current political turbulence and unpredictability. Corruption damages stakeholders' trust in business firms and governmental agencies by promoting fraudulent operations, making business procedures like licencing and contracting more difficult, and weakening law enforcement. The economic recovery is generally being slowed by rising bureaucratic corruption, which reduces the opportunities for businesses like the parenteral packaging market to prosper.
Economic Factors- The competencies and skills of the workforce have a big impact on how well the parenteral packaging market performs. The parenteral packaging market needs skilled workers who are available when needed if it is to remain competitive. The parenteral packaging market should look at trends in labour demand and supply to determine how employees with the right skill set could be employed successfully. Strong worker unions and a tight labour market can cause a number of problems for the parenteral packaging market. For instance, it can compel the parenteral packaging market to approve an unfair pay raise or it might suspend operations by calling for a strike.
Social factors- High population growth and an increasing proportion of the young population group are two favourable demographic indicators when the parenteral packaging market predominantly targets young consumers with its products/services. The host country's stance on immigration should also be investigated by the parenteral packaging market because it is a sign that diversity management methods should be put in place when there is a welcoming attitude toward immigrants from different cultural backgrounds. The parenteral packaging market should alter its marketing strategies to encourage diversity and inclusion. The parenteral packaging market may readily hire people from different cultural backgrounds, according to a positive outlook on migration. Workplace diversity is usually linked to higher productivity, better innovation, and superior overall firm success.
Technological Factors- The research and development trend in the chosen sector or area demonstrates how forward-thinking organisations are in bringing cutting-edge technologies to market. The parenteral packaging market needs to better understand how new technical developments can benefit the business in addition to providing benefits to customers. It would be necessary to make a sizable investment in research and development activities in markets defined by disruptive technology. The parenteral packaging market must have a long-term outlook, nevertheless, and must not expect a quick return on its R&D investments.
Environmental Factors- A significant trend in many industries is the development of renewable technology to reduce reliance on natural resources. The parenteral packaging market should evaluate how well a country's technology infrastructure supports the use of renewable technologies in order to capitalise on this environmental trend. Governments in certain regions of the world offer alluring incentives to adopt renewable energy. By seizing the chance and making investments in renewable energy sources, the parenteral packaging market may be able to fulfil its objectives for sustainable corporate development.
Legal Factors- Employment law refers to a large area of laws that defend workers' rights, including those to a fair wage, equality, equity, inclusion, fairness, and their bodily and emotional safety. In some countries, employment laws are not effectively enforced, while in others, breaching any of the outlined employee rights is punishable by heavy fines. While entering or operating in these countries, the parenteral packaging market should ensure the security of the working environment. Both direct and indirect discrimination must be prevented, thus the right processes must be in place. Effective adherence to employment laws can help the parenteral packaging market improve its employer brand reputation, which is essential for drawing and retaining top talent in the market.
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