Parenteral Packaging Market Size
Parenteral Packaging Market size was over USD 30 billion in 2022. Given the increased requirement for medical treatments among the growing geriatric population, the industry is poised to depict more than 6% CAGR through 2023-2032.
Globally, the population of elderly persons keeps rising. Thanks to improvements in medical treatment, the average life expectancy in European nations was over 75 years in 2010 and should grow to above 80 years over the following decade. The need for cartridges, ampoules, and other parenteral goods will thus increase as the need for the diagnosis and treatment of geriatric medical conditions rises.
One important health intervention with a clear positive impact on the general state of the population is vaccinations. Parenteral demand is significantly correlated with immunization. Approved by the government on a regular basis to eradicate health issues including hepatitis, polio, and others, accreditation plans including the Global Vaccine Action Plan (GVAP) and the National Vaccine Plan (NVP) by the United States are expected to drive the parenteral packaging market even more.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Parenteral Packaging Market Size in 2022 | USD 30 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 6.4% |
| 2032 Value Projection | USD 51 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 275 |
| Tables, Charts & Figures | 309 |
| Segments covered | Packaging, Material, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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Variations in supply and demand resulting from changing raw material costs—such as polymers and glass—are, nevertheless, influencing the sales of parenteral package solutions worldwide. Furthermore impeding industry growth is downward pressure on prices resulting from fierce rivalry among international producers. Notwithstanding these difficulties, the increasing use of injectable drugs could cause cartridge manufacturing to revive, hence driving parenteral packaging sector expansion throughout the projected period.
Parenteral Packaging Market Analysis
By 2032, the sector of vials in parenteral packaging industry is expected to reach six billion US dollars. Vials in the medical sector are small glass or plastic containers or bottles. Though they can also hold pills and powders, these vials are mostly used for storing liquid drugs. Usually bigger containers meant to carry several dosages of medication, they Rubber stoppers or screw-on caps seal vials such that they may be readily reopened and resealed. The rise of the global pharmaceutical business, in part because of the rising frequency of treatable diseases globally, fuels the expanding demand for vials.
Like a large supermarket with two main sections—glass and polymers—the parenteral packaging business is Like the clear jars you find in pharmacies, glass dominates the market and is expanding consistently. Among other elegant containers, it is the star player in designing vials, cartridges, and syringes. In this market, glass is a coveted product since it serves as a sort of pharmaceutical fortress. It maintains your medications safe and sound as it allows nothing in or out. It also filters dangerous sunlight so your medications remain fresh for longer. Since glass is ideal for their generic injectable medications, the pharmaceutical business adores glass. It's also highly sought for as it's high-quality material.
By 2032 Asia Pacific paredteral packaging industry is expected to reach over USD 27.5 billion. Two main drivers of development are the increasing focus on the design of biodegradable packaging solutions and the improvement in manufacturing techniques. Investing in R&D initiatives to develop packaging solutions has grown over years. Projects like these will help the area's pareteral packaging materials to develop effectively. APAC indicates the great industry potential since several of the largest healthcare markets in the globe call there.
Rapid industry expansion has come from technological developments, production techniques, and parenteral packaging advances across different companies. Usually used to treat cancer are intravenously injected chemotherapy drugs. The rising frequency of cancer in the area over time has greatly increased the need for these drugs. Nonetheless, they have to be packed correctly to maintain the effectiveness of the pharmaceutical components in the drugs, which is expected to drive the paredteral packaging market growth over the projected year.
Parenteral Packaging Market Share
- Becton
- Dickinson and Company (BD)
- Schott AG
- Gerresheimer AG
- Nipro Corporation
- Ypsomed Holding AG
- West Pharmaceutical Services Inc
- Baxter International Inc
- Terumo Corporation
- Stevanato Group S.p.A
- Corning Inc
- Catalent Inc.,
- Sio2 Materials Science
are some of the prominent players in the parenteral packaging industry. These firms are focusing on strategies such as manufacturing capacity expansion to boost their customer base and reinforce their presence in the market.
Impact of COVID-19 Pandemic
Immunization and vaccination became essential health activities during the COVID-19 pandemic. Since vaccinations against potential variants of the virus have become a top priority, the sales of vials and glass tubes have soared, especially in the U.S. and Europe markets. The introduction of immunization campaigns has also encouraged ampoules producers to operate at breakneck rates to address the burgeoning vaccine demand. The escalating consumption of sterilized glass syringes for bio-pharma drugs will thus support parenteral packaging material developers, even in the post-pandemic era.
The parenteral packaging market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2018 to 2032 for the following segments
By Packaging Type
- Vials
- Cartridges
- Ampoules
- Prefilled syringes
- Infusion solutions bottles
- Infusion solutions bags
- Containers
- Others
By Material
- Glass
- Polymers
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- Australia
- Indonesia
- Malaysia
- Vietnam
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
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