Parenteral Packaging Market is expected to grow from USD 11,500 million in 2022 to USD 16,354 million by 2030 : GreyViews
Parenteral Packaging Market Size By Product Type (Bags, Vials, Ampoules, Pre-Filled Syringes & Cartridges and Ready-to-Use Systems), By Packaging Type (Large Volume Parenteral and Small Volume Parenteral), By Technique (Vials, Bags & Bottles, Ampoules, Prefilled Syringes & Cartridges and Ready to Mix Syringes), Regions, Segmentation, and forecast till 2030.
Pune India, Feb. 02, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the *parenteral packaging market* is operating and is predicted to expand soon. The manufacturers and suppliers involved in the parenteral packaging market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product type, packaging type, technique, and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating 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. To achieve a substantial market share in the worldwide parenteral packaging market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The packing is one of the most important components of the item. For protecting the integrity of medicines, pharmaceutical packaging is crucial and important. Pharmaceuticals are protected from numerous elements, such as moisture, sunlight, and other environmental factors, by their packaging. In the end, this delays microbial growth and lengthens the drug's shelf life. Other than orally and really, parents' drugs are given intravenously. When giving drugs to kids, the subcutaneous, intramuscular, and intravenous routes are routinely employed. Parental drugs require special packaging since they must be hygienic and particle-free because they are administered directly to the body. When giving parental products to patients for administration, good aseptic practises (GAPs) are required since parental packaging is one of the essential elements of good manufacturing practises (cGMPs) in the production process. Governments are working to lower the cost of insurance services, particularly in developing countries. New business opportunities will arise as consumer healthcare spending rises and diabetes and related illnesses become more well known. Bormioli Pharma has acquired Remy and Geiser to expand the selection of tubing glass vials in various combinations. The business recently announced a new range of dual-chamber devices in response to evolving drug compositions.
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*Scope of Parenteral Packaging Market Report*
*Report Metric* *Information*
*Study Period* 2022-2030
*Base Year * 2022
*Forecast Period* 2023-2030
*Market Share Unit* USD Million
*Segments Covered* Product Type, Packaging Type, Technique, and Regions
*Regions Covered* North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
*Major Players* 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.
*The pre-filled syringe & cartridges segment is expected to be the fastest-growing segment in 2022. *
The product type segment is bags, vials, ampoules, pre-filled syringes & cartridges, and ready-to-use systems. The pre-filled syringe & cartridges segment will witness the highest growth rate during the forecast period. Parenteral packing is a method that guarantees the drug or other liquid maintains its therapeutic potency and efficacy for the duration of its shelf life or until it is delivered. To avoid infection and guarantee aseptic patient delivery, parenteral drugs must be packaged carefully. Prefilled syringes and cartridges are contemporary developments in parenteral packaging that place an emphasis on minimising drug administration, as opposed to conventional parenteral packaging options like vials and ampoules. A number of significant variables, such as the introduction of several new raw materials for parenteral packaging and advancements in previously utilised materials, are causing the industry to become more consolidated.
*The large volume parenteral segment is expected to be the fastest-growing segment in 2022. *
The packaging type segment is a large volume parenteral and small volume parenteral. The large volume parenteral segment is expected to witness the highest growth rate during the forecast period. A single-dose injection that has been heat sterilized and is then packaged in a glass bottle or flexible container with a capacity of more than 100ml is known as a large volume parenteral (LVP). A shot must be given via the skin or another external boundary tissue to deliver the active drug ingredients straight into the blood vessels, organs, tissues, or lesions. The standard formulation consists of a water-miscible or non-aqueous carrier, an active ingredient, and optional additives such buffers, antioxidants, preservatives, surfactants, antibacterial agents, and tonicity adjusters. Among the LVPs that are regularly available worldwide are peritoneal dialysis, irrigating solutions, blood derivatives, medicine premixes, and contrast agents.
* Vial's **segment is expected to be the fastest-growing segment in 2022. *
The packaging type segment is a large volume parenteral and small volume parenteral. The vials segment is expected to witness the highest growth rate during the forecast period. An injectable medicine or liquid is kept in a vial, which is a small, cylindrical container that is made of glass or plastic, and is sealed with a rubber stopper. You can use the vial once or more than once, and most single-use vials are made of clear glass so doctors can clearly see their contents.
*Regional Analysis *
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the parenteral packaging include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
· The North America region witnessed a major share. This is mostly due to an increase in cancer cases, which is anticipated to expand the parenteral packaging industry. In 2019, it was anticipated that 870,970 men and 891,480 women of all ages in the United States would get one of the four main types of cancer: cancer of the breast, prostate, colon, and rectum.
*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.*
The need for parenteral packaging has increased in order to better protect drugs, and it is projected that this will drive the market's growth in the area. The purity of the formulation must be maintained in the parenteral packing.
*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 number of patients is increasing and the healthcare industry is developing in these regions. The market in China is expected to have substantial growth among emerging countries between 2022 and 2030 as a result of rising government spending on improving healthcare facilities in these countries.
*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.*
The rising per capita healthcare costs in several industrialized countries are among the main drivers of the rise of the parenteral packaging industry in the area. The market for parenteral packaging will probably experience a positive overall impact as a result of the introduction of health insurance and the rise in per capita spending. The Drug Rule 1945 was modified by the Indian government in May 2022, and a notification to create a sub-rule under Rule 75 was published (3). This sub-rule will state that an application in Form 27D must be filed to the licensing authority in order to obtain or renew a license for the production, sale, or distribution of medicinal pharmaceuticals in large numbers, including parenteral, sera and immunization, and r-DNA derived medications.
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of the parenteral packaging market is mainly driven by the increase in the usage of pharmaceutical products.
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