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.
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The number of elderly people continues to grow worldwide. In European countries, the average life expectancy was over 75 years in 2010 and is expected to rise to over 80 years through the next decade, which can be credited to the advancement in medical practices. The need for the diagnosis and management of geriatric medical problems will therefore rise, augmenting the demand for cartridges, ampoules, and other parenteral products.
Vaccinations are a major health intervention that has a significant positive effect on the health of the population. Immunization has a significant correlation with parenteral demand. Accreditation plans such as the Global Vaccine Action Plan (GVAP) and the National Vaccine Plan (NVP) by the United States, which are introduced by the government on a regular basis to eradicate health issues such as hepatitis, polio, and others, are anticipated to fuel the parenteral packaging market further.
Parenteral Packaging Market Report Attributes
| 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 |
- Growing geriatric population and consequential medical treatments
- Increasing use of prefilled syringes and injection devices
- Upsurge in demand for vaccines
- Rising adoption of cartridges in dental anesthetic and insulin pumps
|
| Pitfalls & Challenges |
- High cost associated with manufacturing processes
|
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Supply and demand variations due to fluctuating costs of raw materials such as polymers and glass are, however, impacting the sales of parenteral package solutions globally. In addition, downward pressure on prices amid strong competition from multinational manufacturers is creating a hindrance to industry expansion. Despite these challenges, the mounting usage of injectable pharmaceuticals may lead to a recovery in cartridge production, fueling parenteral packaging industry growth over the estimated timeline.
Parenteral Packaging Market Analysis
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The vials segment in the parenteral packaging market is forecasted to exceed 6 billion US dollars by 2032. In the medical field, vials refer to small bottles or containers made of glass or plastic. These vials are primarily used to store liquid medications but can also accommodate tablets and powders. They are commonly larger containers designed to transport multiple dosages of medication. Vials are sealed with rubber stoppers or screw-on caps, allowing them to be easily resealed and reopened. The growing demand for vials is driven by the expansion of the global pharmaceutical industry, in part due to the increasing prevalence of treatable diseases worldwide.
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The parenteral packaging market is like a big supermarket with two main sectionsglass and polymers. Glass, like those clear jars you see in pharmacies, takes up the biggest chunk of the market and is growing steadily. It's the star player in making vials, cartridges, and syringes, among other fancy containers. Glass is a hot commodity in this market because it's like a fortress for your medicine. It doesn't let anything in or out, so it keeps your drugs safe and sound. It also blocks harmful sunlight, making sure your meds stay fresh for longer. The pharmaceutical industry loves glass because it's perfect for their generic injectable drugs. Plus, it's in high demand because it's high-quality stuff.
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Asia Pacific parenteral packaging market is projected to reach over USD 27.5 billion by 2032. The rising emphasis on the creation of sustainable and biodegradable packaging solutions and the advancement in manufacturing processes are among the key growth drivers. Over the years, there has been an increase in investments in R&D projects to innovate packaging technologies. Initiatives such as these will stimulate the development of efficient parenteral packaging materials in the region. APAC is also home to some of the biggest healthcare markets in the world, indicating the significant potential for the industry.
Technological advancements, manufacturing processes, and innovations in parenteral packaging across companies have resulted in rapid industry growth. Chemotherapy medicines administered intravenously are frequently utilized to treat cancer. The demand for these medications has grown significantly over time because of the growing prevalence of cancer in the region. However, they must be packed properly to preserve the potency of the pharmaceutical components in the medications, which is predicted to fuel the expansion of the parenteral packaging market during the forecast period.
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
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By Packaging Type
- Vials
- Cartridges
- Ampoules
- Prefilled syringes
- Infusion solutions bottles
- Infusion solutions bags
- Containers
- Others
By Material
By Region
- North America
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- Australia
- Indonesia
- Malaysia
- Vietnam
- Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
