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Parenteral product packaging is the packaging of drugs & other fluids to maintain their potency & therapeutic effectiveness intact and safe till the drug is administered. Parenteral product packaging is essential in protecting the drugs from contamination and aseptic administration to the patient. A rapid rise in demand for parenteral products packaging for the protection of drugs and retaining the quality of formulation is a major factor driving the market growth.
The primary factors propelling the global market growth are the increasing technological advancements in manufacturing parenteral products and continuous research & development activities. In addition, the growing trend of utilizing prefilled syringes & cartridges, ready-to-use systems, and other products for injectables due to their ease and convenience of use and low risk of contamination also contribute to the market growth.
The rising availability of alternative drug delivery methods, such as oral and transdermal routes, is a major factor limiting the market growth. It potentially reduces the need for parenteral product packaging solutions. Fluctuating raw material prices also impede the market growth.
The sudden occurrence of the COVID-19 virus hampered several industries worldwide. However, with the rising demand for parenteral drugs and their delivery devices, the market witnessed rapid growth. The flexibility and agility of product development, such as parenteral packaging, become ultimately important to COVID-19 treatment, leading to market growth.
The report covers the following key insights:
By Material | By Product Type | By Geography |
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Based on material, the market is segmented into plastic, glass, and paper & paperboard. The plastic segment leads the global packaging market for parenteral products. The material provides excellent barrier properties, further protecting the parenteral products from moisture, light, and oxygen that can compromise their stability and efficacy. The vials, ampoules, bags, and bottles manufactured with this material protect the quality of parenteral products, further boosting the segment growth.
Based on product type, the market is segmented into bags, bottles & jars, vials & ampoules, prefilled syringes & cartridges, boxes & trays, and others. The prefilled syringes & cartridges segment dominates the market and is estimated to grow significantly over the forecast period. The ease of patient use, convenience, comfort, and dosage accuracy provided by prefilled syringes and cartridges contribute to its rising utilization in the pharmaceutical sector, further aiding segmental growth.
By region, the parenteral products packaging market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is the dominant region in the global packaging of parenteral products. The rapidly rising insulin demand owing to the region's growing healthcare and lifestyle-related diseases majorly contributes to the market growth in North America. Asia Pacific is the second-leading region of the global parenteral products packaging market. The significant efforts by the government bodies to make insurance services cheaper, along with the flourishing pharmaceutical sector in the region, contribute to the market growth.
Europe is the third-leading region and is set to exhibit noteworthy growth during the forecast period. The growing elderly population, availability of new biotechnology products, and the increasing rate of premature births are majorly fostering market growth in Europe. Latin America will experience significant growth in the upcoming years due to the region's increasing research and development activities. The Middle East & African parenteral product packaging market is anticipated to exhibit moderate growth.
The report includes the profiles of key players such as Amcor, Gerresheimer AG, Schott AG, West Pharmaceutical Services Inc., Berry Global Inc., SiO2 Medical Products, Bormioli Pharma S.p.A., SGD Pharma, Origin Pharma Packaging, and Nipro.
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