Global Parenteral Packaging Market is segmented By Product Type (Pre-filled Syringes and Injectables, Vials, Ampoules, Cartridges, Others), By Material Type (Glass, Plastic), By Packaging Type (Small Volume Parenteral (SVP), Large Volume Parenteral (LVP)), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Market Overview
The global parenteral packaging market research report analyses the shares, size, recent trends, future market outlook, and competitive intelligence. Parenteral packaging usage in pharmaceutical and medical is on the rise. Demand for medicines and vaccines in Europe is booming. The competitive rivalry intensifies with Bormioli Pharma S.p.A, UFP Technologies, and others active in the market.
Market Scope and Summary
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Metrics |
Details |
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Market CAGR |
15.1% |
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Segments Covered |
By Form, By Type, By Application, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Parenteral packaging is a type of packaging solution used in pharmaceuticals and medicals that allows the medicine or other fluid to keep its potency and therapeutic effectiveness intact throughout the shelf life or until the drug is administered.
Due to various chronic diseases coupled with the rising demand for COVID-19 vaccines, the high mortality rate has fueled the demand for rapid delivery of medicines and drugs without loss in potency.
This has culminated in elevated demand for medicines and vaccines and the need to protect drugs from contamination until administered, thus boosting the parenteral packaging market demand.
Market Trends and Dynamics
The increasing per capita healthcare expenditure of leading economies across the globe
The development of the worldwide parenteral packaging market incorporates the expanding per capita medical services consumption of driving economies across the globe. For instance, parenteral medications are the second-biggest supporter of the worldwide drug market of US$ 962 Billion, with around 30% offer in 2014, went before simply by oral dose structure.
Additionally, the drawn-out gauges that pharma spending is required to coordinate with the consumption in the medical care area at a normal of 4.2% during the estimated time frame. Moreover, private medical coverage (PHI) assumes a huge part in cutting up the medical care frameworks.
Inoculations through antibodies are a significant well-being intercession that emphatically affects the well-being of the general population. Interest parenterally is firmly connected with vaccination. For instance, inoculation plans like Global Vaccine Action Plan (GVAP) 2011–2020, and National Vaccine Plan (NVP) by the U.S., which are presented by the public authority on ordinary spans to destroy medical problems like hepatitis, polio are relied upon to additional fuel the parenteral bundling market.
cost-to-benefit ratio is a concern for small manufacturers
Parenteral packaging is capital-escalated; the underlying capital needed to build up an innovation plant is high. Trendsetting innovations and a directed climate are needed to pack items aseptically utilizing BFS innovation. Players with high-speculation capacities are entering the market, as exceptional yields are gotten uniquely in the long haul.
Consequently, few producers are hesitant to contribute as they don't have the capital needed for the high starting speculations. This deters producers from putting material Types into this innovation and lessens the upstream interest on the lookout.
Segmentation Shares
Based on product, the parenteral packaging market is categorized into bottles, ampoules, vials, pre-filled syringes, injectables, cartridges, and others.
The prefilled syringe and injectables have a share of 65% in the worldwide market and are expected to increment further by 400bps of 2021's portion of the overall industry during the conjecture time frame. According to industrial analysis, this development is expected because of the interest in totally aseptic and proficient items. Prefilled syringes are improved by keeping up with aseptic conditions for treatment and medication admission.
This development is inferable from the expanding interest in aseptic medication conveyance to lessen the effect of ongoing illnesses. Be that as it may, utilization of vials is expected to increment in the not-so-distant future because of antibody bundling in the COVID-19 pandemic circumstance.
Geographical Analysis
Based on geography, the parenteral packaging market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa.
The parenteral packaging demand in the European market is expected to dominate in sales and value generation due to the increasing medical and pharmaceutical in countries such as the U.K, France, Italy,y and Germany.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the growth of the Blow-fill-seal Equipment market in the region. For instance, Gerresheimer initiated two more plants in India and China for pharmaceutical products to produce primary plastic packaging. This will allow it to offer its consumer the best possible supply service.
Moreover, Bormioli Pharma acquired GCL Pharma, an Italian subsidiary of the Guala Closures Group, focused on manufacturing aluminum, rubber, and plastic closures for pharmaceutical applications. This follows Bormioli's purchase of Remy & Geiser finished last fall, growing its ability and product range to support the most demanding pharmaceutical requirements.
In addition, Bormioli Pharma focuses on fortifying its industrial footprint by adding novel technologies that will allow them to extend its product range, particularly in the parenteral and oral segments, further stimulating its business synergies.
Companies and Competitive Landscape
The Parenteral Packaging market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Bormioli Pharma S.p.A, UFP Technologies, Inc., Schott AG, UDG Healthcare plc, Gerresheimer AG, Becton, Dickinson and Company, Catalent, Inc., Stevanato Group S.p.A., Baxter International Inc. among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Parenteral Packaging market globally.
Bormioli Pharma S.p.A.
Overview: Bormioli Pharma S.p.A. is a European Pharmaceutical packaging solutions company. The company is headquartered in Milano, Italy.
Product Portfolio: Bormioli Pharma S.p.A is engaged in manufacturing various types of parenteral packaging solutions such as vials, bottles, syringes, and many others
Key Developments:
- Bormioli Pharma S.p.An acquired GCL Pharma, an Italian subsidiary of the Guala Closures Group, focused on manufacturing aluminum, rubber, and plastic closures for pharmaceutical applications. This follows Bormioli's purchase of Remy & Geiser finished last fall, growing its ability and product range to support the most demanding pharmaceutical requirements.
The global parenteral packaging market report would provide access to approx. 61 market data tables, 51 figures, and 180 pages.
