JERSEY CITY, N.J., April 24, 2024 /PRNewswire/ -- InsightAce
Analytic Pvt. Ltd. announces the release of a market assessment
report on the "Global Pharma Parenteral Packaging Market – By Drug
Type (Small Molecules, Biologics, Vaccines, Biosimilars, &
Others), By Product Type (Bottles, Ampoules, Vials, Prefilled
syringes, Cartridges, & Others), By Material (Glass, Polymer,
PVC, Others), By Packaging Type (Small Volume Parenteral, Large
Volume Parenteral) Trends, Industry Competition Analysis, Revenue
and Forecast To 2031."
According to the latest research by InsightAce Analytic, the
Global Pharma Parenteral Packaging Market is valued at
US$ 13.28 Bn in 2023, and it is expected to reach
US$ 18.85 Bn by 2031, with a
CAGR of 4.47% during the forecast period of
2024-2031.
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Pharma parenteral packaging is created to hold and transport
sterile pharmaceutical goods administered through injections. These
packaging techniques keep medical products safe,
contamination-free, and undamaged in storage, and transit and
maintain their potency.
The growing pharmaceutical sector, increasing prevalence of
chronic diseases, technological advancements, demand for parenteral
packaging and sterile packaging solutions, and increased
pharmaceutical expenditure worldwide are driving the pharmaceutical
packaging market.
However, with stringent government regulations and standards,
the high cost of raw materials used in pharma parenteral packaging,
such as glass and plastic, can fluctuate significantly and hamper
the market's growth.
List of Prominent Players in the Pharma Parenteral Packaging
Market:
- Adelphi Healthcare Packaging
- Akorn, Inc.
- Alcami Corporation, Inc.
- Amcor
- Ardena Holding NV
- Baxter International Inc.
- Becton, Dickinson and Company
- Berkshire Sterile Manufacturing
- Berry Global Inc.
- Catalent Inc.
- Gerresheimer AG
- Nipro Corporation
- PCI Pharma Services
- Schott AG
- Schur Flexibles Group
- SGD Pharma
- SiO2 Materials Science.
- Stevanato Group S.p.A
- Terumo Corporation
- UDG Healthcare Plc.
- West Pharmaceutical Services, Inc.
- Ypsomed Holding AG
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Pharma Parenteral Packaging Market Report Scope:
Report
Attribute
|
Specifications
|
Market Size Value In
2023
|
USD 13.28
Bn
|
Revenue Forecast In
2031
|
USD 18.85
Bn
|
Growth Rate
CAGR
|
CAGR of 4.47% from
2024 to 2031
|
Quantitative
Units
|
Representation of
revenue in US$ Bn, Volume (Tons) and CAGR from 2024 to
2031
|
Historic
Year
|
2019 to
2023
|
Forecast
Year
|
2024-2031
|
Report
Coverage
|
The forecast of
revenue, the position of the company, the competitive market
structure, growth prospects, and trends
|
Segments
Covered
|
By Drug Type, By
Product Type, By Material, By Packaging Type
|
Regional
Scope
|
North America; Europe;
Asia Pacific; Latin America; Middle East & Africa
|
Market Dynamics:
Drivers:
The growing demand for pharma parenteral packaging market is
primarily fueled by the increasing popularity and penetration of
generic medications coupled with blockbusters and other
small-molecule drugs going off-patent globally. Packaging is
crucial for safely storing and transporting medicines. Thus, pharma
parenteral packaging utilization will be propelled by the
increasing need for generic pharmaceuticals.
Challenges:
Stringent government regulations and standards can potentially
slow innovation and increase manufacturers' costs. Pharma
parenteral packaging manufacturers must comply with regulations set
by agencies like the US Food and Drug Administration (FDA) or the
European Medicines Agency (EMA) regarding material compatibility,
sterility, and labelling.
Regional Trends:
The North American pharma parenteral packaging market is
anticipated to register a significant market share in revenue. It
is projected to grow at a high CAGR in the near future because of
the presence of major market players, the growing pharmaceutical
industry, and more demand for injectable medicine packaging.
Besides, Europe had a substantial
market share because of expanded vaccine programs and the number of
people suffering from chronic and infectious diseases.
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Recent Developments:
- In January 2024, SCHOTT
Pharma expanded its global manufacturing network and invested a
double-digit million euros in a new production site for pharma drug
containment solutions and delivery systems in Jagodina in central
Serbia.
- In Nov 2023, Amcor
announced the introduction of the newest generation of its Medical
Laminates products. Amcor's newest discovery makes it possible to
create recyclable all-film packaging in the polyethylene stream. A
mono-material polyethylene (PE) laminate is the latest packaging
solution; it can be utilized for catheters, injection and tubing
systems, curtains, and protective coverings.
- In October 2023,
Gerresheimer launched COP (Cyclic Olefin Polymer) to fill and store
sensitive biopharmaceutical mRNA active ingredients.
- In Nov 2022, BD developed
the Effivax glass prefillable syringe to enhance biopharmaceutical
manufacturing processes by running smoothly on fill/finish
packaging lines. The fill/finish and container reliability of
Effivax's design improvements are intended to assist the company's
biopharmaceutical clients in meeting the exacting requirements of
vaccine manufacture. The syringe lowers the possibility of a line
halt, raises manufacturing capacity, and lowers the total cost of
ownership.
Segmentation of Pharma Parenteral Packaging Market-
By Drug Type-
- Small Molecules
- Biologics
- Vaccines
- Biosimilars
- Others
By Product Type-
- Bottles
- Ampoules
- Vials
- Prefilled syringes
- Cartridges
- Others
By Material-
By Packaging Type
- Small Volume Parenteral
- Large Volume Parenteral
By Region-
North America-
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and
Africa
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Why should buy this report:
- To receive a comprehensive analysis of the prospects for global
Pharma Parenteral Packaging market
- To receive industry overview and future trends of global Pharma
Parenteral Packaging market
- To analyze the Pharma Parenteral Packaging market drivers and
challenges
- To get information on the Pharma Parenteral Packaging market
size value (US$ Mn) forecast till 2031
- Major Investments, Mergers & Acquisition in global Pharma
Parenteral Packaging industry
Other Related Reports Published by InsightAce
Analytic:
Pre-Sterilized/Ready to Use Pharmaceutical Packaging Market
Sustainable Pharmaceutical Packaging Market
Pharmaceutical Packaging Market
Active, Smart and Intelligent Packaging Market
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