Global sales of the parenteral packaging Market are projected to reach US$ 12,791.2 million in 2024, with a 4.5% year-over-year growth. The demand for parenteral packaging is anticipated to grow at a CAGR of 4.6% during the forecast period. The parenteral packaging industry is expected to grow to a value of US$ 20,115.6 million worldwide by 2034.
By the end of 2034, prefilled syringes should have a value share of almost 39.6%. This can be linked to the growing use of prefilled syringes because of their superior usability and convenience.
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Important Factors Driving the Parenteral Packaging Market’s Growth
- An increase in the frequency of chronic illnesses and a growing demand for efficient medication delivery techniques
- growing need for sterile packaging solutions and parenteral medications
- Increased use of injectable drugs
- Parenteral diabetic medication packaging solutions are in greater demand.
- Government campaigns to immunize citizens
- Growing demand for alternatives for injectable drug packaging
- increasing emphasis on enhancing patient safety
One of the key drivers fueling the growth of the parenteral packaging market is the escalating demand for advanced and reliable packaging solutions to meet the stringent requirements of modern pharmaceutical products. The market is characterized by a continuous quest for innovation, driven by factors such as the rise in biopharmaceuticals, increasing healthcare expenditure, and the globalization of pharmaceutical manufacturing.
Innovations in parenteral packaging include the development of smart packaging technologies that incorporate features like RFID and sensors for real-time monitoring of product conditions, ensuring supply chain visibility and product safety. Advancements in prefilled syringe designs with enhanced safety features, eco-friendly and recyclable packaging materials in response to sustainability initiatives, and advanced aseptic processing technologies are shaping the landscape of parenteral packaging.
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Major Trends in the Parenteral Packaging Market
- Continuous advances in parenteral packaging
- Growing acceptance of biologics and biopharmaceuticals, such as cell treatments, vaccines, and monoclonal antibodies
- increasing use of sustainable materials such as biocompatible polymers
- Growing use of cutting-edge drug delivery devices like autoinjectors
- growing demand for injectable generic pharmaceuticals
Key Companies Profiled
- UFP Technologies, Inc.
- Schott AG
- UDG Healthcare plc
- Gerresheimer AG
- Becton
- Dickinson and Company
- Catalent, Inc.
- Stevanato Group S.p.A.
- Baxter International Inc.
- Nipro Corporation
- West Pharmaceutical Services, Inc.
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Key Segments:
By Product Type:
- Vials
- Pre-filled Syringes & Cartridges
- Bags
- Ampoules
- Ready to Use Systems
By Material Type:
- Glass
- Plastic
- Polyvinyl Chloride (PVC)
- Polyolefin
By Packaging Type:
- Small Volume Parenteral (SVP)
- Large Volume Parenteral (LVP)
Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- APEJ
- China
- India
- Australia & New Zealand
- ASEAN
- Rest of APEJ
- Japan
- MEA
- GCC Countries
- South Africa
- Rest of MEA
Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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