Parenteral Packaging Market In-deep Analysis and Experts Review Report 2017-2025

Parenteral packaging is the process of packaging drugs or other fluids to keep its potency and therapeutic effectiveness intact throughout the time till the drug is administered. Parental packaging is required to protect drugs from contamination and from the aseptic administration to the patient. On the basis of materials parenteral packaging market is segmented into plastic & polymer and glass segments. The plastic and polymer are more durably then glasses used for parenteral packaging. The pharmaceuticals sector has witnessed significant technological advancements in the recent past. As a result, recent advancement in routes of drug administration is shaping the market demand for parenteral packaging.

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Continuous rise in chronic disease cases is expected to support the demand of parenteral drugs which in turn support the growth of parenteral packaging market in the near future. Asthma is one of the major chronic disease of air passages of the lungs. According to the World Health Organization (WHO) around 235 million people are suffering currently from asthma, it was estimated around 383,000 deaths occurred due to asthma in 2015 and the strong risk factor for asthma are inhaled substances and particles that causes allergic reaction which are exposed in environment. The fundamental causes of asthma can be tobacco smoke, chemical irritants at the workplace and air pollution.

The global parenteral packaging market was valued at US$ 7,845.7 million in 2016 and is expected to witness a robust CAGR of 11.1% during the forecast period (2017 – 2025)

Market Dynamics:

Increase in the prevalence of Alzheimer’s disease (AD) and aging population around the globe is expected to favor the growth in parenteral packaging market. According to the World Health Organization (WHO), the AD cases worldwide was estimated to be around 47 million and it will increase around 75 million by 2030 and the number of cases is expected to triple by 2050, due to the high prevalence rate and lack of healthcare services in rural areas. Also, increase in aging population and rise in demand for medication in the treatment of lifestyle diseases such as diabetes, are the other factors leading to the increase in use of parenteral drugs in developed and emerging economies. As per the SeniorCare the U.S. aging population was estimated to be around 50,683,620 in 2016 and is expected to be around 71,453,471 by the year 2030. And according to the National Institute on Aging (NIA) population worldwide is around 8.5% and it will rise around 17% by the year 2050.

Increase in incidence of cancer around the globe expected to support the growth of parenteral packaging market over the forecast period

North America holds the major market share, followed by Europe in the global parenteral packaging market. This is mainly due to rise in cancer case is projected to favor the growth of parenteral packaging market. According to the American Cancer Society (ACS) in the U.S. it was estimated that in 2016 around 1,685,210 cases of cancer was diagnosed and around 595,690 cancer deaths occurred this is due to the high risk factors such as smoking of cigarettes, consumption of alcohol and obesity rate this will led to the high proportion of chronic diseases in the U.S.

Market Top Key Players:

Key players in the parenteral packaging market include Gerresheimer AG, Schott AG, Becton, Unilife Corporation, Inc, Dickinson and Company, Ypsomed Holding AG, West Pharmaceutical Services, Inc., SiO2 Medical Products, Terumo Corporation, Ompi, Stevanato Group and Nipro Corporation, Berry Plastics Corporation, Becton Dickinson and Company, MeadWestvaco Corporation, Owens-Illinois, RPC Group, Schott Pharmaceuticals Services Inc., and Graphic Packaging Group.

Detailed Segmentation:

Parenteral Packaging Market, By Technique:

• Bags and bottles
• Ampoules
• Vials
• Prefilled syringes & cartridges
• Ready-to-mix-systems

Parenteral Packaging Market, By Material:

• Glass
• Plastic and polymer
• PVC
• polyolefin

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Parenteral Packaging Market to Surpass US$ 20.1 Billion Threshold by 2025, with North America positioned as Growth Engine

The Global Parenteral Packaging Market was valued at US$ 7,845.7 million in 2016 and is projected to expand at a CAGR of 11.1% during the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Increase in number of surgical procedures and chronic disease cases such as diabetes and cancer, is expected to support growth of parenteral packaging market over the forecast period.

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As the parenteral administration route is most effective and common form of drug delivery into body for active drug substances, the preference for parenteral drugs is increased in last few years. Also technological advancements in drug delivery systems, such as development of sophisticated system which allows drug targeting and controlled release of parenteral drugs is supporting the growth of parenteral drugs packaging market.

The parenteral medicines plays major role in treatment of many disease such as cardiovascular disease, ulcerative colitis, rheumatoid arthritis and many more and increase in prevalence of this disease is expected to support the growth of parenteral drug packaging market. As per Centers for Disease Control and Prevention (CDC), in 2014, around 29.1 million people were suffering from diabetes in the U.S., furthermore, among this cases 1 out of 4 people were found unaware about that they were suffering from diabetes. Expected increase in lifestyle disease cases and number of surgical procedures will support the increase in use of parenteral drugs which in turn expected to lead the growth of parenteral packaging market in the near future.

Parenteral drugs are used to enhance the healing of surgical procedure, also to reduce pain or risk of infection during surgical procedure. In this medication may include steroids or anti-inflammatory medications and antibiotics and are administered through intramuscular injection or IV.

The increase in surgical procedures for the treatment of many disease such as cancer, coronary artery disease expected to fuel the demand of parenteral drugs which in turn support the growth of parenteral packaging market in the near future. According to World Health Organization (WHO), around 312.9 million surgical procedures performed around the globe in 2012 and this number is increased by 38.2% from 226.4 million in 2004. Spurt in number of surgical procedures is expected to support the growth of parenteral packaging market in the near future.

Key takeaways of the market:

• The global parenteral packaging market is expected to expand at a CAGR of 11.1% during the forecast period (2017–2025). Due to rising number of surgical procedures and increase in cardiovascular disease cases from around the globe is expected to favor the market of parenteral packaging over the forecast period.
• The North America region in the global parenteral packaging market is expected to show high growth rate during the forecast period in terms of value

To know the latest trends and insights prevalent in the parenteral packaging market, click the link below: https://www.coherentmarketinsights.com/market-insight/parenteral-packaging-market-565

• In terms of technique segment, the prefilled syringes and cartridges packaging technique type is expected to expand at a significant CAGR of 13.1%, followed by ampoules packaging technique during the forecast period
• In terms of material segment, the polyolefin material parenteral packaging type is expected to expand at a significant CAGR of 12.4%, followed by plastic and polymer material parenteral packaging during the forecast period
• In terms of packaging type segment, the small volume parenteral packaging type is expected to expand at a significant CAGR of 12.2%, followed by large volume parenteral packaging during the forecast period
• The global parenteral packaging market is characterized by market expansion in Asia Pacific, North America, and Europe could generate higher market revenue due to the high incidence rate of lifestyle disease such as diabetes and increase in number of surgical procedures
• Some of the major companies in the area of parenteral packaging are Gerresheimer AG, Schott AG, Becton, Unilife Corporation, Inc, Dickinson and Company, Ypsomed Holding AG, West Pharmaceutical Services, Inc., SiO2 Medical Products, Terumo Corporation, Ompi, Stevanato Group and Nipro Corporation, Berry Plastics Corporation, Becton Dickinson and Company, MeadWestvaco Corporation, Owens-Illinois, RPC Group, Schott Pharmaceuticals Services Inc., and Graphic Packaging Group.

About CMI

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.