Parenteral Packaging Market Forecasts to 2030 – Global Analysis By Product Type (Vials, Pre-filled Syringes, Cartridges, Bags and Other Product Types), Material Type (Glass, Plastic and Other Material Types), Packaging Type and By Geography

Parenteral Packaging Market Forecasts to 2030 – Global Analysis By Product Type (Vials, Pre-filled Syringes, Cartridges, Bags and Other Product Types), Material Type (Glass, Plastic and Other Material Types), Packaging Type and By Geography

According to Stratistics MRC, the Global Parenteral Packaging Market is accounted for $12.24 billion in 2023 and is expected to reach $19.03 billion by 2030 growing at a CAGR of 6.5% during the forecast period. Parenteral packaging is a type of solution used in pharmaceuticals and healthcare products that enables the medication or other fluid to maintain its potency and therapeutic effectiveness throughout the shelf life or until the drug is administered. The high mortality rate has fueled the demand for quick delivery of medications and drugs without loss of potency because of various chronic diseases, along with the rising demand for COVID-19 vaccines. The result has been a rise in demand for vaccines and medications, as well as the requirement to safeguard drugs from contamination.

According to USP (United States Pharmacopeia) there are two types of glass used for parenteral packaging containers. Type I glass is a borosilicate glass and used for neutral preparation. Type II is soda lime glass and is used for packaging acidic alkaline and neutral parenteral preparations.

Market Dynamics:

Driver:

Increasing per capita healthcare expenditure

The expansion of the global market for parenteral packaging is taken into account with the rising per capita consumption of medical services in the world's major economies. Antibody-based vaccinations are a significant well-being intervention that significantly improves the health of the general populace. Parenterally administered interest is closely related to immunization. For instance, vaccination programs like the National Vaccine Plan (NVP) by the U.S. and the Global Vaccine Action Plan (GVAP) 2011–2020, which are presented by the public authority at regular intervals to eradicate diseases like polio and hepatitis, are relying on them to further fuel the parenteral bundling market.

Restraint:

Expensive initial investment

The sizeable initial investment needed for research, development, and implementation of advanced packaging technologies is one of the industry's biggest challenges. Included in this are the expenses incurred in the design and production of specialized packaging equipment and materials. Moreover, the inability of smaller pharmaceutical firms and startups to allocate funds for these investments may limit their ability to successfully compete in the market.

Opportunity:

Modernized drug delivery technologies

Parenteral packaging businesses have opportunities to work with pharmaceutical manufacturers as a result of the development of cutting-edge drug delivery systems like wearable injectors, auto-injectors, and smart packaging with sensors. Furthermore, these advancements in technology increase patient comfort, adherence, and compliance, opening up new markets for creative packaging ideas.

Threat:

Price pressure and fierce competition

Intense competition is present in the parenteral packaging market, where many businesses are vying for market share. Price pressure is frequently a result of this fierce competition as manufacturers compete for contracts with pharmaceutical firms. As a result, companies may find it difficult to allocate resources for R&D and innovation while maintaining high standards, and as a result, profit margins may decrease.

Covid-19 Impact:

The parenteral packaging market was significantly impacted by the COVID-19 pandemic in numerous ways. As pharmaceutical companies raced to develop and distribute COVID-19 vaccines and treatments, it initially resulted in increased demand for packaging supplies and solutions, particularly for vaccines and necessary medications. Moreover, this increase in demand put pressure on the supply chain, leading to brief shortages and changes in price for some packaging parts. The pandemic also caused logistical and manufacturing disruptions, which delayed production and distribution.

The Pre-filled Syringes segment is expected to be the largest during the forecast period

The pre-filled syringes segment is predicted to hold the largest market share throughout the forecast period. Pharmaceutical companies prefer pre-filled syringes because of how easy they are to use and how precisely they deliver dosages, which makes them a good option for a variety of injectable medicines like vaccines, insulin, and biologics. Moreover, these syringes already contain one dose of the medication, lowering the possibility of contamination and dosage mistakes. Additionally, they are also frequently used in the administration of novel biologic therapies because they are well suited for use in the rapidly developing field of biotechnology.

The plastic segment is expected to have the highest CAGR during the forecast period

The plastic segment is estimated to witness lucrative growth. Due to their adaptability, light weight, and lower production costs compared to glass, plastic materials, such as polypropylene and cyclic olefin polymers (COP), have become more popular. Parenteral packaging frequently uses plastic vials and containers, particularly for oral liquids and some injectable drug formulations. Additionally, developments in plastic packaging technology, like pre-filled plastic syringes and infusion bags, are examples of creative and sophisticated plastic packaging solutions.

Region with largest share:

North America is expected to witness the largest market share during the forecast period. The established pharmaceutical and biotechnology sectors in this area are largely responsible for the dominance of this market, which in turn drives demand for sophisticated and compliant packaging solutions. Additionally, its position as the top region in the global parenteral packaging market is cemented by North America's emphasis on drug safety, patient-centric packaging, and innovations in healthcare delivery systems.

Region with highest CAGR:

Over the anticipated period, Europe is expected to register significant growth. The robust pharmaceutical and biotechnology industries in Europe, as well as its strict regulatory environment, encourage ongoing innovation and the adoption of top-notch parenteral packaging solutions. Moreover, the European market is distinguished by a strong focus on environmental sustainability, which has prompted the creation and adoption of eco-friendly packaging products and procedures. A growing demand for parenteral medications, including those in advanced packaging formats, has also been caused by Europe's aging population and an increase in the prevalence of chronic diseases.

Key players in the market

Some of the key players in Parenteral Packaging market include Nipro Corporation, Catalent, Inc, Sio2 Materials Science, Schott AG, Gerresheimer AG , Baxter International Inc., Dickinson and Company, Stevanato Group S.p.A., Corning Inc., UDG Healthcare plc, Becton, West Pharmaceutical Services, Inc. , UFP Technologies, Inc. and Terumo Corporation.

Key Developments:

In June 30, 2021, SCHOTT AG announces the inauguration of its new tube factory in Jinyun, China. The new facility will help increase production for a pharmaceutical glass tubing company used to store and package life-saving medicines.

In May 19, 2020, Sharp, a subsidiary of UDG Healthcare plc, announced that it has acquired a 160,000-square-foot pharmaceutical packaging facility from Quality Packaging Specialists International, LLC, located in Macunji, Pennsylvania, USA.

Product Types Covered:
• Vials
• Pre-filled Syringes
• Cartridges
• Bags
• Ampoules
• Ready to Use Systems
• Infusion solutions bottles
• Infusion solutions bags
• Containers
• Other Product Types

Material Types Covered:
• Glass
• Plastic
• Other Material Types

Packaging Types Covered:
• Small Volume Parenteral (SVP)
• Large Volume Parenteral (LVP)
• Other Packaging Types

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


Companies Mentioned
Nipro Corporation
Catalent, Inc
Sio2 Materials Science
Schott AG
Gerresheimer AG
Baxter International Inc.
Dickinson and Company
Stevanato Group S.p.A.
Corning Inc.
UDG Healthcare plc
Becton
West Pharmaceutical Services, Inc.
UFP Technologies, Inc.
Terumo Corporation