Parenteral Packaging Market to Witness a Pronounce Growth by 2025
Transparency Market Research Report Added "Parenteral Packaging Market" to its database.
Albany NY, 12 July 2018
-- Packaging is one of the most important component of the product. Packaging in pharmaceuticals is crucial and important to drug stability.
Parenteral Packaging Market Overview:
Packaging is one of the most important component of the product. Packaging in pharmaceuticals is crucial and important to drug stability. Packaging of pharmaceuticals ensures the protection of the product from various factors such as moisture, sunlight, and other environmental factors.
This in turn inhibits microbial growth and consequently extends the shelf life of the drug. Parental drugs are administered in the body other than oral or rectal. Common parental drug administration sites are intravenous, intramuscular, or subcutaneous. Parental drug which is directly administered in the body should be sterile and particle free, so packaging plays important role in the parental drugs. Parental packaging is one of the important component of good manufacturing practices (cGMPs) in the manufacturing, so professional team and skilled labors are required for good aseptic practices (GAPs) in dispensing parental products to patients for administration.
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Global Parenteral Packaging Market: Drivers and Restraints
Parenteral packaging market is classified into four major categories like product type, material type, packaging type and geography. Based on the product type parenteral packaging market is categorized into bottles, ampoules, vials, prefilled syringes, cartridges, and bags. Based on the material type market is classified into glass, plastic, polymer, PVC and others. Glass and plastic are the most common type of material used. Ampoules are only made of glass while all bags are made of a plastic. All other containers are made of either plastic or glass. On the basis of packaging type parenteral packaging market is classified into small volume packaging and large volume packaging. 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.
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Global Parenteral Packaging Market: Key Segments
Geographically, the global parenteral packaging market has been classified into five regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2016, North America was a leading market for parenteral packaging, in terms of revenue, owing to increasing prevalence of chronic diseases and rising demand for sterile packaging. North America was followed by Europe in the same year. Emerging markets such as Asia Pacific, Latin America, and Middle East & Africa are expected to witness high growth from 2017 to 2025 due to increasing patient population and growing health care industry in these regions. Among developing countries, the market in South Korea, China, and India is expected to witness robust growth between 2017 and 2025, due to growing investments by governments of these countries to improve health care facilities.
Advancement and development in packaging solutions which deliver product quality, protection, patient comfort, and security needs are anticipated to surge consumer demands. This is projected to drive the market for innovative parenteral packaging. Furthermore, implementation and introduction of number of stringent standards and regulations for parenteral packaging by government and regulatory organizations such as Parenteral Drug Association (PDA), National Quality Forum (NQF), Healthcare Compliance Packaging Council (HCPC), and Food and Drug Administration (FDA) is anticipated to boost the growth of the market during the forecast period from 2017-2025.
However, limited availability of raw materials and instability in the price of raw materials is estimated to hinder the growth of the market. Additionally, complex registration process of packaging is anticipated to be a restrain in the growth of the market
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Global Parenteral Packaging Market: Key Players
Key players operating in the parenteral packaging market include Gerresheimer AG, Unilife Corporation, Inc, Schott AG, Dickinson and Company, West Pharmaceutical Services, Inc., RPC Group, Ypsomed Holding AG, Terumo Corporation, SiO2 Medical Products, Ompi, Stevanato Group, Nipro Corporation, Berry Plastics Corporation, MeadWestvaco Corporation, Becton Dickinson and Company, Owens-Illinois, Graphic Packaging Group, and Schott Pharmaceuticals Services Inc.
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Submitted by hawer on Thursday, 12 July 2018 at 4:35 PM
Category: Health Care & Medical
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