Parenteral Packaging Market to Receive Overwhelming Hike In Revenues By 2025 | Leading Players are Gerresheimer AG, Schott AG, Becton, Unilife Corporation, Inc, Dickinson and Company, Ypsomed Holding AG, West Pharmaceutical Services, Inc.

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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