Containers for Drugs’ New Mantra for Manufacturers of Parenteral Packaging Products; Plastic to Make Way for Glass as the Most Preferred Packaging Material

Parenteral Packaging Market Snapshot
Future Market Insights (FMI) in its market analysis projects the parenteral packaging market to grow at 5.5% CAGR during the forecast period 2021-2031. Driven by the rising necessity of effective packaging solutions for therapeutic drugs without compromising their potency, the parenteral packaging market is forecast to reach the market valuation of US$ 11,460 Mn in 2021.

North America is expected to provide lucrative growth opportunities backed by increasing healthcare spending and rising production rate of parenteral packaging in U.S. Spurred by this, the North America parenteral packaging worth is projected to expand at 4.3% CAGR in 2021.

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Innovation to Take Centre Stage in the Manufacturing of Parenteral Packaging Products; Automation to Underpin Core Production Processes
With technology having seeped through the global industry fabric, the market for parenteral packaging products is witnessing a new era of advanced processing techniques powered by automation in the packaging industry.

Advanced automation in manufacturing processes has brought in notable modifications pertaining to the provision of drugs to patients, and this integration of automation into core manufacturing systems is trending the global parenteral packaging market.

Manufacturers are also focusing on deploying high quality, contamination free processes to assemble parenteral packaging containers. These processes seek to eliminate incidences of reactions between the material used to manufacture the containers and the actual content (drugs) of the containers, thereby preventing harmful effects on patients consuming the drugs.

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Parenteral packaging Market – Report Scope
Attribute

Key Regions Covered

North America, Latin America, Eastern Europe, Western Europe, Japan, Asia Pacific excluding Japan, and Middle East and Africa

Key Countries Covered

US, Canada, Brazil, Mexico, Argentina, Rest of Latin America, Germany, Italy, France, U.K., Russia, Spain, BENELUX, Poland, Nordic, Rest of Europe, India, China, ASEAN, ANZ, Rest of APEJ, GCC Countries, Turkey, South Africa, Iran, Israel, and Rest of MEA.

Key Segments Covered

Product type, Material type, Packaging type, and Region

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.
Report Coverage

Market Overview, Market Background, Market Forecast, Segmental Analysis, Regional Profiling and Competition Analysis

Key Questions Answered in the Report
What is parenteral packaging market size?
Driven by increasing demand for therapeutic drugs storage provisions, the parenteral packaging market size is forecast to reach US$ 11,460 Bn in 2021

At what rate did the parenteral packaging market expand in the last five years?
Between 2016 and 2020, the parenteral packaging sales surged at a 4.6% CAGR backed by increasing demand for self administered drugs and medicines for chronic ailments.

What are the key trends shaping the parenteral packaging market?
Growing emphasis towards multi-compartment parenteral packaging for faster distribution of medications across the globe is the key trend shaping the market.

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