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.
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.
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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)
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.
Furthermore, In Europe as per the American Cancer Society (ACS) it was estimated around 3.5 million new cancer cases were occurred in 2012, among this were the lung and colorectal cancer which lead to the cause of death in Europe.
Also, it is expected that the parenteral packaging market growth rate will increase in Asia Pacific region during forecast period due to the continuous increase in aging population which leads to the chronic disease such as diabetes which is expected to favor the growth of parenteral packaging market. According to National Center for Biotechnology Information (NCBI) the diabetes was estimated to be around 36% in west pacific region in 2013. Whereas according to the International Diabetes Federation (FDI) around 415 million people have diabetes in the world and 78 million people in the South East Asia have diabetes, by 2040 it will rise around 140 million and there were around 69.1 million cases of diabetes in India in 2015.
The advancement in manufacturing processes used to develop pharmaceutical packages play a vital role in the growth of the global pharmaceutical packaging market. Advanced manufacturing processes includes green packaging technologies, uses of environment-friendly materials which may cause no harm to the environment. The raw materials used for eco-friendly packaging include paper, cardboard, and corn starch, by the use of biodegradable materials supports the sustainability of pharmaceutical product lifecycle and thus, pharmaceutical manufacturers increase the demand for sustainable packaging.
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.
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