Stratistics MRC’s Global Parenteral Packaging Market value is expected to reach $19.03 billion growing at a CAGR of 6.5% during 2023-2030.
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.
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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.
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.
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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.
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
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