New York, NY, Sept. 04, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Parenteral Packaging Market by Material Type (Glass and Plastic), by Product Type (Bags, Ampoules, Vials, Prefilled Syringes and Cartridges, and Ready to Mix Systems), and by Packaging Type (Small-Volume Parenteral and Large-Volume Parenteral): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 - 2024”. According to the report, global parenteral packaging market was valued at approximately USD 8.69 billion in 2017 and is expected to generate revenue of around USD 18.20 billion by the end of 2024, growing at a CAGR of around 11.14% between 2018 and 2024.   

The swift technological development and continuous improvement in the product have led to the upsurge in the packaging industry across the globe. The advancements in packaging technology have resulted in the upgradation and continuous innovation in many sectors of the healthcare and pharmaceutical market. The rising popularity for the usage of plastic products for the primary packaging is going to drive the market growth and development. In addition, with the introduction of biodegradable plastic packaging, the demand for sustainable packaging among the pharmaceutical manufacturers is growing. The emergence of green packaging technologies is gaining popularity in the pharmaceutical industry. Drug manufacturers across the globe are continuously focusing on sustainability.

Browse through 72 Tables & 21 Figures spread over 110 Pages and in-depth TOC on “Global Parenteral Packaging Market Share 2018: Industry Trends and Forecast, 2024”.

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The healthcare expenditure in developed as well as developing economies is increasing because of the rising prevalence of chronic diseases among the population. Moreover, the introduction followed by the implementation of a number of stringent standards and regulations for parenteral packaging by government and regulatory organizations such as National Quality Forum (NQF), Parenteral Drug Association (PDA), Healthcare Compliance Packaging Council (HCPC), and Food and Drug Administration (FDA) is expected to boost the growth of the market. Such factors are expected to drive the flexible packaging market growth over the forecast period.

The parenteral packaging market is segmented on the basis of the material type which is further divided into glass and paper. Plastics segment held major revenue share in 2017. The growth is accredited to its features such as easy handling and lightweight coupled with its increased durability and resistance to external damages.

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Based on product type, the parenteral packaging market has been fragmented into ampoules, vials, bags, prefilled syringes and cartridges, and ready to mix systems. Prefilled syringes and cartridges segment is projected contributing to a noteworthy revenue share in the forecasted timeframe. The growth is anticipated due to its extensive usage in various surgical procedures.

Based on the packaging type, parenteral packaging market has been categorized into small-volume parenteral and large-volume parenteral. Food segment is contributed a noteworthy revenue share in 2017. The growth is anticipated because they are readily usable products. Also, they are largely used for the treatment of diabetes and lung-related infection.

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North America grew at a significant growth rate in the global parenteral packaging market in 2017 and the region is predicted to continue with its regional dominance over the forecast period. The growth of this regional market is accredited to the rise in elderly population over the years. Also, the growing health concerns followed by health expenditure among the people in developed countries are predicted to boost the market growth and development over the forecasted time period.

The Asia Pacific is predicted to endow with considerable opportunity for parenteral packaging. The growth is anticipated in the region because of the regulations and implications formed by the government coupled with the FDA in order to counterfeit pharmaceutical products. Manufacturers in the region are adopting methods that could counterfeit products, patient compliance, and drug integrity and credibility among the population. These factors are expected to drive the parenteral packaging market growth over the forecast timeline.

Browse the full "Parenteral Packaging Market by Material Type (Glass and Plastic), by Product Type (Bags, Ampoules, Vials, Prefilled Syringes and Cartridges, and Ready to Mix Systems), and by Packaging Type (Small-Volume Parenteral and Large-Volume Parenteral): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 - 2024" report at https://www.zionmarketresearch.com/report/parenteral-packaging-market

Europe parenteral packaging market accounted for substantial revenue during the forecast timeframe. The growth is accredited to escalating occurrence of chronic diseases among the population coupled with the increasing demand for sterile packaging of medical and pharmaceutical products. Additionally, the investments made by the government towards the development of healthcare facilities are going to have a positive impact on the market growth in this region.

Some of the industry players operating in the flexible packaging market include RPC Group, Unilife Corporation, Gerresheimer AG, Stevanato Group, Berry Plastics Corporation, Nipro Corporation, MeadWestvaco Corporation, Becton Dickinson and Company Inc., Schott AG, Dickinson and Company, Inc., Ypsomed Holding AG, Terumo Corporation, SiO2 Medical Products, West Pharmaceutical Services, Schott Pharmaceuticals Services Inc., Owens-Illinois, Graphic Packaging Group, and others.  

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This report segments the global parenteral packaging market as follows:

Global Parenteral Packaging Market: Material Type Segment Analysis

  • Plastic 
    • PVC
    • polyolefin
  • Glass

Global Parenteral Packaging Market: Packaging Type Segment Analysis

  • Small-Volume Parenteral
  • Large-Volume Parenteral

Global Parenteral Packaging Market: Product type Segment Analysis

  • Bags
  • Ampoules
  • Vials
  • Prefilled syringes & Cartridges
  • Ready-to-mix Systems

Global Parenteral Packaging Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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