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The global parenteral products packaging market has the potential to grow by USD 9.28 billion during 2019-2023. The growth momentum will accelerate throughout the forecast period, and the market will grow at a CAGR of almost 10%.
The increase in demand for small molecule prefilled syringes and the growing use of connected parenteral product packaging are some of the major factors driving market growth. The US, Germany, and Japan are currently the major markets for parenteral packaging.
The report provides a detailed analysis of the market by product type and geography. Also, the report analyzes the market’s competitive landscape and offers information on several market vendors.
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The market is fragmented, and the degree of fragmentation will remain the same during the forecast period. Market vendors are investing in R&D to develop new products and introduce various technological innovations. Amcor Plc, AptarGroup Inc., and Baxter International Inc. are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the need to comply with strict regulations will challenge the growth of the market participants. To increase their parenteral packaging market share, companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this parenteral packaging market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this parenteral packaging market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading parenteral packaging manufacturers, including:
The increasing demand for small molecule prefilled syringes will be a significant factor driving the growth of the parenteral packaging market. Small molecules are generally sold in prefilled syringes. These syringes help in administering fixed dosage to patients and avoid issues, such as needle-stick injuries and dosage errors. Small molecule prefilled syringes also enhance the convenience of patients by allowing them to self-administer drugs.
Moreover, small molecules in prefilled syringes are preferred over other dosage forms, such as capsules and tablets because of their ability to provide faster therapeutic action by directly transferring the drug into the bloodstream. The popularity of such small molecule prefilled syringe is growing in the healthcare industry for treating diseases in analgesics, cardiovascular, adjuvants, and neurology segments. These factors are expected to drive the growth of the parenteral packaging market during the forecast period.
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APAC will offer several growth opportunities to market vendors during the forecast period. The increasing demand for parenteral medicines from the aging population, rising government investments in healthcare, and increasing prevalence of communicable and non-communicable diseases are fueling parenteral packaging market growth in this region.
During the forecast period, almost 34% of the overall market growth will originate from APAC. Market growth in this region will be faster than the growth of the market in other geographies.
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Prefilled syringes ensure the delivery of the exact amount of dose and minimize the chance of overfill and drug waste. Such benefits and the rising adoption of targeted and innovative molecular entities will drive the growth of the parenteral packaging market in this segment. The increasing incidences of cancers and chronic diseases will also boost the demand for prefilled syringes during the forecast period.
However, market growth in this segment will be slower than the growth of the market in the bottles, tubes, and pouches segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the parenteral packaging market size.
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY PRODUCT TYPE
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
PART 15: EXPLORE TECHNAVIO
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