Published by Uma Rajagopal
Posted on February 2, 2022
Manufacturers of parenteral packaging products are moving away from the ‘drugs for container’ concept and are focusing on providing ‘containers for drugs’ – implying the adoption of appropriate materials to manufacture parenteral containers.
Get Sample Copy: https://www.futuremarketinsights.com/reports/sample/rep-gb-1258
The 3P’s driving the global parenteral packaging market are Product, Process, and Patient, and given the increasing focus on sustainability and green initiatives, plastic is slowly being eliminated from the parenteral packaging ecosystem.
Companies are shifting towards prefilled and ready-to-use containers and this is expected to augment the usability of parenteral products in self-medication.
As such, the global market for parenteral packaging is set to witness significant growth in the next 10 years, as estimated in a study by Future Market Insights. According to a report released by the leading market research firm, the global parenteral packaging market is set to exceed US$ 11460 Mn by the end of 2021.
Exhibiting a growth rate of 5.5% in the coming decade, revenue from the sales of parenteral packaging products is slated to experience around 6% year-on-year growth rate in 2021. Sustainability is the buzzword here – manufacturers are steadfast in their focus on addressing environmental concerns; which probably explains the near-death of plastic as a preferred material for parenteral packaging, owing to environmental issues associated with the disposal of plastic parenteral packaging products.
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.
Several product recalls in the past have forced manufacturers of parenteral packaging products to select the best material to manufacture containers, and this factor is acting in favour of revenue growth of the global parenteral packaging market.
On the back of sustainability drives by global governments, manufacturers of parenteral packaging products are changing their operations by integrating automated systems in their assembly lines.
A strategic shift from manual to automatic packing lines is bringing in enhanced process efficiency and reducing dependency on manual labour, thereby creating pathways for cost-effectiveness in the long run. Further, the rapidly rising demand for prefilled syringes is benefitting the global parenteral packaging market.
Specific requirements from the healthcare industry for speciality packaging products such as IV pre-mixed systems and single-use vials is also expected to bolster revenue generation in the global market for parenteral packaging in the coming years.
Over the years, conventional raw materials used to manufacture parenteral packaging products have witnessed several advancements. Add to this the introduction of newer types of material to manufacture parenteral packaging containers, and the global market is suddenly a hotbed of opportunities for manufacturers.
The global parenteral packaging market is witnessing strategic collaboration between manufacturers and suppliers for both the sourcing of appropriate raw materials and the final packaging formats.
For instance, polymers such as cyclic olefin polymers (COP) and cyclic olefin copolymers (COC) are being sought after in large numbers, owing to their inherent advantages over conventional plastic and glass used to manufacture parenteral packaging containers.
The introduction of better raw material types supports increased sophistication in drug delivery technologies, thereby helping manufacturers up their revenue standing in the global market. Needless to say, this is positively impacting revenue growth of the global parenteral packaging market.
Explore FMI’s Extensive Coverage on Packaging Domain
Kegs Market : Kegs Market by Capacity (Upto 20 Litres, 21 to 40 Litres, 41 to 60 Litres, Above 60 Litres), Material (Plastic, Tin, Stainless Steel), End Use (Alcoholic Beverages (Beer, Wine, Spirits, Cider), Non-Alcoholic Beverages (Soft-Drinks, RTD Beverages, Juices), Cooking Oil, Chemicals) & Region- Forecast to 2022-2028
Flatback Tapes Market : Flatback Tapes Market by Adhesive (Acrylic, Silicon, Rubber, and Others), Product (Single Side, and Double Side), Application (Splicing, Packaging, Masking, and Tabbing), Thickness (< 10 Mil, 10 Mil to 15 Mil, and > 15 Mil) & Region – Forecast to 2022 – 2027
Palletizers Market : Palletizers Market by Machine Type (Conventional Palletizers, Robotic Palletizers), Product Type (Cases & Boxes, Bags & Sacks, Pails & Drums, Trays & Crates, Bundles), End-user Industry (Food, Beverage, Pharmaceutical, Chemical, Building & Construction) & Region – Forecast to 2022-2028
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: mailto:sales@futuremarketinsights.com
For Media Enquiries: mailto:press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Manufacturers of parenteral packaging products are moving away from the ‘drugs for container’ concept and are focusing on providing ‘containers for drugs’ – implying the adoption of appropriate materials to manufacture parenteral containers.
Get Sample Copy: https://www.futuremarketinsights.com/reports/sample/rep-gb-1258
The 3P’s driving the global parenteral packaging market are Product, Process, and Patient, and given the increasing focus on sustainability and green initiatives, plastic is slowly being eliminated from the parenteral packaging ecosystem.
Companies are shifting towards prefilled and ready-to-use containers and this is expected to augment the usability of parenteral products in self-medication.
As such, the global market for parenteral packaging is set to witness significant growth in the next 10 years, as estimated in a study by Future Market Insights. According to a report released by the leading market research firm, the global parenteral packaging market is set to exceed US$ 11460 Mn by the end of 2021.
Exhibiting a growth rate of 5.5% in the coming decade, revenue from the sales of parenteral packaging products is slated to experience around 6% year-on-year growth rate in 2021. Sustainability is the buzzword here – manufacturers are steadfast in their focus on addressing environmental concerns; which probably explains the near-death of plastic as a preferred material for parenteral packaging, owing to environmental issues associated with the disposal of plastic parenteral packaging products.
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.
Several product recalls in the past have forced manufacturers of parenteral packaging products to select the best material to manufacture containers, and this factor is acting in favour of revenue growth of the global parenteral packaging market.
On the back of sustainability drives by global governments, manufacturers of parenteral packaging products are changing their operations by integrating automated systems in their assembly lines.
A strategic shift from manual to automatic packing lines is bringing in enhanced process efficiency and reducing dependency on manual labour, thereby creating pathways for cost-effectiveness in the long run. Further, the rapidly rising demand for prefilled syringes is benefitting the global parenteral packaging market.
Specific requirements from the healthcare industry for speciality packaging products such as IV pre-mixed systems and single-use vials is also expected to bolster revenue generation in the global market for parenteral packaging in the coming years.
Over the years, conventional raw materials used to manufacture parenteral packaging products have witnessed several advancements. Add to this the introduction of newer types of material to manufacture parenteral packaging containers, and the global market is suddenly a hotbed of opportunities for manufacturers.
The global parenteral packaging market is witnessing strategic collaboration between manufacturers and suppliers for both the sourcing of appropriate raw materials and the final packaging formats.
For instance, polymers such as cyclic olefin polymers (COP) and cyclic olefin copolymers (COC) are being sought after in large numbers, owing to their inherent advantages over conventional plastic and glass used to manufacture parenteral packaging containers.
The introduction of better raw material types supports increased sophistication in drug delivery technologies, thereby helping manufacturers up their revenue standing in the global market. Needless to say, this is positively impacting revenue growth of the global parenteral packaging market.
Explore FMI’s Extensive Coverage on Packaging Domain
Kegs Market : Kegs Market by Capacity (Upto 20 Litres, 21 to 40 Litres, 41 to 60 Litres, Above 60 Litres), Material (Plastic, Tin, Stainless Steel), End Use (Alcoholic Beverages (Beer, Wine, Spirits, Cider), Non-Alcoholic Beverages (Soft-Drinks, RTD Beverages, Juices), Cooking Oil, Chemicals) & Region- Forecast to 2022-2028
Flatback Tapes Market : Flatback Tapes Market by Adhesive (Acrylic, Silicon, Rubber, and Others), Product (Single Side, and Double Side), Application (Splicing, Packaging, Masking, and Tabbing), Thickness (< 10 Mil, 10 Mil to 15 Mil, and > 15 Mil) & Region – Forecast to 2022 – 2027
Palletizers Market : Palletizers Market by Machine Type (Conventional Palletizers, Robotic Palletizers), Product Type (Cases & Boxes, Bags & Sacks, Pails & Drums, Trays & Crates, Bundles), End-user Industry (Food, Beverage, Pharmaceutical, Chemical, Building & Construction) & Region – Forecast to 2022-2028
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: mailto:sales@futuremarketinsights.com
For Media Enquiries: mailto:press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
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