Plastics Remain
Material Of Choice
In Parenteral Packaging Market
Polymer-based packaging forecast
to grow by double digits Norbert Sparrow Medical Materials, Packaging July 22,
2016
Parenteral packaging, which
protects drugs and other fluids that are administered to patients via injection
or similar means, is experiencing significant growth, according to a market
report published by Future Market Insights (Valley Cottage, NY), and that is
good news for plastics suppliers and processors.
The plastic and polymer segment
of the market is projected to grow 10.5% in 2016 compared with 8.7% for glass.
The global parenteral packaging market is expected to reach a value of $8.6
billion in 2016 and will grow at a compound annual growth rate of 10.2% through
2026, according to the consultancy.
The “shifting trend of primary
packaging material from glass to plastic and polymer is an exclusive factor,
which is anticipated to drive the parenteral packaging market in the near
future,” writes FMI, which adds that regulatory agencies are pushing this
transition.
Also contributing to growth in
parenteral packaging demand, according to FMI, is the rising incidence of
chronic diseases, government-sponsored preventive programs and an aging
population.
In the report, the parenteral
packaging market is segmented into bags, ampoules, vials, prefilled syringes and
ready-to-mix systems. Prefilled syringes are expected to grow at the highest
CAGR.
North America has the largest
market share, followed by Western Europe. The North American parenteral
packaging market is expected to expand at a CAGR of 11.2% over the forecast
period, and will continue to dominate the market in terms of value.
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