Valley Cottage, NY, March 19, 2016 --(PR.com
)-- Parenteral refers to the injectable route of drug administration, it is the route of drug administration other than oral route, which bypasses the alimentary canal. The parenteral route of drug administration includes intravenous, intra-arterial, intra muscular, intra-cerebral, intra-cisternal, peridural and intrathecal routes. The parenteral drugs are injected directly into the body tissue, thus the packaging of parental drugs is of utmost importance to ensure the sterility of the drug inside the container, and also it becomes mandatory to avoid any physical, chemical and biological contamination of the drug until the time of use and during opening of the packaging. The packaging comes under 2 main categories, primary and secondary. Primary packaging protects the drug dosage form and it is in direct contact with the drug, whereas another layer of packaging which is not in direct contact with the drug forms the secondary packaging. The most common primary packaging containers used are made of glass and plastic.
Parenteral Packaging Market: Drivers and Restraints
Parenteral packaging market is growing, this is attributed to growing population, rising prevalence of diseases, increasing government funding for immunization across the globe, increasing companies investment in vaccine development, and rising initiatives by non-government organizations for vaccinations, which ultimately aids the growth of the parenteral packaging market, as more number of pharmaceutical companies buying the packaging containers. Secondly rising awareness regarding various diseases and awareness to follow the immunization program indirectly drives the parenteral packing market, giving enormous opportunities to the vendors within this market .however stringent government regulations in various drugs development procedures, hinders the growth of the parenteral packaging market.
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The Parenteral packaging market is segment based on the product type, material used and end user.
The Parenteral packaging market is segmented into following types:
By Material type
By Product type
Large volume parenteral containers
By End User
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Parenteral Packaging Market: Overview
Parenteral Packaging Market is growing at a significant rate. The market is expected to perform well over the forecast period due to increasing manufacturing of the generic drugs. Secondly the parenteral packaging market is expanding globally due to rising demand of vaccines and drugs. The prefilled syringes and vials are expected to grow with a decent CAGR over the forecast period. Increasing competition among different pharmaceutical companies tend to drive the packaging market towards the growth curve.
Advances in biotechnology often lead to the introduction of new vaccines, new drugs in the injectable form thus ultimately fueling the growth of the parenteral packaging market throughout the forecast period.
Parenteral Packaging Market: Region-wise Outlook
Depending on geographic region, the parenteral packaging market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
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North America is the largest regional market owing to the presence of sophisticated healthcare infrastructure, high patient awareness levels, healthcare expenditure and relatively larger number of R&D exercises pertaining to drug discovery and development, thus more number of pharmaceutical and biotechnology companies buying the packaging solutions from different vendors in the parenteral packaging market.
Asia Pacific is expected to grow at the fastest CAGR because of growing demand for contract manufacturing in pharmaceutical industry, thus boosting the market growth of parenteral packaging market throughout the forecast period.
Parenteral Packaging Market: Key Players
Key players of parenteral packaging market includes SCHOTT AG, United Drug Plc, Vetter Pharma International, Beacon Converters Inc., Gerresheimer, Amcor Limited etc. whereas some local Players also have a significant presence in parenteral packaging market.