Published on : Dec 05, 2018
Albany, New York, December 5, 2018: Medical packaging remains primary to meet patients’ needs, irrespective of space constraints. Manufacturers are thus keen on adopting specialized packaging solutions such as parenteral packaging to maintain drug efficiency by retaining shelf life. Significant expenditure towards healthcare infrastructure more particularly across developing economies offer rife growth triggers in parenteral packaging market. Market Research Hub (MRH) has recently released a new research study titled, 'Parenteral Packaging Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028' to span across recent market advances and their eventual implications on holistic growth curve of parenteral packaging market.
COC and COP Have Emerged as Potent Substitutes for Conventional Packaging Materials
Technological advances in terms of building components used for parenteral packaging remains center stage amongst leading market contributors. Market forerunners are akin on introducing novel components such as cyclic olefin copolymers (COC) and cyclic olefin polymers (COP) as apt substitutes for conventional building materials such as plastic and glass. Besides, vendors are also expanding their geographical scope by means of mergers and acquisitions to remain industry specific in their offerings.
Corning Affirms Facility Expansion to Cater to Surged Demands for Parenteral Packaging
To cite an instance, leading pharma packaging giant, Corning has announced its expansion plans to elevate its production capabilities. Post strategic collaborations with Pfizer and Merck, Corning has witnessed a demand upsurge for its parenteral packaging solutions, following which the company intends to drive significant investments towards facility expansion.
Plastic Material Type Segment Likely to Witness Maximized Demands
This report on parenteral packaging market is a comprehensive description of market segments and factors that significantly drive growth curve. The report also sheds light on market definition and dynamics such as drivers, restraints, opportunities, and threats, also elaborating on opportunity assessment to aid readers’ investment discretion. Product type, material type, and packaging type are accounted as dominant market segments in parenteral packaging market. Based on product type, the market is stratified into vials, pre-filled syringes and cartridges, bags, ampoules, and ready to use systems. In terms of material type, the market exhibits glass, plastic, PVC, and polyelefin as core segments. By packaging type, the market is segregated into small volume parenteral and large volume parenteral.
Further as the report progresses, readers are presented with an elaborate overview of regional diversification, based on which readers can aptly comprehend geographical expanse of parenteral packaging market. Eastern and Western Europe, North America, Latin America, Japan, Asia-Pacific, and Middle East and Africa are identified as dominant regional pockets in parenteral packaging market.
Competition Dashboard: Parenteral Packaging Market
Thorough research elements incorporated in the trailing sections of the report offer decisive insights about competition spectrum prevalent in parenteral packaging market. The report elaborates on companies’ revenue figures, complete with a review of winning marketing tactics and tools, recent developments and overall market contribution. Key players in parenteral packaging market benchmarked in this section include, UFP Technologies, Inc., Schott AG, UDG Healthcare plc, Gerresheimer AG, and Becton, Dickinson and Company amongst a host of others.
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