Pharmaceutical Industry is experiencing technological advancements, especially in drug packaging. In order to maintain the effectiveness of fluids and drugs intact throughout their shelf-life, major players are moving towards parenteral packaging. While plastic and secondary materials are being used for pharmaceutical packaging, glass is still the primary material for parenteral drugs. However, regulatory concerns on the use of glass as the material for parenteral drugs is the biggest reason for manufacturers to shift to plastic packaging. The government in various countries are also taking an initiative to increasing the adoption of injection based therapy which is increase the demand for parenteral packaging.
According to the report by Future Market Insights (FMI), the global parenteral packaging market is anticipated to register CAGR of 10.2% between 2016 and 2026. While the shift from the glass as packaging material to plastic packaging material is expected to drive the demand for parenteral packaging. On basis of region, North America parenteral packaging market is estimated to increase to 11.2% CAGR during 2016-2026. Owing to the favorable manufacturing and trading conditions, APEJ is anticipated to register 10.2% CAGR during 2016-2026. Meanwhile, North America followed by Western Europe is projected to gain high growth rate.
New packaging solutions to drive demand for parenteral packaging
Parenteral packaging is moving towards automation, providing supply-chain transparency. The factors such as patient comfort requirement, new biotechnology products, prefilled syringes, IV premixed bags and single-use vials are driving demand for better parenteral packaging.
Manufacturers are also using new polymers such as Cyclic Olefin Copolymer (COC). While COC/glass container is another new technology in parenteral packaging. However, growing trend towards ready-to-use containers will change the most common packaging format of parenteral packaging.
The parenteral market is also moving towards developing connected devices. Parenteral packages are being developed with sensors connected to the smartphone app. This provides details about treatment, dosage, date, time. For instance, ENYA platform is a device that can be applied to any multiple dose pen. The companies are trying to develop a device which can provide information on injection data to the patients.
Gerresheimer, a German-based manufacturer is planning to launch new syringe safety solution. The solution includes standard tubs and nests, making it possible for drug manufacturers to use standard filling process. Being user-friendly and with enhanced syringe processability, it has an ability to reduce the number of needlestick injuries.
Companies are also entering into partnerships to develop new parenteral packaging solutions. For example, Stevanato Group has collaborated with Corning Incorporated to supply new Corning Valor Glass for the pharmaceutical industry. This glass enhances the quality of parenteral packaging. Valor glass is damage resistant, offers strength and chemical durability, resulting in better drug protection. The latest agreement signed between the two companies includes Stevanato Group’s converting technology with Valor glass to provide a high quality of pharmaceutical containers.
With the increase in development of biopharmaceuticals, the requirement for container and packages have also changed as compared to traditional drugs. As a result of this, the government in different countries are also introducing new regulations in terms of packaging material used for development of parenteral packaging.